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Announcements
Cyprus – Update on COVID-19 Restriction Measures
Update on COVID-19 Restriction Measures In light of the worsening COVID-19 spread in the community, the Ministry of Health has announced that the following restriction measures as be enforced as of 20:00 on the 12th November 2020 and remain in force until the 30th November 2020: CATEGORY A MEASURES – Pancyprian Application Gatherings of persons...
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Establishment of a Medical Company in Cyprus
Establishment of a Medical Company in Cyprus With a publication in the Official Gazette of the Republic of Cyprus, on 19.07.2013, the Law on Registration of Doctors (Amended) of 2013 (Law 73 (I) / 2013) (hereinafter “the Law”) was issued. The Law provides for the establishment of Medical Companies and establishes the legal framework for...
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Cyprus – Update on COVID-19 Restriction Measures
Cyprus – Update on COVID-19 Restriction Measures The spread in the community was assessed and taken into account, as well as the risk of specific activities, where there is an increased risk of high spread of the virus. Specifically and analytically, the measures are categorized into three groups as follows: Category A. Medium-term measures in...
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Termination of the Cyprus Citizenship Scheme
On the 13th October 2020 the Council of Ministers has decided to proceed with the Termination of the Cyprus Citizenship Scheme, citing reasons of weakness into the review and due diligence system and various loopholes which potential investors took advantage of. The above decision shall come into force as of the 1st November 2020. Any...
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Road Speed Limit police “allowance” amended
The Cyprus Republic has issued new guidelines as of 24th September 2020 that the current “allowance” for exceeding the speed-limit within city limits, and more generally in residential areas, is permanently reduced by 10 percent (%). This decision was deemed to be necessary, following the significant amount of fatal and serious road collisions in cities,...
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Amendments to Penalties for Road Traffic Violations
With an overwhelming majority of votes, new laws and regulations will be formed, aiming road safety and a decrease in Cyprus’ high number of road deaths and serious injuries. From 1st October 2020, the penalties for violations of the Traffic Code will alter and there will be an increase of incoming fines for speeding, alcohol,...
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Cyprus Amendments to Citizenship Scheme
The Council of Ministers, during its assembly on the 31.7.2020 has made changes to the current Cyprus Investment Programme, affecting applicants as per the 17-18.8.2020.  In general, the main new terms are as follows: All applicants must, during the 5 years, for which they are obligated to keep their investment and residence, provide the Ministry...
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Amendment to Procedures for Payment of Stamp Duty
The Law Firm of G. Vrikis & Associates LLC would like to bring to your attention the recent change in the procedure of attaching stamp duties based on their value. As of the 27th of July 2020, the procedure for affixing Stamp Duties changes based on their value, as indicated by the relevant announcement posted...
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Tax Law amendment provides tax incentives for reduced rent
On 2 June 2020, an amending Income Tax Law was published in the Official Gazette with respect to tax relief on rental income. The amendment was voted to support the Cyprus economy following the COVID-19 outbreak and provides a tax incentive to landlords (individuals or companies) to voluntarily reduce the rent charged to tenants. According to...
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Zeta Emilianidou
Following the issue of Regulations ΚΔΠ 5229-5233 and ΚΔΠ 5239, the Minister of Labour, Welfare and Social Insurance issued on 2nd May 2020 Regulations ΚΔΠ 5257-5261 extending the provision of Special Leave Benefit for the care of children, the Special Sickness Benefit, the Special Benefit for Self-Employed and the Special Unemployment Benefit under the Special...
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