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George Vrikis
Cyprus – The 60-day Tax Residency Certificate
The following new circular which was issued by the Tax Authorities in Cyprus in early 2022, provides additional guidance and clarity as to the tax residency according to the legal provision of the 60-day stay in the Republic of Cyprus, under the Income Tax Law, Article 2. Application of the 60-day rule for obtaining tax...
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COVID-19 Additional Restrictive Measures
As per the new restrictive measures announced on the 21st December 2021, the following shall be applicable: the re-opening of schools after the Christmas holidays on 10 Januaryand upon the students’ return, all students, teachers and other school staff must present a negative 72 hour-PCR laboratory test or 48-hour rapid antigen test. the extension of all other provisions of...
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Tax Relief on Loan Restructuring has been Extended
Cyprus Government has proceeded to extend, ad of the end of November 2021, the regulations relating to the granting of tax relief on loan restructurings. Persons can benefit from this scheme due to the extension which is now valid until the 31st December 2022. The exemptions and incentives granted are: No payment of stamp duty...
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Mandatory PCR Test on Entry to the Republic
As per the new restrictive measures announced today 02/12/2021, Passengers aged 12 years and over are obliged to carry out a PCR test until 10 January 2022. In the context of actions taken by the Government to curb the pandemic and to safeguard the health system from increased hospitalizations of COVID-19 patients, the Council of...
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As on the 15 October 2021 the Cyprus government presented its Action Plan for attracting companies to operate or expand their activities in Cyprus, in an attempt to make the island a Sustainable Business and Trade Centre of the broader region and Europe. The new tax incentive strategy has been prepared in a manner consistent...
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Eviction Moratorium Deemed to be Unconstitutional
In its recent ruling issued on the 5th of October 2021, the Supreme Court ruled as unconstitutional the bill passed by the Cyprus Parliament extending the moratorium on tenant evictions, which was passed then in an effort to reduce the impact on social and economic consequences of the COVID-10 pandemic. In its ruling, the Supreme...
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Issuance of Registration and Operating Conditions of Crypto Asset Service Providers by CySEC
The Cyprus Securities and Exchange Commission (CySEC) published a detailed Policy Statement on 13 September 2021, covering the registration process and operations of crypto asset service providers (CASPs). The Policy Statement has been awaited and followed CySEC’s first issued Directive for the prevention and suppression of money laundering and terrorist financing (Register of Crypto Asset...
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Working from Home Abroad – Employers’ Considerations
Working from Home Abroad – Employers’ Considerations Introduction With the recent shift in the work environment forced upon the globe under the COVID pandemic, we have seen a vast and swift change in the status quo as people were compelled to work remotely from home. In this historic shift, with both employees and employers realizing...
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FAQs relating to Rapid Antigen Tests as of the 1st August 2021
COVID-19 – FAQs relating to Rapid Antigen Tests as of the 1st August 2021 The Ministry of Health of the Republic of Cyprus has issued its guidelines and FAQs relating to the upcoming changes for the rapid tests to be available and testing methods, as follows: What changes as of 1st of August onwards regarding rapid...
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EU Non-Conformity Letters for Posting of Workers
EU Non-Conformity Letters for Posting of Workers The EU Commission has sent letters of formal notice to 24 Member States, for non-conformity of national legislation with the Directive 2014/67/EU on the enforcement of Directive 96/71/EC concerning the posting of workers in the framework of the provision of services. Directive 96/71/EC draws up a list of working...
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