News & Publications

Termination of the Cyprus Citizenship Scheme

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...
Road Speed Limit police “allowance” amended

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...
Administrative Court Decision annulling Tax Commissioner’s decision.

Administrative Court Decision annulling Tax Commissioner’s decision.

On the 21st September 2020, the Administrative Court of the Republic of Cyprus issued a decision in Case No.334/2017 (OCEAN AQUARIUM LTD -v- THE REPUBLIC OF CYPRUS), annulling the decision of Commissioner of...
Amendments to Penalties for Road Traffic Violations

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,...
Cyprus Amendments to Citizenship Scheme

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...
Amendment to Procedures for Payment of Stamp Duty

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...
Amendment to the Double Tax Treaty between Cyprus and the Russian Federation

Amendment to the Double Tax Treaty between Cyprus and the Russian Federation

Pursuant to the latest discussions and talks between the Republic of Cyprus and the Russian Federation, an agreement has been concluded for the amendment to the Double Tax Treaty between Cyprus and the...
Tax Law amendment provides tax incentives for reduced rent

Income 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...
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