As statutorily required, Cyprus registered companies must pay an annual company fee at the Department of the Registrar of Companies (RoC) every year. For the year 2022, the fee is payable the latest by 30th June 2022. The annual fee, as in previous years, is set at Euros 350,00 / company and the fee can…
What is IP Box Regime? IP Box Regime (known also as a patent box, innovation box or IP box) is a corporate tax regime used by many countries to incentivize research and development activities by taxing revenues deriving from licenses, royalties, patents, sale or transfer of qualified IP assets differently offering lower taxes compared to…
What are Holding Companies? In simple terms, Holding Companies are companies that do not offer a product of services but exist for the sole purpose of owning and controlling other companies via share majority; they are usually found within a Group of Companies as the Parent entity of the other Subsidiary companies. As such, their…
The Eastern Mediterranean is an evolving superyacht destination. The boundaries of this region encompass some of the most diverse and culturally significant countries on earth. The limit for many superyachts is often somewhere near Antalya on the coast of Turkey. Many more yachts pass through on their way to transit the Suez Canal. Lying at…
The Cyprus Government recently presented a new strategic plan for attracting investors and companies to the country, with particular emphasis on high-tech, shipping, innovation, research and development, biogenetics and biotechnology research. The plan is in line with the guidelines of the European Commission and the Recovery and Resident Facility and will be implemented in…
A new amendment to the Income Tax Law, on, 21 December 2021, was published in the Cyprus Government Gazette (“Law amendment”) whereby an additional corporate tax residency test is introduced based on incorporation. The additional test aims to capture Cyprus incorporated / registered companies that are not tax resident in any other jurisdiction commonly referred…
Cyprus Law permits the so-called “re-domiciliation” process allowing a company to transfer its “seat” of incorporation into, or out of Cyprus, in accordance with Companies (Amendment) Law of 2006, Law No. 124(I)/2006) (the “Law”). This law provides a major advantage for a foreign company that can transfer its seat to Cyprus and perhaps later to…
The Republic of Cyprus was established in 1960 after the former colony gained independence from Britain. Since 1974, however, a de facto division of the island has existed, with the Cyprus government controlling 63% of the territory in the South, and the pseudo state, formed by the Turkish Cypriots and backed by Turkish Army Units,…
If you are planning on setting up a business/Company in Cyprus the first thing that Exsus will do is to register your Cyprus Company, a relatively simple procedure and is normally accomplished within a reasonable time frame. Incorporation of Cyprus Companies Non-Cypriots (natural persons or other entities) do not require any permit to hold shares…
National flag-carrier Cyprus Airways said on Monday it has opened bookings for a new route linking Larnaca with London. The new route will fly between Larnaca airport and London Heathrow, and flights are scheduled to commence from September 10. The airline offers competitive fares for the popular destination, with a limited time offer for bookings…
