NEWSROOM

Further Improvement of Income Tax exemptions for Persons who Move to Cyprus for Employment
29/07/2022

An amending law was published in the Official Gazette of the Republic of Cyprus with respect to the income tax exemptions for employment income, in relation to persons moving to Cyprus for employment. 

Incentives for Investing in Innovative SMEs – Extension of Application to Corporate Investors
25/07/2022

The tax incentives for investing in innovative enterprises have been extended even further following a law approved by Cyprus Parliament recently. The extension concerns...

Increased Tax Deduction for Research and Development Expenses
11/07/2022

An amendment to the Income Tax Law (the ‘Law’) was voted by the Cyprus Parliament on 7 July 2022 in order to allow for an increased tax deduction on...

Extension of Income Tax 50% Exemption Approved by Council of Ministers
12/05/2022

The Council of Ministers approved on 10 May 2022 the significant improvement of an incentive aimed at attracting foreign companies and highly skilled staff to Cyprus.

Incentives for Investing in Innovative SMEs – Extension of Application
22/03/2022

The tax incentives for investing in innovative enterprises, which were introduced in 2017, were extended until 30 June 2024 by a decision of the...

Digital Nomad Visa – Extension of Number of Beneficiaries
08/03/2022

On 3 March 2022 the Council of Ministers of the Republic of Cyprus decided for the number of persons who can obtain a Digital Nomad Visa to be increased from 100, which was set initially, to 500.

New Package of Incentives for Establishing or Expanding Presence in Cyprus
21/10/2021

On 15 October 2021 the Cyprus government presented its Action Plan for attracting companies to establish or expand presence in Cyprus. The Plan is in line with...

Reductions in Cyprus Tonnage Tax for Environmentally Friendly Vessels – Procedure and Arrangements
21/09/2021

Through a Circular issued by the Shipping Deputy Ministry on 3 September 2021, the relevant procedure and practical arrangements for qualifying with those incentives has been determined.

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