While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the commercial sector does not remain unaffected.

Greece, Cyprus and Israel have agreed to an ambitious, $6 billion natural gas pipeline stretching from the eastern Mediterranean to Europe, further cementing Greece’s position as a regional energy hub at the cross- roads of Europe, Asia and Africa.

Cyprus offers two types of express trusts. The first is the common law express trust and the second is the Cyprus International Trust which is a type of express trust with special characteristics in statute that make it more attractive for international tax and estate planning purposes. This guide offers a brief introduction to Cyprus International Trusts.

Cyprus provides an advantageous EU-compliant tax system with a plethora of incentives for businesses and individuals. The island has one of the most favorable tax regimes throughout the EU including a corporate tax rate of 12,5% in addition to other tax advantages such as its non-domicile tax exemption policy.

This guide addresses the obtaining of work permit for non-EU Nationals seeking to be employed by companies of foreign interests as well as non-EU nationals looking to be employed at any company in Cyprus.

We are an independent family-owned law firm in Cyprus offering trusted advice and representation of a world class standard. We have been acting for individuals, families and foreign investors since 1980 and over time our clientele has extended to include some of the biggest companies in Cyprus, local authorities, entrepreneurs and high net-worth individuals.

WHY CYPRUS CITIZENSHIP Reasonable investment amount of €2.000.000; The applicant has a variety of investments to choose from; The investment can be released 3 years after acquiring the passport. No requirement for a VISA to more than 159 countries; Permanent Residence without a required physical presence in Cyprus.

INTRODUCTION In an effort to enhance the competiveness,fairness and simplicity of the Cyprus tax system and to make it more attractive to foreign investors, the Cyprus Government passed on 9th July 2015, among others, the “Domicile” concept. The introduction of the non-domicile rules aims to attract high-earners to relocate to Cyprus, by using Cyprus as a business centre and transferring the headquarters of their business thus creating real...

CYPRUS PERMANENT RESIDENCE An accelerated procedure for attaining permanent residence for third country nationals for indefinite duration. Reasonable investment amount of €300.000 plus VAT. The spouse, dependent children and parents of the applicant can obtain permanent residence with no additional investment.

‘YACHT LEASING SCHEME’ The guidelines of the Cyprus VAT Department on the department’s policy with regards to the VAT treatment of leasing arrangements for pleasure yachts allow for a reduced effective VAT rate which may be as low as 2.42% , being the lowest VAT in Europe.