• IN467 - Another Reason to Choose Cyprus - The Cyprus Non-Domicile Regime

    Cyprus is an attractive option for the relocation of both companies and individuals.

    This island offers a warm climate, good infrastructure, convenient geographic location, membership of the EU, tax advantages for companies and incentives for individuals through the Cyprus non-dom regime.

    Background

    The Cyprus House of Representatives approved new tax laws on 9 July 2015, which took effect on 1 … more

  • IN464 - Fast Track Cyprus Citizenship by Investment and the Benefits it Offers

    Cyprus Citizenship by Investment is rapidly becoming one of the EU’s most popular residence schemes.

    A fast track procedure exists for non Cypriot citizens (and their families) to acquire Cyprus Citizenship by investing €2.5 million* in Cyprus.*€2.0 million in one set of circumstances as detailed in the financial criteria.

    A non-Cypriot citizen who meets one of the financial criteria … more

  • IN462 - An Effective Guide: How to Reinstate a Cyprus Company

    At the end of 2016 thousands of Cyprus companies were struck off – as the Cypriot Government recognised that many had been inactive for a number of years.

    This Information Note considers why these companies were struck off and explains the relatively straightforward process for a company to be reinstated.

    Why were Cyprus Companies Struck Off?

    There are two reasons why the Cyprus Registrar of … more

  • IN456 - Reasons Why the Double Tax Agreement Between Cyprus and South Africa is so Attractive

    South Africa is one of the most sophisticated and promising emerging markets globally.

    The potential offered by the South African economy is evident in its diversity of sectors and industries. It has a modern and extensive transport infrastructure and  labour costs are priced competitively. 

    These factors, together with the country's significant natural resources, have made it a popular country … more

  • IN447 - Cyprus Revised Tax Treaty with India

    Cyprus is rapidly expanding its tax treaty network, as illustrated by new treaties with Bahrain (coming into force January 2017) and Latvia (ratified June 2016).

    In addition, in November 2016, Cyprus and India signed a revised Double Tax Treaty. Comprehensive details of the treaty are yet to be released but a number of key measures have been confirmed.

    Key Provisions of the Treaty

    Once the … more

  • IN440 - Important Changes to the Cyprus (EU) Citizenship by Investment Programme

    On 13th of September 2016, important changes were made to the programme to obtain Cypriot Citizenship by Investment. This programme enables successful applicants to gain a Cyprus (EU) passport.

    Major Changes to the Programme

    The minimum investment has been reduced from €5 million to €2.5 million*.

    *A minimum investment of only €2 million is acceptable provided that the investment is only … more

  • IN438 - The Benefits of the New Cyprus-Iran Double Tax Treaty

    The Governments of Cyprus and Iran signed and ratified a new double tax treaty in August 2015. Cyprus has a favourable tax system with an extensive network of Double Tax Treaties and this new treaty makes Cyprus an excellent gateway jurisdiction for business and investments into and out of Iran.

    The Cyprus Tax System at a Glance

    Resident companies are generally taxed at 12.5% of their … more

  • IN436 - Restarting the Clock for Non-UK Domiciles: Why Cyprus, Malta and Portugal are Attractive Jurisdictions to Consider for Relocation

    The UK offers an attractive tax regime for up to 15 years for individuals who are resident in the UK but do not have a UK domicile.

    Individuals who are UK resident, but not UK domiciled, do not have to pay UK tax on their foreign income and gains, as long as these sums remain outside of the UK.

    Individuals may choose to structure their tax affairs so that they cease to be UK tax resident for a … more

  • IN432 - Acquiring Property Through a Cypriot Company

    Property in Cyprus can be purchased through a Cypriot company and the investor can benefit from the advantages available to Cypriot corporations. There are a number of capital gains tax exemptions, which make investing in Cypriot property attractive and Cypriot corporation taxes are also competitively low.

    For the purposes of this Article, property is defined as both residential and commercial … more

  • INPT2 - Chipre – Obtenção da Cidadania Através de Investimento

    Concessão da Cidadania

    A obtenção da cidadania no Chipre através de investimento, é um procedimento rápido e fácil, aplicável a cidadãos não cipriotas e aos seus membros familiares.

    Participando neste programa, o aplicante e os seus membros familiares obterão o passaporte cipriota. De realçar que não obterá apenas uma permissão de residência ou um visa, mas sim plena cidadania de um Estado  … more

  • IN424 - Why Consider Cyprus as the Location for an Alternative Investment Fund?

    A Cyprus Alternative Investment Fund (AIF) is a collective investment which raises external capital from a number of investors with a view to investing it for the benefit of those investors. It does not need to be licensed as an Undertaking for Collective Investment in Transferable Securities (UCITS).

    Alternative investments include hedge funds, managed futures, real estate, commodities and … more

  • Constitución de una sociedad limitada en Chipre

    ¿POR QUÉ CONSIDERAR CHIPRE UNA BUENA OPCIÓN?

    Chipre es la tercera isla más grande y popular en el Mediterráneo. Situada al este de Grecia y al sur de Turquía fue dividida en dos en 1955. La República de Chipre comprende aproximadamente el 59% de la isla y ya es miembro de la Unión Europea. Turquía controla la parte norte de la isla, pero solo está la considera un estado soberano.

    Los factores … more

  • IN294 - Cyprus, Madeira, Malta and the UK as Holding Company Jurisdictions

    Ideal Characteristics for the Location of an International Holding Company

    The location of a holding company is an important consideration in any international structure where the objective is to minimise the tax charged on the income flow.  Ideally the company should be in a jurisdiction which: 

    Has a good double tax treaty network, thereby minimising withholding taxes on dividends received. … more

  • IN413 - The Cypriot Notional Interest Deduction Regime and How It Can Be Of Benefit

    Cyprus has introduced a Notional Interest Deduction (NID) in relation to new equity capital. This is effectively a tax allowable deduction against the taxable profits of a company.

    The change in law makes the tax treatment of equity finance the same as that for finance by borrowing. A key benefit of this change is that a parent company injecting capital will not receive interest from the funds … more

  • IN405 - The Opportunities Available Through Redomiciling a Company to Cyprus

    Redomiciliation of companies in to and out of Cyprus became possible in 2006, when the House of Representatives enacted a new law which amended the Company Law. This made it possible to transfer the domicile of a company either in to or out of Cyprus.

    In conjunction with the competitive tax advantages that Cyprus offers, including the lowest corporate tax rate in the EU, this law further … more

  • IN402 - Deadline to Submit Annual Returns for Cyprus Companies

    Obligations of Cyprus Companies

    A company registered in Cyprus must submit appropriate Audited Financial Statements and  an Annual Return (HE32) to the Registrar of Companies and Official Receiver. The Audited Financial Statements for the year ending 31 December 2014 should be sent with the Annual Return 2015.

    The Annual Return must be prepared within 14 days of the AGM and must be submitted … more

  • IN398 - Why is Cyprus an Attractive Jurisdiction for the Registration of Aircraft?

    In March 2014 the Cypriot Tax Authorities issued new guidelines for the  registration of private aircraft, making Cyprus one of the most attractive jurisdictions in the European Union.

    The guidelines clarified the VAT treatment provided through the Cyprus Aircraft Leasing Scheme, and the potential VAT rate for aircraft registration in the EU can be effectively reduced to as low as 5% if … more

  • IN275 - A Consideration of Shipping in the Jurisdictions of Cyprus, the Isle of Man, Madeira (Portugal) and Malta

    Dixcart can provide clients with a number of alternative ship registration solutions. 

    This note provides a brief overview of the shipping regimes in Cyprus, the Isle of Man, Madeira (Portugal) and Malta. More detailed information is available on request regarding shipping in each of the jurisdictions considered in this Article.

    Cyprus

    Cyprus is a major ship management centre attracting … more

  • IN384 - New Non-Domicile Regime - Making Cyprus Even More Attractive for Individuals

    Why Cyprus?

    Cyprus is becoming an increasingly attractive option for companies and individuals to consider relocating to. Attractive tax incentives exist and Cyprus offers a good corporate and residential location, enviable weather and a sound infrastructure. 

    Background

    On 9 July 2015 the Cyprus House of Representatives approved new tax laws which took effect on 16 July 2015. These changes … more

  • IN382 - Low Tax Trading Opportunities Using Cyprus, Malta and the UK

    It is possible for a company to be incorporated in one jurisdiction and to be resident in another. In certain circumstances this can generate tax efficiencies. 

    It is very important to always ensure that the company is properly managed and controlled from the jurisdiction in which it is resident.

    The jurisdictions of Cyprus, Malta and the UK present a number of opportunities, as detailed below. … more

  • IN373 - Low Corporate Tax Regimes within the EU: Cyprus, Ireland and Malta

    Cyprus, Ireland and Malta are sovereign members of the European Union. Cyprus and Ireland both offer the very competitive corporate tax rate of 12.5% whilst Malta provides very generous tax rebates in respect to the external distribution of dividends, resulting in an ‘effective’ corporate tax rate of 5%. 

    Local Substance

    The decision to use one of these three jurisdictions naturally depends on … more

  • IN372 - The Cyprus Yacht Scheme: April 2015 Revisions and a Further Potential Reduction in the VAT Payable

    Guidelines issued in March 2012 made Cyprus one of the most attractive jurisdictions for yacht registration in the European Union.

    On 30th January 2014 the Cyprus VAT Department updated the guidelines confirming the advantages of the Yacht Scheme and simplifying a number of the procedures.

    What is New?

    On 29th April 2015 the Cyprus VAT Department issued a new circular reducing the applicable … more

  • IN369 - Financial Benefits Available to Individuals Moving to Cyprus to Work or Retire

    Cyprus offers a number of advantages as a location in which to work or retire, the climate and Mediterranean lifestyle being just two of the benefits. In addition Cyprus offers a number of financial incentives. 

    Please refer to the end of this Article for details regarding the criteria for tax residence in Cyprus and the income tax rates applicable in this jurisdiction.

    Income Tax Relief … more

  • JNI - Formation of a Private Limited Company in Cyprus

    Why Consider the Jurisdiction of Cyprus?

    Cyprus is the third largest and third most populated island in the Mediterranean Sea. It is situated to the east of Greece and to the south of Turkey. Cyprus joined the European Union in 2004 and adopted the euro as the national currency in 2008.

    Factors contributing to and enhancing the status of the jurisdiction of Cyprus include:

    Cyprus is a member … more

  • IN363 - The Advantages in Locating a Forex Brokerage Firm in Cyprus

    In 2007 Cyprus adopted the Markets in Financial Instruments Directive (MiFID) which harmonised the regulation of investment services across the European Economic Area. This allows investment firms to operate throughout the European Union on the basis of authorisation in their member state (single passport). 

    In June 2009 the Cyprus Securities and Exchange Commission (CySEC) announced that Forex … more

  • IN357 - The Fast Track Cyprus Permanent Residence Permit and the Benefits it Offers

    From the second half of 2014, new, simplified, fast track procedures were introduced for issuing permits to non EU citizens (and their family members) who wish to invest in Cyprus by purchasing property.

    The procedure should not take longer than two months from the date of the application. Once the permit is issued the applicant's passport is stamped and a certificate is provided indicating that … more

  • IN348 - Why Cyprus is an Attractive Choice for the Location of an Investment Management Company

    The regulatory framework in Cyprus, the tax advantages that are available and the 2007 implementation of MiFID in this jurisdiction, make Cyprus one of the most favourable locations for establishing an Investment Management Company.

    The Markets in Financial Instruments Directive (‘’MiFID’’) harmonised the regulation of investment services across the European Economic Area members, allowing … more

  • IN326 - Razões para utilizar uma sociedade de Chipre

    Chipre é uma atractiva jurisdição internacional com um excelente regime para as sociedades de holding. A Dixcart possui um escritório em Limassol, podendo organizar eficazmente a formação e gestão de sociedades em Chipre.

    Este ano e até à data foram registadas cerca de 8.000 novas sociedades em Chipre (Janeiro a Setembro de 2014).

    Alguns dos benefícios acessíveis às sociedades estabelecidas em … more

  • IN326 - Reasons to use a Cyprus Company

    Cyprus is an attractive international jurisdiction with a very good holding company regime. Dixcart has an office in Limassol and can therefore efficiently organise the formation and management of companies in Cyprus.

    Approximately 8,000 new companies were registered in Cyprus between January and September 2014.

    Detailed below are some of the benefits available to companies established in … more

  • IN334 - The Cyprus Yacht Scheme - Attractive Potential Reduction in VAT Payable

    Guidelines issued in March 2012 made Cyprus one of the most attractive jurisdictions for yacht registration in the European Union (EU).

    This Yacht Registration and Leasing Scheme effectively reduces the VAT rate for yacht registration in the EU to as low as 4.6% and the VAT rate on lease payments to as low as 3.8%.

    On 30 January 2014 the Cyprus VAT Department updated the guidelines, confirming … more

  • IN284 - Cyprus - Moving Forward

    Whilst Cyprus endured a banking crisis in 2013, the jurisdiction remains an attractive international business centre.

    The EU bailout was primarily the result of an over sized banking sector in Cyprus that was heavily exposed to Greek debt. A "good" and a "bad" bank were created and losses in these two banks were imposed on the unsecured deposits of the two principal banks on the island. It is … more

  • HN44 - Cyprus - A Summary of Advantages

    Dixcart is celebrating two years in Cyprus and continues to assist clients with the management and control of companies on the Island.  

    The Cyprus corporate tax rate remains an attractive 12.5% and the Island offers many additional advantages for business:

    Holding Company Regime

    No withholding tax on dividends, interest and royalties.

    No tax on dividend income.

    No tax on income or gains … more

  • IN305 - Reasons why the Double Tax Agreement Between Cyprus and South Africa is so Attractive

    South Africa is one of the most sophisticated and promising emerging markets globally.

    The potential offered by the South African economy is evident in its diversity of sectors and industries. It has a modern and extensive transport infrastructure and  labour costs are priced competitively. 

    These factors together with the country's significant natural resources have made it a popular … more