Employment in Cyprus comes with taxes imposed on both workers and employers. They are computed under the payroll system which can be handled internally through the HR or accounting department or can be externalized. Below, we have gathered some of the most important aspects of payroll in Cyprus, as well…
The Cypriot trust law offers various tax advantages for those who want to open a trust in Cyprus. The law for Cypriot trusts and international trusts resembles the UK model for these types of financial instruments. Investors who want to open a trust in Cyprus have the following options: open…
The workforce in Cyprus is characterized by high education and diversity in skills. The labor market has been shaped by the country’s economic situation and different business sectors adjusted their need for employees according to the overall economic situation in the country. The employment rate in Cyprus improved as soon…
Foreign businessmen who want to open a hotel in Cyprus should know that the legislation related to the incorporation of the legal entity is similar to the general registration process applicable to all companies in Cyprus. Still, the legislation under which the accommodation industry operates requires the investors to obtain…
Citizens from EU Member States can enter Cyprus only on the basis of a valid passport or ID card and do not have to register for any type of stay that is less than three months. If they intend to stay longer and also find a job, individuals will have…
The share capital for Cypriot companies varies according to the type of company the investors chooses to open. The types of companies that can be incorporated in Cyprus, according to the Companies Law, are: the private company limited by shares; the public company limited by shares; the company limited by…
The Republic of Cyprus is a member of the European Union and any citizen of another European Union or European Economic Area (including Switzerland, Iceland, Lichtenstein and Norway) have the same residency rights as a Cypriot resident. Non-EU and non-EEA citizens must comply with different requirements for obtaining temporary or…
Cyprus has a very attractive tax regime and the taxation rates are considered low by international standards. This is one reason why foreign investors choose to open branches or subsidiaries in Cyprus in order to establish the presence of their international companies. Cyprus has signed double tax treaties with more…
Cyprus is a good location for foreign investments which are encouraged in the country. EU citizens are able to start a business in Cyprus without any restrictions. If you want to set up an IT company in Cyprus you will have to go through all the ordinary company incorporation steps.…
The legislation system of Cyprus is rather similar with the one in the United Kingdom. In fact, the Cyprus Company Law, cap. 113 is considered to be based on the English Companies Act 1948. Some modifications have been made in 2000 and 2001. All foreign entrepreneurs who come to set…
