News Blog

New home building permits up 41 per cent

The number of new homes in Cyprus for which building permits have been issued rose by 41.4 per cent in October 2017 compared to October 2016 according to the Cyprus Statistical Service. THE NUMBER of building permits authorised in Cyprus du...

17th January, 2018

Cyprus property taxes in 2018

A number of changes to Cyprus property taxes have been made in recent times, most notably the introduction of VAT on the sale of building land, which I have summarised together with other changes in this article. RECENT changes to proper...

5th January, 2018

Become a Cyprus tax resident in 60 days!

The Cyprus House of Representatives has recently passed a new bill amending the legislation on Income Tax, giving the opportunity to individuals who spend more than 60 days in a year in Cyprus, to acquire Cyprus tax residency. To qu...

5th December, 2017

CYPRIOT PASSPORT RANKED 12TH WORLDWIDE

The Cypriot passport has scored a passport rank of 12 worldwide, in the list of the Global Passport Power Rank featuring in the Power Index 2017. An investor may obtain a Cyprus citizenship by making an investment of a minimum of &e...

1st December, 2017

VAT OF 19% WILL BE IMPOSED ON LAND SALES IN CYPRUS

A VAT charge of 19% will be imposed on all commercial land sales in Cyprus from the 1st January 2018. According to the circular issued by the Cyprus Tax Department it is confirmed that no VAT will be imposed on the purchase or sale ...

20th November, 2017

Cyprus Value of building permits up 49.2%

The total value of building permits issued in the first seven months of the year increased by 49.2% and the total area by 41.6%, the Statistical Service of Cyprus reported on Thursday. During the period January – July 2017, 3.362 b...

13th October, 2017

Cyprus Golden Visa Program raises €4 billion

The Cyprus Golden Visa Program, which enables non-EU citizens to purchase Cypriot passports and residency permits by investing money in property and other sectors, has raised €4 billion. THE GOLDEN Visa Program that gives foreigners...

2nd October, 2017

Cyprus Business ties with China reach new level

The Cyprus- Chinese business ties have entered a new development stage, Chinese trade officials told a Business Forum organized on Wednesday by the Chinese Business Investors Association. Addressing the forum, Acting President of the Rep...

29th September, 2017

Cyprus real estate market booms

Thanks to the growing economy, new property tax incentives and the government’s golden visa scheme that offers Cyprus citizenship in exchange for cash investments, the Cyprus property market is booming. August saw a 27% increase in...

25th September, 2017