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Revised scheme for granting Cypriot citizenship

On September 13th, 2016 the Council of Ministers approved the revised scheme for granting Cypriot citizenship to non-Cypriot entrepreneurs/investors. The government wants to attract investors who will choose Cyprus as their basis of residence and economic activity. Investments should be kept for three years and companies in which investments are made should employ at least […]

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75% cut in property tax in 2016

A 75% cut in Property Tax in 2016! Also from 2017 onwards the immovable property tax will be abolished. If the payable Immovable Property Tax is paid after the 31st October and before the 31st December, a 2.5% penalty will be added to 25% tax, and total amount of the tax will be 27.5% of […]

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Cyprus Property Tax Reduced By 50%

Cyprus Property Tax Reduced By 50% It has been approved that the immovable property tax rate to be reduced by 50% and to abolish immovable property tax collected either by municipalities and communities. The Minister of Finance Mr. Harris Georgiades stated “Today we made another important step towards tax reform and reducing the tax burden […]

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Why to purchase a Property in Cyprus till the end of year 2016!!

Why to purchase a Property in Cyprus till the end of year 2016!! A number of non EU countries as Russia, China, some Arab countries and the others for last few years showed a great interest in purchasing Cyprus properties for obtaining Residence Permit or Cypriot Passport. Whoever the buyers are and whatever type of property […]

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