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Booming on Cyprus Property Market.

After a period of prolonged economic difficulties and stagnation in the Cyprus property market. The property experts are now saying that following new property tax incentives and the government’s golden visa scheme which offers Cyprus citizenship in exchange for cash investments. This scheme has attracted hundreds of non-European Union buyers every year since its introduction […]

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January 2, 2018! Cyprus is to impose VAT at a rate of 19 per cent.

  In 2004, Cyprus became a member of the European Union, and one of the EUs directives was that Cyprus had to charge 19% VAT on all building land sales.  The EU officials warned the government that Cyprus would be subject to being fined unless it brought the EU VAT Directive 2006 into its national […]

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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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