26 July 2017


The Income Tax Law of Cyprus has been amended with regards to the provisions relating to the definition of tax residency of individuals in Cyprus

Previously, the 183 day rule was enforced which has been replaced with new criteria of determining whether an individual is tax resident in Cyprus or not

The new criteria for determination of Cypriot tax residency for individuals states that if an individual does not remain in any other state for a period exceeding 183 days in the year of assessment and is not tax resident in any other state for the same year of assessment, then that individual will be considered tax resident in Cyprus if all of the below conditions are met:

21 July 2017

Cyprus Parliament passes the bill for Deputy Ministry of Shipping

Cyprus News Agency (CNA) recently reported that the Parliament of the Republic of Cyprus has passed a bill, which established a shipping ministry. According to

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13 July 2017

Drilling of Cyprus Field 11 “ Onisiforos” to commence

The drilling of Cyprus’ Block 11 “Onisiforos” will go ahead as scheduled this month, with tests expected to begin 12 July. The drilling will be

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6 July 2017

Cyprus – Tax Treatment of intra-group back-to-back loans

The Cyprus Tax Department has issued on 30 June 2017 a Circular in relation to the Tax Treatment of intra-group back-to-back financing arrangements, which becomes

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29 June 2017


Yesterday, the agreement for the establishment of an integrated casino resort in Cyprus was signed by the President of the National Gaming and Casino Supervision

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