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Cyprus Tax Facts 2019

This publication provides a brief overview of the Cyprus Tax Legislation effective as at the date of publication. It contains useful information about each particular tax law and it can be used by natural persons and/or legal entities in handling their tax affairs.

It should be clarified however that the tax information provided by this publication is of general nature and therefore it cannot substitute proper professional advice which is always given after serious consideration of the merits of each case.

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Cyprus Tax Facts 2019 (EN)

Cyprus Tax Facts 2019 (GR)

Cyprus Tax Facts 2019 (RU)

CYPRUS INVESTMENT PROGRAM: AMENDMENTS TO THE SCHEME

Based on the decision number 81.292, 84.068 and 84.957 dated 13/09/2016, 09/01/2018 and 21/05/2018, the Council of Ministers approved the following amendments to the Scheme, effective as of 13/02/2019:

  1. The investor must make a donation amounting to €75,000 to the “Research Promotion Foundation”. *
  2. The investor must make a donation amounting to €75,000 to the “Cyprus Land Development Corporation”. *
  3. The investor is required to maintain their investment for the period of at least 5 years from the date of naturalisation, previously the investor had to maintain their investment for at least 3 years.
  4. The investor can replace the investment, within the period of 5 years upon prior approval from the Ministry of Finance.
  5. Investment made in the Cyprus shipping industry will be considered as eligible criterion for the Cyprus Investment Program (CIP).
  6. The investor can now also make an investment in Registered Alternative Investments Organizations (UCITS), the UCITS will have the right/option to invest up to € 200,000 in the secondary markets of the Cyprus Stock Exchange.
  7. In case where residential property is acquired, and had already been used for the purposes of the Cyprus Investment Program (CIP), the investment amount increases from €2m to €2.5m. *
  8. The investment in Government bonds has been abolished.
  9. In case the investor invests in real estate development & infrastructure projects, the following documents must be provided to the authorities: *
    i) Planning permit;
    ii) Certificate of Completion, duly executed by the architect of the project;
    iii) In case where the property is under construction, at least 5% of the total value of the property must be blocked via a bank guarantee, the relevant amount will only be released to the Vendor upon completion of the property;
    iv) In case where there is a mortgage on the property to be acquired, a bank waiver letter must be in place.
  10. The applicant must be a holder of a valid Schengen visa.
  11. In the event that the applicant has submitted an application to another Member State for citizenship and the application has been rejected, the investor will not be able to apply for the Cyprus Investment Program.

Note: All remaining terms and conditions to the Program remain the same and a detailed analysis of the updated Program will be provided in our upcoming brochure.

* Changes effective from 15/05/2019

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RESIDENCE PERMIT FOR INVESTORS, ENTREPRENEURS AND FINANCIALLY INDEPENDENT PERSONS

Financially independent persons, investors in real estate as well as members and directors of Greek companies may apply for a residence permit in Greece.

  1. Investment in Immovable Property : The “Investor’s Permanent Residence Permit”
Who can apply?
  1. A person holding either personally or through a corporate entity the shares of which are fully owned by him/ her, in full ownership and possession, real estate in Greece. The value of the property must amount to at least €250 000.
OR
  1. A person having entered into a timeshare agreement or a lease for hotel accommodations or furnished touristic residences in a combined tourist facility in Greece. Their duration must be at least 10 years and their amount must be not less than 250 000 €.

The holder of an” investor’s permanent residence permit”, may be accompanied by the members of his/ her family. In that case, family members receive a personal residence permit which expires simultaneously with the permit of the sponsor.

The following persons are considered to be family members for the purposes of the foregoing:

  • The spouse
  • The direct descendants of the spouses or of either one of them, who are aged under 21 years old
  • The direct ascendants of the spouses
Duration of the residence permit:

 The residence permit is granted for 5 years. It may be renewed upon relevant application for further five- year periods for as long as the property remains under the ownership and possession of the applicant or the lease agreements remains in force and provided that all the relevant conditions required by law are fulfilled.

 

The sale of the property during the validity period of the residence permit to another non- EU citizen provides to the new buyer the right to be granted a residence permit. Simultaneously,  the residence permit of the seller is revoked.

Access to labour market: this type of residence permit does not provide access to labour market
  1. Financially Independent Persons
Who can apply?

Non- EU citizens having adequate resources at a level of steady annual income for the coverage of their living expenses may apply for a 2- year residence permit.

Such persons may also be accompanied by members of their families to whom a personal residence permit is granted.

Sufficient Income:

The condition for sufficient income must exist for each member of the family. The minimum income is 2000 euros/ month. Additionally, in case the person is accompanied by his family, this amount is increased by 20% for the spouse and 15% for each child.

The amount of the income may be proved by pension abroad, bank account or other proof that the person has its own sufficient income, of legal origin, to cover its expenses without being employed or exercise an independent economic activity in Greece.

Also, persons entitled to receive a pension from a Greek Institution of Principal Insurance may renew their residence permit, independently of the amount of the pension.

Duration of the residence permit:

The residence permit for financially independent persons is issued for 2 years and thereafter it may be renewed.

Access to labour market: this type of residence permit does not allow access to the labour market.
  1. Special purpose residence permit for members of boards of directors, shareholders, managers, legal representatives and senior managing officers of Greek companies as well as subsidiaries and branches of foreign companies
Who can apply?
  • – members of boards of directors,
  • – shareholders,
  • – managers,
  • – legal representatives and
  • – senior executives

of Greek corporate entities as well as subsidiaries and branches of foreign companies.

The aforementioned persons may be accompanied by the members of their family, who shall receive a permit for family reunification.

Conditions:
  • The company/ branch/ subsidiary is legally exercising a business activity in Greece.
  • Τhe Greek company/ business employs at least 25 persons.
Exception:
  • However, the requirement to employ at least 25 persons does not apply in case of members of boards of directors, shareholders, managers, legal representatives and senior executives of subsidiaries and branches of foreign companies legally exercising a business activity in Greece.
Duration of the residence permit:

This type of residence permit is issued for 2 years or for a period equal to the expected duration of the applicant’s stay in Greece. It is renewed every three years.

Access to labour market: the exercise of a specific profession is allowed.
ABSENCES FROM GREECE

In relation to persons having obtained a residence permit through investment in immovable property or persons who are financially independent, the law provides that periods of absence from Greece do not impede the renewal of the permit.

For all other residence permits mentioned hereinabove, the general provisions of the law apply. Consequently, the validity of the residence permit, is not affected by temporary absences which do not exceed six months per year or longer absences, such as in case of military service, or other serious reasons, such as pregnancy, motherhood, serious illness, studies or professional training in another member state or third country.

OUR SERVICES

 Our Firm provides legal advice and assistance in matters concerning the application by foreigners for residence permits.

 FOR FURTHER INFORMATION PLEASE FEEL FREE TO CONTACT US

This document does not amount to professional legal advice as it is only intended for information purposes.

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GOLDEN VISA : PERMANENT RESIDENCE PERMIT FOR INVESTORS IN REAL ESTATE IN GREECE

Law 4251 of 2014, also referred to as the Immigration and Social Integration Code, (as amended and hereinafter referred to as the “Law”), provides the opportunity to non- European Union nationals to obtain a permanent residence permit by investing in real estate in Greece. This is also known as the Golden Visa Program.

THE INVESTOR’S PERMANENT RESIDENCE PERMIT

According to the provisions of the Law, a citizen of a third country (i.e. non EU- national), having entered in Greece legally through any type of entry visa or already residing in Greece legally, is entitled to apply for a residence permit which is valid for 5 years in Greece, if :

  1. The said person holds either personally or through a Greek or EU- based corporate entity the shares of which are fully owned by him/ her, in full ownership and possession, real estate in Greece, with the value of the property amounting to at least €250 000.
  2. – The terms “value of the property” refer to the value mentioned in the sale contract (i.e. it is not a reference to the fair market value of the property).
  3. – The property may consist of several real estate properties. Their total value must be equal to or exceed €250 000.
  4. – In case of co- ownership of the property, the residence permit is granted only if the value of each percentage of ownership of each co- owner amounts to €250 000.
  5. – In case of co- ownership between spouses the residence permit is granted only if the property is owned jointly. This applies also in case of companions having entered into a civil partnership.
  6. – A person having acquired the property either through intestate succession, through a will or as a parental benefit may also benefit of this type of residence permit, provided he or she is over 18 years old.

OR

  • The said person has entered into a timeshare agreement or a lease for hotel accommodations or furnished touristic residences in a combined tourist facility in Greece. Their duration must be of at least 10 years and their amount not less than 250 000 €.
  • The applicant must pay the amount of the lease upfront, upon the execution of the relevant agreement.

The holder of an investor’s permanent residence permit, may be accompanied by the members of his/ her family. These family members, shall  obtain a personal residence permit. The residence permit of the said family members expires simultaneously with the residence permit of the sponsor.

The following persons are considered to be family members for the purposes of the foregoing:

  • – The spouse
  • – The direct descendants of the spouses or of either one of them, who are under the age 21 years old
  • – The direct ascendants of the spouses

DURATION OF THE INVESTOR’S PERMANENT RESIDENCE PERMIT

The residence permit is granted for 5 years. It may be renewed upon relevant application for another five- year periods for as long as the property remains under the ownership and possession of the applicant or the lease agreements remains in force and provided that all the relevant conditions required by law are fulfilled.

The sale of the property during the validity period of the residence permit to another non- EU citizen provides to the new buyer the right to be granted a residence permit. Simultaneously the relevant residence permit of the seller is revoked.

PROCEDURE

Step 1:           

Application for an entry visa for the Greek territory at the consulate authority of the applicant’s country of origin.

Step 2:           

Purchase of the property or entry into lease/ timeshare agreement and collection of the required supporting documentation.

Step 3:

Submission of the documents to the relevant authority and payment of the application fee amounting to € 2016. For family members above 18 years old the fee is 166 euros.

It is worth noting that the applicant is not required to submit the documents in person. As such, the filing of the application may be effected through a power of attorney. However, the applicant must enter the country in order to assign his representation to a lawyer, before the expiry of the relevant entry visa.

The applicant shall however need to provide his/ her fingerprints. They may effect this, either at the time of submission of the file or at a later appointment.

Step 4:           

Receipt of a document confirming submission of the application. The said document is valid for one year. The applicant may use it as temporary permit until the issuance of the final permit. This document will allow the applicant to travel freely to and from Greece. However it does not the applicant the right to travel to any other country within the Schengen area.

Step 5:           

Verification by the competent authorities of the application and documents submitted and issuance of the relevant decision/ residence permit.

ADVANTAGES

This type of residence permit allows you to:

  1. Stay in Greece continuously for the entire duration of the residence permit.
  2. Have access to public health and education, in the same terms and conditions as Greek citizens.
  3. Travel freely within the Schengen area, without a visa. The stay in the said countries must not exceed 90 days per six- month period. It also provides a right to multiple entries, without it being required to enter the Schengen area through Greece.
  4. Lease the real estate property or properties acquired in Greece and receive rent.
  5. Renew the residence permit as many times as the applicant wishes (so long as the conditions required by the Law remain fulfilled) for 5- year periods.
  6. Enter into the regimes for long- term residency or acquire the citizenship provided that the specific conditions required by law for accessing those regimes are fulfilled in addition.

Absences from Greece do not impede the possibility to renew of the residence permit.

FOR ANY FURTHER INFORMATION AND/ OR CLARIFICATION PLEASE FEEL FREE TO CONTACT US

*This document does not amount to professional legal advice as it is only intended for information purposes. 

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RESIDENCE PERMITS FOR OWNERS OF REAL ESTATE IN GREECE 2018

Law 4251of 2014, also referred to as the Immigration and Social Integration Code, (as amended and hereinafter referred to as the “Law”), provides the opportunity to non- European Union nationals to obtain a permanent residence permit by investing in real estate in Greece.

THE INVESTOR’S PERMANENT RESIDENCE PERMIT

According to the provisions of the Law, a citizen of a third country (i.e. non EU- national), having entered in Greece legally through any type of entry visa or already residing in Greece legally, is entitled to apply for a residence permit which is valid for 5 years in Greece, if:

 


 

1. THE SAID PERSON HOLDS EITHER PERSONALLY OR THROUGH A CORPORATE ENTITY THE SHARES OF WHICH ARE FULLY OWNED BY HIM/ HER, IN FULL OWNERSHIP AND POS-SESSION, REAL ESTATE IN GREECE, WITH THE VALUE OF THE PROPERTY AMOUNTING TO AT LEAST €250 000.

  • The terms “value of the property” refer to the value mentioned in the sale contract (i.e. it is not a reference to the fair market value of the property).
  • The property may consist of several real estate properties the total value of which must be equal to or exceed €250 000.
  • In case of co- ownership of the property, the residence permit is granted only if the value of each percentage of ownership of each co- owner amounts to €250 000.
  • In case of co- ownership between spouses the residence permit is granted only if the property is owned jointly.

OR

2. THE SAID PERSON HAS ENTERED INTO A TIMESHARE AGREEMENT OR A LEASE FOR HOTEL

ACCOMMODATIONS OR FURNISHED TOURISTIC RESIDENCES IN A COMBINED TOURIST FA-

CILITY IN GREECE, FOR A DURATION OF AT LEAST 10 YEARS, IN AN AMOUNT NOT LESS

THAN 250 000 €.

  • The amount of the lease must be paid upfront, upon the execution of the relevant agreement.

The holder of an investor’s permanent residence permit, may be accompanied by the members of his/ her family, to which a personal residence permit may be granted upon filing a relevant application. The residence permit of the said family members expires simultaneously with the residence permit of the sponsor.

The following persons are considered to be family members for the purposes of the foregoing:

  • The spouse
  • The direct descendants of the spouses or of either one of them, who are aged under 21 years old
  • The direct ascendants of the spouses

 

DURATION OF THE INVESTOR’S PERMANENT RESIDENCE PERMIT

The residence permit is granted for 5 years and may be renewed upon relevant application for another five- year periods for as long as the property remains under the ownership and possession of the applicant or the lease agreements remains in force and provided that all the relevant conditions required by law are fulfilled.

The sale of the property during the validity period of the residence permit to another non- EU citizen provides to the new buyer the right to be granted a residence permit along with the simultaneous revocation of the residence permit of the seller.

 

PROCEDURE

Step 1:

Application for an entry visa for the Greek territory at the consulate authority of the applicant’s country of origin (where applicable).

Step 2:

Purchase of the property or entry into lease/ timeshare agreement and collection of the required supporting documentation.

Step 3:

Submission of the documents to the relevant authority and payment of the application fee amounting to € 2016.

It is worth noting that the applicant is not required to submit the documents in person, and thus the filing of the application may be effected through a power of attorney, provided that the applicant has entered the country in order to assign his representation to a lawyer, before the expiry of the relevant entry visa.

Step 4:

Receipt of a document confirming submission of the application. The said document is valid for one year and may be used as temporary permit until the issuance of the final permit. This document will allow the applicant to travel freely to and from Greece, without however granting the applicant the right to travel to any other country within the Schengen area.

Step 5:

Verification by the competent authorities of the application and documents submitted and issuance of the relevant decision/ residence permit.

 

ADVANTAGES

  • Possibility to stay in Greece continuously for the entire duration of the residence permit and to have access to public health and education, in the same terms and conditions as Greek citizens.
  • Possibility to travel freely within the Schengen area, without a visa, provided that the stay in the said countries does not exceed 90 days per six-month period, with a right to multiple entries, without it being required to enter the Schengen area through Greece.
  • Possibility to lease the real estate property or properties acquired in Greece and receive rent.
  • Possibility to renew the residence permit as many times as the applicant wishes (so long as the conditions required by the Law remain fulfilled) for 5-year periods.
  • Absences from Greece do not impede the possibility for renewal of the residence permit.
  • Possibility to enter into the regimes for long-term residency or acquire the citizenship provided that the specific conditions required by law for accessing those regimes are fulfilled in addition.

 

December 2018

*This document does not amount to professional legal advice as it is only intended for information purposes.

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RESIDENCE PERMITS FOR INVESTORS, ENTREPRNEURS AND FINANCIALLY INDEPENDENT PERSONS

1. INVESTMENT IN IMMOVABLE PROPERTY : THE “INVESTOR’S PERMANENT RESIDENCE PERMIT”

WHO CAN APPLY?

1- A person holding either personally or through a corporate entity the shares of which are fully owned by him/ her, in full ownership and possession, real estate in Greece, with the value of the property amounting to at least €250 000.

OR

2- A person having entered into a timeshare agreement or a lease for hotel accommodations or furnished touristic residences in a combined tourist facility in Greece, for a duration of at least 10 years, in an amount not less than €250 000.

The holder of an” investor’s permanent residence permit”, may be accompanied by the members of his/ her family, to which a personal residence permit may be granted upon filing a relevant application and which expires simultaneously with the residence permit of the sponsor.

The following persons are considered to be family members for the purposes of the foregoing:

  • The spouse
  • The direct descendants of the spouses or of either one of them, who are aged under 21 years old
  • The direct ascendants of the spouses

Duration of the residence permit:

The residence permit is granted for 5 years and may be renewed upon relevant application for further five- year periods for as long as the property remains under the ownership and possession of the applicant or the lease agreements remains in force and provided that all the relevant conditions required by law are fulfilled.

The sale of the property during the validity period of the residence permit to another non- EU citizen provides to the new buyer the right to be granted a residence permit along with the simultaneous revocation of the residence permit of the seller.

Access to labour market: this type of residence permit does not provide access to labour market

 


 

2. FINANCIALLY INDEPENDENT PERSONS

Who can apply?

Non- EU citizens having adequate resources at a level of steady annual income for the coverage of their living expenses may apply for a 2- year residence permit.

Such persons may be accompanied by members of their families to whom a personal residence permit is granted.

Sufficient Income:

The condition for sufficient income must exist for each member of the family. The minimum income is 2000 euros/ month and in case the person is accompanied by his family, this amount is increased by 20% for the spouse and 15% for each child.

The amount of the income may be proved by pension abroad, bank account or other proof that the person has its own sufficient income, of legal origin, to cover its expenses without being employed or exercise an independent economic activity in Greece.

Persons entitled to receive a pension from a Greek Institution of Principal Insurance may renew their residence permit, independently of the amount of the pension.

Duration of the residence permit:

The residence permit for financially independent persons is issued for 2 years and may be renewed.

Access to labour market: this type of residence permit does not allow access to the labour market.

 


 

3. SPECIAL PURPOSE RESIDENCE PERMIT FOR MEMBERS OF BOARDS OF DIRECTORS, SHARE- HOLDERS, MANAGERS, LEGAL REPRESENTATIVES AND SENIOR MANAGING OFFICERS OF GREEK COMPANIES AS WELL AS SUBSIDIARIES AND BRANCHES OF FOREIGN COMPANIES

Who can apply?

  • members of boards of directors,
  • shareholders,
  • managers,
  • legal representatives and
  • senior executives

of Greek corporate entities as well as subsidiaries and branches of foreign companies.

The aforementioned persons may be accompanied by the members of their family, to whom a permit for family reunification may be granted.

Conditions:

  • The company/ branch/ subsidiary is legally exercising a business activity in Greece.
  • Τhe Greek company/ business employs at least 25 persons.

Exception:

  • The requirement to employ at least 25 persons does not apply in case of members of boards of directors, shareholders, managers, legal representatives and senior executives of subsidiaries and branches of foreign companies legally exercising a business activity in Greece.

Duration of the residence permit:

This type of residence permit is issued for 2 years or for a period equal to the expected duration of the applicant’s stay in Greece and is renewed every three years.

Access to labour market: the exercise of a specific profession is allowed.

 


 

ABSENCES FROM GREECE

In relation to persons having obtained a residence permit through investment in immovable property or persons who are financially independent, the law provides that periods of absence from Greece do not impede the renewal of the permit.

For all other residence permits mentioned hereinabove, the general provisions of the law apply, which provide that the validity of the residence permit, is not affected by temporary absences which do not exceed six months per year or longer absences in case of military service, or other serious reasons, such as pregnancy, motherhood, serious illness, studies or professional training in another member state or third country.

 


 

OUR SERVICES

Our Firm provides legal advice and assistance in matters concerning the application by foreigners for residence permits.

December 2018

 

*This document does not amount to professional legal advice as it is only intended for information purposes.

 

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Deputy Ministry of Shipping – Cyprus

In recent years, efforts have been made to upgrade and further develop the maritime industry of Cyprus.

When the Deputy Ministry of Shipping begun its operation, 168 companies were registered under the Cyprus tonnage tax system while today it has risen up to 191 companies in total.

The Deputy Minister of Shipping, Ms. Natasa Pilides stated that attempts are being made to simplify the procedures and modernize legislation so as to make Cyprus more competitive as a Register and as a maritime cluster. She also highlighted that attempts are being made to digitalize and modernize the Cyprus systems in order to make the Cyprus Registry even more attractive.

The budget of the Deputy Ministry for the year 2019 is 9.8 million euro compared to 8.1 million euros for the year 2018, i.e. an increase of 1.7 million euros. This is due to the large increase in the budget expenditure growth which is mainly because of the commercial shipping promotion and development activities.

The Deputy Ministry’s revenue for the year 2018 is estimated around 12 million euro while the indirect incomes of the maritime industry is estimated at 800 million euros which amounts to 7% of the GDP of the island. According to Ms. Pilidou, there are currently around 1100 seagoing ships and 600-700 small vessels under the Cypriot flag.

Based on these facts it is evident that the maritime industry of Cyprus is gradually evolving. The shipping fleet of Cyprus is the 10th largest worldwide and has 25% of the whole EU fleet. By continuously updating its services and striving for perfection in the field of shipping it will not be a surprise if Cyprus conquers the top in the near future.

Legal Update: Amendments to the Greek Tax Legislation

On 28/11/2018, the Greek Parliament voted important amendments to the Greek tax legislation such as the reduction of the property tax for the year 2019 for certain owners of real estate in Greece as well as a gradual decrease of the Greek corporate income tax.

More specifically, with a view to encourage investments and improve competitiveness of businesses, article 58 of the Greek Income Tax Code is amended so as to gradually decrease the tax rate applicable to profits from business activity of corporate entities from 29% (corporate income tax rate applicable today) to 25% for income earned as of the financial year 2022 and the following years.

As such, the Greek corporate income tax rate shall be reduced by 1% per year, applicable as of the income of the financial year 2019. Thus the income of the financial year 2019 shall be subject to a rate of 28%. Accordingly, for 2020 the tax rate shall be 27% and for 2021 the tax rate shall be 26%.

The Parliament, aiming to provide relief to the tax payers who are owners of low value real estate in Greece, further voted a decrease of the Greek property tax (ENFIA) for the year 2019.

According to the amendment introduced, specifically for the year 2019, when the total value of the real estate property held by a natural person which is subject to property tax, is up to the amount of 60 000 euros, the corresponding property tax shall be reduced by 30%. When the total value of the said real estate exceeds the amount of 60 000 euros, for the excess thereof, the amount of reduction of the tax (30%) shall be reduced by 0.7 euros per 1000 euros of the real estate and may not exceed 100 euros.

Our Yacht Registration Center provides Cyprus Leasing Structures

Our Yacht Registration Center provides Cyprus Leasing Structures, which constitute a generally acceptable ownership solution.

Owners utilizing our structures will be compliant with their obligations to the Cypriot Government/EU as VAT is paid to them over the life of the structure, albeit at a reduced rate, and the yacht is in free circulation throughout the EU. Use of our Cypriot solution scheme would allow importation and setting of the yacht in free circulation within the EU. Through the use of our Cypriot Solution, a reduced effective tax on acquisition and importation of a yacht is achieved on the basis of the provisions of the EU VAT Directive which provide that the long-term hiring of a means of transport is subject to VAT within the EU only to the extend it is used and enjoyed within the EU. Specifically, when the lessor is a company registered in Cyprus the charge to VAT for the services rendered is subject to the extent the pleasure boat is used within the European Union.  This applies irrespective of the lessee origin, i.e. whether the lessee is a Cypriot or non-Cypriot physical person or company.

Our Cyprus Leasing Solution provides owners with a complete solution due to the following:

  • The Cyprus Tax Authorities will treat the long-term hiring of means of transport on the basis of the provisions of the EU VAT Directive, which provide that the lease of a means of transport is subject to VAT within the EU only to the extend it is used and enjoyed within the EU.
  • Owners are strongly recommended to obtain an official and indemnified tax opinion on the solution from a reputable source. We, YRC as well as our affiliated partners InterTaxAudit who assisted in the development of our Cyprus Leasing Solution will gladly provide its valuable advice.
  • Every Leasing Structure requires pre-approval from the Cyprus Tax Authorities. The Tax Authorities’ intention is to examine any advance ruling applications on a case by case basis. We note that the final approval of the above scheme is upon the discretion of the Tax Authorities.

Mackrell International EMEA Regional Meeting

On the 16th to the 18th of November, the Mackrell International EMEA Regional Meeting took place in Brussels, Belgium.

The core meaning of this meeting was to network with other Mackrell International Members, discuss cross border matters and collaborative opportunities and to co-operate with the Business Development team so as to develop social media, practice group and promotional initiatives to which all members could contribute and as a result benefit from it collectively.

Mackrell International is an international legal network with lawyers from 60 different countries of the world, including 90 firms with 4500 lawyers in total.

Our firm, is an active member in this global network. Ms. Sanela Trzin, Barrister (England and Wales) and Cyprus Advocate in our Law Firm was invited and took part in a Business Development Panel Discussion addressing best practices in developing business for our Law Firm and how those can be applied to the network.