Increasing the amount of the social contribution from the beginning of 2024
From January 1, 2024, the rate of contributions to the social insurance fund has increased in Cyprus.
Revised VAT Reduction Scheme for Purchasing or Building New Houses in Cyprus
The real estate market in Cyprus has recently witnessed significant changes to the Value Added Tax (VAT) reduction scheme for individuals interested in purchasing or building new houses. The goal is to increase income and provide benefits only to those who cannot afford to purchase real estate due to its high cost.
PAYMENT OF FINES ISSUED AFTER FIXING TRAFFIC VIOLATIONS BY TRAFFIC CAMERAS
You can pay the fine through the website www.jccsmart.com (the user will need to enter the serial number of the fine notice and vehicle registration number, and then proceed to pay by entering their bank card information).
NEW REQUIRMENTS FOR VISITORS
As from 1st of January 2023 the requirements for Visitors will change and will be as follows:
As for renewal of the status of Visitor’s will be as 1st of May 2023 as the last day of complying to the new rules.
New rules for permanent residency status, more in the pipeline
As from May 2, 2023, new rules came into effect for any third-country nationals who wish to obtain an expedient permanent residence because of their investments in Cyprus.
On 30/11/2022, the Council of Ministers approved the Amendment of the Policy for the Registration of Companies in the Register of Foreign Interest Companies.
The Decision modifies the eligibility criteria of foreign interest companies and specifically includes the criterion of a company’s obligation to prove an initial investment in the Republic of at least €200,000, which should be proven by presenting the appropriate certificates.