Cyprus welcomes Ukrainian refugees
Senior Associate and head of our Kyiv office, Anna Tsyvinska, has temporarily relocated to our Limassol office from where she continues to service our Ukrainian client base. In a recently authored article Anna explains the special measures introduced by the EU to provide rapid assistance to those seeking sanctuary from the Ukrainian war zone. These […]
Revision of Criteria for Investor’s Immigration Permit for third country nationals
Under the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, a third country national can apply for an Investor’s Immigration Permit, also known as a ‘fast-track’ Permanent Residency Permit, provided that certain investment criteria are met. On 24 March 2021, the Ministry of Interior announced new revisions of the investment criteria taking […]
New EU rules on promoting the free movement of citizens by simplifying the requirements for presenting certain public documents in the European Union
Under the Regulation adopted in 2016, new EU rules to cut red tape for citizens moving to or living in another EU country start to apply as at of 16th of February 2019 across the EU. Stamp and bureaucratic procedures are no longer required when presenting certain public documents issued in one EU country to […]
Supporting the Russian-speaking community in Cyprus
On 1 December 2017 Elias Neocleous & Co LLC and the Russian Centre for Science and Culture signed a Memorandum of Cooperation to support Russian-speaking people living in Cyprus and promote bilateral cultural, humanitarian and scientific cooperation between Russia and Cyprus, under which Elias Neocleous & Co LLC will provide legal advice to Russian-speaking residents […]
Tax Department guidance on the 60-day tax residence provisions for individuals
The Cyprus Tax Department has issued a circular setting out guidance on the new tax residence provisions for individuals introduced by Law No.119(I)/2017. With effect from 1 January 2017 individuals who meet all the following conditions in respect of a given tax year will be deemed to be tax-resident in Cyprus: They are physically present […]
Cyprus leads European citizenship by investment schemes
In a recent analysis of citizenship by investment schemes carried out by Professional Wealth Management, part of the Financial Times group, Cyprus was assessed to be the leading European country. The study covered twelve countries, five of which are in the Caribbean region, four in Europe, two in the Asia-Pacific region and one in the […]
Review of authorisations for Cyprus Investment Firms to undertake activities overseas
The Cyprus Securities and Exchange Commission has issued a circular (No C204 dated 4 May 2017) to Cyprus Investment Firms it regulates requiring them to review their existing third-country-passports to provide investment and ancillary services and undertake investment activities overseas, and to provide confirmation that all requisite authorisations are in place. Specifically, they should assess […]
Amendment of the Aliens and Immigration Law to transpose the EU intra-corporate transfer directive
The Law on Aliens and Immigration (Amendment) (No. 2) Law of 2017 (Law 9(I)/2017) amends the Aliens and Immigration Law (Cap 105) to harmonise its provisions with Directive 2014/66/EU of the European Parliament and of the Council of 15 May 2014 on the conditions of entry and residence of third-country nationals in the framework of […]
