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 […]

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 […]