Latest News & Insights

Exemption from the obligation of payment of a levy on the sale price of immovable property and shares

According to amendment N. 1(I)/2024 of the Central Agency of Equal Distribution of Burdens (Establishment, Objects, Responsibilities and Other Related Matters) Law which was published in the First Appendix of the Official Gazette of the...
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Introducing the concept of ESOPs in Cyprus

The concept of Employee Share Ownership Plans (ESOPs) is a useful tool for achieving an advantageous relationship between employees and shareholders. ESOPs have been internationally identified to simultaneously increase employee satisfaction and the financial wealth...
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Cyprus Tax Resident – To Be or Not to be?

Several factors attract individuals to become tax residents in Cyprus, including the fact that Cyprus is a member of the European Union, it has a well established international business and investment hub and of course...
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The Uses and Benefits of Cyprus International Trust

In the world of international wealth management and asset protection, the Cyprus International Trust (CIT) stands out as a powerful and versatile tool. Established under the Cyprus International Trusts Law of 1992, a CIT offers...
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Foreign Interest Entity-Cyprus Company to employ third country nationals

In order for a Cyprus company to be able to employ third country nationals, such company must be registered as a Foreign Interest Company. Since 1 January 2022 the Business Facilitation Unit (BFU)has been the...
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UBO Register-Final solution *New Submission Date*

Extension on the deadline for filing the UBO information to the final solution of the Register of Beneficial owners with the Registrar of Companies has been provided. The deadline has been extended to 29.02.2024. It...
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Transfer Pricing rules in Cyprus

On 30 June 2022, the Republic of Cyprus approved the new transfer pricing rules and documentation requirements which are in line with the recommendations of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax...
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Film Scheme in Cyprus

The government of the Republic of Cyprus has implemented a set of incentives to attract international producers to choose Cyprus as their filming location. These incentives include the option for production companies to receive either...
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Implementation of the final solution of the Beneficial Owner Register

Based on the announcement issued by the Registrar of Companies on the 10th of November 2023, the Final Solution of the electronic system of the Beneficial Owner Register begins on the 14th of November 2023....
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European Union’s updated list of non-cooperative jurisdictions for tax purposes

On 17 October 2023, the Council of the European Union (the “Council”) amended the EU list of non-cooperative jurisdictions for tax purposes (the “List”). The Council decided to add Antigua and Barbuda, Belize, and Seychelles...
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Catalysing Tax Reform in the EU:BEFIT, Head office tax and transfer pricing

On September 12th, the European Commission introduced a groundbreaking package of proposals aimed at streamlining taxation rules within the European Union (EU). This comprehensive initiative comprises three key components: Business in Europe: Framework to Income...
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Boosting Team Bonding and Spirit Through Hiking: Our Experience at Wealthmore Services Ltd

At Wealthmore Services Ltd, we understand the importance of team bonding and spirit in the workplace. That’s why we organized a hiking day for our team at Almirolivado/ Amiandos mine trail (Troodos area) on Friday...
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