On March 8, 2023, China officially submitted documentation to accede to the Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents, commonly known as the Apostille Convention. The Apostille Convention facilitates the use of public documents abroad by replacing the often long and costly legalization process by issuing a simple Apostille certificate. The…

Deprivation of citizenship In the below article 113 of the above-mentioned law, are listed all the possible ways a Cypriot national, who acquired the Cypriot citizenship by any of the available legal means, may lose the citizenship:(1) A citizen of the Republic who is a citizen according to registration or is a naturalized person, ceases…

On 6 July 2023, the Commissioner of Tax issued circular 6/2023 providing clarifications and guidance on the applicability of the Transfer Pricing (TP) Legislation applicable retroactively from January 1, 2022. The Circular presents simplified TP documentation on categories of transactions which do not exceed the threshold of €750.000, and thus do not create the obligation…

According the Cyprus Income Tax Laws, all companies that will have taxable income for tax year 2023 should submit to the Tax Authorities by 31 July 2023, a temporary tax return form (T.D6), based on their estimated taxable profits for the current year and pay the temporary tax in two equal instalments before or on…

The Migration Department of the Ministry of Inferior of Cyprus has published today the final changes of the Permanent Residency Permit requirements under the fast track procedure that will be enforced as of Tuesday 2nd May 2023: