Cyprus Property Law Update: Planning Amnesty

The Ministry of Interior issued the following bulletin regarding the Town Planning Amnesty legislation which came into force on April 8 2011. The legislation aims at  simplifying and modernising the procedures  and legal provisions that eventually lead to the securing of updated title deeds by respective property owners. PLANNING AMNESTY BULLETIN LEGISLATION FOR THE MODERNISATION…

Banking Law Update: Stability fund set up

On the 14th of April 2011, the Cyprus Parliament unanimously passed the Bank Levy Legislation. The law establishes an Independent Financial Stability Fund for financial institutions. Provided that the totalamount of the  levy does not exceed 20% of the total taxable profits of the financial Institution, as these are assessed by the Director of Inland…

Cyprus Tax Update: Cyprus Double Taxation Treaties

Cyprus has entered into almost 50 double-tax treaties, most of which follow the OECD Model Convention.  The following countries are among those which have double-tax treaties with Cyprus: Azerbaijan Armenia Austria Belarus Belgium Bulgaria Canada China CIS (ex-USSR) Czech Republic Denmark Egypt Germany France Greece Hungary India Ireland Italy Kuwait Kyrgyzstan Lebanon Moldova Malta Mauritius…