Cyprus Property Law Update: Accelerated procedure for granting Immigration Permit for third country nationals purchasing property in Cyprus

New guidelines have been issued by the Ministry of Interior concerning the accelerated procedure for granting Immigration Permit to applicants who are third country nationals and intend to invest in the Republic of Cyprus.  The relevant parts of the announcement are as follows: 1.      According to the provisions of Regulation 6(2) of the Aliens…

Tax Law Update: Cyprus Double Taxation Agreements

Cyprus has concluded numerous Double Tax Agreements whilst certain other agreements are pending enforcement. The main purpose of these treaties is the avoidance of double taxation on income earned in any of these countries. Under these agreements, a credit is usually allowed against the tax levied by the country in which the taxpayer resides for…