Cyprus Citizenship by Investment Program (CIP): Reminder of Obligations and Consequences of Non-Compliance. The Cyprus Citizenship by Investment Program (CIP) was suspended in November 2020. However, for citizens who obtained a passport under this program, the obligations remain in force. Failure to comply with these requirements may result in serious consequences, including revocation of citizenship. […]

The UK is one of the few countries that offered a special tax status — Non-Domiciled Resident (Non-Dom UK). This status first appeared in the United Kingdom in 1799 and will exist until 2025. On October 30, 2024, following the approval of the latest UK budget, the UK Government announced a series of measures, including […]

Wealthy taxpayers in the United Kingdom, along with leading tax experts and other stakeholders, have been discussing for months the possibility of a change to tax legislation in the UK, including the abolition of non-domiciliary tax status. The Main Partner Trust team of experts has suggested considering Cyprus as a potential alternative for tax residency. […]

The EU Blue Card is a type of residence permit that enables highly qualified professionals from outside the European Union to work and live in most EU member states (with the exceptions of Denmark and Ireland). EU Blue Card was created to address the shortage of skilled workers in certain industries and provides a streamlined process for highly skilled professionals and their families to relocate to the EU. Benefits of the EU Blue Card: The right to work: Holders of the EU Blue Card can work in any EU country and compete with locals. […]

Over the last few years, several significant events have impacted the lives of UK residents, including UK citizens (or permanent residents) who hold Russian passports. Brexit officially took place on January 31, 2020, when the UK formally left the European Union. However, the referendum in which UK residents voted to leave the EU was held […]

On 15 December 2020, the Cyprus Income Tax Law (“the Law”) has been amended to provide for an extension of the 20% exemption of salaried income for individuals relocating to Cyprus.

The experts of the first EY Attractiveness Survey Cyprus 2020, which is part of EY’s broader FDI (Foreign direct investment) Attractiveness program, reports that despite the pandemic Cyprus remains attractive as an investment destination in the new environment after COVID-19.

The EU Code of Conduct Group (Business Taxation) (the “Group”) issued a report on 20 November 2020, which was approved by ECOFIN on 27 November 2020, through which the Cyprus Notional Interest Deduction (NID) regime has been assessed as “not harmful”.

Aljona Sakharova and Elina Christofi joined the working committees of the Cyprus Fiduciary Association.