On Wednesday, February 26th, the President of Cyprus was presented with the key proposed tax changes, which will form the foundation of the upcoming tax reform. Here are the most significant updates: Dividends & Corporate Tax: Abolition of the “deemed dividend distribution” system. If you need a refresher on what this means, check our post […]

When drafting a Will in Cyprus, one of the key roles is that of the Executor—the person responsible for ensuring that the wishes of the deceased are carried out. Usually, duties of the Executor go far beyond simple administrative tasks. What are responsibilities of the Executor? Below are some of the key responsibilities an Executor […]

Many people assume that if they don’t leave a will, their assets will automatically pass to their close relatives without any complications. However, the rules of intestate succession in Cyprus are far from simple and can lead to unexpected consequences. Why is it important to have a Will in place? Without a will, assets are […]

Many expect Cyprus to become part of the Schengen Zone soon, but the reality is more complex. Despite its official intention to join, full accession in 2025 is highly unlikely. Why? Key obstacles: Lack of control over the entire territory Cyprus remains a divided island, and the buffer zone with Northern Cyprus creates challenges for […]

Cyprus has long been an attractive jurisdiction with a favorable tax system for both companies and individuals. However, the tax reform planned for 2025 could significantly change the rules of the game. For companies and high-net-worth investors residing on the island, this means one thing: timely adaptation is crucial. Why Is This Important? Tax changes […]

On December 20, 2024, the Cyprus Minister of Labour and Social Insurance issued Decree ΚΔΠ 455/2024, published in the Official Gazette, outlining mandatory employment terms that employers must disclose through the “Ergani” Information System. Under Article 11 of the Transparent and Predictable Working Conditions Law, amended in November 2024, all employers are required to register […]

What is asset protection It is a set of legal techniques dealing with securing assets of individuals and business entities from claims of creditors without perjury or tax evasion. So now as we know, what asset protection is, let’s move on to who shall consider it Obviously, those who have assets and the more you […]

Nowadays a trust can be described as a legal arrangement whereby the owner of certain assets (like real estate, art collection, portfolio of securities, cars, money) (so called settlor) transfers such assets to a legal or natural person (so called trustee) to keep and manage them for the benefit of another person or group of […]

Cyprus exhibits a rich linguistic landscape shaped by its history and diverse population. The official languages are Greek and Turkish, with Greek predominantly spoken in the southern part of the island and Turkish in the northern region. Additionally, several minority and foreign languages contribute to the island’s multilingualism. Official and Vernacular Languages:      Greek:  Approximately 80.9% […]