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Cyprus is being promoted as a leading Intellectual property (IP) holding jurisdiction following the introduction of a favourable tax regime in relation to income generated from any type of IP. The new favourable IP regime enables the reduction of taxable profits in cases where a Cyprus company is the owner of the IP rights. Together with the wide Double Tax Treaty network offered by Cyprus, the guaranteed access to EU Directives, as well as a variety of tax benefits, Cyprus has become a very attractive jurisdiction for IP investment holding structures. All types of intellectual property, as defined in the IP...

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Important Changes to the Cyprus Tax System

Defence Tax Related

Non domiciled persons are not subject to defence taxFor physical persons, defence tax was applicable on those who were Cyprus tax residents, and was applied on certain types of worldwide income (e.g. 17% on dividends, 30% on bank deposit interest, 3% on rental income). Cyprus tax residency for individuals is determined by the number of days each person spends in Cyprus on each calendar year (183 days).


On the 21st of December 2012 the Cyprus Parliament passed a Law regarding the special levy on all companies registered in Cyprus.

Law 190(I)/2012 amended the Law 117(1) of 2011 on Company Law by which introduced the annual levy on Cyprus Companies for the amount of €350 per annum, either the company is dormant or not.

EUROPEAN COMPANY Societas Europaea (SE) in Cyprus

The “Societas Europae” (SE) is a European public limited company which can be formed in any Member State of the European Economic Area. The formation and maintenance of an SE is governed by the European Statute which contains two parts: a Regulation and Directive on employee involvement which has to be reflected in national legislations of the Member States. The majority of the countries have already implemented the amendments to the national legislation, including Cyprus

A European Company can be set up in the following ways:

General Data Protection Regulation (“GDPR”)

  What is it?   Since the 25th of May 2018 the General Data Protection Regulation (“GDPR”), governs the processing and transfer of personal data of natural persons. Does it apply to me? It applies to undertakings (including natural and legal entities e.g. companies) which: process personal data as part of the activities of one of their branches established in the European Area  (“EEA”), irrespective of where the processing takes place; or  offer goods/services to, or monitor the behavior of individuals in the EEA despite being outside the EEA (Art. 3 GDPR).   Why is it important?  The burden of proof has shifted from the supervisory authority...

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