Digital Nomad Visa Scheme

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With its Decision of October 15, 2021, the Council of Ministers approved the introduction of the Digital Nomad Visa Scheme in Cyprus, with a ceiling of 100 residence permits to be issued.

What is the “Cyprus digital nomad visa”
The “Cyprus Digital Nomad Visa” Scheme allows nationals from non-EU and non-EEA countries, who can perform their work location independently using telecommunications technology, to reside temporarily in Cyprus and work for an employer registered abroad or perform work through telecommunications technology for companies or clients located abroad.

The Scheme’s goal is to strengthen Cyprus as a center for the provision of electronic services, where in combination with the other advantages offered by Cyprus, the attraction of digital nomads will contribute to the development of the business ecosystem and consequently to the economic development of the country. The introduction of the “Cyprus Digital Nomad Visa Scheme” is included in the Strategy for Attracting Businesses for Activities or/and Expansion of their Activities in Cyprus.

Declaration of Withheld SDC and GHS from Interest and Dividends through TAXISnet

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Please be reminded that the deadline for the electronic submission of the declarations for SDC and GHS contributions withheld on interest and dividend payments, made during the period from 1 January 2019 until 31 December 2021, is due on  31st of January 2022.

For payments made from 1 January 2022 onwards, the declarations must be submitted by the end of the month following the month in which the withholding was made (i.e. the deadline is the same date as the due date of the payment of SDC and GHS contributions withheld).

ACTION PLAN FOR ATTRACTING COMPANIES TO CYPRUS

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On October 15, 2021, the Minister of Finance, Mr. Konstantinos Petridis, presented the Action Plan / Strategy for attracting companies for activating and expanding their activities in Cyprus. The incentives given include immigration and employment, taxation, simplification and digitization of the procedures, as well as promoting the country as an attractive investment destination. The Plan enters into force on January 1, 2022.

2020 Income Tax Declaration T.D1 Employees & self-employed

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We would like to inform you that the Income Tax Declaration for individuals (TD.1 form) for the tax year 2020, is made available to the Taxisnet system.

In accordance with an amending Assessment and Collection of Taxes law published on 20 April 2021, due to the prolonged crisis and the adverse economic conditions caused by COVID-19, the deadlines for the electronic submission of the 2020 personal income tax return (TD.1) of individuals and payment of the final tax due as per the relevant income tax return is extended to 30 September 2021.

Newsletter – Beneficial Ownership Register

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Companies and any other legal entities incorporated in the Republic of Cyprus must obtain and hold adequate, accurate and current information on their beneficial ownership, including details of the beneficial interests held. The Law provides the establishment of a central beneficial owner register of the companies or other legal entities (“Entities” or “Entity”). The beneficial owner register (the “BO register”) is a centralized register that contains information about the beneficial owners of Entities that fall under the Law.

Tax Booklet 2021

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Tax Booklet 2021 March 2, 2021 2021_Tax-Booklet tax tax, Get in touch Whatever your question our global team will point you in the right direction Start the conversation Sign up for HLB insights newsletters Email Address* By submitting your email address, you acknowledge that you have read the Privacy Statement and that you consent to our processing data in accordance … Read More

Covid 19

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Given the recent developments relating to Covid-19, it is everyone’s duty to stay safe and keep our community safe.  We have made the decision that a high percentage of our teams will be working from home until further notice.

Covid 19 – Letter from CEO

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HLB Cyprus is taking appropriate measures to protect our staff, support our clients and ensuring business continuity.  Our firm remains fully operational servicing our clients needs.  We are continuously monitoring current developments in relation to the coronavirus pandemic and will adapt our approach as is necessary.