Archive for Category: Cyprus Legislation

Cyprus 2018: Charging VAT on the Sale of Land by Individuals Conducting Economic Activities

As per the amendments to the Cyprus VAT Law N.95(I)/2000, authorities in Cyprus now imposes VAT to be charged on all sales of undeveloped building land by individuals exercising economic activities. What constitutes economic activities? Article 3 of the aforementioned VAT Law, precisely states business to mean any economic...

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Cyprus Property Owners to be Notified of Any Significant Change in Property Value

  Last week, the Cyprus supreme court passed legislation mandating the obligation to inform all property owners on the island of any significant change in the value of their property as reasonably held by the Cyprus Land Registry. The legislative proposal was passed by a unanimous vote in Cyprus...

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Cyprus Announces Limit on Passport-by-Investment Scheme

 The Council of Ministers has responded to criticisms and has announced that the island will be limiting the number of naturalisations of investors granted under the citizenship by investment scheme to 700 a year going forward, starting this year. The citizenship-by-investment scheme will also be renamed the “Cypriot Investment...

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