The current law enacted as from 1 July 2016 and is fully compliant with the provisions of Article 5 of the OECD BEPS project following the “ Modified Nexus Approach” which this approach only allows to taxpayer to benefit from an IP regime to the extent that it can show that it itself incurred expenditures, such as R&D, which gave rise to the IP income.
The Minister of Interior has decided to issue an Immigration Permit to applicants from third countries, in cases where some conditions provided by Regulation 6(2) of the “Aliens and Immigration” Regulations are satisfied.
A branch or a representative office of an overseas company may be registered in Cyprus if within one (1) month of the establishment of the place of business, it registers itself as an overseas company with the Registrar of Companies in Cyprus.
The taxable income of companies, whether registered in Cyprus or not, which have their management and control in Cyprus will be liable to corporate tax at the rate of 12.5%, irrespective of whether the shareholders are Cyprus residents or not.
Securities nowdays are often required by the creditors for various transactions. One form of a security is a pledge over shares in a company, which by its nature is a possessory security interest and thus involves the delivery of possession, actual or constructive.