STAVROS KTISTIS
ACFIN
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MR BLAKEFIELD. REGAL CAPITAL. FLORIDA.
OUR JURISDICTIONS —
Cyprus
LAST UPDATED 11/04/2022
AT A GLANCE
The Mediterranean island of Cyprus is a republic and a member of the EU. Once a British colony, it has been independent since the early 60s. It joined the EU in 2004 and took up the Euro (EUR) as its currency in 2008.
Nicosia is the capital city of Cyprus and although the Republic has legal sovereignty over the entire island, Cyprus is de facto partitioned into two parts. To the south, just under 60% of the land is under the control of the Republic of Cyprus, while to the north, the rest is under the administration of the self-declared Turkish Republic of Northern Cyprus, covering around 36%. There is a UN buffer zone covering nearly 4% of the island.
Cyprus enjoys an open market economy with positive growth, mainly due to its services sector made up of financial services, real estate, and tourism.
Our local Tax Natives in Cyprus can tell you everything you need to know about the ins and outs of your tax obligations there. Whether you’re buying a single property, or doing complex business deals, we’ll get you the advice you need. Just say the word and we can link you with a local expert who can answer all your questions.
THE HEADLINES
- The corporate income tax rate in Cyprus is 12.5%
- The personal income tax rate is 35%
- Standard VAT rates stand at 19%
Tax experts in the region
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