Cyprus is joining the Schengen Zone
Cyprus is joining the Schengen Zone: Why is this significant for third country nationals living in Cyprus with a residence permit? Currently, only Ireland and Cyprus among EU member states remain outside the Schengen Zone, which allows passport-free travel across much of Europe. However, on May 11, 2025, Cyprus President Nikos Christodoulides announced that the […]
Cyprus: ‘We will join the Schengen zone in 2026’
Cyprus is set to join the Schengen zone in 2026, President Nikos Christodoulides announced on Sunday. “We’re aiming for Schengen membership in 2026. A major technical effort is underway, and by the end of 2025, we plan to have completed all necessary preparations. This is our objective—as a state, we intend to be fully ready […]
Fitch Upgrades Cyprus Rating to ‘A-‘ With Stable Outlook
Fitch Ratings said it upgraded Cyprus’s long-term foreign-currency issuer default rating to A- from BBB+, with a stable outlook. Earlier this year, S&P Global Ratings raised its outlook on the nation to BBB+ with a positive outlook, and Moody’s upgraded Cyprus to A3 with a stable outlook. Fitch said Friday its upgrade follows a decline […]
Cyprus Naturalisation: Revised application criteria
On the 22nd of March 2024, the Ministry of the Interior announced the receipt and examination of applications for naturalization submitted in accordance with the provisions of the Population Register (Amendment) Law of 2023. The qualifications for naturalization, pursuant to article 111B(1) of the Population Register Law, which must be met cumulatively to submit an […]
Cyprus Business Now
With third country nationals receiving their work permits earlier through expedited procedures, the tourism industry is fully staffed and ready for the summer wave of tourists. Labour Minister Yiannis Panayiotou said over 95 per cent of applications for the tourism industry had already been examined. “Being fully staffed in view of the summer period has […]
Unlocking the Advantages of Cypriot Citizenship
Cypriot citizenship has become one of the top choices for those seeking new opportunities, not only within the European Union but globally. Did you know that holding Cypriot citizenship can bring incredible benefits, from freedom of movement and attractive business opportunities to an advanced education and healthcare system? Let’s explore the key advantages that Cypriot […]
Tax Policy in Cyprus: An Investment and Residency Haven
Introduction to the tax dystem in the Republic of Cyprus Nestled in the heart of the Mediterranean like a precious gem, Cyprus captivates not only tourists with its stunning white sandy beaches and millennia-old cultural diversity but also savvy investors from around the globe. Strategically positioned as a gateway linking Europe, the Middle East, and […]
Essential Information for Starting a Business in Cyprus
Why Consider Starting a Business in Cyprus? The Republic of Cyprus was once merely known as a “tax haven.” However, in recent years, the country has taken significant steps to enhance business transparency, earning credibility with financial institutions while maintaining its outstanding competitive advantages. Cyprus’ corporate tax rate is 12.5%, equivalent to Ireland, placing it […]
Cyprus Residence Card Investment: Latest Updates 2023
Permanent residence card program requirements in Cyprus Following recent updates As of May 2, 2023, the permanent resident card investment program in Cyprus, under the fast-track option, has specific requirements as follows: The latest dependent categories include: spouse of the primary applicant, minor children under 18, and dependent adult children up to 25 years old […]
Income Tax Law Amendments
On 22 June 2023, the House of Representatives passed additional amendments to the Income Tax Law with regards to Article 8(23A). The Article provides a 50% exemption from income tax on the remuneration of individuals employed in Cyprus, subject to certain criteria. The recent amendments are as follows: • The exemption will be granted if […]