A Double Tax Treaty was signed between Cyprus and Guernsey on 15 July 2014 in Cyprus and on 29 July 2014 in Guernsey respectively. The Treaty will enter on the 1st of January following the ratification of the Treaty. Further information on the provisions of the Treaty will follow. For more details on the extensive Cyprus double tax treaties, please contact us.
On the 25th of July 2014, in Nicosia, the Republic of Cyprus and Swiss Confederation signed a new agreement for the avoidance of double taxation regarding taxes on income and on capital.
Every Cyprus tax resident is taxed on all chargeable income accrued or derived from all sources in Cyprus and abroad. Individuals who are not tax residents of Cyprus are taxed on certain income accrued or derived from sources in Cyprus.
Over the last few years, Limassol's status as an International Maritime Centre has been reinforced. The number of shipping companies that choose Limassol to establish their headquarters is constantly increasing. In addition to the aforementioned, earlier this summer, on the 19th of June, the official opening of Marina in Limassol took place. It has already attracted a significant number of yacht owners and potential investors interested in purchasing property in the Marina area. For more information on the registration of vessels, please refer to our related articles: Shipping - Why Cyprus? The Cyprus Shipping Company In relation to the benefits that the Republic of Cyprus offers to the investors, the following articles may be of assistance: Guidelines for Cyprus Passport [for investors] Cyprus Passport by Investment [Frequently Asked Questions] If you require any clarification, please get in touch.