Travel to Cyprus

Archive for June 29th, 2011

The immovable property tax in Cyprus is based upon the value of the property on the 1^st of January 1980. If the value of the property at that time exceeds € 170.860,14 then the registered owner of the property must pay immovable property tax according to the following scales:

Value of Property at 01/01/1980 (Euro) Up to 170.860,14 170.860,15 – 427.150,36 427.150,27 – 854.300,72 over 854.300,73

Annual Property tax Exempt 2,5 0/00 3,5 0/00 4,0 0/00

 

Read more:

http://www.multilysis.com/tax-advice-consultancy.php

http://www.pirilides.com/en/cyprus/practices/taxation-law-in-cyprus/2

Capital gains tax in Cyprus is imposed on the gains accruing to any person from a disposal of immovable property. Capital gains tax is imposed at the rate of 20% on the gain.

The following allowances are given:

Capital gains tax is imposed on the gains accruing to any person from a disposal of immovable property. Capital gains tax is imposed at the rate of 20% on the gain.

The following allowances are given:

(a)    €17.086,01 personal allowance (can be used only once)

€85.430,07 from the disposal of a dwelling house, provided that the house was the main residence of the taxpayer for a total period of not less than five years prior to the disposal.

Read more:

http://www.pirilides.com/en/cyprus/practices/taxation-law-in-cyprus/2

http://www.multilysis.com/tax-advice-consultancy.php

 

The immovable property letting in Cyprus is regulated by the Rent Control Law of 1983. This law was originally drafted mainly aiming at the protection of the tenant, by regulating the landlord and tenant relationship in Cyprus.

This Law comes into operation when the tenant continues to occupy the rented property, after the expiration of the first period of lease, i.e. the rental period forming part of the original written agreement between landlord and tenant. This protection of the tenant applies and covers the case where in the meantime change of ownership takes place.

The intention of this Law is the protection of the tenants, who continues to occupy the property and consistently pay their rents, after the expiration of the initially agreed rental period.

Who is a Tenant?

A tenant, according to the Rent Control Law of Cyprus (1983), can be an individual or legal person (i.e. a company or any other corporation) resident of Cyprus or having headquarters in Cyprus. The Court through its case law has extended the term “tenant”, so as to include every European citizen or Company.

Who is a Landlord?

According to the Law, a “landlord” can be any individual or legal person that has possession or right of possession of the property and, in the event of subletting, the sub-tenant who is then considered to be in the position of landlord vis-a-viz his tenant.

Rent is the sum agreed to be paid as rent but common expenses are not included and unless the agreement suggests otherwise, the landlord is presumed to be liable for the payment of common expenses.

The letting is essentially an agreement between landlord and tenant.  Generally the Law does not interfere and is not concerned with the terms regulating the agreement between the two parties, but simply provides some limitations aiming at the protection of the tenant with regards to any increase of the rent or the grounds upon which the tenant may be ordered to vacate the same.

Read more: http://www.pirilides.com/en/cyprus/practices/property-law/10

The world population is growing rapidly and so is the demand for land. Land is a finite resource and thereof its value worldwide is constantly increasing. Increases in value are exacerbated by inflation and by the instability of the monetary systems and fiscal policies of advanced economies, making investment in immovable property more attractive. Cyprus is no exception!

The economic and social evolution that has taken place in recent years and the sophisticated methods of cultivation and industrialization, together with the earlier absence of alternative forms of investment, have diverted capital from both home and abroad to land ownership.

Since 1st of May 2004, Cyprus became a full member of the European Union and since the 1st of January 2008, Cyprus entered the Euro Zone.

Our Property Department is able to offer legal assistance to both sellers and purchasers of immovable property in Cyprus.

Cyprus’s location

The location of Cyprus in the eastern Mediterranean at the crossroads of Europe, Asia, the Middle East and Africa, its safe and protective legal system, in combination with its EU membership, the excellent climate and the friendliness and hospitality of its people, are just some of the reasons that have made Cyprus attractive to foreign investors.

Foreign investment in immovable property

Foreigners who seek to invest in immovable property in Cyprus may be classified in the following four main categories:

• Retired residents. These are people who settle permanently in Cyprus upon retirement. A series of incentives is given by the Cypriot government to retired people, including very low taxation of their income which emanates from abroad. These people pay also enjoy, under certain circumstances, the benefits of the double taxation treaty of their country of origin with Cyprus, if there is one. Cyprus has signed 40 such treaties, and many more are under negotiation.

• Employed residents. These are people who settle permanently in Cyprus upon retirement. A series of incentives is readily available to retired people, who mostly favour the island for its excellent weather conditions, its friendly and relaxed atmosphere and environment which combines sea side as well as villages & mountains. Further incentives are provided by the Cypriot government, i.e. the very low taxation of income emanating from abroad. These people may also enjoy, under certain circumstances, the benefits of the double taxation treaty of their country of origin with Cyprus, if there is one.

• Holiday makers and speculators. These people purchase property in Cyprus as holiday homes or as possible permanent places to live upon retirement, or to sell at a profit at a later stage. Profits realized by foreigners from the sale of immovable property may now be exported subject to capital gains tax.

• Business investors- These are foreign individuals and/or companies which acquire property in Cyprus for tourism or business office & industrial purposes, making use of the location and the climate of Cyprus, its excellent infrastructure and the various incentives offered for these purposes, especially in the area of taxation.

Price of land

The relatively small area of Cyprus and the great demand for immovable property, especially in recent years, have led to a considerable increase in the cost of land and accommodation in Cyprus. However, despite the increase, the prices, as well as the cost of living, are still comparatively lower than those in most European countries or holiday destinations..!

Legal advice

The complexity of the legislation on immovable property and the formalities which need to be considered when dealing in immovable property, render it necessary, especially when foreigners wish to invest in immovable property in Cyprus, to seek and obtain from the start reliable and efficient legal advice in order to avoid unpleasant results and future undesirable consequences. It is imperative that prospective purchasers seek and receive such advice from independent and impartial legal advisors.

Further, before entering into a contract for the purchase or sale of immovable property some should ensure that the legal representative conducts a search at the Land Registry to make sure that the property is free from any encumbrances, charges or burdens.

N. PIRILIDES & ASSOCIATES LLC is able to offer assistance in:

• Conducting due diligence on Property;
• Drafting Property Sales Agreements;
• Providing advice on the Acquisition of Property in Cyprus by foreigners and non residents;
• Estate Planning and Administrations;
• Wills, Probate and Re-sealing of Estate Administration etc

Charges and fees payable with relation to the Purchase, Sale and Ownership of Immovable Property

The purchase, sale or simply the ownership of immovable property in Cyprus entails financial obligations to the purchaser, seller or owner of such property. Below we list some of these obligations:

Revenue Stamp Duty

Any contract of sale, according to the Stamp Law, requires the payment of revenue stamp duty according to the purchase price.

Failure to pay revenue stamp duty on a contract of sale of immovable property does not render the contract void. However without the payment of revenue stamp duty a party may not use file the agreement at the Land Registry or use it in legal proceedings. Contracts may be stamped at a later date if they are to be used in legal proceedings; however a penalty fine is then imposed according to the value and the date of execution of the relevant contract.

Transfer fees

Transfer fees are payable by the purchaser on the purchase price or under certain circumstances, on the current market value and cumulatively with each scale:

- If the value is up to €85.430 the transfer fee is 3%
- If the value is between €85.430 to €170.860 the transfer fee is 5%
- If the value is from €170.861 and above the transfer fee is 8%

Immovable Property Tax

Subject to the exemptions listed below, immovable property tax is imposed on the market value of immovable property as at the 1st January 1980 and is calculated on the immovable property owned by the taxpayer on 1 January of each year.

If the value of the property at that time exceeds € 170.860,14 then the registered owner of the property must pay immovable property tax according to scales.

The following properties are exempt from immovable property tax:

• Public cemeteries
• churches and other religious buildings
• public hospitals
• schools
• immovable property owned by the Republic, foreign embassies and consulates
• buildings under a preservation order subject to conditions
• buildings of charitable organizations
• agricultural land used for agriculture or animal husbandry by a farmer
• immovable properly situated in inaccessible or depressed areas
• property of a missing person under administration.

Capital Gains Tax

Capital Gains Tax is levied at the rate of 20% on gains realized from the disposal of immovable property, including gains from the disposal of shares in private companies which own immovable property.

The following categories of disposals are exempt from Capital Gains Tax:

• Transfers by reason of death;
• Gifts between relatives up to the third degree of kindred;
• Gifts to limited companies all the shareholders of which are members, and continue for 5 years after the gift to be members, of the family of the donor;
• Gifts by family companies to their shareholders, but only in cases where the property given was originally acquired by the company as a gift;
• Gifts to charitable institutions or to the Republic of Cyprus;
• Exchanges of immovable properties; and
• Compulsory acquisitions.

In assessing the gain the following will be deducted fro the price received:

• The assessed market value of the property as at 1st January 1980, or the price paid or the consideration given for the acquisition of the property, if the property was acquired after 1st January 1980;
• The subsequent increase in the value of the property due to inflation, which is calculated in accordance with the Retail Price Index issued every month by the Department of Statistics;
• In sales of agricultural land by farmers, the first Euro 25,630 of the sale price, provide that the farmer was residing in the same area at the time the sale;
• In sales of property used as a residence by the vendor, the first Euro 85,430 of the sale price, provided that he has been using the same as his residence for at least 5 years prior to the sale; and
• In all sales, the first Euro 17,090 of the sale price.

These deductions are granted once only, unless they have not been exhausted by the first sale, in which case any balance would be carried forward.

Other Charges

Owners of immovable property are also subject to other forms of minor taxation, such as municipal or village rates, sewage fees and refuse collection charges, ranging from Euro 85,43 to Euro 170,86 per annum.

Restrictions on the Purchase, Sale and Ownership of Immovable Property

1.1 The Acquisition of Immovable Property (Aliens) Law

The word ‘alien’ in this law should not be interpreted in its strict meaning (i.e. enemies) but as meaning ‘foreigners’ or ‘non-Cypriots’.

According to this law, foreigners purchasing immovable property in Cyprus, apart from following the general rules which regulate such transactions, are also obliged to adhere to special formalities and are faced with certain restrictions, which are aimed at the proper control of foreign investments and the protection of foreign investors.

The term ‘foreigner’ or ‘alien’ is defined as any person not being a citizen of the Republic of Cyprus and includes a local company controlled by non-residents (international business), a foreign company and a trust in favour or a foreign person. It does not include:

• Non-resident Cypriots
• Foreign wives of citizens of the Republic not living apart from their husbands under a decree of a competent court; or
• From 1st May 2004, citizens of Member States of the EU permanently residing in Cyprus or European companies having their main base in Cyprus.

‘Trust in favour of a foreign person’ means any kind of trust of which the beneficiary or one of the existing beneficiaries is a foreigner will not be the absolute owner but will have ownership for the benefit of another or where ownership will be held on trust for his benefit.

The term ‘acquisition’ of immovable property’ includes:

• The grant or purchase of lease of immovable property for a period exceeding 33 years;
• The acquisition of shares in a company which is duly registered as a legal entity in the Republic or in the Sovereign Base Areas and which (in either case) has acquired immovable property in the Republic or the Sovereign Base Areas, taking into account that if a majority of shares in the company belong mainly to foreigners, the company is considered as ‘controlled by non-residents’; and
• The formation of a trust in favour of a foreigner which involves, wholly or partly, the leasing of immovable property falling within the provisions of a lease for a period exceeding 33 years or a shareholding in a company falling within the provisions described above.

Under the Acquisition of Immovable Property (Aliens) Law, no foreigner can acquire immovable property without the prior permission of the Council of Ministers. Normally permission is granted to bona fide foreigners to acquire a flat or a house or a piece of land not exceeding three donums (about 4000 m2) for the erection of only one house for use as a residence only by the purchaser and his family.

Members of the family of an original purchaser may also acquire their own property, provided that they are completely independent of the purchaser, both financially and residentially, such as married children having their own family and business. Permission is given for personal use, and not for letting or commercial use. International companies are permitted to acquire business premises, as well as houses or flats as residences for their members or directors.

Although it may take up to 12 months for the Council of Ministers’ permit to be obtained, purchasers are entitled to occupy their properties in the meantime.

After the permit has been granted and the property registered in the name of the foreigner, no further restriction is imposed on him and he may sell or dispose of it by will or other instrument. Moreover, the legal heir is not required to obtain a permit in order to have the property registered in his name.

Foreigners are now also entitled to borrow money for the purchase of immovable property upon mortgaging such property to the bank from which they borrow the money.

It is to be noted however that as from the 1st of May 2004, when Cyprus became a member of the European Union, Europeans may acquire immovable property in Cyprus without a license from the council of Ministers but only land and building sites or for investments purposes. For houses and flats the restrictions remain as long as they are not considered “investment” but “secondary residence”, i.e. residence other than the permanent residence. The same applies to legal entities set up in Europe. On the other hand Europeans permanently residing in Cyprus or European companies based in and conducted from Cyprus may acquire immovable property without restrictions.

The Exchange Control Law, the Central Bank of Cyprus Law and the Movement of Capital Law

The Exchange Control Law provides that the export of funds by Cypriots or foreigners and all money transactions with foreigners are subject to the approval of the Central Bank of Cyprus in its capacity as Exchange Controller.

The Exchange Control Law has been effectively repealed and replaced by the Movement of Capital Law which provides that all movement of capital and payments between residents of Cyprus and residents of EU member states or third countries may be carried out without restrictions. However, it does not remove the restrictions currently imposed on the movement of Capital by residents of third countries which involves direct investments, including the acquisition of immovable property.

Foreigners who sell immovable property in Cyprus may export immediately the proceeds of sale, subject to capital gains tax.

Due to the harmonization with the acquis communautaire of the European Union and in order to encourage foreign investment in Cyprus, the Government has liberalized its exchange control rules in relation to investment by non-residents in Cyprus. Since 7 January 2000 all restrictions on the percentage of foreign participation in most enterprises in Cyprus (including the share capital of a Cypriot company listed on the Cyprus Stock Exchange) have been abolished, provided that the maximum foreign equity participation remains at 50%.

Limitations applicable under other laws or regulations remain in force, e.g. the Acquisition of immovable Property (Aliens) Law which is described above, though, even in this sector; there is a differentiation between citizens and firms of member states of EU and other foreigners. Foreign investors will also have to prove that their new ventures will not pollute the environment, damage the economy or constitute a severe risk.

Conclusion

This article on acquiring immovable property in Cyprus is intended to give purchasers & sellers and more particularly foreign investors wishing to invest in the Cyprus property market, a general outline of the financial implications and restrictions on purchasing, selling and owning immovable property in Cyprus.

Legal Advice should be sought prior to entering into any agreement as there is complexity in the legislation on immovable property and there are various formalities which need to be considered; i.e. before entering into a contract for the purchase of immovable property, the legal advisor should conduct a search at the Land Registry to make sure that the property is free from any encumbrances, charges or burdens.

Read more: http://www.pirilides.com/en/cyprus/practices/property-law/10

 

Immovable property held in Cyprus is subject to the Immovable Property Tax which is levied by the State every year on all Immovable property held, and the tax is based on the market value of the property as on the 01.01.1980. Tax is imposed on all the property held as on the 1^st day of January of every year irrespective of whether this has been sold (but not yet transferred in the name of the new owner) or not.

The tax rates applicable are as follows:

Total property value as at 1.1.1980	Tax rate %
Up to €170.860,14	NIL
€170.860,14 – €427.150,36	25
€427.150,36 – €854.300,72	35
Over  €854.300,72	40

The tax is payable before the 30^th of September of each year. The Immovable Property Tax is the same irrespective of the use of the property or the period it is occupied.

In the case of developers (legal entities or individuals), since these persons are, by and large, owners of high value properties or owners of many properties the total value of which is high, the Immovable Property Tax imposed is calculated on the highest rate of tax.

This tax, as already mentioned, is imposed on the value of the properties held as at the 1^st of January of each year irrespective of whether a property has been sold but not yet registered in the name of the new purchaser. If the same property was registered in the purchaser’s name, the tax imposed would probably have been less or even nil.

According to section 7(3) of the Immovable Property Tax Law, in case of such sale, the purchaser can apply to the Director of the Inland Revenue and claim back the tax so overpaid, subject to certain conditions being satisfied. In such a case the seller has to provide a certificate to the purchaser on which the Immovable Property Tax corresponding to the property in question paid should appear.

The conditions that have to be fulfilled are:

a)   The purchaser should produce to the Director the relevant contract of sale and any other particulars proving that the said tax has been added to the sale price of the said immovable property;

b)   The provisions of section 2 of the Sale of Land (Specific Performance) Law have been complied with; and

c)    The purchaser much prove that together with the tax paid as aforesaid, he/she has paid tax exceeding the amount of tax properly imposable upon him.

Read more: http://www.pirilides.com/en/cyprus/practices/taxation-law-in-cyprus/2

 

Important information related to buying property in Cyprus.

According to Cyprus Law, purchasers need a written contract of sale, which will have to be properly stamped and lodged at the Land Registry Office for specific performance purposes. This provides purchasers with the security of a legal charge over the property, which will remain up until the time of transfer of the title deed to their name.

The purchasers must lodge the contract of sale at the Land Registry within two months from the date of signing; otherwise the purchasers will not be able to specifically enforce the transfer of the property through a Court in Cyprus, but will only have a claim in damages for breach of contract, in the event that the Vendor fails to transfer title unto their name.

Non-EU Nationals are restricted as to the size and type of the property (other than land) that they wish to purchase. They are only entitled to purchase one apartment, one house or a building plot or land up to 4014 sq. m.

However, a Cyprus company may also purchase premises for business purposes and for the residence of their foreign employees provided that they have a fully fledged office within the Republic. The Council of Ministers (now the District Officer) may at times approve the acquisition of a larger piece of property by foreigners subject to the land being used for tourist development and/or if this property is in an area where the State intends, to promote the tourist industry. This approach is also adopted by the Republic within the Industrial sector.

Non-European citizens and European non-residents of Cyprus must apply to the Ministry of Interior for permission to acquire immovable property in Cyprus.

Nationals of EU member states that are resident or work in Cyprus may purchase as much property as they wish. Such residence is ascertained by the local District Administration Offices.

Nationals of EU member states who are not resident and/or who do not work in Cyprus are restricted as to the size and type of the property (other than land) that they wish to purchase. They are only entitled to purchase one of the following that is to say one apartment, one house or a building plot or land up to 4.014 sq. m.

Cyprus Companies whose shareholders are EU-nationals, who live or work in the Republic, do not need a permit to own any kind of immovable property in Cyprus. If the shareholders do not live or work in Cyprus, then they need a permit to own immovable property in Cyprus.

Companies which are registered in any member state of the EU do not need a permit to own land in Cyprus but they need a permit to own a house or apartment.

European citizens can buy land without having to obtain any form of permission.

As soon as the above permissions have been obtained and as soon as a separate title deed has been issued by the Land Registry, the Purchasers will then be in a position to accept transfer of the title deed into their names.

Any company that is registered in any country of the EU and which has its registered office and/or activities in Cyprus will be allowed to purchase immovable property in Cyprus without having to apply for the above said permissions/permits.

Read more: http://www.pirilides.com/en/cyprus/practices/property-law/10

 

Information related to Cyprus Acquisition of Immovable Property

For Non-EU nationals, the Acquisition of Immovable Property (Aliens) Law Cap 109 applies.

Non-EU nationals are restricted as to the size and type of the property (other than land) that they wish to purchase- they are only entitled to purchase one of the following that is to say:

1. one apartment,
2. one house,
3. Or a building plot or land, up to 4,014 sq.m.

Non-EU nationals must obtain the prior permission of the Cypriot Council of Ministers-recently delegated to the District Officer of each District.

Cyprus Companies whose shareholders are EU-nationals, who live or work in Cyprus do not need a permit to own any kind of immovable property in Cyprus.

Companies registered in EU member states do not need a permit to own land in Cyprus but need a permit to own a house/apartment.

International Business Companies may purchase premises for business purposes and for the residence of their foreign employees provided that they have a fully fledged office in the Republic. The Council of Ministers (now the District Officer) may at times approve a larger piece of property by foreigners subject to the land being used for tourist development or if the land is in an area where the State intends to promote the tourist industry.  The same applies within the Industrial sector.

Read more http://www.pirilides.com/en/cyprus/practices/property-law/10

 

Real Estate Purchasers from all countries around the world prefer to purchase property in Cyprus because of low taxation, low costs, high standards of living, the hospitality of the local population, the excellent all year round climate, safety and security. The island has one of the most advanced and reliable Land Registry Offices in the world and a banking system equal to other developed European countries.

Cyprus maintains an effective Land Registry system in which all “immovable property” (a term that includes both land and property) is registered.

Each piece of immovable property has an associated:

• Registration Certificate (also known as a Title Deed) containing information such as the owner(s), its size and location and the Land Office reference;
• An accompanying Site Plan that situates the land on a map.

The Acquisition of Immovable Property (Aliens) (Amendment) Law 54(I)/2003 brought about some changes to the old policy relating to the acquisition of immovable property by EU nationals or legal bodies.

• NON EU NATIONALS

With relation to the Non-EU nationals, the acquisition of Immovable Property (Aliens) Law Cap. 109 has not been amended and the same provisions continue to apply.

More specifically non-EU nationals must obtain the prior permission of the Cypriot Council of Ministers, a power which has been recently delegated to the District Officer of each District. The approval process may take between three to six months.

Non EU Nationals are restricted as to the size and type of the property (other than land) that they wish to purchase. They are only entitled to purchase one apartment, one house or a building plot or land up to 4014 sq. m.

However, a Cyprus company may also purchase premises for business purposes and for the residence of their foreign employees provided that they have a fully fledged office within the Republic. The Council of Ministers (now the District Officer) may at times approve the acquisition of a larger piece of property by foreigners subject to the land being used for tourist development and/or if this property is in an area where the State intends, to promote the tourist industry. This approach is also adopted by the Republic within the Industrial sector.

Central Bank Exchange Control Regulations

 

From the 1^st of February 1997 and onwards, the acquisition of property in Cyprus by foreigners and Cyprus Companies is not subject to the foreign exchange controls. Thus, on disposal of the property the whole amount can be exported, after the tax obligations have been met.

Our firm has the legal expertise and experience to advise and assist local and international clients on all matters relating to the purchase of immovable property in Cyprus and finding the most practical solution for their deal. Our services include drafting the contract of sale, acquiring approval from the Council of Ministers for our non-EU clients, transfers at the Land Registry Office and ensure that all the registration requirements are complied with.

Read more http://www.pirilides.com/en/cyprus/practices/property-law/10

 

Cyprus Property Law - http://www.pirilides.com/en/cyprus/practices/property-law/10

Real Estate Purchasers from all countries around the world prefer to purchase property in Cyprus because of low taxation, low costs, high standards of living, the hospitality of the local population, the excellent all year round climate, safety and security. The island has one of the most advanced and reliable Land Registry Offices in the world and a banking system equal to other developed European countries.

Cyprus maintains an effective Land Registry system in which all “immovable property” (a term that includes both land and property) is registered.

Each piece of immovable property has an associated:

• Registration Certificate (also known as a Title Deed) containing information such as the owner(s), its size and location and the Land Office reference;
• An accompanying Site Plan that situates the land on a map.

The Acquisition of Immovable Property (Aliens) (Amendment) Law 54(I)/2003 brought about some changes to the old policy relating to the acquisition of immovable property by EU nationals or legal bodies.

Procedure for acquiring property in Cyprus

 

• BY EU NATIONALS

Nationals of EU member states that are resident or work in Cyprus may purchase as much property as they wish. Such residence is ascertained by the local District Administration Offices.

Nationals of EU member states who are not resident and/or who do not work in Cyprus are restricted as to the size and type of the property (other than land) that they wish to purchase. They are only entitled to purchase one of the following that is to say one apartment, one house or a building plot or land up to 4.014 sq. m.

Cyprus Companies whose shareholders are EU-nationals, who live or work in the Republic, do not need a permit to own any kind of immovable property in Cyprus. If the shareholders do not live or work in Cyprus, then they need a permit to own immovable property in Cyprus.

Companies which are registered in any member state of the EU do not need a permit to own land in Cyprus but they need a permit to own a house or apartment.

Central Bank Exchange Control Regulations

 

From the 1^st of February 1997 and onwards, the acquisition of property in Cyprus by foreigners and Cyprus Companies is not subject to the foreign exchange controls. Thus, on disposal of the property the whole amount can be exported, after the tax obligations have been met.

Our firm has the legal expertise and experience to advise and assist local and international clients on all matters relating to the purchase of immovable property in Cyprus and finding the most practical solution for their deal. Our services include drafting the contract of sale, acquiring approval from the Council of Ministers for our non-EU clients, transfers at the Land Registry Office and ensure that all the registration requirements are complied with.

http://www.pirilides.com/en/cyprus/practices/property-law/10

 

Компания – Мультилисис Сервисес Лимитед, всегда готова предоставить подробную информацию, касательно учреждения холдинговых компаний на Кипре.

Известен факт, что Кипр предоставляет множество возможностей в сфере международного налогового планирования. Одна из таких возможностей – применение структур кипрского  холдинга.

Налоговые привилегии  учреждения холдинговых компаний на Кипре:

• Доходы полученные в виде дивидендов не облагаются налогом (за редким исключением).
• Доходы от продажи акций не облагаются налогом на прибыль.
• Доходы от прироста капитала не подлежат налогообложению (за исключением недвижимого имущества находящегося на Кипре).
• Доходы от ликвидации дочерних предприятий (за пределами Кипра)  не подлежат налогообложению.
• Прибыли от деятельности постоянного представительства (вне Кипра) не облагаются налогом.
• Денежные переводы доходов в виде дивидендов, роялти или процентов не подлежат налогообложению, вследствие существования  соглашений  об избежании двойного налогообложения, а также директивы ЕС касательно материнских и дочерних предприятий.
• Отсутствие налога при выплате дивидендов кипрскими холдинговыми компаниями  своим акционерам-нерезидентам.

Благодаря указанным выше налоговым привилегиям (включая полное отсутствие налога на доходы в виде дивидендов), а также существованию обширной сети соглашений об избежании двойного налогообложения, можно с уверенностью сказать, что Кипр является наилучшим местоположением для учреждения холдинговой компании, на территории государств-членов Европейского Союза.

http://www.multilysis.com/?lang=ru http://www.pirilides.com/ru