On 19/12/2023 an amendment to the Civil Registry Law was published in the Official Gazette of the Republic of Cyprus. The new legislation, among other things, allows highly skilled foreign employees in companies which are set by the Council of Ministers’ decision, in the intervals of attraction of companies for business and/or expansion of their activities in Cyprus, to obtain Cypriot citizenship if they resided in Cyprus for 4 or 5 years, depending on their Greek language knowledge.
The Department of the Registrar of Companies and Intellectual Property announced the abolishment of the Levy Tax payment of the amount of 350 euros from 2024 and so on for companies that are registered under the Cyprus Registry of companies.
As per Article 51 of the UAE Corporate Tax (CT) Law, any Taxable Person shall register for Corporate Tax with the Federal Tax Authority (FTA) in the form and manner and within the timeline prescribed by the FTA and obtain a Tax Registration Number, except in circumstances prescribed by the Minister of Finance.
