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Tag Archive for Cyprus

Acquisition And Disposal Of Immovable Property In Cyprus

It is a fact that purchasing and/or selling an Immovable Property entails a stressful procedure. This article briefly outlines the procedure an individual or a legal entity must follow when acquiring or disposing of an immovable property as well as the respective rights and obligations.

Purchase Of Immovable Property In Cyprus

First Stage:

When deciding whether to purchase an immovable property, the prospective purchaser must ensure that proper due diligence will be made over the target property, in order to avoid any future complications and surprises. Firstly, it is important to verify whether the seller holds separate title deed of the immovable property or whether the immovable property is mortgaged. In cases where the immovable property is still under construction, it needs to be verified that the appropriate building and planning permits exist.

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Updates On Cyprus Double Taxation Treatys (DDT’s) With Saudi Arabia And Ethiopia

Cyprus and Saudi Arabia signed a Double Taxation Treaty on the 3rd of January 2018. The DTT that was signed amongst the two countries will be implemented on the 1st of January 2019, after all legalities are completed.


0% Withholding Tax on Dividend Distributions

According to the relevant DTT, dividends will not be subject to withholding tax when the beneficial owner is a company that directly or indirectly holds 25% or more of the capital in the paying company. The aforementioned regulation does not include partnerships. In all other situations, dividends will be subject to 5% withholding tax. Read more