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The 60 Day Rule explained

Many of our readers are probably aware that Cypriot legislation states that individuals who spend more than 183 days during a tax year (the period from 1stJanuary until 31stDecember) in Cyprus are considered a Cyprus Tax Resident.  As of 1stJanuary 2017, however, the new 60-day rule can also be applied, which offers individuals the option …

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Social Insurance Contributions Increase in 2019

The Social Insurance Scheme of the Republic of Cyprus is financed by contributions paid by employers, insured persons, and the State, as a percentage of an employee’s insurable earnings. Employers are liable to pay contributions to the Social Insurance, Annual Holidays, Redundancy, Human Resource Development and Social Cohesion Funds for each of their employees. As …

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Commencement of General Healthcare System

The General Healthcare System Law of 2010 (as amended in 2017), is set to come into effect in 2019. Under this law, the Republic of Cyprus will offer its citizens a General Healthcare System (GHS), a modern, people-centric healthcare system that aims to provide all citizens with equal access to healthcare services. For the implementation …