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Έναρξη Λειτουργίας της Τελικής Λύσης του Μητρώου Πραγματικών Δικαιούχων (UBO Register) για εταιρείες και άλλες νομικές οντότητες.

Υποβολή μέχρι 31 Δεκεμβρίου 2023

Το τμήμα Εφόρου Εταιρειών και Διανοητικής Ιδιοκτησίας (ΤΕΕΔΙ) σε συνέχεια της ανακοίνωσής του με θέμα «Ειδοποίηση για καταχώριση στοιχείων πραγματικών δικαιούχων (ΠΔ) στο Μητρώο Πραγματικών Δικαιούχων (ΜΠΔ) και επιβολή προστίμων» ημερομηνίας 01/09/2023, ενημερώνει την έναρξη της εφαρμογής της τελικής λύσης του ηλεκτρονικού συστήματος του ΜΠΔ από τις 14 Νοεμβρίου 2023.

Στον σύνδεσμο https://ubo.meci.gov.cy/ μπορούν να ενωθούν όσοι είναι εγγεγραμμένοι χρήστες του Cylogin. Η τελική λύση του ηλεκτρονικού συστήματος του ΜΠΔ θα εφαρμοστεί στην ολότητά του εντός του 2024.

Διαδικασία και Προθεσμίες:

Περίοδος A: 4/11/2023 – 31/12/2023

• Όλες οι εταιρείες που έχουν συσταθεί ή εγγραφεί βάσει του περί Εταιρειών Νόμου, Κεφ. 113, όλες οι Ευρωπαϊκές Δημόσιες Εταιρείες περιορισμένης ευθύνης (SE) και όλοι οι Συνεταιρισμοί (εφεξής Οργανισμοί) ή οι αξιωματούχοι/συνεταίροι τους, καλούνται να εισέλθουν στο σύστημα της τελικής λύσης και να προβούν στην «Ενέργεια» της «Αρχικής Καταχώρισης», δηλαδή να ενημερώσουν/επανακαταχωρίσουν τους ΠΔ τους, ακόμα και εάν το έχουν ήδη πράξει στο σύστημα της ενδιάμεσης λύσης. Για σκοπούς επανακαταχώρισης, θα παρουσιάζεται η τελευταία εικόνα των στοιχείων των ΠΔ της ενδιάμεσης λύσης στην καρτέλα «Πληροφορίες από ενδιάμεσο σύστημα» όπου θα μπορούν να δουν τι έχουν καταχωρίσει στην ενδιάμεση λύση και να το επανακαταχωρίσουν.
• Η Περίοδος Α θα διαρκέσει από 14/11/2023 – 31/12/2023 και σε αυτή δεν θα επιβληθεί οποιαδήποτε χρηματική επιβάρυνση.

Περίοδος B: 01/01/2024 – 29/02/2024

• Όσες εταιρείες, δεν έχουν εισέλθει κατά την Περίοδο Α στο σύστημα της τελικής λύσης για να προβούν στην «Ενέργεια» της «Αρχικής Καταχώρισης», δηλαδή να ενημερώσουν / επανακαταχωρίσουν το ΜΠΔ τους, ακόμα και εάν το έχουν ήδη πράξει στο σύστημα της ενδιάμεσης λύσης, θα υποστούν χρηματική επιβάρυνση. Η επιβάρυνση θα ισχύει από την 01/01/2024 μέχρι και την ημερομηνία της «Ενέργειας» της «Αρχικής Καταχώρισης» οπότε και θα ενημερωθεί το σύστημα της τελικής λύσης με στοιχεία ΠΔ.
• Αφού οι πιο πάνω Οργανισμοί πληρώσουν την χρηματική επιβάρυνση που προκύπτει, θα μπορούν να προβαίνουν σε καταχώριση ή/και παύση ή/και αλλαγή χωρίς την οποιαδήποτε περαιτέρω χρηματική επιβάρυνση που διέπει τις συγκεκριμένες ενέργειες με βάση την Οδηγία Κ.Δ.Π. 112/2021 ως τροποποιήθηκε.

Περίδος Γ:  απο 01/03/2024 και εντεύθεν

Κατά την Περίοδο Γ όλες οι ενέργειες βάσει της Οδηγίας Κ.Δ.Π. 112/2021 ως τροποποιήθηκε θα είναι διαθέσιμες ως πιο κάτω:

• Ενημέρωση Μητρώου Πραγματικών Δικαιούχων
• Επιβεβαίωση Πραγματικών Δικαιούχων
• Αναντιστοιχία
• Ηλεκτρονική Έρευνα στο Μητρώο Πραγματικών Δικαιούχων
• Αίτημα για εξαίρεση δημοσιοποίησης στοιχείων
• Αίτημα για πρόσβαση στα στοιχεία ανήλικου
• Υπολογισμοί χρηματικών επιβαρύνσεων όπου ισχύουν

Πρόστιμα:

Υπενθυμίζεται ότι, ανεξαρτήτως της ποινικής ευθύνης ή δίωξης οποιουδήποτε προσώπου, σε περίπτωση μη συμμόρφωσης, η εταιρική ή άλλη νομική οντότητα και κάθε στέλεχος της υπόκεινται σε πρόστιμο διακοσίων ευρώ (200 ευρώ) και περαιτέρω πρόστιμο εκατό ευρώ (100€) για κάθε ημέρα συνέχισης της παράβασης με ανώτατη χρέωση είκοσι χιλιάδες Ευρώ (20.000€).

Περισσότερες πληροφορίες

Για οποιεσδήποτε διευκρινίσεις ή απορίες σε σχέση με το Μητρώο Πραγματικών Δικαιούχων, μπορείτε να επισκεφθείτε την ενότητα Μητρώο Πραγματικών Δικαιούχων στην οποία υπάρχει αναλυτική πληροφόρηση για τη διαδικασία δημιουργίας & ταυτοποίησης προφίλ, επιβολής προστίμων, FAQ’s, νομοθεσία. Σε περίπτωση που το ερώτημά σας δεν απαντηθεί από το πιο πάνω υλικό μπορείτε να το υποβάλετε αποκλειστικά και μόνο γραπτώς στην ηλεκτρονική διεύθυνση This email address is being protected from spambots. You need JavaScript enabled to view it.

Το Επόμενο Βήμα. Τι μπορούμε να Κάνουμε για σας; 

Είμαστε στη διάθεσή σας για να σας παρέχουμε διευκρινίσεις σχετικά με τη διαδικασία και και παροχή σχετικών υπηρεσιών.

P. Kalopetrides & Co,

Επικοινωνήστε μαζί μας στο This email address is being protected from spambots. You need JavaScript enabled to view it.  | Τηλ.: +357 22 669017

• news
• business
• pkalopetrides
• announcement
• UBO
• ultimate
• beneficial
• owner
• registry

Implementation of the Final Solution of UBO Register. Submission by December 31^st, 2023

The Registrar of Companies and Intellectual Property has announced the commencement of the implementation of the final solution of the electronic system of the Register of Beneficial Owners calling all the Cyprus Register entities to comply with the provisions of the relevant Directives which was incorporated in the local legislation for The Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2021, and its enactment with the operation of the register of beneficial owners of corporate and other legal entities.  

The implementation of the final solution of the electronic system will began on the 14^th of November 2023 through https://ubo.meci.gov.cy/ in which all registered of Government Gateway Portal (CyGov/ Ariadni) can login. The final solution of the electronic system of the UBO Registry will be implemented in its entirety within 2024.

Phase A as from 14/11/2023 – 31/12/2023

All companies established or registered under the Companies Law, Cap.113, all European Public Limited Liability Companies (SE) and all Partnerships (hereinafter refer as “Organizations”) or their officers/partners, are invited to enter the system of the final solution and proceed with “Action” (“Έναρξη”) of the Initial Registration, to update and re-register their UBOs, even if they have already done so through the interim solution system. For re-enrolment purposes, the latest information submitted through the interim solution will also appear.

This 1^st face will last from 14/11-31/12/2023 and during the said period no fines will be imposed.

Phase B as from 1/1/2024 – 29/2/2024

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Fines will be imposed to all organizations or their officers/partners who did not comply as described in Phase A, by submitting the details of their UBOs through the final solution, even if they have already submitted the details through the interim solution system. The fines will be valid as from 1/1/2024 up until the date of the submission. The submission will take place following the payment of the imposed fine. Organizations that have complied in accordance with Phase A during the said time frame, will be able to amend, and re-submit without any financial burden.

Phase C as from 1/3/2024 – onwards

During the Phase C, all actions based on the Directive (Κ.Δ.Π. 112/2021), as amended, will be available as follows:

• Updating the Register of Beneficial Owners,
• Confirmation of the details of the Beneficial Owners submitted,
• Mismatching submitted information,
• Electronic Search in the Register of Beneficial Owners,
• Request for exemption from disclosure information,
• Request to access details of a minor (as submitted with the UBO Registry),
• Calculation of fines and charged (if applicable) submit without any financial burden.

Fines:

It is reminded that, notwithstanding the criminal liability or prosecution of any person, in the event of failure to comply, the corporate or other legal entity and each of its officers shall be subject to a fine of two hundred Euros (€200) and a further fine of one hundred Euros (€100) for each day of continuation of the violation with a maximum charge of twenty thousand Euros (€20,000).

For any clarifications or inquiries related to the Register of Beneficial Owners, you can visit the Register of Beneficial Owners section which contains detailed information on the process of creating and authenticating profiles, submitting BO details, imposition of fines, FAQ’s, guidance, legislation. You may find relevant announcement here.

The Next Step. What can we do for you? We are at your disposal to provide clarifications on the procedure and related services.

P. Kalopetrides & Co,  Contact us now: This email address is being protected from spambots. You need JavaScript enabled to view it. | +357 22 669017

• Tax
• relocation
• cyprus
• cyprus taxation
• Non-Domicile Status Cyprus

^{CYPRUS: Non–Domicile Tax Rules & Relocation}

^{It offers many opportunities and several benefits for businesses and individuals to work fully or partly from Cyprus.}

Cyprus with its attractive tax regime, great quality of life, and stable political climate, could be an ideal location to reside. The various tax exemptions can certainly be utilized to effectively structure your tax liability.

The 60-day Rule combined with the applicable ‘Non-Dom’ regime has proven extremely popular with location-independent entrepreneurs, business people, investors or Digital Nomads
(people working remotely; ask for further information), and family Cyprus Non-domicile Status.

In case of receipt of passive income may be eligible for a Non-dom Status. The latter allows Cyprus tax resident individuals, not born in Cyprus and have not lived in Cyprus to benefit from
a complete 17-year exemption from taxes, that is Special Defence Contribution (SDC), levied on interest and dividend income. A zero-tax rate on passive income is surely a preferred bonus
over the standard 17% rate on dividends and a 30% rate on interest income for Cyprus-domiciled individuals.

Main Tax Benefits for an Individual that Chooses to Become a Cyprus Tax Resident 

Individuals who are Cyprus tax residents, whether under the “60-day rule” or under the “183-day rule” are taxed in Cyprus on their worldwide income, however, certain exceptions apply, as follows:

• A Cyprus tax resident individual but non-domiciled in Cyprus is exempt in Cyprus from taxation on his/her worldwide dividend and ‘passive’ interest income (e.g. interest and rental
  income) under the ‘Cyprus Non-Domiciled Tax Status’ (as above).
  
• Profit from the sale of securities is exempt from tax in Cyprus. ‘Securities’ include, inter alia, shares in local or foreign companies, bonds, debentures, options, etc., except in cases
  where the value of the shares derives from the value of immovable property in Cyprus.
  
• The 50% exemption rule:
  Individuals who take up employment in Cyprus with an annual income in excess of €100.000 will be eligible for an exemption from taxation of 50% of their income for a period of 10
  years, commencing from the year of employment, provided that he/she has not been a tax resident of Cyprus three out of the five years preceding the year of employment.
  
• The 20% exemption rule: Individuals who take up employment in Cyprus and were not tax residents in Cyprus prior to commencing such employment will be eligible for an exemption from taxation of 20% of their income or €8.550 (whichever is lower) from any employment which is exercised in Cyprus.
  
• Income from employment carried out outside Cyprus is exempted from Cyprus income tax, provided that the employment exercised outside Cyprus exceeds 90 days per tax year.
  
• Low Tax Rate in respect of Foreign Pensions, taxed in Cyprus at the flat rate of 5% for amounts more than €3,420.
  
• No inheritance tax, no wealth tax, no gift taxation, no immovable property taxes.

Further Benefits

• Right to live and work anywhere in the EU, if you are an EU citizen.
• Access to the country’s excellent healthcare system and high educational standards.
• Safe country and excellent lifestyle.
  

Definition of Non-Domiciled Persons

In accordance with the provisions of the wills and Succession Law, there are two kinds of domicile:

- The domicile of origin, which is received at birth (generally depending on the father’s side), or
- The domicile of choice, which is acquired by a physical presence in a particular place and by demonstrating a sufficient intention to make it the place of permanent residence.

 Tax Residency Rules for Individuals

A person who satisfies any of the below criteria can receive a tax residence certificate by submitting a written application and supporting evidence documentation.

• The 183 days rule: A person resides in Cyprus for one or more periods exceeding a total of 183 days in the tax year.
  
• The 60 days rule: A person resides in Cyprus for at least sixty (60) days in the tax (calendar) year. Moreover, need to meet all the below criteria:
  

1. He/she carries out any business in Cyprus; and/or works in Cyprus and/or holds an office in a company that is tax resident in Cyprus during the tax year; and

2. He/she maintains a permanent residence in Cyprus (owned or rented); and

3. He/she does not reside in any other single state for a period exceeding 183 days, and

4. He/she is not a tax resident in any other state.

Next Step

Book a preliminary teleconference consultancy meeting. Our experienced team can assist you with the procedures of obtaining Cyprus Tax Residency status & Advisory for Relocation.

This email address is being protected from spambots. You need JavaScript enabled to view it. | Tel: +357 22 669017.

• Tax
• relocation
• cyprus
• DIGITAL NOMADS. An Attractive Visa Scheme in CYPRUS

DIGITAL NOMADS

 An Attractive Visa Scheme in Cyprus

Digital nomads, as the term implies, are people who work remotely from anywhere in the world, using digital technology to perform their job. This coincides with the worldwide trend of the companies that adopted widely “Remote working”.

The Government of the Republic of Cyprus introduced a specific visa programme, with several incentives for people who would like to take advantage of all the benefits of living on the island, while working for companies who operate outside the country.

What is the "Cyprus digital nomad visa"?

 The "Cyprus Digital Nomad Visa" Scheme allows nationals from non-EU and non-EEA countries, who can perform their work location-independently using telecommunications technology, to reside temporarily in Cyprus and work for an employer registered abroad or provide services for companies or clients located abroad

The Scheme’s goal is to strengthen Cyprus as a center for the provision of electronic services, where in combination with the other advantages offered, the attraction of digital nomads will contribute to the development of the business ecosystem and consequently to the economic development of the country. The introduction of the "Cyprus Digital Nomad Visa Scheme" is included in the Strategy for Attracting Businesses for Activities or/and Expansion of their Activities in Cyprus.

Main Benefits to Non-EU or non-EEA Nationals

 Can perform work remotely through telecommunications technology;

 Are employed by their own company or another company registered abroad, for which they can work location-independently, or are self-employed offering services remotely for clients located abroad;

 Can prove that they have stable and sufficient monthly net income of at least €3.500 (after the deduction of contributions and taxes).

What are the benefits of the digital nomad scheme?

Individuals that are granted a Digital Nomad residence permit will benefit from the following:

 Right of residence for a year in Cyprus, with a possibility of renewal for further two years.

 Right of residence for family members, for the same period as the Digital Nomad, without the right to be employed of perform economic activity in Cyprus.

 If they reside in the Republic for one or more periods that in total exceed 183 days within the same tax year, then they are considered tax residents of Cyprus, provided they are not tax residents in any other country. In this way, one can be eligible for a good number of tax benefits (request further information).

Family members

 Digital Nomad’s family members can reside in Cyprus for the same period as the Digital Nomad, without the right to be employed or perform any economic activity in Cyprus.

 Family members include the spouse/ partner in a civil union and underaged children.

 Family members also need to obtain a temporary residence permit following the procedure below.

Requirements

There’s a minimum threshold of funds coming from abroad (supported by salary, bank statements, etc) set to €3.500 per month, an increase of 20% for the spouse and by 15% for any minor child.

Medical insurance covers in-patient, out-patient, and transportation of mortal remains.

Declaration, that the applicant and his dependent family members, do not intend to work, or to provide services or be engaged in any form of business with any companies or clients located in Cyprus.

Clean criminal record certificate from the country of residence.

Must have suitable accommodation in the Republic of Cyprus

Procedure

 Within 3 months of arrival, the applicant should submit the relevant application along with the required documents, to the Migration Department in Nicosia. All documents accompanying application forms should be officially translated and duly certified/ ratified.

 Applications can be submitted personally or through an authorised representative.

 For the issuance of the temporary residence permit capturing biometric data (photo and fingerprints) and the signature of the third country national is necessary, which is done with the presentation of the application submission receipt and a valid travel document.

Examination time

The time of examination is between 5 – 7 weeks from the time of submission.

Duration of temporary residence permit

  A first temporary residence permit is issued with a validity of one year. In case of renewal, the temporary residence permit is issued with a validity of maximum two years.

A first temporary residence permit is issued with a validity of one year. In case of renewal, the temporary residence permit is issued with a validity of maximum two years.

Next Step

Book a preliminary complimentary teleconference consultancy meeting.    Contact us by email: This email address is being protected from spambots. You need JavaScript enabled to view it. or call at +357 22 669 017