Month: March 2024

Tax Manager: job vacancy by Nobel Trust

TAX MANAGER: job vacancy

Posted on | by [email protected]

TAX MANAGER: job vacancy

At Nobel Trust we are seeking to recruit a high caliber person for the position of Tax Manager to be based in our offices in Nicosia.

Role and Responsibilities

Reviewing financial statements and tax returns and advising on tax and VAT matters based on Cyprus laws

Drafting tax rulings and tax memos

Assisting with tax structuring and resolving practically complex tax related issues

Knowledge of fundamental tax and legal aspects in relation to major foreign jurisdictions and application of Double Tax Treaties

Preparing presentations and publications on practical tax matters

Attending meetings and conducting negotiations with the tax authorities

Correspondence and communication with clients in respect to the above on a daily basis

Assisting with the firm’s business development with a focus on taxation and structuring

The profile of the ideal candidate

at least 5 years post-qualification experience in the field of taxation with a top-tier accounting firm

ACA/ACCA/LLM or equivalent qualification

good communication, organisational, supervisory, presentation and interpersonal skills

be a great team-player

strong computer skills

strong sense of commitment and responsibility

good command of Greek and English languages

Remuneration
A competitive remuneration package will be offered to the successful candidate according to his/her qualifications and experience.

Apply now
Please email your CV to the Management at Nobel Trust Ltd : [email protected]

Cyprus Naturalisation: new criteria

Cyprus Naturalisation: Revised application criteria

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Cyprus Naturalisation: Revised application criteria

On the 22nd of March 2024, the Ministry of the Interior announced the receipt and examination of applications for naturalization submitted in accordance with the provisions of the Population Register (Amendment) Law of 2023.

The qualifications for naturalization, pursuant to article 111B(1) of the Population Register Law, which must be met cumulatively to submit an application for naturalization are the following:

  1. Legal and continuous residence for 12 months immediately preceding the date of application. Periods of absence that do not exceed a total of 90 days do not interrupt the stated period.
  2. During the 10 years immediately preceding the 12-month period, legal residence for cumulative periods of not less than 7 years.
  3. Good character.
  4. Adequate knowledge of Greek language at level B1.
  5. Sufficient knowledge of basic elements of the modern political and social reality of the Republic of Cyprus.
  6. Appropriate accommodation and stable and regular financial resources sufficient for maintaining the applicants themselves and their family members.
  7. Intention to reside in the Republic of Cyprus.

According to article 111B(2), the qualifications are differentiated for the individuals residing in the Republic of Cyprus for the purpose of highly qualified employment in companies which are determined by the Decision of the Council of Ministers (no. 92.018, dated 15/10/2021), regarding the Strategy for Attracting Businesses for Activities or/and Expansion of their Activities in Cyprus, as well as for their family members. The following companies fall into this category:

  1. Businesses/companies of foreign interests operating in the Republic of Cyprus and operating independent offices in Cyprus, which are housed in suitable premises, separate from any private residence or other office,
  2. Cypriot shipping companies,
  3. Cypriot high-tech/innovation companies with products related to the aerospace industry, computers, IT, technology and communication, pharmaceuticals, biomedical equipment, research and development equipment, electrical machinery, chemicals, non-electrical machinery,
  4. Cypriot pharmaceutical companies or Cypriot companies active in the fields of biogenetics and biotechnology,
  5. The companies that are already registered in the Register of Foreign Companies of the Civil Registry and Migration Department.

The qualifications for the individuals falling under the provisions of article 111B(2) as well as for their family members, which must be met cumulatively, are as follows:

  1. Legal and continuous residence for 12 months immediately preceding the date of application. Periods of absence that do not exceed a total of 90 days do not interrupt the stated time period.
  2. During the immediately preceding 10 years from the 12-month period, to have legal residence for cumulative periods of no less than 4 or 3 years depending on the level of knowledge of the Greek language, i.e. A2 or B1 respectively. Periods of absence that do not exceed a total of 90 days per year do not count as absence.
  3. Good character.
  4. Adequate knowledge of the Greek language at level A2 or B1.
  5. Sufficient knowledge of basic elements of the modern political and social reality of the Republic.
  6. Appropriate accommodation and stable and regular financial resources sufficient for the maintenance of themselves and their family members.
  7. Intention to reside in the Republic of Cyprus.

Our team is happy to provide you with detailed information regarding the naturalization criteria and guide you through the application procedure. Please contact us at +357 22022777 or send us an email.

Cyprus Registrar abolishes annual company fee

Termination of annual company fee

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Termination of annual company fee

On the 21st of March the Department of the Cyprus Registrar of Companies and Intellectual Property announced that the annual levy of €350 is abolished from 2024 onwards. The annual fees for years 2011–2023 are still applicable.

It has also been clarified that the companies which have already settled their annual fee for 2024 will be refunded.

This measure will offer great relief and support to Cyprus companies and serves as a step to enhancing the local business environment.

Official Source

Late submission fee for Annual Reports HE32

Annual Returns (HE32): Late submission penalty fee has been set to €150

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Annual Returns (HE32): Late submission penalty fee has been set to €150

The Department of the Registrar of Companies and Intellectual Property announced that pursuant to the Companies (Amendment) Law 2024, Law 18(I)/2024, published in the Official Gazette on 5 March 2024 (the Law), the maximum fine for Annual Returns with a date of issue for the years 2021 and onwards will not exceed €150 for each infringement.

The fees are summarized below:

In case of timely registration: €20 form fee

In case of late registration: (i) €20 form fee, (ii) €20 as a charge, (iii) the corresponding late registration fee of €50 as a lump sum and €1 for each day of continuation of the infringement, up to a maximum total amount of €150.

According to the Law, persons who paid for the late submission of the 2023 HE32, from 05/03/2024 onwards, are entitled to a refund of any amount of fine exceeding €150. Such refund will be made as follows:

  1. For online payments made via JCC, the excess amount will be refunded directly to the card with which the payment was made, without any further action by the applicant.
  2. For payments made to the Cashier of the Department of the Registrar of Companies and Intellectual Property, the additional amount will be returned to the applicant’s Bank Account upon presentation of the payment document, together with the FIMAS Payment Authorization Form, accompanied by a photocopy of the statement of the Bank Account to be credited (Authorization Form can be downloaded here).

Official source