As of 1st of January 2022, TP requirements have been enacted in the Cyprus legislation and a TP analysis is now mandatory under the Cyprus Law of transactions between related parties. Section 33(9)(a) of the income Tax Law provides that the aggregate threshold is at arm’s length with a value more than EUR 750,000 p.a. in aggregate per transaction category (i.e. financial transactions, services, goods, PI-related transactions and other)
The BVI Business Companies Act, 2004 ("The Act") requires companies to maintain records and documents related to their financial transactions. According to the latest changes to the Act effective 1 January 2023, companies must file an annual return with their registered agent every year.
Every company registered in the Cyprus Registrar of Companies, must pay an annual fee of three hundred and fifty euros (€350) by 30th of June of each year of its operation.