The Cyprus Shipping Deputy Ministry (SDM) announced the passing of the new "Law on the Shipping Limited Liability Company Law of 2022" (the “S.L.L.C. Law”) on 6th of October 2022.
This new legislation is one of the steps taken towards the implementation of the long-term national strategy for Cyprus Shipping or otherwise known “Sea Cyprus 2030”.
In 2016, Cyprus adopted amendments to the Income Tax Laws and to the Cyprus Intellectual Property (IP) regime, to fully comply with the EU legislation and the relevant OECD recommendations of the BEPS Action 5. The amendments apply retrospectively as from 1 July 2016.
Cyprus has been positioned as an ideal location for establishing business by providing high quality of living, business friendly environment, attractive tax incentives, low cost of setting up and running of business, comparing to other EU jurisdictions, providing the simplicity of common law and also having the ability to provide businesses with highly educated and skilled workforce.
