Ελληνικά
Republic of Cyprus Emblem Customs and Excise Department Customs and Excise Department Logo
Background Image

Home Page | FAQ | Sitemap | Links | Contact Us
Advanced Search             
PrintPrint
Ελληνικά
Back to the previous page
International business companies (Offshore companies)

1. Legal basis
  • The Customs and Excise Duties Law of 2003 no. 224(I) of 2002, Section 17.
  • The Customs and Excise Duties (Relief on Imported Goods) Regulations of 2004, P.I. 380/04, Regulation 13.

2. Termination of relief
The relief regime from import and excise duties for goods imported for use by offshore companies or their expatriate personnel has been terminated since 31 December 2003.

3. Motor vehicles under relief
In spite of the fact that the relief regime for offshore companies has been abolished, as mentioned earlier, entitled offshore personnel reserves the right to continue to possess a duty free vehicle which has been registered in their name prior to the 31st March 2003 in cases whereby they:

  • change employment to another entitled offshore company;
  • continue their employment in the same entitled company, which has extended its activities into Cyprus and has chosen to be taxed in accordance with the provisions of section 46 of the Income Tax Law, under the normal corporate tax rate;
  • change their employment to another company which was entitled to relief but has chosen to be taxed in accordance with the provision of section 46 of the Income Tax Law, under the normal corporate tax rate.

In case of disposal of the vehicle, the provisions of Regulation 12 of The Customs and Excise Duties (Relief on Imported Goods) Regulations of 2004, P.I. 380/04, will apply.

4. Information
For more information you may write to the Department of Customs and Excise at the address:
The Director
Department of Customs and Excise
Corner M. Karaoli and Gr. Afxentiou, Nicosia

The postal address is:
Director of Customs,
Customs Headquarters,
1440, Nicosia.

Fax no 22302031
E-mail; headquarters@customs.mof.gov.cy
For oral inquiries you may call telephone numbers 22407521, 22407531, 22601657 and 22601658.




No documents found


Click here: Top of the page

© 2006 - 2017 Republic of Cyprus, Ministry of Finance

Customs and Excise Department
Home Page | Government Web Portal | Disclaimer | User Satisfaction Survey | Webmaster