New Corporate tax residency test/Definition of a Cyprus tax resident company
As per an Income tax law amendment published in the Official Gazette on 21 December 2021 (can be found here), an additional tax residency test is introduced, which captures Companies which are incorporated/registered in Cyprus, but their management and control are exercised outside Cyprus. Such companies will be considered Cyprus tax residents unless they are tax residents in any other jurisdiction.
For more information and how this can impact your business, feel free to contact us.