
The Cyprus Tax System: Features, Pros, and Cons
For those planning to open a company or relocate to Cyprus, it is important to understand how the tax system works and what benefits it can provide.
The rules for renting housing to tourists in Turkey have been tightened: now, the homeowners are required to obtain permits from authorities for rentals shorter than 100 days. Also, it is required to get the consent of all residents in the building. This is stated in the government decree.
On the doors of the rented house, it will be necessary to display a government-issued notice stating that the object is rented to tourists. The fee for obtaining a license will be determined by the Ministry of Culture and Tourism.
If one violates the regulation, he will be fined. An administrative fine of 100,000 Turkish lira ($3,500) is provided for renting out housing without a license. After receiving the fine, the owner must issue a license within 15 days, otherwise he will be fined 500,000 liras ($17,600), and after 15 days more — 1 million liras ($35,300). It is also prohibited to sublet, the fine amounts to 100,000 liras. People who have not posted a sign at the entrance will be subject to a similar fine.
The new requirements do not apply to housing that will be rented for a period of more than 100 days.
For those planning to open a company or relocate to Cyprus, it is important to understand how the tax system works and what benefits it can provide.
In this article, we'll take a detailed look at what a green card is, the rights and responsibilities it provides, how to obtain one, and the pros and cons of permanent resident status.
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