Eurofast

As a collection of emerging markets with a strong growth potential, the Balkan countries have firmly positioned themselves on the map of attractive investment locations.

Steadily growing numbers of foreign investors have expanded into Albania, Bosnia and Herzegovina, Croatia, Kosovo, North Macedonia, Montenegro and Serbia, drawn primarily by the region’s favourable location, its affordable workforce and creative tax regimes.

The Greek legislation regulates short-term rentals of real estate property within the so-called framework of “sharing economy” (through digital platforms like Airbnb) in the article 111 of Law 4446/2016, as amended and in force.

Important definitions

A sharing economy is considered to be any model where digital platforms create an open market for the temporary use of goods or services that are often provided by individuals.

Last year, the Cypriot House of Representatives voted into law the revised criteria for determining the tax residency of individuals in Cyprus.

Specifically, a second test was added in addition to the 183 day rule for individuals who do not spend more than 183 days in Cyprus or another jurisdiction. As per the new test, all of the following three criteria should be met for an individual to be considered a Cyprus tax resident:

• Remains in Cyprus for at least 60 days in the year of assessment

If you and your family are tired of rain and cold weather and dreaming of a non-stop summer, we can help you make your dreams come true.

You can easily move to Cyprus and—within a few short months—obtain both permanent residency and Cypriot citizenship. Enjoy a never-ending summer as well as all the benefits of being an EU citizen.