On 30 October 2015, the Cyprus Tax Authorities issued a circular in relation to the introduction of a tax residency form (Form T.D.98) for the purpose of issuing a tax residency certificate to legal persons.
With the view of expediting the process of issuing a tax residency certificate, the tax residency form has been designed to include all the necessary information required by the tax authorities in order to be able to proceed with the issuance of a tax residency certificate. In cases where the tax office requires further clarifications, the respective tax officer may contact the applicant.
The applicant company or its representatives should submit the tax residency form, duly completed, to the Accounts/Companies Department of the District Office where the applicant company has its tax file. In certain cases, foreign tax authorities may require the Cypriot Tax Department to complete a
special form confirming the tax residency status of the applicant company. In such cases, the applicant company will have to submit the relevant special form alongside its application for a tax residency certificate.
The tax residency form is essentially a detailed questionnaire, which requires, inter alia, disclosure of the following information by the applicant company:
- Company details (i.e. tax identification code, company’s name)
- Tax residency certificate details (i.e. period/year to be covered)
- Company’s incorporation and tax residency status
- Directors/board meetings (i.e. where these are held, tax residency status of Directors)
- Shareholders’ meetings (i.e. where these are held)
- Powers of Attorney (i.e. whether any general powers of attorney were issued)
- Maintenance of books and records (i.e. where these are kept)
- Tax filling and payment status.