From 2025, Cyprus will require mandatory registration to obtain a TIC tax number
Starting from January 1, 2025, new tax rules will come into force in Cyprus, which directly affect both residents and non-residents operating or receiving income in the country. One of the key changes is the mandatory independent receipt of a tax identification number (TIC - Tax Identification Code) through the tax service portal. Previously, such a number was assigned automatically, often without the participation of the taxpayer, but now the process is more complicated and requires targeted action.
What is TIC and why is it needed
TIC (Tax Identification Code) is a unique number assigned to individuals and legal entities for tax accounting in Cyprus. It is used to file tax returns, pay taxes, register companies, open bank accounts and even when making real estate transactions.
Previously, TIC was automatically assigned when registering a company, filing the first declaration or opening a bank account. However, from 2025, the Cyprus Tax Authority will tighten the requirements and require all taxpayers to register independently through the Tax For All (TFA) online portal.
New registration procedure
Now, to obtain a TIC, you will need:
- Creating an account in the TFA system;
- Identity verification via the online service or in person;
- Filling out a questionnaire with financial information;
- Providing documents confirming the basis for tax registration (lease agreement, employment contract, business registration, etc.).
In addition, the tax office may require additional information for verification, especially in the case of non-residents or foreign companies.
Consequences of late registration
Failure to obtain a TIC on time may result in the inability to file tax returns, open bank accounts, register transactions or engage in business activities in Cyprus. Fines may also be imposed for non-compliance with tax legislation.
Who is required to obtain a TIC
- All individuals working or residing in Cyprus;
- Owners of Cypriot companies and beneficiaries;
- Freelancers receiving income in Cyprus;
- Foreign companies with an economic presence on the island.
IT-OFFSHORE is always ready to help you go through the process of registering a TIC in Cyprus: from preparing documents to full support on the tax portal. We will ensure compliance with all new requirements so that your business operates without risks and delays.
