Cyprus–Norway relations explained

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Cyprus–Norway relations are foreign relations between Cyprus and Norway. Diplomatic relations were established on 22 March 1963.[1] The government in Cyprus considers that the "bilateral relations between Cyprus and Norway are excellent in all fields". Neither country has resident ambassadors.

Diplomatic relations

Cyprus is represented in Norway through its embassy in Stockholm, Sweden, and two honorary consulates, one in Oslo and the second in Kristiansand. Norway is represented in Cyprus through its embassy in Athens, Greece, and an honorary consulate in Nicosia.[2] Both countries are full members of the Council of Europe. Diplomatic relations were established on 22 March 1963.[3] On 7 April 1998, Svein Ole Sæther became the non-resident Norwegian Ambassador to Cyprus stationed in Tel Aviv.[4] He said "[bilateral relations] have been enhanced over the last years, not at least due to tourism."[5] Norway used the opportunity to reaffirm its support to a peaceful solution to the Cyprus dispute and said it would support Cyprus' entry into the European Union.[5]

Agreements

On 21 August 1951, there was a Consular Convention and an Exchange of Letters relating to establishing diplomatic relations. On 2 May 1951, there was a Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income. On 17 May 1962, there was an Exchange of Letters constituting an Agreement on the Abolition of Visa Requirement in Nicosia. On 5 March 1963, there was an Agreement on Commercial Scheduled Air Transport signed in London.[6]

Cyprus as tax haven

The taxation levels in Cyprus are considerably lower than in Norway, and Cyprus has actively courted Norwegians to move to Cyprus.[7] Among the Norwegians who moved to Cyprus is the shipping billionaire John Fredriksen, who was the richest man in Norway.[8] [9] [10]

In 1996 tax rules in Norway were changed to keep shipping companies competitive and under the Norwegian flag as ships changed their registry to Cyprus.[11] By 2008 changes to the tonnage tax regime to harmonize them with the European Union forced some companies to register in Cyprus.[12] Norwegian Service rig company Prosafe moved their headquarters to Cyprus.[13]

Several Norwegian retirees also moved to Cyprus; this too is largely to benefit from the lower tax rate on Cyprus and the minimal crime.[14]

See also

External links

Notes and References

  1. Web site: Kingdom of Norway . 2010-05-15 . . dead . https://web.archive.org/web/20110716054632/http://www.mfa.gov.cy/mfa/mfa2006.nsf/All/4FC761EE2A113ECBC22571E1002F4D22/%24file/Norway.pdf?OpenElement . 2011-07-16 .
  2. Web site: Consulates in Greece and Cyprus . 2010-05-15 . There are several Norwegian Honorary Consulates in Greece, and one in Nicosia, Cyprus. . . dead . https://archive.today/20100301201453/http://www.norway.gr/Embassy/Consulates/ . March 1, 2010 .
  3. Web site: Cyprus – Norway Bilateral Relations. Embassy of Cyprus in Sweden. 3 May 2009. https://web.archive.org/web/20080508012526/http://www.cyprusemb.se/dbase/cypemb/3_political_section_norway.asp. 8 May 2008. dead.
  4. News: Responding to questions of reporters during his meeting with Svein O. Saether, the Norwegian ambassador to Tel Aviv who is also accredited to the Greek Cypriot side ... . Cyprus: Turkish political leader says rumours, withdrawals escalated banking crisis . . May 10, 2000 . 2010-06-18 .
  5. Web site: New Ambassadors From Finland, Norway And Pakistan Present Credentials To President Clerides . 2010-06-18 . Kypros.org .
  6. Web site: Kingdom of Norway . 2010-05-21 . . dead . https://web.archive.org/web/20110716054632/http://www.mfa.gov.cy/mfa/mfa2006.nsf/All/4FC761EE2A113ECBC22571E1002F4D22/%24file/Norway.pdf?OpenElement . July 16, 2011 .
  7. News: Kypros jakter på rike nordmenn. 11 May 2006. .. no. Dagsavisen. 2009-05-06. dead. https://web.archive.org/web/20110921224308/http://www.dagsavisen.no/innenriks/article266870.ece. 21 September 2011.
  8. News: Norway's richest man no longer . . 11 May 2006 . 2010-05-15 . https://web.archive.org/web/20070808041748/http://www.aftenposten.no/english/business/article1314163.ece . 8 August 2007 . dead .
  9. News: Skatteflyktet til Kypros . . . Ukeavisenledelse . no . 23 August 2006 . 2010-05-15 . dead . https://web.archive.org/web/20110724190140/http://www.ukeavisenledelse.no/arkiv/skatteflyktet_til_kypros?utskrift=1 . 24 July 2011 .
  10. News: Fredriksen blir kypriot. no. 10 May 2006. Aftenposten. 2009-05-06. https://web.archive.org/web/20100828215509/http://www.aftenposten.no/nyheter/iriks/article1311458.ece. 28 August 2010. dead.
  11. News: Act Now to Prevent More Oil Spills at Sea . . . . 27 February 1996 . 2010-06-18 .
  12. News: Norway's Whilhelmsen moving shipping unit to Malta . The changes were aimed at making Norwegian shipping rules more like those in the European Union, but industry groups have said the move might force some to register in tax havens such as Bermuda or Cyprus. . . 18 June 2008 . 2010-05-15 .
  13. News: no. Rømmer norsk utbytteskatt. 9 February 2007. E24 Næringsliv. 2009-05-06.
  14. News: Norske pensjonister: Flytter til 8% skatt på Kypros. Low taxation, low living costs and summery winter temperature limits more and more Norwegians to settle on the Mediterranean island. Now we have established a Norwegian "colony" in Paphos in Cyprus similar seen in Spain.. 4 December 2008. VG Nett. 2009-05-06. https://web.archive.org/web/20091217083716/http://www.vg.no/dinepenger/artikkel.php?artid=544780. 17 December 2009. dead.

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