Vietnam and the Republic of Cyprus Sign Double Taxation Avoidance Agreement

The signing ceremony was held solemnly, demonstrating the strong political determination and commitment of both Governments to promote bilateral economic and financial cooperation.

In recent years, economic and trade cooperation between Vietnam and Cyprus has achieved positive growth, with two-way turnover reaching 111.6 million USD. As of October 2025, the Republic of Cyprus had 28 investment projects in Vietnam with a total registered capital of nearly 470 million USD, ranking 34th out of 153 countries and territories investing in Vietnam, focusing on real estate, manufacturing, and agriculture. Vietnam currently has one investment project in Cyprus with a total registered capital of 0.48 million USD. Given its strengths in tourism, finance, seaports, and logistics, along with its important transit location to the Middle East, Southeast Europe, and North Africa, Cyprus offers significant potential for deeper economic and investment cooperation between the two countries in the coming time.

Vietnam and the Republic of Cyprus Sign Double Taxation Avoidance Agreement

Speaking at the signing ceremony, Deputy Minister Cao Anh Tuan emphasized that given the growing economic and trade ties, the DTAA will ensure a reasonable allocation of taxing rights between the two countries. It will also establish a clear, stable legal environment consistent with international standards, thereby encouraging business and investment activities by investors, enterprises, and individuals residing in both Vietnam and Cyprus. He stated that the agreement is a concrete testament to the good cooperation and friendship between Vietnam and Cyprus, marking a new step forward in the bilateral relationship.

Mr. Makis Keravnos, Minister of Finance of the Republic of Cyprus, expressed his delight over the signing of the Double Taxation Avoidance Agreement. He voiced his confidence that the tax agreement is a starting point for establishing a strong, cohesive relationship that will bring mutual benefits and prosperity to both sides in the future.

To date, Vietnam has signed 81 Double Taxation Avoidance Agreements with countries and territories worldwide, 77 of which are already in effect. The signing of the Agreement with Cyprus continues to affirm Vietnam's policy of deep international integration in the financial and tax sector, while demonstrating its active role in fulfilling international tax commitments.