In order to own a tax warehouse in the Republic of Cyprus, one needs to obtain the licence for authorised warehousekeeper along with the authorization to open and operate a tax warehouse by the Department of Customs and Excise of the Ministry of Finance.
According to the Council Directive 2008/118/EC an authorised warehousekeeper is a natural or legal person authorised by the competent authorities of a Member State, in the course of his business, to produce, process, hold, receive or dispatch excise goods under a duty suspension arrangement in a tax warehouse.
Furthermore according to the above Directive, a tax warehouse is a place where goods subject to excise duty are produced, processed, held, received or dispatched under duty suspension arrangements by an authorised warehousekeeper in the course of his business, subject to certain conditions laid down by the competent authorities of the Member State where the tax warehouse is located.
For granting a warehousekeeper's authorisation in the Republic of Cyprus the Director of the Department of Customs and Excise must be satisfied that the following conditions are fulfilled:
Data subjects are entitled to exercise their right of access to data relating to them in IMI, and the right to have inaccurate or incomplete data corrected and unlawfully processed data deleted in accordance with the national legislation on personal data protection.
The applicant is informed regarding the authorisation decision within , or the reasons why the application was rejected, within three months from the date that the application form and supporting documents were duly submitted or the date any requested outstanding or additional information is received by the customs authorities.
The authorisation shall not be deemed to have been granted if the Department of Customs and Excise has not replied within the period specified. Upon approval, an authorised warehousekeeper shall be required to provide a guarantee to cover the risk inherent in the production, processing and holding of excise goods.
Obligations and Supervision
Authorised warehousekeepers, owners of approved tax warehouses, are obliged to comply with the provisions of the Excise Duty Law 91(I)/2004 and specifically, among others, to: