News - Cyprus

1. Overseas Business Risk - Cyprus

   Cyprus 9/6/2022 9:18:40 AM

   Information on how UK companies can control risks when doing business in Cyprus.

2. Cyprus to attract foreign professionals and headquartering, with new bill for favourable tax arrangements

   Cyprus 5/17/2022 9:01:34 AM

   The Cabinet of Ministers approved, on 10 May, a new tax incentive scheme aimed at attracting foreign talent to Cyprus and encouraging international companies to relocate their headquarters to Cyprus.

3. Cyprus expands ‘Digital Nomad Visa’ for remote foreign workers

   Cyprus 5/5/2022 4:08:02 PM

   The Cyprus Council of Ministers approved, on 3 March, an increase on the ceiling of residence permits issuable under the Digital Nomad Visa Scheme from 100 to 500 residence permits.

4. Small business Ideas To Start In Cyprus

   Cyprus 1/28/2020 3:59:51 PM

   With its stunning scenery, warm climate and strong tourist market, Cyprus is a popular destination for expats from around the world.

5. Cyprus An Excellent European Option For International Trade

   Cyprus 11/12/2019 1:46:32 PM

6. World Gold Council Releases The 10 Responsible Gold Mining Principles

   Cyprus 10/10/2019 4:15:19 PM

   The World Gold Council (WGC), as the market development organization for the gold industry, recently launched its Responsible Gold Mining Principles (RGMP).

7. The Krugerrand Gold Coin

   Cyprus 8/2/2019 9:22:02 AM

   A springbok (a medium-sized antelope found mainly in southern and southwestern Africa), gracefully prancing through the sparse steppe, emerged to the embodiment of the bullion gold coin since 1967: The Krugerrand is the first modern bullion gold coin, celebrating its 50th birthday two years ago in 2017.

8. What are Bank Gold Accounts, and how do they work?

   Cyprus 8/2/2019 9:19:26 AM

   Since a very few years, banks all over the world reacted on the increasing demand in physical gold by small and medium sized bank customers. The banks’ answer is offering so-called Gold Current Accounts or Gold Saving Accounts, which became very popular in many countries.

9. Cyprus Film Production Scheme - Impressive Pick-Up

   Cyprus 6/24/2019 12:28:46 PM

   The scheme for the promotion of the film industry in Cyprus has started giving fruits less than a year after its introduction.

10. Redomiciliation to and from Cyprus

    Cyprus 6/11/2019 1:28:00 PM

    Re-domiciliation is the process through which a company can shift its domicile from one jurisdiction to another, by changing the country under whose laws it is registered, without losing its corporate identity.

11. “Risk-Off”, “Gold-On”

    Cyprus 6/6/2019 4:44:27 PM

    When the risk appetite of investors is tapered due to changing market sentiment, they choose ‘flight to quality’ investments such as safe-haven-assets, such as Gold, to protect their investment portfolio against further losses. A move that has long been as visible as during the month of May, 2019.

12. A New FinTech Hub for the Levant: StartechEUS FinHub

    Cyprus 6/3/2019 12:46:56 PM

    An exciting development in the FinTech industry and for the Lebanese economy: The first FinTech hub, StartechEUS FinHub, is scheduled to start operation soon with its offices located in Beirut, Lebanon at the Beirut Business District (BDD).

13. Shariah Gold Standard Encouraging Investors

    Cyprus 4/15/2019 9:18:11 AM

    Wealthy individuals in Islam have often been shying away from investing in gold and other precious metals in order to safeguard their investment portfolio against risks (and not for the purpose of speculation), as it did not exist as an investible Shariah-compliant asset until lately.

14. Implementation of Anti-Tax Avoidance Directive in to Cyprus Legislation

    Cyprus 4/12/2019 8:25:35 AM

    As reported recently through the interview of our Managing Director in TaxLinked.net, enactment of legislation was in process for the implementation of the European Commission’s Anti-Tax Avoidance Directive (ATAD). On 5 April 2019, the relevant bill was voted into law by the Cyprus Parliament. The main provisions have been covered in the interview. Some other points worth mentioning, following the enactment of the Law,

15. Gold Prices Up as Fed Moves Dovish

    Cyprus 3/26/2019 7:40:38 AM

    Gold prices leaped on Wednesday, 20th March, to $1.309 an ounce, up 0,19% on that day, following the Federal Reserve’s unexpected dovish stance.

16. Introduction of National Healthcare System in Cyprus

    Cyprus 3/19/2019 2:13:43 PM

    The General Healthcare System (GHS) Law came into force as from 1 March 2019.

17. Amendments to Cyprus Citizenship by Investment Scheme

    Cyprus 3/12/2019 2:22:12 PM

    The Council of Ministers of the Republic of Cyprus approved on 13 February 2019 a number of important amendments to the Citizenship by Investment Scheme, now officially termed as Cypriot Investment Scheme (the ‘Scheme’), offered by the country. The most important changes are covered below.

18. Abolition of Capital Duty and Other Important Changes in Cyprus Companies’ Law

    Cyprus 3/5/2019 9:20:08 AM

    Some important amendments to the Cyprus Companies’ Law (the ‘Law’) have been introduced recently through the Companies (Amending) Law (No.3) of 2018. Some of these changes are considered as in force as from the date of publication of the amending law, on 18 December 2018, whereas others are enforceable by the end of the year 2019 or upon relevant notification by the Registrar of Companies. The most important of these amendments are covered below.

19. Double Tax Treaty between Cyprus and Andorra Enters in to Force

    Cyprus 2/13/2019 1:43:16 PM

    As reported before, a Double Tax Treaty (DTT) was signed between Cyprus and Andorra on 18 May 2018. On 11 January 2019 the DTT entered in to force. It generally applies from 1 January 2020.

20. Reference Rates for 2019 for Notional Interest on Equity

    Cyprus 2/4/2019 5:16:43 PM

    The Cyprus Tax Department published on 30 January 2019 an update on bond yield rates per country as at 31 December 2018 to be considered for the notional interest deduction for 2019 to which equity injected in to Cyprus companies is entitled. The rates are as follows:

21. Cyprus International Trusts

    Cyprus 2/1/2019 3:19:05 PM

    The law governing the establishment of trusts in Cyprus is based on the English system. It is a combination of the English Principles of Equity and Statue Law. Cyprus International Trusts are regulated by the International Trusts Law 69(I)/1992 as amended by Law 20(I)/2012.

22. Double Tax Treaty between Cyprus and the UK - Amending Protocol in Force

    Cyprus 1/9/2019 8:36:33 AM

    As recently reported, a Protocol amending the new Double Tax Treaty between Cyprus and the UK of 2018 has been signed on 19 December 2018. In summary the Protocol provides for a “grandfathering” period for what concerns the taxation of pensions.

23. Physical Precious Metals Storage & Trade

    Cyprus 12/21/2018 9:47:35 AM

    Secured wealth outside the banking system

24. Fiducenter Managing Director Panellist at two events in November

    Cyprus 11/27/2018 12:20:53 PM

    November has been a busy month for our Managing Director, George Savvides, in terms of panel discussions.

25. German Court decides in favour of a Cyprus company in a CFC case

    Cyprus 11/6/2018 3:34:24 PM

    In a decision published on 17 October 2018, the German Federal Financial Court decided on the application of the German Controlled Foreign Company (CFC) legislation in a triangular case involving a Cyprus company.

26. Double Tax Treaty between Cyprus and Saudi Arabia approved by Saudi Council

    Cyprus 10/11/2018 11:42:22 AM

    Saudi Arabia's Shura Council (Majlis Al-Shura) approved the Double Tax Treaty (DTT) between Cyprus and Saudi Arabia on 26 September 2018. As previously reported the DTT was signed on 3 January 2018. The particulars of the DTT are presented below in summary.

27. Cyprus - Tax Treatment of Non-Refundable Capital Contributions

    Cyprus 10/2/2018 10:31:22 AM

    Through Interpretative Circular 25 (the “Circular”), released on 3 September 2018, the Cyprus Tax Department clarifies the tax treatment of non-refundable capital contributions (i.e. when a capital contribution is made to a company without any issue of shares in exchange) by Cyprus taxpayers (the “Contributor”) to companies, which are tax resident abroad.

28. ‘Film in Cyprus’ online platform and the new Cyprus filming scheme

    Cyprus 9/24/2018 3:20:57 PM

    Last year in September the Cypriot cabinet has approved a new filming scheme, which was created with the aim to attract overseas filming companies to shoot their films in Cyprus.

29. Double Tax Treaty between Cyprus and Andorra approved by Andorra

    Cyprus 9/24/2018 2:38:18 PM

    As reported before, a Double Tax Treaty (DTT) was signed between Cyprus and Andorra on 18 May 2018. On 13 September 2018 the DTT was approved by Andorra.

30. Blockchain working group in Cyprus

    Cyprus 9/11/2018 2:27:08 PM

    The Cypriot cabinet has decided to form a joint working group to develop and implement blockchain technology in Cyprus in order to keep up with the international developments.

31. Cyprus residence and work permits – Companies with Foreign Interest

    Cyprus 8/21/2018 2:49:50 PM

    Cyprus companies with non-EU shareholders that provided a paid-up capital of the company of minimum EUR 171.000 can employ up to 15 non-EU persons in upper and middle management positions, with residence and work permits issued by the Cyprus authorities. Family members can join by way of family reunification.

32. CySEC launches its FinTech and RegTech focused Innovation Hub

    Cyprus 8/7/2018 4:25:45 PM

    The Cypriot regulatory body, CySEC (The Cyprus Securities and Exchange Commission) has established an Innovation Hub, with the aim to address and explore the quickly evolving FinTech and RegTech developments.

33. Registry of approved service providers for the Cyprus Investment Programme (CIP)

    Cyprus 8/3/2018 12:38:06 PM

    The Committee of Supervision and Control for the Cyprus Investment Programme has published its registry, listing all the licensed service providers for the Cyprus Citizenship by Investment Program.

34. Investing in Cyprus, the little Powerhouse

    Cyprus 7/31/2018 2:56:08 PM

    Investing in Cyprus – the little Powerhouse between Europe and the Middle East

35. Collective Investment Schemes in Cyprus: Important Legislative Measures

    Cyprus 7/26/2018 11:20:45 AM

    A series of legislative measures were recently voted by the Cyprus Parliament in order to further encourage the establishment of funds in Cyprus as well as to attract foreign investors and senior executives in firms offering fund administration services in order to relocate to Cyprus and become tax residents of the country. The measures decided are briefly covered below.

36. Cyprus Unregulated Funds (Registered Alternative Investment Funds, “RAIF”)

    Cyprus 7/25/2018 2:37:59 PM

37. UK ratifies Double Tax Treaty with Cyprus

    Cyprus 7/17/2018 7:49:32 AM

    As we reported earlier on, a new Double Tax Treaty (DTT) was signed between Cyprus and the UK on 22 March 2018.

38. The purchasing power of physical gold and silver

    Cyprus 7/12/2018 12:33:31 PM

    The purchasing power of physical gold and silver – hedging inflation and economic risks

39. Cyprus Company Obligations

    Cyprus 7/11/2018 9:07:08 AM

    With ever increasing regulations and reporting requirements, it is now of even more importance to ensure that Cyprus companies are meeting all of their statutory and other reporting obligations.

40. The Cyprus Investment Programme

    Cyprus 7/9/2018 2:41:44 PM

    The Cyprus Citizenship by Investment Programme – Your Passport to the EU

41. Cyprus Leads In CBI Index

    Cyprus 7/9/2018 11:12:52 AM

    The Financial Times’ Professional Wealth Management, in its recent study of citizenship by investment (CBI) programmes, has ranked Cyprus above other EU countries. A primary objective of the CBI Index is to identify factors which satisfactorily measure the features and desirability of CBI programmes in various jurisdictions.

42. Cyprus: An Asset To International Business Companies

    Cyprus 7/5/2018 8:22:17 AM

    Cyprus is considered as a leading jurisdiction for international business companies, as well as one of Europe’s most significant business and financial centres, thanks to its trustworthy legal system, favourable tax laws, stable tax policies and straightforward business legislation.

43. Cyprus Leads In Citizenship By Investment Index

    Cyprus 7/3/2018 3:25:04 PM

    The Financial Times‘ Professional Wealth Management, in its recent study of citizenship by investment (CBI) programmes, has ranked Cyprus above other EU countries. A primary objective of the CBI Index is to identify factors which satisfactorily measure the features and desirability of CBI programmes in various jurisdictions.

44. Cyprus – Luxembourg double tax treaty entered into force

    Cyprus 7/2/2018 10:33:33 AM

    The double taxation avoidance treaty between Cyprus and Luxembourg which was signed on 8 May 2017 in Nicosia, has entered into force on 21 of May 2018 with the application of its provisions starting 1 January 2019 aiming to expand trade and economic relations between the two countries.

45. Interview of our Managing Director during Going Global 2018

    Cyprus 6/27/2018 2:45:17 PM

    We are delighted to announce the release of the video with the interview of our Managing Director, George Savvides, during the Going Global Exhibition 2018.

46. The Cyprus IP-Box Regime

    Cyprus 6/27/2018 12:51:10 PM

    Simultaneously with all other EU countries, Cyprus adopted a new IP Box Regime as per the provisions of the OECD BEPS Action 5 and the new EU rules for the tax treatment of profit from the utilisation of intellectual property.

47. Cyprus Start-Up Visa For Third Country Entrepreneurs – An Alternative Access To Europe

    Cyprus 6/27/2018 8:46:49 AM

    European Union (EU) and non-European Economic Area (EEA) nationals, to reside in Cyprus and to establish, operate and develop innovative startup businesses with a good prospect of high growth, provided they meet certain criteria.

48. Cyprus Non-Domicile Individuals (Non-Dom)

    Cyprus 6/21/2018 1:24:35 PM

    Cyprus remains one of the best and most popular corporate jurisdictions.

49. Income Tax Exemptions on Employment in Cyprus - Tax Circular

    Cyprus 6/20/2018 7:30:28 AM

    Interpretative Circular 2017/4 (the “Circular”), issued by the Cyprus Tax Department, deals with exemptions from income tax of income from employment in the Republic of Cyprus.

50. Dionysiou & Partners LLC Wins Commercial Law Award 2018 By International Advisory Experts (IAE) Publication

    Cyprus 6/18/2018 2:14:19 PM

    One of Cyprus’ leading corporate law firms, Dionysiou & Partners LLC, has recently earned the honourable ‘International Advisory Expert (IAE) Award for Commercial Law in Cyprus’.

51. Advantages Of A Cyprus Company

    Cyprus 6/12/2018 4:48:41 PM

    The establishment of a Cyprus company may, if structured correctly, offer a tax efficient way for businessmen around the world to conduct their business internationally. Below you may find a list of advantages which should be taken into consideration and which will assist you in determining whether a Cyprus company is in fact the ideal corporate structure for your business:

52. Cyprus Passport scheme – stricter procedures, limited number of passports

    Cyprus 6/11/2018 1:03:48 PM

    Due to the mounting criticism of foreign countries Cyprus has tightened its vetting process in its Citizenship by investment scheme.

53. Redomiciliation Of Overseas Companies To Cyprus

    Cyprus 6/11/2018 10:36:09 AM

    Cyprus legislation allows for the redomiciliation of companies. Companies from an alternate jurisdiction can initiate a transfer of their registered office to Cyprus thus being able to benefit from Cyprus’ favourable tax environment and at the same time keep its original legal identity.

54. Initial Coin Offering (ICO) Through Cyprus

    Cyprus 6/7/2018 7:32:47 AM

    Initial Coin Offerings (ICOs) are gaining considerable recognition in the finance world. ICOs are considered somewhat a contemporary method of collective funding; nonetheless, despite its novelty, ICOs are becoming the go to method in terms of fundraising start-ups and other entities whose objectives are commonly the financing innovative Blockchain technology schemes.

55. Cyprus Introduces Incentives For Global Film Industry

    Cyprus 6/6/2018 11:27:53 AM

    Towards the end of 2017, the Cyprus Council of Ministers approved an incentives programme for the film industry in Cyprus. The programme aims to attract international productions to Cyprus and includes a great array of economic incentives.

56. Responding to Challenges

    Cyprus 6/6/2018 9:10:54 AM

    A World Full of Challenges…

57. Luxembourg ratifies Double Tax Treaty with Cyprus

    Cyprus 6/6/2018 9:05:51 AM

    As per a relevant publication in the Journal Officiel du Grand-Duché de Luxembourg, Luxembourg ratified the Double Tax Treaty (DTT) with Cyprus on 17 April 2018.

58. Double Tax Treaty signed between Cyprus and Andorra

    Cyprus 6/6/2018 9:03:05 AM

    Cyprus and Andorra signed a Double Tax Treaty on 18 May 2018. The treaty is based on the OECD Model Tax Convention and incorporates the minimum standards introduced by the OECD Base Erosion and Profit Shifting (BEPS) project. Further details will be reported subsequently.

59. Double Tax Treaty between Cyprus and Luxembourg enters in to force

    Cyprus 6/6/2018 9:01:51 AM

    The Double Tax Treaty between Cyprus and Luxembourg (DTT) entered into force on 21 May 2018. The treaty will generally apply as from 1 January 2019.

60. Fiducenter Cyprus @ Going Global 2018

    Cyprus 6/6/2018 8:49:36 AM

    Interview of our Managing Director, George Savvides, on the occasion of participating, for yet one more year, in the Going Global Exhibition held in Excel London on 16 & 17 May 2018. Find out why Cyprus can be considered as an ideal base not only for expanding overseas but also for servicing existing international markets, something of particular importance for the UK in the light of Brexit.

61. Protocol to Cyprus - Mauritius Double Tax Treaty enters in to force

    Cyprus 6/6/2018 8:46:18 AM

    On 30 April 2018 the amending Protocol to the Double Tax Treaty (DTT) between Cyprus and Mauritius, which signed on 23 October 2017, entered into force.

62. Cyprus economy uptrend continues in 2018

    Cyprus 6/4/2018 2:45:07 PM

    During the first quarter of 2018, the economy of Cyprus rose by 0,8%, compared with Q1 of the previous year. The European Bank for Reconstruction and Development readjusted its forecast for the economic growth of Cyprus in 2018 from 2,5% to 3,2%, while the European Commission estimates 3,6%.

63. Cyprus company registrations - 2018 Q1 overview

    Cyprus 5/29/2018 10:35:47 AM

    The number of new Cyprus company registrations continues to rise in 2018.

64. Fiducenter at Going Global 2018

    Cyprus 5/23/2018 5:24:23 PM

65. Insuring physical precious metals – are you fully covered?

    Cyprus 5/22/2018 10:37:12 AM

    Insuring our valuables and the precious things that we have is essential. If you own physical gold, silver or other precious metals, you would not like to risk loss of a part of your wealth. But are you sure that the insurance of your gold and silver really provides full coverage, full in terms of the full value being insured, and in terms of really being insured against all risks?

66. Cyprus International Trusts

    Cyprus 5/21/2018 3:08:08 PM

    The law governing the establishment of trusts in Cyprus is based on the English system. It is a combination of the English Principles of Equity and Statue Law. Cyprus International Trusts are regulated by the International Trusts Law 69(I)/1992 as amended by Law 20(I)/2012.

67. The New Cyprus India Double Taxation Avoidance Agreement (DTAA)

    Cyprus 5/3/2018 2:31:28 PM

    Published on: 05/05/2017 After some years of tough negotiations, the new Cyprus India Double Taxation Avoidance Agreement (DTAA) has been signed on 18 November 2016. The new Cyprus India DTAA is expected to re-boost trade and investment activities between the two countries.

68. Cyprus Tax Residence status for individuals in 60 days

    Cyprus 5/3/2018 2:28:41 PM

    The Parliament of Cyprus has approved by common consent the proposal of amending the rules for determining tax residency of individuals in Cyprus.

69. Cyprus: An ideal gateway

    Cyprus 4/5/2018 9:20:45 AM

    Over the last few years the international business sector has experienced unprecedented changes, which have totally reshaped the landscape including…

70. Investing In Precious Metals

    Cyprus 4/4/2018 6:03:08 PM

    More and more wealthy individuals (HNWIs) and funds prefer to invest in precious metals, mainly gold, relying on its physical and sustainable value in times where monetary currencies are exposed to over-heated economies and unpredictable political decisions.

71. Russia: Law amending CFC and corporate tax residence rules signed and published

    Cyprus 4/4/2018 2:31:00 PM

    The President of the Russian Federation signed on 29 December 2017, Law No. 436-FZ of 28 December 2017 (the Law), which amends the Tax Code and several legislative acts. The Law was thereafter published in the official government portal. It provides for the following main changes in controlled foreign company (CFC) rules:

72. Cyprus - Russia Double Tax Treaty – Court decision for thin capitalization rules

    Cyprus 4/3/2018 3:43:02 PM

    The Russian Supreme Court (the ‘Court’) issued a decision on 6 March 2018 for to the case OJSC SUEK-Kuzbass, related to the application of the Double Tax Treaty between Cyprus and Russia of 1998 as amended in 2010 (the ‘DTT’).

73. Cyprus and the UK sign new Double Tax Treaty

    Cyprus 4/3/2018 3:31:49 PM

    Cyprus and the United Kingdom signed an updated double tax treaty with respect to Taxes on Income and Capital Gains and the Prevention of Tax Evasion and Avoidance on Thursday, the 23rd of March 2018.

74. The Cyprus Holding Company

    Cyprus 4/3/2018 3:23:13 PM

    Choosing the appropriate location for a holding company may be a complex procedure, which involves careful consideration of various tax and non-tax factors.

75. Double Tax Treaty between Cyprus and Ukraine – Taxation of dividends in Ukraine

    Cyprus 3/28/2018 11:17:03 AM

    On 15 February 2018, the Ukrainian State Fiscal Service (SFS) published a Guidance Letter (the "Letter"), which clarifies the tax treatment of dividends paid by a Ukrainian resident to a resident of Cyprus based on the Double Tax Treaty (DTT) between the two countries of 2012.

76. New Double Tax Treaty between Cyprus and UK

    Cyprus 3/26/2018 12:50:51 PM

    On 22 March 2018, Cyprus and the UK have signed a Double Tax Treaty (DTT). Once in force and effective, the treaty will replace the existing DTT between the two parties of 1974. The new treaty is generally based on the OECD Model Tax Convention framework, albeit with some modifications.

77. Tax Circular clarifying income eligible for 50% exemption from personal tax

    Cyprus 3/20/2018 8:32:29 AM

    We have reported several times in the past about the very attractive personal tax exemption of 50% of employment income of a non-resident person taking up residence in Cyprus to work for an employer in the country.

78. Double Tax Treaty between Cyprus and Russia – Clarification of Direct Investment requirement

    Cyprus 3/20/2018 8:29:28 AM

    On 23 February 2018 the Russian Ministry of Finance (MoF) issued a clarification with regards to the interpretation of the term “direct investment” in relation to dividends as per the Double Tax Treaty (DTT) between Cyprus and Russia of 1998, as amended in 2010. The clarification is based on what was agreed by the competent authorities of Russia and Cyprus on this matter.

79. The New Era of International Business

    Cyprus 3/20/2018 8:24:44 AM

    We are delighted to announce that our new website and corporate video are now available and have very recently gone live!

80. Fiducenter Cyprus - The New Era of International Business Services

    Cyprus 3/13/2018 3:42:15 PM

    We provide a comprehensive range of international business services related to Cyprus, including professional consultation, accountancy and tax compliance and administration, formation of investment funds, companies, trusts and other investment and business vehicles, immigration, bespoke services related to specific sectors and structures and much more.

81. The impact of industrial nations on global tax evasion

    Cyprus 2/20/2018 2:03:29 PM

    Are we doing something wrong in this world when it comes to fighting tax evasion? Obviously, yes!

82. Migrate to Cyprus!

    Cyprus 2/6/2018 2:48:52 PM

    Explore Migration Opportunities in Cyprus

83. Cyprus’ Significant position in the EU ‘Horizon 2020’

    Cyprus 2/5/2018 1:47:42 PM

    Cyprus has ranked first in the EU in terms of per capita absorption of funds from ‘Horizon 2020’ Research and Innovation Programme, Dr. Vassilis Tsakalos, General Director of the Cyprus Research Promotion Foundation (RPF), has said CNA.

84. Banque du Liban (BDL)’s assets increased by 16%

    Cyprus 2/5/2018 1:43:34 PM

    According to the Lebanon’s Central Bank or Banque du Liban (BDL)’s balance sheet, total assets of the bank reached $118.3 billion at the end of 2017, rising by $15.9 billion which is 16% increase compared with the previous year.

85. Cyprus and Saudi Arabia signed Double Taxation Treaty

    Cyprus 2/5/2018 1:39:35 PM

    Double Tax Avoidance Agreement (DTAA) was signed between Cyprus and Saudi Arabia on 03 January 2018, in Riyadh for the avoidance of double taxation between two countries and the prevention of tax evasion.

86. Cyprus for ICT and R&D Business

    Cyprus 2/1/2018 11:29:24 AM

    Cyprus is rapidly developing as a centre for Information and Communication Technology (ICT) and Research and Development (R&D)

87. Cyprus Startup Visa for third country nationals

    Cyprus 2/1/2018 11:11:21 AM

    The Cypriot cabinet has approved the so-called Cyprus Startup Visa scheme on the 15th of February 2017 with the aim to attract foreign investments from non-EU countries (third countries) to Cyprus in the fields of innovation and research and development (R&D).

88. Substance in Cyprus

    Cyprus 2/1/2018 10:53:59 AM

    The changing regulatory requirements, global tax reforms and initiatives such as the Base Erosion and Profit Shifting (BEPS) action plan undertaken by the OECD raise important questions for international financial centres and companies.

89. Where will my Cyprus Company get taxed?

    Cyprus 1/29/2018 9:14:19 AM

    The definition of tax residency of companies varies from country to country.

90. Cyprus as a Regional Hub/ Gate to the EU

    Cyprus 1/29/2018 9:11:13 AM

    The History of Cyprus as a Commercial Regional Hub

91. Bank Account opening in Cyprus and in other EU countries

    Cyprus 1/29/2018 8:58:03 AM

    This article informs about necessary documents and information required for the opening of a bank account in Cyprus or elsewhere.

92. How to register a Cyprus Company?

    Cyprus 1/29/2018 8:52:58 AM

    About Cyprus Company Formation and Cyprus Company Registration

93. Corporate migration to Cyprus

    Cyprus 12/19/2017 9:42:39 AM

    In line with the international practice of permitting companies to move their seat of incorporation, companies are allowed under the laws of Cyprus to change their jurisdiction.

94. Film Production Scheme to be introduced in Cyprus

    Cyprus 10/10/2017 8:46:46 AM

    The Council of Ministers of the Republic of Cyprus approved on 27 September 2017 a scheme aiming to put Cyprus on the map of attractive destinations for shooting films and other audio-visual productions.

95. Incentives to invest in/relocate to Cyprus

    Cyprus 9/13/2017 9:18:13 AM

    As part of its effort to attract foreign high net worth individuals as well as to attract qualified individuals to relocate and work in the country, either on their own or as part of a group structuring/reorganisation, Cyprus offers some very attractive incentives.

96. Work permits for Cyprus companies

    Cyprus 9/8/2017 10:33:16 AM

    As an alternative route to obtaining Cyprus residency by investment, individuals can obtain work permits for Cyprus companies that they are directors.

97. Starting up your company in Cyprus

    Cyprus 9/6/2017 8:19:29 AM

    Why register your Company in Cyprus? Cyprus is considered to be one of the most attractive jurisdictions in Europe to form a limited liability company due to its advantageous tax system. As a full member of the EU, Cyprus is ideal for holding assets in Europe because it offers you the same benefits that a traditional offshore jurisdiction has to offer.

98. Interpretative Circular on exemptions from income tax in relation to employment in Cyprus

    Cyprus 8/21/2017 1:51:49 PM

    On 24 July 2017 the Cyprus Tax Department has issued Interpretative Circular 2017/4 (the “Circular”) regarding exemption from income tax of income from employment in the Republic of Cyprus.

99. Important amendment in individual tax residency rules in Cyprus

    Cyprus 8/21/2017 1:49:55 PM

    On 14 July 2017 the Parliament of Cyprus approved a bill that gives the right to an individual to be considered as tax resident in Cyprus, provided that he meets certain requirements. The new provision provides an incentive to individuals who are not tax residents in any other state for any tax year to transfer their tax residence to Cyprus.

100. Cyprus – Important Amendments on Assessment and Collection of Taxes Law

     Cyprus 8/21/2017 1:45:21 PM

     On 14 July 2017 a law amending the Assessment and Collection of Taxes Law was published in the Official Government Gazette of the Republic of Cyprus. The amending law provides for the following:

101. Tax treatment of related party financing transactions – Guidance issued by Cyprus Tax Authorities

     Cyprus 8/21/2017 1:43:11 PM

     As we have reported before the fixed profit spreads applied on related party financing transactions adopted by the Cyprus Tax Authorities were set to be abolished on 1 July 2017. On 30 June 2017 the Cyprus Tax Authorities issued a Circular in relation to the new rules to apply on this area from 1 July 2017 onwards.

102. Migrate your company to Cyprus!

     Cyprus 8/7/2017 8:46:47 AM

     In line with the international practice of permitting companies to move their seat of incorporation, companies are allowed under the laws of Cyprus to change their jurisdiction.

103. Fiducenter Cyprus - Going Global Live Event

     Cyprus 2/17/2017 9:07:39 AM

     Fiducenter Cyprus

104. Cyprus company obligations

     Cyprus 1/16/2017 8:59:14 AM

     With ever increasing regulations and reporting requirements, it is now of even more importance to ensure that Cyprus companies are meeting all of their statutory and other reporting obligations.

105. Cyprus – An Appealing Option After Brexit

     Cyprus 7/11/2016 8:23:25 AM

     As the dust begins to settle from the recent verdict of the UK people to exit the EU, business decision-makers and individuals seem to be left with more questions than answers. Depending on the specific circumstances of each business/individual, the extent of the impact from the Brexit will vary. Subsequent to the evaluation of the impact, each person will have to consider its options and take immediate and possibly tough decisions.

106. The Reformed International Business World - Does Cyprus have a place in it?

     Cyprus 6/8/2016 10:15:16 AM

     Over the last few years the worldwide international business sector has experienced unprecedented changes, which have totally reshaped the landscape.

107. Cyprus changes tax regime on royalties

     Cyprus 1/27/2016 9:20:59 AM

     In late December, the Ministry of Finance issued a press release on an amendment to the Intellectual Property tax regime.

108. Incentives for investing/relocating in Cyprus

     Cyprus 8/3/2015 3:27:29 PM

     As part of its effort to attract foreign high net worth individuals as well as to attract qualified individuals to relocate and work in the country, either on their own or as part of a group structuring/reorganisation, Cyprus offers some very attractive incentives

109. Cyprus CySEC License

     Cyprus 6/2/2015 12:43:31 PM

     An Investment Firm licensed in Cyprus, can be for the provision of investment services from Cyprus in all EU markets by simply pass porting its license, while it can also offer investment services to third countries. Such services can be offered on a cross-border basis or by establishing a physical presence in the jurisdiction into which the services will be provided.

110. Cyprus An Excellent European Option For International Trade

     Cyprus 6/1/2015 3:09:42 PM

     The Use Of The Cyprus International Trading Company In International Tax Planning

111. Bilateral Agreements signed between Cyprus and Bahrain

     Cyprus 3/12/2015 2:48:02 PM

     On Monday 9th of March 2015, the President of the Republic of Cyprus, Mr Nicos Anastasiades officially visited Bahrain, accompanied by the Minister of Foreign Affairs, Mr Ioannis Kasoulides and the Government spokesman, Mr Nicos Christodoulides, whereas they were welcomed by the King of Bahrain Hamad bin Isa Al Khalifa at the Palace in Manama.

112. Cyprus Tax Authorities will soon tap into taxpayers’ bank accounts

     Cyprus 3/5/2015 12:42:25 PM

     A new legislation, according to which the Tax Department will have the authority to tap into bank accounts of taxpayers without a court order in order to obtain any unsettled taxes, is expected to be enacted soon. The legislation was voted a few months ago for the purpose of boosting governmental funds and it was recently announced by the Cyprus Minister of Finance during the parliamentary discussions that the new law will be applied as early as March 2015.

113. Russia’s Deoffshorization Law and Cyprus companies

     Cyprus 2/25/2015 1:40:44 PM

     Cyprus companies have a long history of presence in Russian structures. The Russian Deoffshorization Law and more specific the introduction of Controlled Foreign Company (“CFC”) rules which was set to prevent the shift of profits in preferential tax jurisdictions and re-route funds back to Russian could also shudder the domination of Cyprus companies in such structures.

114. Cyprus expands its Double Tax Treaty network - Lithuania

     Cyprus 1/28/2015 10:50:35 AM

     A double tax treaty (“DTT”) was signed between Cyprus and Lithuania in June 2013. The treaty which follows the OECD Model Convention for the avoidance of Double Taxation on Income and on Capital has been ratified by the two Contracting States and has entered into force as of 1 January 2015.

115. Signing of FATCA agreement between the Republic of Cyprus and United States of America

     Cyprus 12/3/2014 11:06:18 AM

     On 2nd of December 2014, the Minister of Finance Mr Harris Georgiades on behalf of the Republic of Cyprus and the Ambassador of the United States in Nicosia, Mr John M.Koenig, have signed the Intergovernmental agreement (Model 1A Intergovernmental Agreement –“IGA”) to strengthen the international tax cooperation for the implementation of FATCA (Foreign Account Tax Compliance Act).

116. Controlled Foreign Companies (“CFC”) legislation voted by the State Duma

     Cyprus 11/19/2014 1:17:10 PM

     A lot has taken place since the Russian President Vladimir Putin had called for the deoffshorization of the Russian economy in order to repatriate capital being channeled in offshore jurisdictions and to combat tax avoidance.

117. Molybank Now Offer Merchant Card Services For UK & Cyprus Companies

     Cyprus 9/24/2014 12:18:15 PM

     Further to meeting this week with our friends at Rietumu Bank we are now able to offer Merchant Card facilities for certain business sectors.

118. Why substance is important to Cyprus companies?

     Cyprus 9/18/2014 8:53:38 AM

     The need for tax efficient structures has magnified with the recent global economic downturn and the increased scrutiny from Tax Authorities worldwide. Companies need to carefully select the jurisdiction they use for implementing such structures as well as implement their structuring with a careful look on substance so as to be able to mitigate risks and taxes.

119. Hellenic Bank Ranked Safest Bank In Cyprus In 2014

     Cyprus 9/17/2014 12:27:46 PM

     Molybank are licensed introducers to Hellenic Bank

120. Cyprus - New Residence Permits for third country nationals

     Cyprus 9/15/2014 11:03:41 AM

     On the 23rd of August 2014 the Civil Registry and Immigration Department of Cyprus (CRID), announced that new special residence permits for third country nationals who are employed by foreign-owned companies will be issued.

121. Cyprus expands its Double Tax Treaty network with Lithuania & Guernsey

     Cyprus 9/5/2014 10:53:15 AM

     Cyprus, which has been long established as a solid economic and business centre worldwide, seeks to reinforce its title as a beneficial investment hub by expanding its double tax treaty network and creating stronger economic and trade relations with other Contracting States.

122. Mini One Stop Shop (MOSS)

     Cyprus 7/25/2014 2:14:28 PM

     From 1 January 2015 significant changes will be introduced in the EU VAT legislation for the provision of services in the areas of telecommunications, broadcasting and electronic services.

123. The Cyprus Emerging Companies Market. A safeguard to CFC rules?

     Cyprus 6/30/2014 8:58:52 AM

     In light of the recent financial turmoil and the ever increasing need for the attraction of new investors and companies in the country, the CSE established in 2010 its Emerging Companies Market (“ECM”).

124. Cyprus Investment Firm (CIF): A good vehicle into the European Investment Arena

     Cyprus 6/13/2014 10:53:24 AM

     The introduction of the Market in Financial Instruments Directive of the European Union marked a new era in the regulation of investment firms in Europe. Cyprus has implemented the Directive, offering in this way a flexible and reliable entering point into the EU market for both EU firms that require a license and for non-EU firms that wish to have a place of business in the EU.

125. New criteria for a Cypriot Citizenship

     Cyprus 6/10/2014 2:46:34 PM

     Scheme for naturalization of investors in Cyprus by exception on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2013

126. Timeframes for registration of Cyprus International Trusts

     Cyprus 6/3/2014 9:15:30 AM

     The Law Regulating Companies Providing Administrative Services and Related Matters, Law 196(I)/2012 ('the Fiduciaries Law') was enacted in December 2012 establishing a licensing and supervisory body for corporate and fiduciary services providers as per Directive 2005/ 60/EC of the European Union.

127. Cyprus to sign a FATCA agreement with the US Treasury

     Cyprus 6/3/2014 9:06:56 AM

     The Inland Revenue Department of the Republic of Cyprus is expected to sign the Model 1 InterGovernmental Agreement (“IGA”) with the US Treasury in accordance with the provisions of the Foreign Account Tax Compliance Act (FATCA).

128. The Cabinet of Cyprus passes Bill for the formation of a Unified Single Tax Authority

     Cyprus 6/3/2014 9:03:16 AM

     On the 23rd of April 2014 the Cabinet of Cyprus has passed a Bill providing for the establishment of a “Unified Single Tax Authority” which will be dealing with all tax issues in the country. This new unified body will essentially absorb the powers of the Cyprus Income Tax Authority and the Cyprus VAT Authority while the last two bodies will be abolished.

129. Laws part of the Memorandum agreed for financial assistance to be provided by the Troika voted by Cyprus Parliament

     Cyprus 1/16/2013 10:36:27 AM

     A number of Laws were voted by the Cyprus Parliament during the past few days/weeks as part of the preliminary agreement (Memorandum) reached between the government of Cyprus and the Troika (EU, European Central Bank and International Monetary Fund) for financial assistance to be provided to Cyprus.

130. Cyprus Commercial Companies and the need for Substance

     Cyprus 1/16/2013 10:34:39 AM

     The purpose of this article is to present the benefits for foreign investors of using Cyprus for carrying out commercial activities, as well as the peculiarities of setting up and operating such structures as compared to holding companies, portfolio investment companies, royalty companies and in general any other operations, which do not require resources of the quantity and extent of those required for commercial set-ups in order to be carried out.

131. Formation Of A Cyprus Company

     Cyprus 1/16/2013 10:31:23 AM

     The Cyprus Private Limited Liability Company has been very popular lately as a vehicle in International Tax Planning, mainly due to the low taxes that apply and the plethora of Treaties that Cyprus is bound by.

132. Is Cyprus right for you?

     Cyprus 3/12/2010 11:00:00 AM

     Cyprus excellent climate with sunshine almost all-year round and beautiful sandy beaches, of the cleanest in Europe, Cypriots high standard of living, no records of homelessness and low crime rate, make Cyprus an ideal location to visit and live.

133. The Web In Cyprus: How To Choose The Right Firm

     Cyprus 2/4/2010 11:08:01 AM

     A proper website is now considered as a pre-requisite in an aim to increase business turnover. Even small businesses also profit from a website that can give them popularity, attract new customers and help them market their product or services better.

134. Doing Business In Cyprus 2010

     Cyprus 2/4/2010 11:05:51 AM

     The accounting, the banking, legal, and tourism sectors, have made Cyprus a reputable international business centre.

135. 300 Million Euro Injection For Cypriot Economy & Small Businesses

     Cyprus 1/22/2009

     The European Investment Bank announces plans to plough 300 million Euros into the Cypriot economy to support government development projects and further aid flaying businesses.