Cyprus – Initiation of Beneficial Owner’s Register Pursuant to the issuance of the updated Regulation for the Beneficial Owner’s Register (as per Κ.Δ.Π. 112/2021), published in the Republic of Cyprus on the 12th March 2021, we would like to update you that the Registrar of Companies has announced the electronic service for the registration of...Read More

Exchange of Information from the Criminal Record between EU countries EU Council Framework 2009/315/JHA of 26 February 2009 regulates the organization and content of the exchange of information from the criminal record between Member States. The Framework Decision comprises the general principles for the operation of the exchange of criminal records between EU countries, together...Read More

Introduction of new rules governing derivatives on virtual currencies – Cryptocurrencies The Cyprus Securities and Exchange Commission (CySEC) issued for the first time regulations regarding cryptocurrency, which can be found in Circular C417, published in the end of November 2020. These rules have as a main aim to safeguard that Cyprus Investment Firms (CIFs), make...Read More

Additional restrictive measures against the pandemic COVID-19 Extraordinary Measures on an island-wide scale with effect from 31/12/2020 (06:00 am) to 31/12/2020 (11.59 pm) The Council of Ministers has decided the extension of the validity of the current measures and their reinforcement with the following additional measures, which will take effect on Friday 11 December, at 6:00 in...Read More

Additional restrictive measures against the pandemic COVID-19 Extraordinary Measures on an island-wide scale with effect from 30/11/2020 (00.01 am) to 13/12/2020 (11.59 pm) The movement of persons is prohibited from 9 p.m. until 5 a.m. with the following exceptions: (i) Movement to/from work, as well as for work reasons by presenting the employee movement confirmation...Read More

Extension of Deadline for the Submission of Personal Income Tax Statements We would like to inform you that in accordance with the Decree issued on the 27 November 2020 under Κ.Δ.Π. 562/2020, the following deadlines have been extended to the 15 December 2020: Electronic submission of the 2019 personal income tax return by employees and...Read More

Update on COVID-19 Restriction Measures In light of the worsening COVID-19 spread in the community, the Ministry of Health has announced that the following restriction measures as be enforced as of 20:00 on the 12th November 2020 and remain in force until the 30th November 2020: CATEGORY A MEASURES – Pancyprian Application Gatherings of persons...Read More

Establishment of a Medical Company in Cyprus With a publication in the Official Gazette of the Republic of Cyprus, on 19.07.2013, the Law on Registration of Doctors (Amended) of 2013 (Law 73 (I) / 2013) (hereinafter “the Law”) was issued. The Law provides for the establishment of Medical Companies and establishes the legal framework for...Read More

Cyprus – Update on COVID-19 Restriction Measures The spread in the community was assessed and taken into account, as well as the risk of specific activities, where there is an increased risk of high spread of the virus. Specifically and analytically, the measures are categorized into three groups as follows: Category A. Medium-term measures in...Read More

On the 13th October 2020 the Council of Ministers has decided to proceed with the Termination of the Cyprus Citizenship Scheme, citing reasons of weakness into the review and due diligence system and various loopholes which potential investors took advantage of. The above decision shall come into force as of the 1st November 2020. Any...Read More