The Council of Ministers has exercised its discretion and has, as of the 18th December 2018, amended the Regulations governing the applicable fees of the Registrar of Companies, by the issuance of the new ΚΔΠ 364/2018.Read More

The Central Bank of Cyprus (“CBC”) issued a circular (Ref. BS 6020) on 02/11/2018, with the purpose of clarifying and further explaining the vague information and definitions about the so-called “shell companies” and entities in Cyprus and how licensed Financial Institutions should deal with them. This was highly needed as the original circular which was...Read More

The Cyprus Securities and Exchange Commission (the ‘CySEC’), has issued a Circular on the 5th November 2018 (Circular C286), to inform the Regulated Entities that the Financial Action Task Force (FATF) has published a Risk-Based Approach Guidance for the Securities Sector.Read More

The Cyprus Parliament has passed on the 3rd November 2017 an amendment to the relevant VAT law, effectively introducing VAT imposition at the standard rate (currently 19%) to the sale of land which is for building purposes and the leasing and/or rental of business premises.Read More

The Cyprus Parliament has passed on the 29th September 2017 an amendment to the relevant law, effectively extending the deadline for individuals and corporations and entities to file for any apply for the scheme of settlement of taxes which are in arrears.Read More

Cyprus has introduced new rules with respect to establishing the tax residency of individuals, by an amendment to the Cyprus Income Tax Law passed in July 2017. It is important to note that although the law was amended in July 2017, it shall have retrospective effect as of the 1st January 2017 and as such,Read More

Further to the recent amendments introduced in Cyprus as to the Tax Treatment of intra-group back-to-back Financing Agreement, as of the end of June 2017 the Tax Department in Cyprus has released its Circular as to its interpretation of these new provisions. A brief summary of the interpretation to be followed by the Tax Department...Read More

Partnership Law has a long-standing background in Cyprus, but it is worth noting that it has received a notable update in October 2015, by the amendments introduced to the General and Limited Partnership and Business Names Law (the “Law” by the amending Law 114(I)/2015.Read More

In continuation of the ratification of the Cyprus-Iran Double Tax Treaty in January 2017, the Cyprus Government has announced that the Cyprus-Iran Double Taxation Treaty has now entered into force and will come into effect as from the 1st January 2018.Read More

In accordance with relevant notification by the Cyprus Tax Department, there will be a termination of the current tax practice in relation to the minimum acceptable margins on loans granted to related parties. This decision comes as a result of the Tax Department  taking into consideration the International developmentsRead More