Cyprus Investment Firms & Procedures Concerning Handing Complaints

The Cyprus Securities and Exchange Commission (CySEC) updated the Directive DΙ144-2007-01 of 2012 concerning the activities of Cyprus Investment Firms (CIFs). The updated Directive further explains and complements the policies of 18(2) and 29 policies regarding the Investment Services and Activities and Regulated Markets Law passed in 2007. CySEC has also issued a circular with […]


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OECD improves tax exchange of information in Cyprus

The Organization of Economic Cooperation and Development (OECD) has recently praised Cyprus as being largely obedient and compliant for complying with all the features linked to the Exchange of Information (EOI). In OECD’s October report, Supplementary Peer Review Report, the organization praised Cyprus for its compliance to the EOI criterion, a fact that benefits India […]


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CYPRUS DTT NETWORK UPDATE

NEW Cyprus- Bahrain DTT agreement signed in March 2015 In an attempt to strengthen its relations with Gulf countries, Cyprus recently signed a Double Tax Treaty (DTT) agreement with Bahrain.  The DTT agreement between the two countries was signed on 9 March 2015. It is expected that upon signing the DTT, economic and trade ties […]


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Dubai: Opening a bank account

If an individual is an owner or a part owner of a registered onshore or offshore company in Dubai, then he/she is able to set up a corporate bank account for the company. Furthermore, Dubai allows residents and non-residents to open private bank accounts. The emirates also allow companies that are not based in Dubai […]


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Cyprus Investment Firms

The Cyprus Investment Firms Law 144(I)/2007 includes the legislation concerning investment terms and subsidiary services as well as particular policies concerning capital requirements, the setting up of branches, supervision and authorization of Cyprus Investment Firms (CIFs). In order to be granted CIF authorization, applicants must make a formal application and meet particular requirements. The most […]


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Cyprus enhances migration benefits

After two critical years, the economy of Cyprus is finally starting to stabilize. Over two years have passed since the island’s banking sector crashed, where the government was obligated to sequestrate deposits over €100,000 in order to stop the entire country from collapsing financially. Since March 2013, Cyprus’ economy has revived. Cyprus has lifted all […]


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Amendments to the Cyprus – South Africa DTA

Cyprus and South Africa signed a Protocol modifying their current Double Taxation Agreement (DTA) on 1 April this year. The existing DTA was signed back in 1997 and was introduced in December 1998. The Protocol reevaluates three sections included in the 1997 DTA. These sections are the exchange of information, withholding taxes on dividends as […]


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Cyprus: Domicile under Cypriot Tax Law

Up until recently, non-Cyprus residents enjoyed most of the benefits offered by the Cyprus Tax Regime. Therefore, in order to benefit from all the advantages offered by the Tax Regime, an individual had to be considered as a non-Cyprus resident. The reason the Cyprus Tax Regime was constructed in this way is simple as initially […]


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Cyprus-Iran Double Taxation Agreement

After years of negotiations and discussions, the Islamic Republic of Iran and the Republic of Cyprus recently have agreed and signed a Double Tax Agreement outlining policies concerning income tax evasion and double taxation avoidance. The Deputy Economy Minister and Head of the Islamic Republic of Iran’s Tax Organisation and the Cyprus Minister of Finance […]


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Cyprus New Tax Incentives

In an effort to stimulate economic growth and attract investment from abroad, the Republic of Cyprus has made certain amendments on taxes which benefit foreign investors who conduct business activity via the island. The proposed tax reforms also offer a new boost to the island’s economy. The House of Representatives voted and passed the main […]


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