Three more treaties will be put into effect as of January 1, 2015

Cyprus has made three new tax treaty agreements, thus further expanding its tax treaty set of connections. The new tax treaties with Lithuania, Spain and Norway will be valid as of January 1, 2015. The new tax treaties aim to further promote Cyprus’ services sector that unfortunately has recently been through a worrisome period due […]


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Cyprus and the US Treasury signed a Model 1 IGA concerning the Foreign Account Tax

In the beginning of December 2014, Cyprus and the US Treasury signed a Model 1 IGA concerning the Foreign Account Tax Compliance Act (FACTA). FATCA FACTA is a US tax law included in the Hiring Incentives to Restore Employment (HIRE) ACT introduced in the first quarter of 2010, and was enforced to control and spot […]


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Cyprus’ Shipping Tax Regime

The Mediterranean island of Cyprus is one of the top shipping hubs in the world. Due to government policies, the island constantly attracts possible investors and investments. Below are outlined the reasons Cyprus appeals to shipping businesses and all the exemptions and regulations as stated in the Cyprus Shipping Tax regime. In the Past Since […]


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Cyprus Banks Surface form Stress Tests

According to the European Central Bank’s publication recently, the stress tests conducted on the banks of Cyprus have shown that three of the island’s banks have completed the test and have marked a surplus in capital. Only one completed the assessment with a manageable deficit. The main purpose of the stress tests, which examined 130 […]


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Cyprus Shipping Review 2014/15

The shipping industry in Cyprus has grown significantly since the launching of the shipping registry in 1963. Since then, a multiplicity of features have combined in making the island of Cyprus one of the most significant locations concerning a range of maritime-linked activities. Some of the key factors include the island’s contemporary financial and legal […]


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New Double Tax Agreement between Cyprus and Switzerland

On July 25, 2014, Switzerland and Cyprus consented and signed a new agreement concerning averting double taxation between the two nations. It is the first twofold agreement between the two nations and will aid in the advancement of financial relations between the countries. The agreement will come into power once it has been endorsed by […]


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Cyprus Holding Companies

Despite the difficulties Cyprus faced in 2013 with the economic recession and stabilisation program, Cyprus remains a dependable global business and financial hub, keeping on offering access to an ideal tax system, a widespread network of tax treaties and a transparent lawful framework. We might likewise want to highlight that the greater part of the […]


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Shipping Law 2014 (ICLG) – Contributions from Oxford Maritime Ltd

The International Comparative Legal Guide to: Shipping Law 2014 Download Publication: International Comparative Legal Guide_Shipping 2014 As a new dynamic provider of legal services, risk and threat assessments to the shipping industry Oxford Maritime Ltd has contributed the Cyprus Chapter of the international publication “International Comparative Legal Guide – Shipping 2014”. The contribution covers a vast range […]


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CySEC Tightens Reporting Regime in Compliance with European Standards

The Cyprus Securities and Exchange Commission (CySEC) has made an announcement that a new format for capital adequacy as well as exposures that affect CIFs (Cyprus Investment Firms ) submission procedures, according to an official CySEC statement. In real essence, the recent announcement can be best summarized as CySEC COREP’s   implementation or   capital adequacy consolidated […]


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Cyprus looking forward to closer business ties with UAE

Dubai: During his visit to the UAE recently, the president of  Republic of Cyprus Nicos Anastasiades ,  at the UAE – Cyprus Business Forum said that business relations between UAE and Cyprus are set  on solid foundations and championed for the need of boosting economic ties shared by the two countries. The event was hosted by the Dubai […]


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