It is with great delight that we announce the official opening of our new fully-fledged office in World Trade Center Limassol, situated on the coastline in the very heart of the city.
We would like to inform you regarding the BVI Annual Fees deadline for the year 2017, that the payment must be received at our office no later than 12.05.2017. Due date is 26.05.2017.
The BVI Business Companies Act (Amendment of Schedule 1) (No. 2) Order, 2016 and the BVI Business Companies Act (Amendment of Schedules) Order, 2017 have revised the fees that the BVI Registry charges.
The Annual Levy on Cyprus Companies of €350 is payable by 30th June of every calendar year. Penalties will be imposed for failure to pay the 2017 levy by 30th June.
Earlier this week, the Cyprus government has further relaxed the criteria for foreigners who wish to acquire the Cyprus citizenship.
We inform you that some changes have been made to both the BVI Anti-Money Laundering legislation and the BVI Business Companies Act, that will affect the corporate procedures in 2016, and we are now required to undertake on your portfolio to ensure we are compliant with these new requirements.
The BVI Business Companies (Amendment) Act, 2015 (the “Amending Act”), which amends the BVI Business Companies Act, 2004 (the “2004 Act”), is expected to come into force in the coming months.
On 30 October 2015, the Cyprus Tax Authorities issued a circular in relation to the introduction of a tax residency form (Form T.D.98) for the purpose of issuing a tax residency certificate to legal persons.
As a result of the 2012 amendments to the Mutual Legal Assistance (Tax Matters) Act, 2003 and the Partnership Act, 1996 (the “2012 Amendments”), all companies and limited partnerships registered in the BVI are now required to maintain “records and underlying documentation” and to keep such records and underlying documentation for a minimum of five (5) years.
Taxpayers must submit a temporary tax return (Form I.R.6 for legal persons and Form I.R.5 for self-employed individuals, attached for reference) before the 31st of July of each year based on the estimated current year’s taxable income and pay the equivalent temporary tax.
The Partnership and Business Names (Amendment) Law, Law 54(I) of 2011 introduces new provisions to the Partnership and Business Names Law, Cap. 116 to facilitate the reorganisation and merger of partnerships and extends the favourable tax treatment of qualifying corporate reorganisations to partnerships.
Igoumenitsas 12,
CONNECTEDSKY HOUSE, P.C. 2027,
Strovolos, Nicosia, Cyprus
Tel:
70003517 in Cyprus
+357 22258800 from abroad
Fax:
+357 22258801