As of July 1st 2021, the previous IP Box Regime is abolished and a new regime is now in force. 

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The Directive on the Prevention and suppression of money laundering and terrorist financing provides information and instructions regarding the entry of Explicit Trusts in the Register of the Real Beneficiaries of CySEC. The Directive and Regulations are applicable as from the date of publication in the Official Government Gazette, being the 18th June 2021.

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On Friday, 25th of June 2021, Cyprus Securities and Exchange Commission has published the new Directive for the prevention and suppression of money laundering and terrorist financing and the Register of Crypto Asset Service Providers.

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On 1 June 2021 the Republic of Cyprus and the Netherlands have signed a Double Tax Treaty for the first time.

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Background 

Over the past few years, the European Parliament has succeeded to introduce significant changes and upgrades in the Forth AML Directive (hereinafter referred to as the “Directive”) which, under the decision of the Council of Ministers has now been transported into a national law.

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Background 

On 30 April 2019, the Cabinet of Ministers of the United Arab Emirates issued a Cabinet Resolution regarding Economic Substance Regulations (ESR). On 10 August 2020, the new Economic Substance Regulations were introduced.  

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Cyprus Tax Residency

In light of the COVID-19 pandemic, the Cyprus Tax Department issued a circular regarding the provisions on the Tax Residency and Permanent Establishment in accordance to the Income Tax Law (Section 2).

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On the 16th of October 2020 the Government of the Republic of Cyprus has announced that the current Cyprus Investment Program shall cease to exist as of the 1st of November 2020. 

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What is a Trademark? 

Trademarks are the most essential way to label a company and to distinguish goods and services from others. It is a word, phrase, symbol or any sign used by the manufacturer to identify the company and the product. More commonly known as the ‘name of the business or product’ it is the essential way to differ your company and services from others.

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Amendment of the Agreement for the Avoidance of Double Taxation between the Republic of Cyprus and the Russian Federation.

The Ministry of Finance is expressing its satisfaction for the conclusion today, 10th August 2020, of the extensive negotiations on the Agreement for the avoidance of Double Taxation between the Republic of Cyprus and the Russian Federation. 

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May 27, 2020

By Nadzeya Tsimoshyna

 

Due to ongoing amendments in the international legal framework and tightening regulations worldwide, there is a progressive demand for the companies to strictly adhere to all legislative requirements and follow all corporate governance procedures in a proper manner.

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THE LEGAL 500 WEBINAR

The Legal 500 and C.Samir & Co. LLC will be hosting a webinar to explore the impact of Covid-19 on investments in Cyprus, and the opportunities it is generating for potential investors. The session will explore the latest legal and economic developments and address questions relevant to a range of private and semi-governmental institutions.

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April 27, 2020

By Athina Katiri, LLB, MSc Business Management 

 

Over the past few months, we have witnessed an unprecedented sequence of unfortunate events which not only affected our way of living and the healthcare system but also threaten to unbalance businesses and the economy on a global basis. 

Global markets have become increasingly complex, and it is likely that companies will be faced with a dreadful financial turmoil which will potentially and inevitably adversely affect their business value. We aim to provide a perspective on the evolving situation, the possible implications and the opportunities that Senior Executives can take advantage of.

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The International Tax Authority has issued the final Rules on Economic Substance in British Virgin Islands (BVI) setting out the implementation of the Economic Substance (Companies and Limited Partnerships) Act, 2018 (the "Economic Substance Act"). The Rules were released on 9th October 2019.

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Dear Clients,

We wish to remind you that all Cyprus Registered Companies should pay the amount of €350 as from the year of its registration and onwards.

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A series of changes were approved by the Cabinet of Ministers regarding the Cyprus Investment Program. The Ministers have agreed to implement stricter criteria on the Program in order to achieve even more transparency. These changes have been approved and will come into force in May 2019.

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It is with utmost pride and pleasure that we announce the latest achievement of our Founder & CEO, Charalambos Samir, who has recently been awarded the Professional Postgraduate Diploma in Private Wealth Advising (PPgD) by the Society of Trust and Estate Practitioners (STEP). 

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On January 1, 2019, the Economic Substance (Companies and Limited Partnerships) Act, 2018 came into force and applies to all “resident” BVI companies and limited partnerships. Companies and limited partnerships that are within the scope of the legislation are required to comply with the economic substance requirements under the Act from 30th June 2019.

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The International Business Companies Act 2016 was amended by the International Business Companies (Amendment) Act 2018 with effective date 1st of January 2019 (hereinafter referred to as the “Amendments”).

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It was officially announced on the 8th January 2019 by the Cyprus Registrar of Companies and Official Receiver, upon the opinion of the Attorney General, that the following Charges will no longer be eligible for registration:

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ConnectedSky has received approval from the Republic of Cyprus with regard to proceeding with all necessary procedures and applications for the Cyprus Investment Program.

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Contact us

Igoumenitsas 12,
CONNECTEDSKY HOUSE, P.C. 2027,
Strovolos, Nicosia, Cyprus

Tel:
70003517 in Cyprus
+357 22258800 from abroad

Fax:
+357 22258801

Email: info@connectedsky.com