Insights
Insightful Perspectives with Meaningful Impact
Massive Chinese investment in Larnaca
HERMES Airports Ltd, the consortium in charge of operating and managing Larnaca International Airport, and Far Eastern Phoenix, a chinese controlled entity, have signed an agreement providing for a massive investment involving the construction - Read More...
Cyprus introduces unique new framework on Trusts
Through new legislation that has been enacted by the Cyprus Parliament, the Cyprus International Trust Law (CITL) has been modernised in many aspects, becoming a very attractive instrument for international investment and asset protection - Read More...
Cyprus implements modern legal framework on public tender review
In the context of the government’s overall policy to promote and assure transparency and efficiency in the public procurement process, the Tenders Review Authority (TRA) was initially established under the Law 101(I)/2003, and commenced - Read More...
Ratification of the Double Tax Treaty Protocol between the Russian Federation and Cyprus
The Russian State Duma has recently ratified the Protocol to the Double Tax Treaty between Cyprus and Russia, which shall now come into effect as of 1 January 2013. The ratification of the Protocol - Read More...
Cyprus introduces tax free period in regard to property transfer fees
Pursuant to an amendment introduced on the 3rd of November 2011 by the Cyprus Parliament, Cyprus has now abolished the payment of transfer in regard to real property transactions. This measure, aiming to stimulate - Read More...
Cypus new legislation for incentives on prompt settlement of outstanding tax liabilities
On 24 November 2011, the Cyprus Parliament voted on a new law which provides for incentives on prompt settlement of outstanding tax liabilities. The incentives are given in the form of a waiver of - Read More...
EU proposal for a European Bank Account Preservation Order
The European Commission has recently proposed to introduce an EU-wide freezing order known as a European Account Preservation Order (EAPO) to ease the recovery of cross-border debts for both citizens and businesses. The Regulation would - Read More...
High net worth individuals eligible for Cyprus citizenship
The Cyprus Government continues to consider high net worth investors making substantial investments in Cyprus under special circumstances for granting passport or citizenship. In this respect, the Ministry of Interior has recently approved new criteria - Read More...
Fast track residence permits for purchasers of immovable property in Cyprus
The Government of Cyprus has introduced a new policy which provides favourable treatment on applications of third country nationals who purchase private residence in Cyprus, the value of which is equal to or above the - Read More...
Family Courts are given powers to grant remedies against non spouses
According to recent decision of the Supreme Court of Cyprus, Family Courts will now have jurisdiction to deal with property disputes, between couples, which concern any contribution of the parties to any property, even - Read More...
Agreement for the avoidance of double taxation between Cyprus and Qatar
Cyprus and Qatar have completed the required procedures for the entry into force of the agreement for the avoidance of double taxation between Cyprus and Qatar, which was signed on the 11th of November - Read More...
OECD Model Tax Convention: a discussion draft on the meaning of “beneficial owner” is released
The OECD Committee on Fiscal Affairs (CFA) invites public comments on draft changes to the Commentary on Articles 10, 11 and 12 (http://www.oecd.org/dataoecd/49/35/47643872.pdf) of the OECD Model Tax Convention concerning the meaning of the - Read More...