201806.08
0

Rankings Legal 500

The Legal 500 Europe, Middle East and Africa 2018 Edition continues to rank Athos Demetriou Associates LLC as a leading law firm in Cyprus in the legal areas of Banking and Finance, Commercial, Corporate and M&A. Our firm’s managing partner was recommended in The Legal 500 Europe, Middle East and Africa 2018 editorial and was listed…

201709.01
0

Obtain Cyprus Tax Residency by only staying 60 days in Cyprus

Cyprus “tax resident”  In accordance with section 2 of the Income Tax Law, a “resident of the Republic” is an individual who stays in the Republic for one or more periods exceeding in aggregate 183 days in the tax year. On 14 July 2017, an amendment to the Income Tax Law was unanimously voted by…

201705.17
0

Rankings Legal 500

Legal 500 continues to rank Athos Demetriou Associates LLC as a leading law firm in Cyprus in the legal areas of Banking and Finance, Commercial, Corporate and M&A. Our firm’s managing partner was recommended in The Legal 500 Europe, Middle East & Africa 2017 editorial and was listed as a “Recommended Lawyer” for Banking and Finance,…

201702.09
0

The Law Regulating Overdue Taxes

On the 27th January 2017, the Cyprus Parliament voted the Law Regulating Overdue Taxes, giving people the opportunity to repay overdue taxes in monthly instalments. After several discussions, postponements and amendments to the proposed tax bill, this well-balanced outcome is expected to generate substantial and immediate state revenues. The good news for the tax payers…

201612.15
0

Circular no. 168 with subject “Updated version of ESMA’s Q&A document relating to the provision of CFDs and other speculative products to retail investors under MIFID.”

On 30th November 2016 the Cyprus Securities and Exchange Commission (“CySEC”) issued the Circular no. C168 with subject “Updated version of ESMA’s Q&A document relating to the provision of CFDs and other speculative products to retail investors under MIFID”. With this Circular, CySEC has interpreted ESMA’s Q&A, published in early October 2016, in relation to…

201509.01
0

Implementation in Cyprus of the Intergovernmental Agreement regarding FATCA

On August 28, 2015 the Cyprus Finance Minister published in the official gazette of the Republic of Cyprus the decree of 2015 in accordance with the Assessment and Collection of Taxes Law (Exchange of Information within the framework of the Agreement for the Tax Compliance of Accounts which exist abroad) (Decree 281/2015) for the purposes…

201508.07
0

Conclusion of the Double Tax Treaty between Cyprus and Iran

On August 4, 2015 the Republic of Cyprus and the Islamic Republic of Iran proceeded with the signing of a Double Tax Treaty on Income and Capital. The conclusion of this treaty further expands the existing wide Cyprus tax treaty network. The Cyprus Ministry of Finance in its press release on the conclusion of the…

201507.31
0

Cyprus Tax Amendments

On July 16, 2015 the Cyprus House of Representatives passed a number of draft bills into laws, introducing various significant amendments to the Cyprus tax legislation, aiming to modernize, simplify and improve the Cyprus tax system and attract foreign investments by enhancing the competitiveness of Cyprus. The main changes are outlined below: 1.   Income Tax…

201506.09
0

Annual Levy on Cyprus registered companies

All clients and associates having Cyprus registered companies are kindly reminded of the deadline of 30th June for payment of the Annual Levy of €350 per annum. For companies belonging to the same group, the annual levy obligation is capped to €20,000 distributable among the relevant companies in equal shares. Penalties apply in cases of…

201503.09
1

Conclusion of the Double Tax Treaty between Cyprus and Bahrain

On March 9, 2015 the Republic of Cyprus and the Kingdom of Bahrain proceeded with the signing of a Double Tax Treaty on Income and Capital. The conclusion of this treaty further expands the existing wide Cyprus tax treaty network. The Cyprus Ministry of Finance in its press release on the conclusion of the Treaty,…