201905.08
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Rankings Legal 500 for 2019

We take great honor on the fact that our reputation as a prominent legal firm is validated annually. In that, we are proud to announce that our firm Athos Demetriou Associates LLC, along with our Managing Partner, have been recognized for their leading role in the prominent Legal 500 editorial series. For yet another year…

201903.07
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New era for the offshore jurisdictions: Introduction of substance requirements

Preamble Several offshore jurisdictions like the British Virgin Islands, Bermuda, the Cayman Islands, Guernsey, Jersey, the Isle of Man, Seychelles and Mauritius have enacted new legislation introducing a number of requirements on adequate business substance for companies incorporated in these jurisdictions. In line with the requirement of the EU Code of Conduct Groups, these changes…

201903.06
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Cyprus Investment Program: Amendments

Main goal of the economic policy of the Republic of Cyprus is the further encouragement of foreign direct investment and to attract high net worth individuals that would be established and have operations in Cyprus. Main reasons that Cyprus is considered an attractive destination for investments is the qualified staff, the credible legislative framework and…

201903.06
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Cyprus Shell Companies

Introduction On 2 November 2018 the Central Bank of Cyprus issued a revised circular to money laundering compliance officers of all regulated credit, payment and e-money institutions on the issue of so-called shell companies. It replaces an earlier circular issued in June 2018 and aims to provide additional clarification to reinforce the effectiveness of anti-money…

201806.08
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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
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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
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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
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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
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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…