The need for economic substance of Cyprus companies
In the evolving global business landscape, the concept of economic substance has become paramount, especially for jurisdictions like Cyprus that position themselves as attractive hubs for international business. The necessity for economic substance in Cyprus companies arises from a confluence of international regulatory demands, and the drive for maintaining Cyprus tax advantages. Cyprus, as a […]
Annulment Of The Annual Government Fee (Levy) 2024 And Onwards
Dear Associates, The Department of the Registrar of Companies and Intellectual Property of the Republic of Cyprus, announces that in accordance with the Companies (Amendment) Law 2024, N.25(I)/2024, the annual government fee (Levy) of companies, is annulled from the year 2024 and onwards . However, please note that companies that have not paid the annual […]
Announcement for new extension by the Liquidator of FBME Bank LTD
Announcement for the extension of the deadline for the submission of proof of debt claims by the depositors and creditors of FBME Bank Ltd in Cyprus (the “Branch”) with registration no. AE1830 – in liquidation. 18 th December 2023 29 th of June 2024. Announcement for the submission of proof of debt claims by the […]
New framework for Cyprus citizenship for highly skilled professionals
“Cyprus aims attract qualified specialists in specific fields. Investing in research and innovation means investing in our country’s future, and this will have an immense economic benefit”. The foundations for a modern legislative framework, so that Cyprus remains a competitive country for the purposes of residence and work of specialized professionals in the field of […]
Agreement between Cyprus Government and Chevron on “Aphrodite gas field” in the Cyprus Exclusive Economic Zone
The Republic of Cyprus and the American giant have reached an agreement on the development plan for “Aphrodite”, ending a period of consultations amid disagreements that has lasted for months. The Cypriot government and U.S. energy company Chevron have reached an agreement on how to develop the Aphrodite field, which is the first to be […]
Announcement by the liquidator for the submission of claims of depositors for return of funds from FBME Bank in Cyprus
1. Mr. Petros Ioannides, who has been appointed as liquidator (the “Liquidator”) of the branch of FBME Bank Ltd in Cyprus (the “Branch”) pursuant to the order 123/2019 of the Nicosia District Court dated 29th of June 2023 (the “Court Order”), announced the commencement of the submission of claims for the verification process. 2. Pursuant […]
Cyprus joining the Schengen Area
Starting, July 25, Cyprus is joining the Schengen Information System (SIS) that has been built to ensure safe passage as well as freedom of movement of those who have the right to move freely within the EU’s Schengen Area. As a result, the state’s national security will be upgraded, including dealing with illegal immigration, crime […]
FBME Bank Cyprus Liquidation Submission Of Claim For Receipt Of Blocked Deposits
FBME Bank Cyprus Liquidation Submission Of Claim For Receipt Of Blocked Deposits 123/2019 liquidation of the branch of FBME Bank Ltd in Cyprus Mr Petros Ioannidis as an independent liquidator of the branch of FBME Bank Ltd in Cyprus Our services:
Energy Minister George Papanastasiou on Cyprus’ strategy for natural gas and deposits in its EEZ
Energy Minister George Papanastasiou on Cyprus’ strategy for natural gas and deposits in its EEZ Energy “to see if this (strategy) matches their strategy.” “We selected specific companies and primarily companies located in Cyprus’ EEZ and Israel’s EEZ and we had come up with companies with know-how to help us with our strategy and others […]
ATAD 3: New EU Directive to prevent misuse of shell entities
On 22 December 2021, the European Commission published a proposal for a Directive (ATAD_3) to target the misuse of shell companies for tax purposes. EU Member States need to transpose the Directive into their national legislations by 30 th June 2023, with its provisions coming into effect on 1 st January 2024. The Directive targets […]