Registration of Crypto Assets service providers In Cyprus

February 26, 2022

A very significant step has been taken by the Cyprus Securities and Exchange Commission (“CySEC”) to regulate certain activities concerning crypto assets as a result of the transposition of...


EU shell company Directive will introduce ‘minimum substance’ test

February 19, 2022

In December 2021, the European Commission (EC) published its draft Council Directive laying down rules to prevent the misuse of shell entities for tax purposes and amending...


Amendment To The Definition Of Corporate Tax Residency

February 3, 2022

On 09.12.2021, the Cyprus House of Representatives passed important amendment to the Income Tax Law and Special Contribution for the Defence Law (the “Amendment“). The Amendment was published...


Cyprus: adoption of defensive tax measures against EU-blacklisted jurisdictions

January 21, 2022

On 21 December 2021, amendments to the Income Tax Law and Special Defence Contribution Law were published in the Cyprus Government Gazette (“Law amendments”) for...


Implementation of the Register of Ultimate Beneficial Owners of Cyprus Companies

January 15, 2022

The maintenance of a central register of Ultimate Beneficial Owners of companies and other legal entities (“UBOs”) in Cyprus has been implemented as part of the process of full transposition...


Action Plan presented by the Cyprus Government for attracting foreign companies to Cyprus

December 18, 2021

In October 2021, the Cyprus government announced its new action plan for attracting foreign businesses to establish or expand their activities in Cyprus. The announcement came one...