The Legal 500

Legal Developments in Cyprus

• Brief Outline on Cyprus Taxation on Interest Dividends and Profits from the Sale of Titles

  A. General
  - Kinanis LLC

• Initial Coin Offering (ICO) through Cyprus The Tax & VAT aspect

  ICOs have recently exploded and become an increasingly popular method of fundraising for start - ups and other companies with the intention to fund innovative projects based on the Blockchain technology.
  - Kinanis LLC

• New Cyprus law on data system security

  New Cyprus law on data system security
  - Elias Neocleous & Co LLC

• New “federal” EU Tax rules on the table

  In 2011, in response to public concerns over large multinational companies exploiting differences in national tax rules, the European Commission published a proposal for a Common Consolidated Corporate Tax Base (CCCTB) to unify tax rules throughout the EU. Individual countries would still be free to set their own tax rates, but anomalies between countries in terms of deductibility of expenses and recognition of income would be eliminated. The initial proposal met with considerable political resistance, particularly from the United Kingdom, and was not pursued. In October 2016, perhaps in anticipation of less resistance once Brexit was completed, the Commission issued a revised proposal to replace the earlier one. It aims to introduce a set of common rules for determining the tax base of companies with operations in several EU Member States and tax them in the country where their revenues are generated, and remove the anomaly of large companies paying what the public perceives as disproportionately low amounts of tax in countries where they have significant activities.
  - Elias Neocleous & Co LLC

• Initial Coin Offering (ICO) Through Cyprus

  Initial Coin Offering, known as “ICO”, is a relatively new phenomenon in the crowdfunding industry being the main subject of discussion in the Blockchain and financial communities.
  - Kinanis LLC

• The new Prospectus Regulation EU

  On 30th June 2017, the European Parliament and the European Council published in the Official Journal of the European Union the Regulation (EU) 2017/1129 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “New Prospectus Regulation”).
  - Kinanis LLC

• Relocation and Retirement in Cyprus - The Tax Aspect

  Since 2004, Cyprus is a full Member State of the European Union. This fact, along with its good strategic location, highly skilled human capital, excellent infrastructure, reliable communications, relatively low cost of living, sound and stable legal system, warm climate and hospitality of its people, are some of the advantages which contribute to Cyprus’ continuous development as a competitive international financial, tourist, retirement and relocation centre.
  - Kinanis LLC

• The new EU regulation on general data protection 2016/679 (“GDPR”)

  A. INTRODUCTION
  - Kinanis LLC

• Notional Interest deduction 11/17

  Introduction
  - Kinanis LLC

• Cyprus: Changes To The Inheritance Process Under European Succession Regulation 650/2012

  The growing importance of cross border successions within the European Union and the difficulties and complications resulting from the diversity of succession and private international law rules relating to succession, prompted the European Commission to examine the possibility of introducing a Regulation that would facilitate and streamline cross border successions.
  - Soteris Pittas & Co L.L.C