Cyprus Introduces Transfer Pricing Rules and Documentation Requirements
On 30 June 2022, the Cyprus Parliament enacted amendments to the Income Tax Law and the Assessment and Collection of Taxes Law in relation to transfer pricing regulations in accordance with recommendations of the Organisation for Economic Co-operation and Development on Transfer Pricing Guidelines.
Permanent Residency in Cyprus
Cyprus is a small EU member state country but the third largest Island in the Mediterranean Sea with a population almost one million. Whereas Greek is the official language, English is widely spoken and the language in which business is generally conducted.
New 50% and 20% Income Tax Exemption on Employment Income to Attract Foreign Investors and Employees in Cyprus
On 26 July 2022, the new amended articles 8(21) and 8(23) of the Income Tax Law were published in the Gazette aiming to attract foreign investors and high-profile foreign employees.
THE CYPRUS REGULATORY SANDBOX
CySEC’s call for views The Cyprus Securities and Exchange Commission has launched a call for views on establishing a Regulatory Sandbox[1]. The Call and accompanying Press Release were circulated on 16th March 2022 on CySEC’s Website (the “Call”) and invites stakeholders across the financial services industry to provide their own feedback on establishing a Regulatory …
Important Tax Amendments – December 2021
Cyprus companies corporate tax residency On 9 December 2021, the Cyprus Parliament approved the expansion of the definition of corporate tax residency for Cyprus companies to additionally include the incorporation test.
Global Knafaim advised by Stelios Americanos & Co LLC on acquisition of 49.9% of TUS Airways
Stelios Americanos & Co LLC advised the Israeli group Global Knafaim in a $5 million transaction pursuant to which the later acquired a 49,9% in the share capital of TUS AIRWAYS LTD, a Cypriot airline headquartered in Larnaca. Existing shareholder, Kenneth Woolley also invested an additional $4 million increasing the amount of the total transaction …
Cyprus New Business Attraction Strategy, for High Technology, Shipping, Innovation and R & D
The Government presented the new strategy for attracting skilled workforce and companies in Cyprus on Friday 15 October 2021. This new strategy is mainly focused on high technology, shipping, innovation, and research and development. The new strategy includes a series of incentives concerning residency, taxation, employment and simplification and digitization of the current procedures. The …
An Overview: Blockchain and Cryptocurrencies – Business Trends & Regulatory Developments
Our Partner Dr. Charis Savvides delivered and intense seminar at Global Training (Cyprus), on Tuesday, 07 September 2021, at 09:00am. The seminar presented the current and under development regulatory framework on digital assets, addressing the key legislations and regulations which affect or be affected by the disruptive nature of crypto-transactions. You can view the presentation …
Start-up Companies in Cyprus
Chloe Americanos and Arianna Mouskou, of Stelios Americanos & Co LLC delivered a Webinar regarding Start-up companies, their formation, development, growth and the challenges that aspiring entrepreneurs are facing during their entrance to the start-up world.
Coinfirm & Stelios Americanos & Co LLC – RegTech Alliance
Coinfirm, the industry-leading RegTech provider and Stelios Americanos & Co. LLC, a highly innovative Cypriot law firm, today announce their joint cooperation.