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ARTICLE · 15 JULY 1999

The International Business Centre

CyprusWealth Management

A. New Cyprus – Russian treaty.

B. Cyprus – India Treaty.

C. American offshore achievement award.

D. First Cyprus award for offshore business.

E. First prize winners for quality in services.

F. Offshore industry – ISO 9002.

G. Cyprus – 6th in Shipping.

H. Trusts used in asset protection and tax planning.

I. Professional trustee companies.

J. Financial services companies.

K. Cyprus – A center for registration of trusts.

L. Offshore collective investments scheme (funds).

A. HIGHLIGHT OF THE NEW DOUBLE TAX TREATY WITH RUSSIA

The old agreement between Cyprus and Russia was signed on 29th October 1982 and became effective as from 26 August 1983. When the former Soviet Union was broken up the treaty continued to apply to Russia and the CIS countries. Over the years several states from the former Soviet Union negotiated a new treaty with Cyprus to replace the old one. Russia is one of these states. The new treaty between Cyprus and Russia was signed on the 5th December 1998.

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