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As early as March 2014 the Cyprus Securities and Exchange Commission ("CySEC") alerted potential investors to the risks associated with investment in virtual currencies or contracts for difference linked to them.

As reported previously in Global Tax Weekly, in July 2015 the Cyprus Government introduced a notional interest deduction ("NID") on new equity capital, aimed at leveling the playing field between debt and equity finance.

In June 2021, following a recent implementation and enactment of the 5th AML Directive into national legislation, the Cyprus Securities and Exchange Commission has introduced, via the issuance of Directive 269/2021, ...

CySEC has published circular C417, which is addressed to Cyprus Investment Firms, and contains guidance on investment in crypto-assets.

A Russian company is considered an issuer when it issues EU financial instruments, regardless of the number of such instruments.

On the issue of attribution of knowledge of a person to a corporate entity, Cypriot Courts have in inter alia the cases of Police v Vasili Vasileiou Case no. 15408/07, 9/06/2008, The Republic v ...

In today's globalised economy, businesses often seek favourable environments to expand their operations and optimise their corporate structures. Cyprus, known for its strategic geographical location and business-friendly regulations...

On the 13th March 2023, the Cyprus Securities and Exchange Commission (hereby ‘'CySEC'') published its Policy Statement PS-01-2023 on the application of Regulation (EU) 2020/1503 on European Crowdfunding Service Providers

On 31st May 2024, the European Securities and Markets Authority (ESMA) published its draft technical standards addressing conflicts of interest for Crypto-Asset Service Providers (CASPs)...

It is not any longer necessary to novate a security registered with the Cyprus Registrar of Companies where security documents are amended to increase the amount secured.

Companies planning securities offerings must navigate ESMA's September package of prospectus reforms, which includes final guidance, proposed technical standards, and ongoing consultations at different implementation stages. The challenge lies in distinguishing which changes apply immediately versus those still under development, particularly regarding disclosure requirements, financial summaries, and base prospectus supplements. Understanding these distinctions is critical for issuers to maintain compliant

Please find below our observations/comments during the review of some of our clients Compliance Reviews taken place in 2022...

Pledges of shares are frequently encountered in Cyprus holding and finance structures.

A considerable part of Dmitry Rybolovlev's fortune in Cyprus, in the form of deposits at the BoC and an investment of 500 million euro in shares, has been lost.

Regular training programs for staff on compliance and regulatory changes are essential for maintaining an informed and compliant workforce.

The first step to be taken when registering a vessel under the Cyprus flag is to set up a Cyprus Shipping Company, which will acquire the vessel on its name.

On 7 May 2024, the Financial Action Task Force (FATF) issued an updated report on the effectiveness and technical compliance ratings of countries assessed against the 2012 FATF Recommendations...

Cyprus has reclaimed its status as a country with a developed and well-trusted economy, having overcome the challenges of recent years with a gross domestic product growth of 3.9% in 2018.