Insights
Lawyers, Just Different
The EU’s Recovery and Resilience Facility
With 582 votes in favour, the Members of the European Parliament have approved and adopted the rules governing Europe’s renowned Recovery and Resilience Facility (the “RRF”). The RRF forms part of the €750 billion Next Generation EU recovery plan and has been dubbed as a key tool in curbing the pandemic’s devastating consequences.
Ultimate Beneficial Owner (UBO) Registers Implementation in Cyprus
As part in a chain of reforms proposed by the European Commission, in 2015 the European Union (the “EU”) adopted a modernised regulatory framework encompassing the Fourth Anti-Money Laundering Directive 2015/849 (the “AMLD IV”). The AMLD IV is a milestone in the Commission’s Action Plan to remedy the undoubtable shortcomings of Europe’s anti-money laundering framework evident by several money laundering cases and terrorist attacks.
The Cyprus Non-Domiciliation Rules
In an effort to improve the competitiveness of Cyprus’s tax regime and attract foreign capital, in 2015 the Cypriot Government introduced the concept of “Non-Domiciled”. The concept was proposed through the amendment of the Special Contribution for the Defence of the Republic of Cyprus Law N.117(I) of 2002, as amended from time to time (the “SDC Law”).
An Aviation Finance & Leasing Jurisdiction
Whilst there are many jurisdictions that are considered to be the jurisdictions of choice in the area of aviation finance and leasing , Cyprus is a very real...
Cyprus as a Jurisdiction for Registration of Private Aircraft
The purpose of this memo is to set out the legal requirements for and the benefits to be obtained from, registering a private aircraft in Cyprus...
Cyprus as a Jurisdiction for the Registration of Yachts
The purpose of this memo is to briefly set out the legal requirements for and the benefits to be obtained from, registering a yacht in Cyprus. The Department of...
Cyprus Substance Requirements
The purpose of this memo is to consider and detail the requirements of substance in Cyprus. The requirement to show “substance” in Cyprus or indeed any EU...
Kazakhstan Double Tax Treaty
On 15th May Cyprus and Kazakhstan signed a treaty for the avoidance of double taxation (DTT) which was ratified by Cyprus on 24 May, 2019 . Once the DTT enters into force...
Cyprus Investment Programme established under section 111A (2) of the Civil Registry Laws of 2002-2019
The Cyprus Investment Programme (CIP), established under Section 111A (2) of the Civil Registry Laws of 2002 to 2019, was approved by the...