Reduction of non-performing loans in the Cyprus banking sector
The Central Bank of Cyprus (CBC) has released its latest analysis of data on non-performing loans in the Cyprus banking sector, covering the period to 31 March 2017 and showing the aggregate non-performing facilities and related indicators for the domestic operations of credit institutions operating in Cyprus. In the first quarter of 2017 non-performing facilities […]
USD 100 million super senior facility for Avanti Communications Group plc
Elias Neocleous & Co LLC acted as Cyprus counsel to Avanti Communications Group plc (LON:AVN) along with Milbank, Tweed, Hadley & McCloy LLP in respect of the USD 100 million super senior facility agreement dated 15 June 2017 between Avanti and its subsidiaries on the one hand and HPS Investment Partners on the other. In […]
Cyprus formally signs multilateral instrument on base erosion and profit shifting
[gdlr_row] [gdlr_column size=”1/4″] [/gdlr_column] [gdlr_column size=”3/4″] July 7, 2017 Author: Philippos Aristotelous Publisher: International Law Office Practice area:TAX LAW, TAX PLANNING AND ADVANCED BUSINESS STRUCTURING [/gdlr_column] [/gdlr_row] [gdlr_post_slider category=”publications” num_fetch=”3″ num_excerpt=”25″ caption_position=”bottom” thumbnail_size=”medium” orderby=”date” order=”asc” ]
Cyprus Investment Firms – commercial collaboration with third parties
The Cyprus Securities and Exchange Commission (‘CySEC’) has recently issued a circular (C217 dated 26 June 2017) to Cyprus Investment Firms (‘CIFs’) it regulates regarding commercial collaboration with third parties, for example to promote the CIF online, to use the third party’s website as a portal for displaying promotional and advertising content or to host […]
Acquisition finance for purchase of the Cypria Maris, Cypria Bay and Laura hotels in Paphos
In March 2017, together with leading Israeli firm Shibolet & Co we acted for Phoenix Insurance Company Limited as security agent for the lenders to Fattal Hotels in a joint transaction with a subsidiary of Issta Lines, Israel’s largest tourist company, for the acquisition of the Cypria Maris, Cypria Bay and Laura hotels in Paphos […]
LEGALITY OF THE COMPOSITION OF THE CYPRUS COMMISSION FOR THE PROTECTION OF COMPETITION DUE TO THE APPOINTMENT AND PARTICIPATION OF A MEMBER WHO ALSO IS A MEMBER OF THE COMMITTEE OF A POLITICAL PARTY
[gdlr_row] [gdlr_column size=”1/4″] [/gdlr_column] [gdlr_column size=”3/4″] July 4, 2017 Author: RAMONA LIVERA, EVYENIA KELLY EPAMINONDOU Publisher: Thomson Reuters (Professional) UK Limited Practice area: EUROPEAN UNION AND COMPETITION LAW [/gdlr_column] [/gdlr_row] [gdlr_post_slider category=”publications” num_fetch=”3″ num_excerpt=”25″ caption_position=”bottom” thumbnail_size=”medium” orderby=”date” order=”asc” ]
VAT REFUNDS
One of the current priorities for the Cyprus Tax Department is to modernise the administration of the tax system, moving away from a paper-based system to a more streamlined electronic system for submitting returns, and for making payments and refunds, both for direct taxes such as income tax and Special Contribution for Defence, and for […]
New procedures for issuing Minimum Safe Manning Documents for Cyprus ships
The Cyprus Department of Merchant Shipping has announced a change in procedures for issuing Minimum Safe Manning Documents. The new procedures apply from 1 July 2017 and all MSMDs issued before then will cease to be valid by the end of 2017. With effect from 1 July 2017 applications for MSMDs should be submitted electronically […]
Nil returns for FATCA and CRS
The Cyprus Tax Department has issued an announcement to financial institutions that registration to the “Ariadne” Internet portal for submission of FATCA or CRS returns is not obligatory if they have nothing to report, unless they have already registered for the e-submission service. Financial institutions which already registered but have no reportable information must either […]
Supreme Court examines role of experts in criminal procedures
[gdlr_row] [gdlr_column size=”1/4″] [/gdlr_column] [gdlr_column size=”3/4″] July 4, 2017 Author: MARINA CHRYSANTHOU Publisher: International Law Office Practice area: LITIGATION AND DISPUTE RESOLUTION [/gdlr_column] [/gdlr_row] [gdlr_post_slider category=”publications” num_fetch=”3″ num_excerpt=”25″ caption_position=”bottom” thumbnail_size=”medium” orderby=”date” order=”asc” ]
