Changes to the definition of “significant” Cyprus Investment Firms
Certain provisions of the Investment Services and Activities and Regulated Markets Law of 2007 (“the Investment Services Law”) and Directive DI144-2014-14 for the Prudential Supervision of Investment Firms issued by the Cyprus Securities and Exchange Commission (“CySEC”) apply only to Cyprus Investment Firms which are categorized as “significant” on grounds of size, internal organization and […]
New tax residence provisions for individuals
Law 119(I) of 2017, which amends the provisions of the Income Tax Law regarding residence of individuals, has now been published in the official gazette. Prior to the enactment of the new law, individuals are resident in Cyprus for the purposes of income tax if they are physically present for at least 183 days in […]
Ratification of the Council of Europe Convention on preventing and combating violence against women and domestic violence
Cyprus signed the Council of Europe Convention on preventing and combating violence against women and domestic violence on 16 June 2015. The legislative process of incorporating the convention into domestic law has now been completed with the publication in the official gazette on 28 July 2017 of Law 14(III) of 2017, which ratifies the convention.
Reporting of advance cross border rulings
In order to ensure compliance with Directive (EU) 2015/2376 of 8 December 2015 amending Directive 2011/16 / EU on compulsory automatic exchange of information in the field of taxation and in particular in advance cross border rulings, the Cyprus Tax Department has begun an initiative to gather information regarding cross-border decisions issued, modified or renewed […]
CySEC guidance on interim management and financial reports
The Cyprus Securities and Exchange Commission (CySEC) has issued a circular reminding issuers with securities admitted to trading on a regulated market of the requirements of the Transparency Requirements (Transferable Securities) Negotiation in a Regulated Market) Law of 2007 regarding the content of interim management reports. CySEC’s examination of interim management reports for the first […]
The implementation of MIFID II in Cyprus
On 7 July 2017 Law 87(I)/2017 was published in the Official Gazette of Cyprus, transposing the revised European Union Markets in Financial Instruments Directive (MiFID II) into Cyprus law. The new law, which will apply in Cyprus from 3 January 2018, will introduce significant changes to the Investment Services and Activities and Regulated Markets Law […]
Settlement of tax debts by instalments to begin from 1 August 2017
The Cyprus Tax Department has announced that the Internet portal for applications for settlement of arrears of taxes under the Process of Adjustment of Tax Arrears Law of 2017 will be available from 1 August 2017. Applications for settlement of debts by instalments will be accepted from that date. The Tax Department had previously announced […]
Philippos Aristotelous elected to the committee of STEP Cyprus
At the recent annual general meeting of STEP Cyprus, the local branch of the Society of Trust and Estate Practitioners, Philippos Aristotelous, partner in the firm’s private client and tax departments, was elected as a member on the board of directors of STEP Cyprus. Since its foundation in the UK in 1991 STEP has grown […]
Marking our trainee lawyers’ success in the Cyprus Bar Association professional examinations
The will to win, the desire to succeed, the urge to reach your full potential… these are the keys that will unlock the door to personal excellence. Confucius As reported a few days ago, continuing a tradition set by our legacy firm, all the candidates from our firm succeeded in passing the latest professional examinations […]
Cyprus Securities and Exchange Commission Memorandum of Understanding with the Financial Services Regulatory Authority of Abu Dhabi Global Market
The Cyprus Securities and Exchange Commission has announced the signing of a Memorandum of Understanding with the Financial Services Regulatory Authority of Abu Dhabi Global Market, the international financial centre in Abu Dhabi. The signing of the MoU is intended to uphold the integrity of the markets, safeguard the interests of investors and foster robust […]
