Cyprus Focuses on Substance

Cyprus Focuses on Substance

Recent developments highlight the importance of substance for companies in Cyprus who wish to operate and benefit from the advantageous Cypriot tax rates. A lack of substance can mean that the benefits of having a presence in Cyprus disappear – and also that the...
2018 Financial Secrecy Index published

2018 Financial Secrecy Index published

This week the Tax Justice Network published its biannual Financial Secrecy Index, which relates tax-related secrecy to market significance by country. In other words, this ranking shows which countries hinder the total transparency of private (tax) data the most. The...
New Rules for Back-to-Back Loans.

New Rules for Back-to-Back Loans.

On June 30, 2017 the Cyprus’ Tax Department has issued a circular updating the rules for intra-group back-to-back financing arrangements. Effective since July 1, 2017, the circular states that all these arrangements now must meet the arm’s-length principle. There are...
Emigrating to paradise.

Emigrating to paradise.

In the summer of 2015 the Cypriot Parliament passed a law which makes Cyprus much more attractive as a country of immigration for wealthy foreigners. The Act introduces, alongside the concept of “Residence”, the concept of “Domicile”. This distinction is not known in...