How to take advantage of the ‘Fast-track Business Activation Mechanism’ in Cyprus

The Cyprus scheme for ‘Fast-track Business Activation Mechanism’ (the “Scheme”) was adopted on 3 September 2020 by the Council of Ministers and aims to facilitate the establishment and re-domiciliation of businesses from third  (non-EU) countries to Cyprus. The scheme, which operates  under the Ministry of Energy, Commerce and Industry headed by Mrs Natasa Pilidou, was…

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Establishing Economic Substance in Cyprus

In our last article on Economic Substance, we discussed the role of substance in tax planning and how this has become increasingly significant in the global economy. With many companies establishing a presence in Cyprus to benefit from the island’s favourable double taxation treaties, it is of paramount importance to demonstrate that management and control…

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Creating a Strong AML Compliance Culture

In its efforts to remain in full compliance with the European framework for tackling money laundering and terrorist financing, the Republic of Cyprus is constantly implementing changes to its local laws, in order to ensure alignment with EU Directives and Regulations. One of the fundamental pillars of the Cypriot economy is the financial services and…

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Why choose Cyprus for Innovation & start- ups

The Future of Business: Creating a Start-up Ecosystem in Cyprus Cyprus’s strategic position, as well as its valuable historical and geopolitical background, have helped make the island an attractive international business hub. For decades, Cyprus has enticed foreign businesses and investors with incentives such as one of the lowest corporate tax rates in the E.U.,…

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The ever-growing need for Anti-Money Laundering Talent

“The kings of Wall Street used to be the traders and investment bankers who said yes to big deals and big trades, but today’s power brokers increasingly are the compliance officers who quite often say no to risky proposals.” NEW YORK, Oct. 14 (Thompson Reuters Accelus). Anti-Money Laundering (AML) compliance officers are a hot commodity…

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