Cyprus: An International Business Centre
Cyprus has gained a widespread reputation as an international business centre. The combination of advanced technologies and telecommunications, a beneficial tax regime and multinational citizens, along with the excellent geographical location and fantastic weather, make it an ideal place to headquarter your business.
Despite the country’s inviting attitude towards foreign companies and...
Liquidation Process in Cyprus
Liquidation or dissolution is a term which is used when a company decides to dissolve and materialize all its assets. This usually occurs when the company is deemed insolvent, i.e. cannot pay its debts when they are due. As a result, it collects and materialises its assets to settle its obligations and eventually comes to an end.
The liquidation (dissolution) or wound-up method can be...
EMI – Electronic Money Institution
Setting up an EMI – Electronic Money Institution
EMI or Electronic Money Institutions (EMIs) are the digital alternative of a bank where the client funds are stored in an ‘electronic wallet’. The funds are considered electronic money stored on a technical device which is widely used for making payments online.
The EMIs operate through an online platform while having the licence...
Cyprus Corporate Environment – Advantages
Over the years, Cyprus has made significant developments regarding its economy, the business opportunities it offers and the quality of life. Many organizations and individual business people are increasingly urged to transfer their business activities on the island due to the numerous benefits emerging from the jurisdiction and the operation of the corporate industry. ...
Curaçao and Gaming
Curaçao is an island country in the southern Caribbean Sea. It is a part of the Dutch Caribbean region, which are also called ‘Lesser Antilles’ in the Caribbean. The island is about 444 square kilometers, situated north of the coast of Venezuela. It is currently a constituent country within the Kingdom of Netherlands. Besides its beautiful scenery, Curaçao has one of the oldest and most...
Cyprus Company Formation
The Republic of Cyprus is a paradise for entrepreneurs, business owners and corporate activities, who need to do a company formation mainly because of its vibrant interrelation worldwide trade and the beneficial tax rates it offers. The main legislative body governing the rules and policies of corporations in Cyprus is the Companies Law, Cap.113, which adopted almost identical provisions with...
REGISTER A SHIPPING COMPANY IN CYPRUS
In the article “Registration of Ships in Cyprus” Michael Chambers presented the essential information about eligibility criteria and ship registration procedures. Cypriot and European citizens may proceed with the necessary procedures and register their vessel on the Registrar of Ships. However, non-European citizens who wish to register a ship under the Cyprus flag they are obliged to...
Online gambling jurisdictions: Malta, UK, Curaçao, Antigua and Barbuda, Isle of Man
Despite the global perspective of internet, online gambling regulations are not universal. That is to say, each region has its own jurisdictions that cover the relevant legal issues, such as licensing. For instance, the legislation in some areas permits them to grant licenses and regulate companies they run online gambling sites or supply industry services, i.e. gaming software. The...
Company Set Up in Offshore Jurisdictions: BVI, Belize, Seychelles and Panama.
Investors and companies around the world have been benefiting from advantageous corporate structures and favorable tax regimes for years in order to increase profitability. With the economic turmoil pushing countries to impose tax reforms, numerous companies are looking to benefit from the best possible tax planning solutions through company set up in offshore jurisdictions. In general, an...
Rejection of haircut appeals by the Supreme Court of Cyprus
The Supreme Court on Friday, 7 of March, delivered its long-awaited decision with regard to the appeals lodged by Laiki’s and BoC’s depositors who lost part of their money in the €10 billion bail-in plan for Cyprus. More than 3.000 appeals of uninsured depositors were filed before the Supreme Court requesting the decision to be revoked.
The applicants appealed the decree R.A.D. 104/2013...