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Significant Amendments to the BVI Business Companies Act
The British Virgin Islands’ (“BVI”) authorities have recently enacted a number of significant amendments to the BVI Business Companies Act, 2004. These amendments are being introduced in order to...
Beneficial Owner (BO) Register
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Register of Ultimate Beneficial Owners of Cyprus Companies and other Legal Entities (UBO Register)
On the 16th of December 2020 the Council of Ministers, in line with article 57(b) of the “Prevention and Suspension of Money Laundering and Terrorist Financing Laws of 2007 to 2019” has decided the...
Annual Returns – Recent Amendments to the Cyprus Companies Law Cap. 113
Following the recent amendments to the Cyprus Companies Law Cap. 113 (Law 149(I)/2018) (the “Law”), the Registrar of Companies and Official Receiver (the “Registrar”) introduced the following...
Update on Substance Legislation for the BVI
On 22 April 2019, the British Virgin Islands International Tax Authority (ITA) published a draft Economic Substance Code (the Code). The Code is supplementary and provides guidance on the...
New Substance Legislation for the British Virgin Islands
In response to the requirements of the EU Code of Conduct Group, the government of the British Virgin Islands (BVI) has brought into force The Economic Substance (Companies and Limited Partnerships)...
Cyprus and the UK double tax treaty
On 22 March 2018, Cyprus and the United Kingdom of Great Britain and Northern Ireland signed a new double tax treaty and accompanying Protocol (the new “DTT”). After certain legal proceedings in...
Announcement – Press Release December 2017
The Corporate Service Providers Cypcodirect Corporate Services Ltd (’Cypcodirect’) and Ioannou & Theodoulou Limited (‘ITH’) have decided to merge their operations, as regards corporate...
Issuance of Tax Residency Certificates within the same tax year
On March 17, 2017, the Income Tax Department of Cyprus has announced that for the purposes of providing a better service to Cyprus Tax residents and to enable them to benefit from the Double Tax...
Cyprus Tonnage Tax System
We wish to inform you that Circular No. 33 /2016 with subject " Cyprus Tonnage Tax System (Law 44(I)/2010): Flags which appear on the Grey List and Black List of the Paris MOU for the Fiscal Year...
BVI Companies – Filing of directors’ register with the BVI registry
Due to the recent amendments to the BVI’s Anti-Money Laundering (AML), it is now a requirement that for all BVI companies the Register of Directors be filed with the BVI registry. For new...
Substance – A changing business landscape
The international tax landscape is changing. It is becoming increasingly clear that it is not a matter of moving from one jurisdiction to another. The initiatives undertaken by the G20 and the OECD...