Elias Neocleous & Co LLC on Dataguidance
DataGuidance is the essential privacy intelligence platform, created for and used by privacy professionals worldwide, supported by more than 250 leading privacy experts and in-house Privacy Analysts worldwide. Dataguidance users have access to comprehensive, consistent and up-to-date information on core topics relating to data protection and privacy law in a number of jurisdictions. Elias Neocleous […]
CySEC circular regarding anti-money laundering measures
The Cyprus Securities and Exchange Commission has issued a circular (C196 dated 31 March 2017) to entities it regulates reminding them of their obligations under article 68C of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007, and emphasising that ignorance of the law is no defence. Article 68C of the […]
Elias Neocleous spoke at the seventh Academy & Finance “Russian Private Clients” conference
Elias Neocleous, managing partner of our firm, was among the distinguished experts presenting the latest developments in tax, succession planning and asset protection strategies at the seventh annual conference for Russian private clients and their advisers organised by Academy & Finance, a leading Swiss conference organiser, which took place on 29 and 30 March 2017 […]
Reduced withholding tax under the Cyprus-Russia double tax agreement
Since Cyprus-resident companies are used to hold shares in many Russia-resident companies, claims for the reduced rate of withholding tax on dividends have been the most common area for dispute under the Cyprus-Russia double tax agreement. The agreement provides that a reduced rate of withholding tax applies to dividends paid by a company resident in […]
New schedule of fees payable under the Anti-Piracy Law
The Cyprus Department of Merchant Shipping has issued an updated schedule of fees payable under article 86 of the Protection of Cyprus Ships Against Acts of Piracy and other Unlawful Acts Law of 2012 (Law 77(I)/2012). The Protection of Cyprus Ships Against Acts of Piracy (Determination of Fees) Notification of 2017, P.I. 87/2017 was published […]
Amendment of the Aliens and Immigration Law to transpose the EU intra-corporate transfer directive
The Law on Aliens and Immigration (Amendment) (No. 2) Law of 2017 (Law 9(I)/2017) amends the Aliens and Immigration Law (Cap 105) to harmonise its provisions with Directive 2014/66/EU of the European Parliament and of the Council of 15 May 2014 on the conditions of entry and residence of third-country nationals in the framework of […]
Payment of annual fees by Cyprus Investment Firms
The Cyprus Securities and Exchange Commission has announced that the form required for Cyprus Investment Firms to calculate the annual fee payable to CySEC under the Investment Services Law (Law 144(I)/2007) in respect of the calendar year 2016 is now available on the CySEC website. Annual fees must be paid no later than four months […]
THE TREATMENT OF TRUSTS UNDER THE COMMON REPORTING STANDARD: A BRIEF OVERVIEW
In general, a trust is affected by the Common Reporting Standard (CRS) when it is categorized as either a reporting financial institution (FI) or a non-financial entity (NFE) that maintains a financial account with a reporting FI. Reporting FIs have a duty to report either their “account holders” or the “controlling persons” if their account […]
Who’s Who Legal endorsement for Nicholas Ktenas
For a second successive year, Nicholas Ktenas has been identified as one of only two expert lawyers in Cyprus in the field of Labour, Employment and Benefits by Who’s Who Legal. Who’s Who Legal identifies the foremost legal practitioners in specialised areas of business law by independent research and feedback from other specialists in each […]
Prohibited incentives for retail clients of Cyprus investment firms
On 16 March 2017 the Cyprus Securities and Exchange Commission (“CySEC”) issued circular C194 giving additional guidance to regulate Cyprus investment firms on the types incentives which CySEC considers to be inappropriate to be offered to retail clients. The latest circular is a follow-up to circular C168, dated 30 November 2016, which set out the […]
