Cyprus economic substance and beneficial ownership….. 18 solutions
The case of Cyprus The viability of international tax planning and business structures has been affected by a coordinated effort by the G8 to address tax evasion of offshore companies. These changing regulatory requirements raise important questions for owners of Cypriot companies:…Read more
New Cyprus tax bill is expected to pass during the year 2015
Recently there have been new developments in the Cyprus tax legislation. A new law “domicile law” is now prepared which is similar to that of the UK and is expected to pass as a new law during the year 2015. The proposals under discussion relates to “non-domicile” individuals. Read more…
Cyprus capital controls are now totally lifted
Capital controls introduced after Cyprus bailout two years ago, are now totally lifted.The lifting of all remaining control marks the definite restoration of confidence in Cyprus banking system. Cyprus introduced capital controls to prevent an outflow of capital after international lenders forced Cyprus to close down a bank and to recapitalize its primary lender by seizing 47.5 percent of deposits over 100,000 euros as part of a 10-billion-euro bailout plan in March 2013.
Why Cyprus Company formation
Over the past twenty years, Cyprus has developed into one of the most favourable places for international business. A low tax regime combined with its excellent geographical position and infrastructure and its ability to offer sophisticated Cyprus tax planning opportunities, its ability to set up and manage Alternative Investment Funds (AIFs), the enactment of the Cyprus International Trusts Law which provided for the formation and administration of Cyprus International Trusts combined with its excellent geographical position and infrastructure where the key factors for its success. Read more…
Limassol Luxury Marina has reported record residential sales to date, revealing that some 80% of the development’s apartments have been sold thus far. Limassol Marina offers exclusive waterfront developments combining elegant residences and a state-of-the-art marina with exclusive restaurants and shops, to create a lifestyle uniquely shaped by ‘living on the sea’. It boasts a capacity of 650 berths, able to accommodate yachts between 8 and 115m. It also combines luxury apartments and exclusive villas with private berths or direct access to the beach. Limassol luxury Marina has established itself as one of the most attractive and unique projects across Europe.
Cyprus Luxury casino resort
A bill has been passed by the Cyprus parliament which shall allow for the establishment and operation of casinos in Cyprus. The government aims to select and license a casino operator within less than a year. The casino resort – whose cost of construction is estimated at €500 million is expected to bring to the Island high-net-worth individuals. It is worth mentioning that the Casino resort would require the attraction of an additional 500,000 to one million tourists to the island annually. The casino will be of international standards, a hotel or hotels exceeding the requirements for a five-star establishment under existing laws with at least 500 luxury rooms, at least 100 gaming tables and at least 1,000 gaming machines.
PKF Cyprus Tax Guide 2015
PKF Cyprus Tax Guide 2015 provides comprehensive and up to date information to Cyprus Companies and Individuals on Cyprus tax system and on Cyprus Tax rates, such as personal income tax, corporate tax, capital gains tax, immovable property tax, VAT rates, immovable property transfer fees, Cyprus Double Tax Treaties, etc. In addition PKF Cyprus Tax Guide can be a useful reference in general and Cyprus tax planning.. Read more…
Contact For more information please contact PKF Nicosia Cyprus on: Email: info.nicosia@pkf.com.cy Tel. No: +357-22-46-27-27
PKF International is a worldwide association of legally independent firms spanning across 300 offices in 125 countries. PKFI member firmsemploy more than 2,000 partners and more than 22,000 staff. PKFI is a member of forum of firmsand is the 11th largest global accountancy network. PKF Cyprusis a major accounting firm in Cyprus. Our firm operates from two locations, Limassol and Nicosia. It employs more than 100 staff of which a significant number consists of chartered, certified and certified public accountants, management and tax consultants.
Disclaimer: The authors expressly disclaim all and any liability and responsibility to any person, entity or corporation who acts or fails to act as a consequence of any reliance upon the whole or any part of the contents of this document. Accordingly no person, entity or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining advice from an appropriately qualified professional person or firm of advisors, and ensuring that such advice specifically relates to their particular circumstances. PKF/ATCO Ltd is a member firm of the PKF International Limited network of legally independent firms and does not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms.
