With effect from 1 January 2013 the corporate tax rate has been increased from 10% to 12,5%. Transfer and carry forward of tax losses by credit institutions With effect from 25 March 2013, in the event of a transfer of operations, assets, rights or obligations from one credit institution to another under the Credit Institutions [...]
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The Minister of Finance, in exercise of the powers conferred by Articles 4 and 5 of the restrictive measures in trade in Case of Emergency Act of 2013, upon the recommendation of the Governor of the Central Bank has issued a decree provides for the following restrictive measures among others: 1. From current accounts/sight accounts/ [...]
Cyprus reached a €10bn bailout deal with international lenders on Monday (25/03/2013) morning. The deal avoids a levy on bank accounts but will force large losses on big deposits in the island’s two largest lenders Bank of Cyprus and Laiki Bank. What is important is that the European Central Bank will keep its emergency lifeline [...]
The decision of the Cyprus Parliament to reject the bailout deal on Tuesday night has proven the trustworthiness of Cyprus as a major financial center sending out the signal that the deposit funds of all depositors are totally safe. Despite threats, unethical attacks and psychological violence that was exercised by the Eurogroup on Cyprus’s political [...]
New and accelerated procedure for granting Immigration Permit to applicants who are third country nationals and intent to invest in the Republic of Cyprus. According to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the Minister of the Interior decided to issue Immigration Permit to applicants, who are third country nationals, provided that they fulfill the following criteria…
