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CRS Degree Issued by the Republic of Cyprus

05/01/2016

The Ministry of Finance has issued a Decree as to the application of the Organisation of Economic Cooperation and Development Common Reporting Standard (‘’CRS’’) and the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information.

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Cyprus – New Double Tax Treaties and Amendments to Existing ones

03/01/2016

Cyprus has been hard at work at expanding its network of Double Tax Treaties, high significant success. As of 2015, Cyprus has concluded three (3) new Doubt Tax Treaties with:

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Legal Update (Limited Partnerships)

31/12/2015

Update to the Partnerships and Business Names Law, Cap. 116 – The introduction into Cyprus Law of the “Partnership Limited by Shares” The recent amendment to the aforementioned law, by the adoption and enactment of the amending Law 144(I)/2015, introduces to Cyprus Law the notion of the Partnership Limited by Shares (“PLS”).

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Introduction of “Non-Dom” Rules

31/07/2015

The new non domiciled rules were introduced to further entice corporate executives and high net worth individuals (currently entitled to a 50 per cent tax exemption of personal income tax for a five-year period where income exceeds €100.000) to take up residency in Cyprus.

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