CYPRUS TRANSFER PRICING: SIMPLIFICATION MEASURES

The Cyprus Tax Department issued a Circular in July 2023 regarding the simplification measures for Transfer Pricing (TP), with retroactive effect as of 1 January 2022.

REVISED CRITERIA FOR PERMANENT RESIDENCE PERMIT APPLICANTS IN CYPRUS

On the 27th April 2023, the Cyprus Civil Registry and Migration Department, announced new and revised criteria for the submission of Permanent Residence Permit (PRP).

JUDICIAL LIQUIDATION BY CREDITOR'S APPLICATION

Pursuant to Article 211 of the Companies Law, a company may be wound up by the Court if the company is unable to pay its debts.

ARTICLE: REDEEMABLE PREFERENCE SHARES – A USEFUL TOOL IN CORPORATE FINANCING

Redeemable preference shares are a useful tool for private limited companies and SPVs to finance private equity and other corporate projects.

E&G ECONOMIDES LLC CONTRIBUTES TOWARDS THE 4TH EDITION OF THE ICLG DIGITAL BUSINESS 2023

Xenia Kasapi and George Economides have once more contributed to the 4th edition of ICLG Digital Business 2023 series in Cyprus.

TECHNICAL NEWS

• New tax exemptions for first employment in Cyprus
• BVI: Submissions of Annual Financial Returns
• ATAD 3: New EU Directive to prevent misuse of shell entities
• 2023 Cyprus reference rates for Notional Interest Deduction
• Cyprus suspends Public Access to UBO Registers following ECJ Ruling
• British Virgin Islands: Amendments to the BVI Business Companies Act

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