New filming scheme: why should you consider filmmaking in Cyprus?

On September 2018, the scheme for the promotion of the film industry and the promotion of the Republic of Cyprus as an island for filming (the “Cyprus filming scheme”) was brought into force by the organization Invest Cyprus (the “CIPA”) with the creation of the online platform “Film in Cyprus”, through which interested filming companies can be informed and submit their application to participate to the Cyprus filming scheme which offers a number of inceptives to its participants. The implementing body for the Scheme is the Cyprus Film Commission (the “Committee”).

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General Data Protection Regulation

What is it

On 25th of May 2018, the General Data Protection Regulation on personal data of the EU (the “GDPR”) came into force with direct application to all member states of the European Economic Area (“EEA”) requiring stronger protection of personal data more than ever before. However, not all entrepreneurs understand the impact to their legal obligations.

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Kyriakos Antoniou and Associates LLC

Establishment of our affiliated company Kyriakos Antoniou and Associates LLC
and legal services offered

A new established law firm in Limassol, Cyprus is ready to advise and assist you by offering legal services of outstanding quality in any legal issue.

Visit our website for further information and contact us…

www.kalegalservices.com.cy

You are our priority…

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LEI REGISTRATION FOR EUROPEAN COMPANIES

On the 3rd of January 2018, the new European legislation, the Markets in Financial Instruments Directive and the Markets in Financial Instruments Regulation (collectively, ‘MiFID II’) will take effect across all European Union (EU) member states, including Cyprus.

Pursuant to the above mentioned EU legislation, all companies must acquire an LEI code if they are trading in financial instruments. The LEI is used as the identifier for the legal entity whenever it undertakes investment activity itself or when a financial institution undertakes investment activity on its behalf in a reportable financial instrument such as equities and bonds. The unique LEI enables regulatory authorities in Cyprus and the rest of the EU to monitor trading activity with specific emphasis on market abuse and market manipulation. Continue reading

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Changing Fiscal and Banking International Environment, Moscow 5th October 2017

Globalserve Consultants Ltd organized succesfully the seminar “Changing Fiscal and Banking International Environment” in Moscow at the Radisson Blu Tversakaya Hotel on Thursday 5th of October. Continue reading

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UAE Value Added Tax (“VAT”)

The UAE Value Added Tax (“VAT”) comes on effect on January 1st 2018. The standard rate of 5%  will apply on most goods and services unless specifically designated as zero rated or exempt.

Taxable goods and services provided by UAE companies with annual revenue in excess of AED 375 000 are required to register for VAT unless exempt. Companies are required to register 3 months before this date, in Q4 of 2017, and will be provided with a Tax Registration Number (TRN). Voluntary registration is permitted for businesses with revenue of less than AED 375 000 but more than AED 187 500.

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Changes on Belize International Business Companies Act

Belize has made changes on its International Business Companies Act aiming to maintain its financial  services industry in the changing and increasingly regulated international environment. All changes made, were carefully crafted under the address of OECD requirements while at the same time minimizing their impact on investors.

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Changing Fiscal and Banking International Environment, Moscow 5th October 2017

Globalserve Consultants Ltd, is organizing the seminar “Changing Fiscal and Banking International Environment” in Moscow on Thursday 5th October together with Bank Of Cyprus as the main sponsor. The seminar will take place at the Radisson Blu Hotel from 9:00 am until 1:00 pm and professionals from relevant sectors like advocates, accountants, auditors are invited to attend.

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New Scottish Limited Partnership Regulations 2017

Requirement to file beneficial owners/persons with significant control (PSC).

With respect to the new UK legislation that came into force in 2016, requiring UK companies to maintain a register of beneficial owners or of persons with significant control (PSC), please note that this requirement extends now to the Scottish Limited Partnerships.

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Obtain Citizenship in Cyprus through the Investment Program

Cyprus, is the ideal jurisdiction to have your summer holidays and also explore business and investment opportunities. It is one of the most popular International Business Centers in Europe, ideal for investments due to its advantageous tax system, the wide network of double tax treaties and most importantly the very good treaties executed with the above countries and its developed business environment.

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