The BVI economic substance requirements for legal entities

The International Tax Authority of British Virgin Islands has issued the final form Rules on Economic Substance. Actions must be taken by all BVI companies, and limited partnerships with legal personality.

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WHY SHOULD CYPRUS BE YOUR NEXT FILMMAKING DESTINATION?

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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RE-DOMICILIATION OF A FOREIGN COMPANY IN CYPRUS

Re-domiciliation is the procedure under which a company can transfer its seat of incorporation from one country to another, provided that its existing jurisdiction and its Memorandum allows the transfer and the continuation under the new jurisdiction.

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UAE introduces Economic Substance Regulations

There is a global concern with respect to companies who cannot demonstrate adequate economic substance coupled also with lack of transparency with respect to the beneficial owners, as such characteristics, can conceal the real purpose of the transactions and facilitate money laundering and tax avoidance.

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Limassol is one of the top 100 cities of quality living worldwide!

Based on Mercer’s results Limassol ranked 86th of 231 cities.

Vienna is on top, followed by Zurich, Vancouver, Munich and Auckland. Other European cities are Dusseldorf, Frankfurt, Copenhagen, Geneva, Basel and also Athens.

Cyprus based on its geographical position and having one of the warmest climates in the Mediterranean is one of the most popular jurisdictions to live!

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Cyprus Start-up Visa for third country nationals

The Cyprus government has decided to expand the Cyprus Startup Visa scheme for another two years and grant up to 150 visas to non-EU and non-EEA nationals to enter, reside and work in for the establishment, operation and development of startups. The new scheme is valid from March 2019 to May 2021 and it is subdivided to two schemes: for individual and for team.

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Substance Requirements is the way ahead for international business

Base Erosion Profit Shifting (BEPS) was first introduced in the OECD’s report published on 12 February, 2013 and refers to tax planning strategies that exploit gaps and mismatches in tax rules in order to artificially shift profits to low or no-tax locations where there is little or no economic activity.

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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

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