Spring 2023

The Registrar's consent is granted through the issuance of a "certificate of consent." However, obtaining this consent is not an automatic process and requires a specific set of documents and procedures.

In a nutshell, considering the recent developments in the regulations, it is even more important to pay attention to the compliance and due diligence procedures and proper UBO identification, always bearing in mind the "Red Flags" that can indicate an attempt to circumvent the restrictions.

In 2017, the foundation appeared in the UAE: in Abu Dhabi in the Abu Dhabi Global Market free zone, then in 2018, in Dubai in Dubai International Financial Centre, and in 2019, in Ras Al Khaimah in RAK International Corporate Centre.

On 14 February 2023, the news came out that Russia was included into one more list made by the EU. Some sources mention the grey list, some – the black one; future consequences also vary from source to source. In this article we will try to understand the shades of lists and their consequences.

Changes in the Cyprus tax environment since the last article (after 26/10/2022).