News

September 30, 2021

CIRCULARS CIF: C470 to Cyprus Investment Firms – Quarterly Statistics, Form QST-CIF – Revised Form CySEC – Latest Entries

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September 28, 2021

Mishcon Forms Association With Hong Kong Firm, Bolstering Asia Investment Law.com

London-based Mishcon de Reya has launched its second international office in Hong Kong, a little over a year after its overseas debut in Singapore.  The firm has entered into an association with Hong Kong disputes and investigations [...]

September 24, 2021

Russian Gas Firm Executive Arrested in U.S. on Tax Charges WSJ.com: World News

The U.S. has arrested a high-profile executive of a major Russian gas company on federal tax-evasion charges related to what federal officials said were violations that spanned more than a decade. The arrest of Mark Gyetvay, the deputy chairman of the management board of Novat [...]

September 24, 2021

US arrests finance chief of Russian natural gas group Novatek FT

Newsletter: Europe Express Your essential guide to what matters in Europe today. Delivered every weekday. The US has arrested one of the most influential executives in Russia’s natural gas industry o [...]

September 11, 2021

Afghanistan dispatches: ‘Terrible changes and disasters have come upon society.’ JURIST – News – Legal News & Commentary

JURIST EXCLUSIVE – Law students and lawyers in Afghanistan are filing reports with JURIST on the situation there after the fall of Kabul to the Taliban. Here, a female law graduate in Kabul offers her observations and perspective. For privacy and security reasons we are withhol [...]

August 31, 2021

Afghanistan dispatches: ‘I finally reached USA. I am safe but not OK.” JURIST – News – Legal News & Commentary

JURIST EXCLUSIVE – Law students and lawyers in Afghanistan are filing reports with JURIST on the situation there after the fall of Kabul to the Taliban. Here, an Afghan  lawyer who recently evacuated to the United States offers his observations and perspective. For privacy [...]

July 01, 2021

CIRCULARS CIF: C453 to Cyprus Investment Firms – Quarterly Statistics (Form QST-CIF) – 30/06/2021 Submission CySEC – Latest Entries

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June 23, 2021

CIRCULARS CIF: C452 to Cyprus Investment Firms – New Form CB-CIF, Freedom to Provide Investment Services and Activities (Cross Border Activity) CySEC – Latest Entries

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June 11, 2021

EU Commission advances legal action against Malta and Cyprus over passport for investment scheme JURIST – News – Legal News & Commentary

The European Commission on Wednesday advanced its infringement proceedings against the EU island states of Cyprus and Malta over their [...]

May 29, 2021

10 Hong Kong Pro-Democracy protesters sentenced to jail JURIST – News – Legal News & Commentary

The Hong Kong District Court has sentenced 10 pro-democracy activists to jail on charges under the new national security law Friday. The activists were charged with several unauthorized a [...]

May 27, 2021

US House Foreign Affairs Committee chair introduces diplomacy act to challenge China JURIST – News – Legal News & Commentary

Chairman of the US House of Representatives Foreign Affairs Committee Gregory Meeks (D-NY) introduced a bill on Tuesday to reinvigorate American leadership and engagement to respond to challenges presented by the People’s Republic of China. The [...]

May 26, 2021

DOJ releases part of Russian probe internal memo, seeks to block release of full document JURIST – News – Legal News & Commentary

The US Department of Justice (DOJ) on Monday released a part of an internal memo that was used in 2019 by former Attorney General William Barr in his decision not to prosecu [...]

May 25, 2021

UN demands immediate release of Belarusian journalist and girlfriend after forced aircraft landing JURIST – News – Legal News & Commentary

The UN Office of the High Commissioner for Human Rights (OHCHR) has demanded the immediate release Tuesday of Belarusian journalist Roman Protasevich and his girlfriend Sofia Sapega aft [...]

May 25, 2021

US Secretary of State condemns Belarus’ Lukashenko over journalist arrest JURIST – News – Legal News & Commentary

US Secretary of State Antony Blinken condemned the actions of Belarus President Alexander Lukashenko Sunday in detaining opposition journalist Roman Protasevich. Lukashenko’s s [...]

May 10, 2021

Amnesty reinstates ‘prisoner of conscience’ status for Alexei Navalny JURIST – News – Legal News & Commentary

Amnesty International on Friday announced its decision to re-designate Alexei Navalny, one of Russian President Vladimir Putin’s most prominent opposition criti [...]

April 23, 2021

Leaked documents expose loopholes in Malta cash-for-passports scheme JURIST – News – Legal News & Commentary

Leaked documents Wednesday exposed Malta’s cash-for-money scheme, which provided loopholes for Chinese, Saudi and Russian millionaires to attain EU passports. The documents were exposed by the Daphne Caruana Galizia Foundati [...]

January 22, 2021

Cyprus: the deadline for the introduction of a fine for late filing of a declaration on the HE32 form has been postponed

The Registrar of Companies of Cyprus announced the postponement of the introduction of a fine for late filing of a declaration on the HE32 to the 1 of April 2021.

January 20, 2021

Electronic Register of Beneficiaries in Cyprus: start date of collection of information of beneficiaries has been postponed

Registrar of Companies of Cyprus informed that the start date of data collection of companies is postponed to 22 of February 2021.

January 19, 2021

Cyprus Authorities presented the new portal for online payments of the social insurance contributions

Cyprus Authorities presented the new portal for online payments of the social insurance contributions - SIS net use of which will be mandatory starting from January 25.

December 23, 2020

Electronic Register of Beneficiaries in Cyprus

The Council of Ministers of Cyprus on 16/12/2020 decided to Appoint the Registrar of Companies and Official Receiver, as the competent authority for the maintenance of the central Register of Real Beneficiaries of the companies and authorized it to collect information about the actual beneficiaries of companies and other legal entities through the system developed.

October 07, 2020

EU list of non-cooperative jurisdictions for tax purposes was updated

Cayman Islands and Oman were removed from the list of non-cooperative jurisdictions, Barbados and Anguilla were added in their place.

September 16, 2020

Corporate administrators can provide a new type of service

The Law Regulating Companies Providing Administrative Services and Related Matters of 2012 (the Law) has been further amended on 17/08/2020.

August 14, 2020

Russia and Cyprus: Tax Agreement on New Terms

On August 10, as part of the negotiations, Cyprus agreed to new conditions that provide for withholding tax at the sources of payment at the rate of 15% for dividends and interest paid from the Russian Federation.

August 10, 2020

Tax Residency in 90 Days

At the beginning of the pandemic, the Organization for economic cooperation and development recommended that countries change their legislation so that isolation does not affect tax residency.

July 14, 2020

The OECD has published the results of automatic exchange of information on financial accounts in 2020

The CRS requires countries and jurisdictions to exchange information about non-residents' financial accounts received from their financial institutions annually, which reduces the probability of tax evasion in offshore zones.

July 10, 2020

Cyprus: Since 1 of July Contributions to the GESY Fund Have Increased

From March 1, 2020, contributions to the Fund of the state health insurance system of Cyprus GESY were supposed to grow as part of the second stage of the reform of this system.

June 26, 2020

Cyprus: Changes in the Rules of Notional Interest Deduction

On June 16, 2020 the Cyprus Government Gazette published amendments to the Cyprus Income Tax Law (ITL) (Law 66 (I)/2020) concerning the rules for deducting conditional interest (notional interest deduction – NID).

June 10, 2020

Cyprus Government continues to actively support business

In Cyprus, the process of gradual lifting of restrictive measures began in May. But Cyprus Government maintains and extends measures to support businesses and citizens.

May 21, 2020

The European Commission steps up fight against money laundering and terrorist financing

The Commission has published a comprehensive Action Plan on its official website, which sets out concrete measures on combating money laundering and terrorist financing.

May 18, 2020

CRS and FATCA: extension of reporting deadlines

In 2020, the deadlines for submitting financial statements in accordance with CRS and FATCA standards has changed.

May 08, 2020

CySec: Changes of the Due Date for Some Obligations in Cyprus

The financial regulatory agency of Cyprus (CySec) has changed some due date obligations for issuers, providers and funds: The due date for the obligation of issuers to publicise the annual financial statements for 2019, is postponed for the 30 of June 2020. The due date for [...]

April 30, 2020

Communication tools with Korpus Prava specialists

Currently, when most of us work remotely, we would like to inform you once again that all specialists of Korpus Prava remain in touch.

April 15, 2020

Professional consulting support of our specialists

Taking into account the current situation, our clients have a lot of different issues that require professional consulting support on-line.

April 13, 2020

Communication tools with Korpus Prava specialists

Currently, when most of us work remotely, we would like to inform you once again that all specialists of Korpus Prava remain in touch.

March 17, 2020

The Concept of Tax Monitoring Development Was Approved

The Russian government has approved the concept of developing a tax monitoring system.

March 03, 2020

Antitrust Compliance in Russia

On March 1, 2020, the President of the Russian Federation signed the Federal law "On Antimonopoly compliance", which provides for amendments to law No. 135-FZ "On protection of competition".

February 17, 2020

OECD has published a consultation document on the review of Country-by-Country Reporting

OECD released public consultation document that is based upon the mandate set out in the BEPS Action 13 report, and focuses on issues concerning the use of CbC reports by tax administrations for the purposes of a high level transfer pricing risk assessment. The public consultation document [...]

January 24, 2020

Professional Tax – new tax for Cyprus companies

At the end of 2019 Cyprus municipalities introduced a new tax for Cyprus companies called Professional Tax.

December 18, 2019

New penalties for late submission of HE32

As we reported earlier, the Cyprus Registrar of Companies has introduced new penalties for the late submission of the Company Annual Return (HE32), effective from the 18th of December 2019. Please note that the deadline for submission of Company Annual Return (HE32) was extended until A [...]

December 04, 2019

Seminar “Cyprus-Russia” was held on November 28 in Limassol

Last week in Cyprus was held a seminar "Cyprus today: is the harbor safe in an era of global economic climate change".

December 03, 2019

Happy Lawyer’s Day!

December 3 is the lawyer's day in Russia. Congratulations to our colleagues on their professional holiday!

November 28, 2019

Corporate changes on Cyprus

As of 18/12/2019, further penalties shall apply with regards to the submission of the following Notices to the Department of Registrar of Companies and Official Receiver: Notice of change of Registered Address (HE 2): Every submission beyond the time-frame prescribed by t [...]

May 15, 2019

On 13-14 of May in Cyprus took place The 5th BEST INVEST Congress

On Tuesday, May 14 was the 2nd and final day of the investment Congress BEST INVEST 2019, dedicated to investment issues, and also to Russian-Cyprus cooperation. On May 13, a seminar on the problems and opportunities of doing business in Cyprus and Russia was held within the framework of th [...]

April 23, 2019

As part of AI’s 2019 Leading Adviser Awards Korpus Prava has been recognised as Leading International Tax Planning Lawyer of the Year in Russia

In 2019 Korpus Prava was recognized as a Leading Law Firm in the field of International Tax Planning in Russia.

March 04, 2019

Korpus Prava has been chosen as a winner at the category – Corporate Law Firm of the Year in Russia – 2019

Korpus Prava has become a winner at the category - Corporate Law Firm of the Year in Russia.

February 24, 2019

Amendments to Cyprus Company Law

The Cyprus Department of Registrar of Companies and Official Receiver (ROC) announced amendments to the Cyprus Company Law.