- CIRCULARS CIF: C453 to Cyprus Investment Firms – Quarterly Statistics (Form QST-CIF) – 30/06/2021 Submission CySEC – Latest Entries
- CIRCULARS CIF: C452 to Cyprus Investment Firms – New Form CB-CIF, Freedom to Provide Investment Services and Activities (Cross Border Activity) CySEC – Latest Entries
- EU Commission advances legal action against Malta and Cyprus over passport for investment scheme JURIST – News – Legal News & Commentary
- 10 Hong Kong Pro-Democracy protesters sentenced to jail JURIST – News – Legal News & Commentary
- US House Foreign Affairs Committee chair introduces diplomacy act to challenge China JURIST – News – Legal News & Commentary
- DOJ releases part of Russian probe internal memo, seeks to block release of full document JURIST – News – Legal News & Commentary
- UN demands immediate release of Belarusian journalist and girlfriend after forced aircraft landing JURIST – News – Legal News & Commentary
- US Secretary of State condemns Belarus’ Lukashenko over journalist arrest JURIST – News – Legal News & Commentary
- Amnesty reinstates ‘prisoner of conscience’ status for Alexei Navalny JURIST – News – Legal News & Commentary
- Leaked documents expose loopholes in Malta cash-for-passports scheme JURIST – News – Legal News & Commentary
Amendments to Cyprus Company Law
February 24, 2019
The Cyprus Department of Registrar of Companies and Official Receiver (ROC) announced amendments to the Cyprus Company Law, particularly to Cap 113.
Changes relate to the new penalties for failure to make statutory filings in the required timeframe, and to the abolition of capital duty payment on a company’s share capital.
- The 0.6% capital duty payable on a company’s share capital doesn’t exist anymore.
- New penalties for failure to submit the necessary filings for such actions as allotment of new shares, transfer of shares, change of registered office and change of a company’s officers or their details. The new penalty will be EUR 50 an additional EUR 1.00 charge for each day of delay. The maximum penalty for each delay has been set at EUR 250.
- New penalties for failure to submit company’s Annual Return within the timeframe will be EUR 50 an additional EUR 1.00 charge for each day of delay in the first 6 months, and EUR 2.00 charge for each day of further delay. The maximum penalty for delay has been set at EUR 500.
January 24, 2020Professional Tax – new tax for Cyprus companies
At the end of 2019 Cyprus municipalities introduced a new tax for Cyprus companies called Professional Tax.
May 18, 2020CRS and FATCA: extension of reporting deadlines
In 2020, the deadlines for submitting financial statements in accordance with CRS and FATCA standards has changed.
July 10, 2020Cyprus: 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.
December 03, 2019Happy Lawyer’s Day!
December 3 is the lawyer's day in Russia. Congratulations to our colleagues on their professional holiday!
April 15, 2020Professional 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.
May 08, 2020CySec: 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 [...]
February 17, 2020OECD 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 [...]
April 13, 2020Communication 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.