Stamp Duty
1. Scope of the Stamp duty Law. 1.1.Stamp duty is governed by Stamp Duty Law (19/1963) (hereinafter the “Law”). The Law (article 4 (1)) provides that the documents that are specifically named in its first schedule (and only such documents) are subject to stamp duty provided these documents relate to: (i) assets situated within the …
Medical Cannabis Legalisation
THE MAIN PROVISIONS OF THE LEGISLATION WHICH IS UNDER DISCUSSION BEFORE THE HOUSE OF THE REPRESENTATIVES FOR THE LEGALISATION OF THE IMPORTATION AND/OR PRODUCTION AND/OR CULTIVATION OF PHARMACEUTICAL CANNABIS
FBME Bank Ltd: Compensation to Depositors, Deadline until 11th April 2018.
The Central Bank of Cyprus has on 9/4/2016, activated the procedure for the payment of compensation amount from the Deposit Guarantee Fund for Banks for deposits held in FBME Bank Ltd – Cyprus branch.
Cyprus’ strong economic recovery-2018 Outlook
Cyprus’ strong economic recovery will continue in 2018 with the GDP expected to be 3.2% (2017: 3.8%) which is well above the European Union average. Inflation forecast shows an increase in 2018 to 1.2% (2017: 0.7%) well within the healthy limits, with unemployment expected to be near the 10% mark in comparison with 13% of …
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Tax Update
Cyprus Tax Authorities announce the 10 year bond yield for Notional Interest Deduction (NID) purposes The Cyprus tax authorities have announced the interest yield of the 10 year government bonds as at 31st December 2017 which increased by 3% grants tax allowance on new capital introduced into the Cyprus company.
Cyprus An Emerging Eu Fund Jurisdiction
Cyprus consistent efforts to modernize its regulatory environment for investment funds, has created a legal framework bearing hallmarks of the regimes in Luxembourg and Ireland, and has strengthened Cyprus’ profile as an emerging European funds and asset management domicile.
New Partners
The Law firm of Stelios Americanos & Co LLC, with pleasure announces the appointment as new Partners / Directors:
Stelios Americanos & Co Llc Advises The €100 Million Restructuring Of The Athienitis Group
Stelios Americanos & Co LLC advised Athienitis Group over €100 million debt restructuring The high profile transaction was one of the most complex restructuring in Cyprus as involved bank debt, bond holders issues and related litigation, financing provided by the Cyta Provident Fund, minority shareholder considerations and the construction and management of the Nicosia Mall …
Cyprus Tax residency for Individuals – Period of stay reduced to 60 days
On the 14th of July the Cyprus Parliament passed a law amending the Income tax law of 2002 as to the requirements of tax residency of individuals in Cyprus.
DC Finance Family Office & Wealth Management Conference in Israel: Cyprus Citizenship and Permanent
Stelios Americanos & Co LLC, participated in DC Finance conference in Israel on the 13th of June 2017. The seminar took place at Hilton, Tel-Aviv.