Since gaining independence from the UK in 1960 Cyprus has transformed itself into a successful, modern international business centre. A Member State of the European Union (‘EU’) since 2004, it provides a gateway for investment into and from Europe and, due to its geographic location, it enjoys strong commercial ties with Eastern Europe, the Middle …
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Before delving into Cyprus’ contemporary corporate and commercial landscape, it is essential to understand the historical context that has shaped the country as a business hub. The island’s strategic location has made it a sought-after territory throughout history, with influences from various civilizations. The British colonial era, which lasted from 1878 to 1960, further impacted …
The Civil Transactions Law (CTL), issued by Royal Decree M/191 dated 29/11/1444 AH (corresponding to 18 June 2023), which came into force on 16 December 2023, has revolutionized the legal system in the Kingdom of Saudi Arabia (KSA) in relation to civil rights and liabilities. The CTL can be considered a codification of Shariah principles. …
Doing Business In: Iceland
The Icelandic business environment can be described as a modern western environment. Iceland is a member of the EEA Agreement and as such enjoys the benefits of the European Single Market. In a recent survey Iceland was ranked 12th in Europe in a country ranking measuring the ease of doing business. Furthermore, Iceland ranked 12th …
Change is an inevitable and constant force in our lives, and its impacts are deeply felt in the importance of wealth management and business structuring. In a world where personal and corporate landscapes evolve rapidly, the ability to adapt and strategize becomes crucial. Life’s journey is unpredictable, often altering personal circumstances, financial goals, and business …
The Sultanate of Oman is proudly recognized as a nation founded on political stability with exceptional prospects for economic growth. Much like the rest of the gulf region, Oman and its business sector are far more than simply ‘developing’, with an abundance of natural resources in minerals, renewable energy and technology, Oman has been dedicated …
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Doing Business In: Armenia
Global Reach Through Treaties: Armenia has signed over 50 bilateral investment treaties (BITs) and double taxation [elimination] treaties (DTTs) with countries worldwide, including the United States, Canada, Switzerland, and China. Armenia is a member of several multilateral treaties (including the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID) …
Embarking on a business venture in Iraq presents a distinctive set of challenges and opportunities. While it’s true that Iraq is positioned towards the lower end of the World Bank’s ease of doing business report, this ranking only scratches the surface of what the country has to offer. As one of the globe’s richest nations …
Focus on: Banking Legislation in Turkey
The main legislation governing the banking sector is Law No 5411 (the “Banking Law”). Other key legislative and regulatory provisions are: Law No 1211 on the Central Bank of the Turkish Republic; Law No 6362 on Capital Markets; Law No 6102 on the Turkish Commercial Code (TCC); Law No 6098 on the Turkish Code of …
Doing Business In: Moldova
In 2023, Moldova’s GDP amounted to approx. USD 14.5 billion, a slight increase compared to 2022. The 2022 drought was one of the factors that contributed to the decrease of the GDP, leading to a 25.8% reduction of the gross added value of the agricultural sector to the GDP and an overall 2.7% GDP decrease. …