TRANSFER OF BANK ACCOUNTS FROM EXLAIKI SYSTEM TO BANK OF CYPRUS
Bank Of Cyprus has announced that all accounts and other arrangements that clients of exLaiki Bank currently have in place, are expected to be automatically transferred to the respective Units of Bank...
View ArticleBANK OF CYPRUS: Release of 6-month deposits_official announcement
The Bank of Cyprus has decided to release the six month term deposits that were blocked as per the decrees relating to the recapitalization of the Bank in July 2013 and matured on 31 January 2014. The...
View ArticleBANK OF CYPRUS: Sale of Bank of Cyprus Ukraine, official announcement
Bank of Cyprus has reached an agreement to sell its loss-making non-core Ukrainian business. The proceeds of the sale, will enhance its liquidity position. The sale has minimal impact on the Group’s...
View ArticleBANK OF CYPRUS: Transfer of shares, official announcement
The shares in Bank of Cyprus PCL which resulted from the implementation of the bail-in, can now be transferred. Click here for the full announcement on the relevant procedure.
View ArticleHong Kong companies: Commencement of the new Companies Ordinance (Cap.622),...
By Companies Registry Monday, January 6, 2014 This circular is to announce the commencement of the new Companies Ordinance, Chapter 622 of the Laws of Hong Kong (“the new CO”), with effect from 3 March...
View ArticleTwenty seventh decree by the Minister of Finance on the enforcement of...
According to the Roadmap for the gradual relaxation of the restrictive measures which was published in August 2013, all milestones of the second stage have been met (Disbursement of funds under the...
View ArticleAnnual Levy (2014)
MARCH ALERT: Flat Annual Fee for all Cyprus Companies With reference to Law 2011 – Ν117(I)/2011 and the Amendment No 3, of 2011 all the Cyprus companies, even dormant ones, should pay the annual Levy...
View ArticleMoody’s has upgraded the three bigger banks in Cyprus
Excellent news for Cyprus Bank System, Moody’s has upgraded the three bigger banks in Cyprus: Bank of Cyprus, Hellenic Bank and the Russian Commercial Bank Ltd (RCB). - Bank of Cyprus, the island’s...
View ArticleCOMPANY LEVY 2014
With reference to Law 2011 – Ν117(I)/2011 and the Amendment No 3, of 2011 all the Cyprus companies, even dormant ones, should pay the annual Levy from the 1st year of incorporation once a year. For the...
View ArticleNEW SERVICES FROM GLOBALSERVE: TRADE FINANCE
Dear Friends, We, at Globalserve, continue our efforts to expand our services to meet our clients’ requirements by introducing another new product and service within our bank liaison department; we are...
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NEW SCHEME FOR GRANTING A CYPRUS PASSPORT
Cyprus has been an attractive jurisdiction for citizenship being member of the European Union and an international business center located at the crossroads of Europe, Africa and Asia. Recently, an...
View ArticleBank of Cyprus Releases Nine-Month Time Deposits
The Board of Directors of Bank of Cyprus (BoC) has decided to release the nine-month time deposits that, until now, have been blocked as per the decrees relating to the recapitalization of the bank in...
View ArticleAutomatic Dissolution of BVI Business Companies
According to the BVI Business Companies (Amendment) Act, 2012, Sections 69 and 84 (g), BVI Business Companies will now be automatically dissolved after seven years from the strike off date (instead of...
View ArticleFlat Annual Fee for all Cyprus Companies (2015)
With reference to Law 2011 – Ν117(I)/2011 and the Amendment No 3, of 2011 all the Cyprus companies, even dormant ones, should pay the annual Levy from the 1st year of incorporation once a year. For the...
View ArticleCYPRUS TAX RESIDENCY CERTIFICATE
In the spirit of transparency and substance, the Cyprus tax department has introduced a new application form for the issue of tax residence certificate for legal entities. The new form basically...
View ArticleTAX CALENDAR 2016 FOR CYPRUS COMPANIES
TAX CALENDAR 2016 FOR CYPRUS COMPANIES End of each month Payment of tax and special contribution withheld from the employees’ salaries during the previous month Payment of defense contribution...
View ArticleTAX CALENDAR FOR INDIVIDUALS 2016 (CYPRUS)
TAX CALENDAR FOR YEAR 2016 FOR INDIVIDUALS INCOME TAX March 31 Submission of Income Tax Return for the year 2014 of individuals preparing audited financial statements (I.R.1) April 30 Submission of...
View ArticleCOMMON REPORTING STANDARD
The international tax environment is changing into an entirely new one with transparency and substance being the main pillars of the new system, in a global effort to improve tax transparency and...
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