Free Up Time For Your Core Business,
Let Eltoma Do the Rest!

The Latest

  • All
  • Expert`s Blog
  • Knowledge base
  • News
  • Micronews
Daily Expense Price Disclosure in Cyprus: 2020 Update
Daily Expense Price Disclosure in Cyprus: 2020 Update 21.10.2020 3 min read

Cyprus offers an enviable combination of climate, business and culture and holds its own as one of the smallest EU member states, (with Luxembourg and Malta being the only 2 countries in the EU with a smaller population) and an adaptable free-market economy with a positive long-term outlook despite the current challenging environment. Cyprus offers …

Arrest Warrants Issued for German Founders of Law Firm Mossack Fonseca
Arrest Warrants Issued for German Founders of Law Firm Mossack Fonseca 20.10.2020 3 min read

A spokesman for the public prosecutor’s office in Cologne, Germany, confirmed the existence of two international detention orders without specifying who, however German newspaper Süddeutsche Zeitung confirmed it was Jürgen Mossack and ‎Ramón Fonseca, the founders of the Panamanian law firm Mossack Fonseca. According to Süddeutsche Zeitung , German authorities hope that Mossack, who has …

Cyprus Government to Abolish Passport-by-Investment Scheme
Cyprus Government to Abolish Passport-by-Investment Scheme 19.10.2020 3 min read

After being implicated in an investigation exposing Cyprus’ shady Passport-by-Investment Scheme, the President of the Cypriot Parliament, facing mounting political pressure to resign, announced yesterday that he would step down from his positions as both speaker of the house and lawmaker for the Cyprus parliament. Two days following the bombshell investigation, Mr Syllouris finally agreed …

The Seychelles and the Dawn of the Offshore Era
The Seychelles and the Dawn of the Offshore Era 08.10.2020 3 min read

The Seychelles, like many other so-called tax havens are rushing to introduce amendments to existing legislation to be excluded from the list of non-cooperative countries that the EU has created to distinguish EU-based companies when trading with Seychelles companies by imposing additional taxes on payments toward the Seychelle counterparts of the EU companies. The EU …

Is There a Rocky Road Ahead for the Cyprus Banking Sector?
Is There a Rocky Road Ahead for the Cyprus Banking Sector? 01.10.2020 3 min read

Is the Cyprus banking sector considered to be overcrowded? If you look at the population size of Cyprus, you will most probably come to the conclusion that yes, it is quite oversaturated. There are 7 banks that have a full licence in Cyprus. These banks are listed below in alphabetical order: 1. Ancoria Bank Limited. …

Global Tax Developments in Response to the COVID-19 Pandemic
Global Tax Developments in Response to the COVID-19 Pandemic 17.09.2020 3 min read

Fiscal policies have provided important emergency aid to individuals and businesses during the COVID-19 pandemic. They are also essential to increase countries’ ability to react to a crisis and assist in the recovery and beyond. With most countries currently easing back into normal working hours and businesses are slowly opening, a vigorous economic recovery that …

Daily Expense Price Disclosure in Cyprus: 2020 Update
Daily Expense Price Disclosure in Cyprus: 2020 Update 21.10.2020 3 min read

Cyprus offers an enviable combination of climate, business and culture and holds its own as one of the smallest EU member states, (with Luxembourg and Malta being the only 2 countries in the EU with a smaller population) and an adaptable free-market economy with a positive long-term outlook despite the current challenging environment. Cyprus offers …

How to: Get Your Yellow Slip in Cyprus
How to: Get Your Yellow Slip in Cyprus 04.09.2020 3 min read

Applying for a residence permit (also known as the yellow slip) is a process which is to be completed by every EU citizen living and working in Cyprus. It is renowned for being lengthy and fastidious, and it doesn’t necessarily have to be! And once you have managed to obtain it, the permit does not …

Cyprus ASPs: How We Can Help
Cyprus ASPs: How We Can Help 25.08.2020 3 min read

Each licensed Administrative Service Provider (ASP) in Cyprus is registered under CySEC, and must comply with the preparation and submission of the below-mentioned reports in order to be eligible for maintaining a valid license in Cyprus: Annual Internal Audit Report. MLCO Annual Report. Monthly Prevention Report. Quarterly Statistics Report. We are an international corporate service …

The Named and Shamed from the Cyprus Papers Leak
The Named and Shamed from the Cyprus Papers Leak 15.10.2020 3 min read

A recent investigation from Al Jazeera into Cyprus revealed a plethora of leaked government documents, uncovering that Cyprus has sold dozens of passports to foreigners linked to crime. What the leak essentially shows, is that there have been 1,400 citizenship applications approved by the Anastasiades government between 2017 and 2019, to people from 70 countries. …

OECD Countries Fail to Reach Tax Agreement for Digital Multinationals
OECD Countries Fail to Reach Tax Agreement for Digital Multinationals 13.10.2020 3 min read

Earlier this week, 137 OECD member countries were unable to reach an agreement on the taxation of large digital companies before the end of 2020, a deadline set by the G20, therefore risking a proliferation of unilateral initiatives. The glass is half full: the package is almost ready, but a political agreement is missing”, acknowledged …

China Experienced Growth in Foreign Trade Last Month
China Experienced Growth in Foreign Trade Last Month 3 min read

China’s foreign trade continued to accelerate in September, confirming the rapid recovery of the world’s second largest economy, the first country to detect cases of the new coronavirus, but also to control the pandemic. Exports increased 9.9% to 239,800 million dollars after having grown 9.5% in August, according to Chinese customs data. Imports increased 13.2% …

Arrest Warrants Issued for German Founders of Law Firm Mossack Fonseca
Arrest Warrants Issued for German Founders of Law Firm Mossack Fonseca 20.10.2020 3 min read

A spokesman for the public prosecutor’s office in Cologne, Germany, confirmed the existence of two international detention orders without specifying who, however German newspaper Süddeutsche Zeitung confirmed it was Jürgen Mossack and ‎Ramón Fonseca, the founders of the Panamanian law firm Mossack Fonseca. According to Süddeutsche Zeitung , German authorities hope that Mossack, who has …

Cyprus Government to Abolish Passport-by-Investment Scheme
Cyprus Government to Abolish Passport-by-Investment Scheme 19.10.2020 3 min read

After being implicated in an investigation exposing Cyprus’ shady Passport-by-Investment Scheme, the President of the Cypriot Parliament, facing mounting political pressure to resign, announced yesterday that he would step down from his positions as both speaker of the house and lawmaker for the Cyprus parliament. Two days following the bombshell investigation, Mr Syllouris finally agreed …

BVI Will Make its Beneficial Register Public
BVI Will Make its Beneficial Register Public 09.10.2020 3 min read

As bank secrecy has gone with the wind, offshore company’s secrecy will follow the same route.