Knowledge base

CySEC: impact of Swiss franc on Cyprus investment firms

Following the recent commotion created by the Swiss National Bank’s decision to discontinue the minimum exchange rate of 1.20 Swiss francs per euro with immediate effect, the Cyprus Securities and Exchange Commission (CySEC) is endeavouring to instigate an assessment of how far Cyprus Investment Firms (CIFs) have been affected.


Trademark Protection in Cyprus

Some call it symbol, others name it as mark or logo but in reality, it is the way the public at large can identify and recognise a particular product and or service and has been considered by many people as the most valuable asset and as indicators of source. What is a Trademark? A sign Which…


Cyprus Banking: The Current Situation

Firstly it is important to have an understanding of the recent Cyprus Banking Crisis and thereafter focus on the current situation. Cyprus Banking Crisis Explained – Cyprus Banking Institutions early Year 2013 During 2013 the Cyprus Banking sector faced its most challenging period to date. As a result…


CySEC: Information for Cyprus companies and service providers

The Cyprus Securities and Exchange Commission has recently released information to all Cyprus Investment Firms, Management Companies and Administrative Service Providers regarding fraudulent tax evasion, and also a proposal on the prevention of use of the financial system for the purpose of money laundering…


Cyprus company audit requirements

As per 152A(1)(a): The following companies shall, in accordance with the provisions of the Auditors and Statutory Audits of Annual and Consolidated Accounts Law2009 submit their financial statements to an Auditor for auditing: Every company required by this Law to prepare consolidated financial statements; Every…


Cyprus Interest and Royalties

No withholding tax applies on interest and royalties when paid from a Russian Company to a Cypriot company. This was ratified on the Protocol and signed by Russia and Cyprus during 2012 and implemented in 2013. According to the Protocol the current withholding taxes will continue to apply 0% to interest…


Information for Cyprus companies and service providers from CySEC.

The Cyprus Securities and Exchange Commission has recently released information to all Cyprus Investment Firms, Management Companies and Administrative Service Providers regarding fraudulent tax evasion, and also a proposal on the prevention of use of the financial system for the purpose of money laundering…


Setting up funds in Cyprus

Undertakings for Collective Investment in Transferable Securities UCITS is a pan-European Fund product which when established in one EU country can be sold cross boarder within the EU under a harmonised legislative framework without any requirement for additional authorisation. UCITS is the result of…


Voluntary wind up of a Cyprus company

Cyprus Company Law provides for a member led voluntary winding up of a company. In order for this to occur the company must be solvent. The voluntary winding up of a Cyprus company is formalised in Article 261 – 292 of the Cyprus Companies Law. Below is a summary of the processes involved in the voluntary…


International Trusts in Cyprus

Cyprus is a favourable jurisdiction for creating international trusts which are governed by the 1992 International Trusts Law which regulates the establishment and administration of International Trusts. The International Trust Law compliments the Trustee Law which is based on the English Trustee Act…