Micro News

A new independent report regarding the BVI's contribution to the global economy sheds light on a number of statistics, for example that it mediates inter-continental investment flows of over USD $1.5 trillion, and enables global investment and trade that will eventually support over 2 million jobs globally.…


Arendt & Medenach, the largest Law firm in Luxembourg has published guidance on the new group of residence permit introduced by the Luxembourg congress on February 8th this year to attract foreign investment. Foreign nationals can now obtain permits by depositing at least €20 million with a Luxembourg…


The Hong Kong government has decided to desert its bilateral approach to the automatic exchange of tax information (AEOI) discussions, and agreed to join the OECD's Multilateral Convention on Mutual Administrative Assistance in Tax Matters. The government will announce an amended bill into the Legislative…


Singapore has signed the OECD's Multilateral Competent Authority Agreement on Automatic Exchange of Financial Accounting Information; however the city-state has planned to implement exchange agreement on a bilateral basis with only provincial jurisdictions which have the necessary safeguards against…


The European Commission’s statistical office released the latest national debt figures, and found that in 2016, Cyprus’s general debt in the government sector was found to be attributed to 79% of non-nationals by non-residents, which was the highest of all members in the EU. Financial institutions and…


The CIPA (Cyprus Investment Promotion Agency) has been involved in a new initiative to attract overseas investors to the island in 2017. The government funded body quoted recent results from a survey from foreign investors from various jurisdictions and found that many considered administrational procedures…


The Cyprus government will appeal two district court decisions after a law designed to help so-called trapped property buyers went against the constitution. Following the recent rulings, implemented after banks objected to the legislation, the land registry was forced to suspended procedures. The court…


Last week, Finance Minister Mr Harris Georgiades attended the House transport committee meeting that discussed the demand of the Larnaca municipalities and the surrounding communities to impose a “passenger tax” to travel to Larnaca airport as a measure to recompense for the harsh environmental damage…


Chief of the Cyprus Police force Mr Zacharias Chrysostomou told an international conference in Nicosia about the existence of corruption in the police force in Cyprus, and that organised crime and corruption go hand in hand. Acknowledging the issue of corruption in the force, he reiterated that where…



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