News

Deutsche Bank Involvement with the Latest in Jho Taek Low Case

New reports have come to light regarding Mr Jho Taek Low, who is a Malaysian businessman and international fugitive sought by the authorities in the US, Singapore, and Malaysia in connection with the 1MDB scandal.


The Current Issue with Excess Liquidity in Cyprus Banks

A recipe for potential problems and symptoms of a troubled economy is when the main banks have what is known as excess liquidity. When citizen have to borrow money, however have nowhere to borrow from, then it may as well just be spent on daily consumerism or travel. That is, to support the car industry or into the pockets of other neighboring more favourable holiday destinations.


Cyprus Financial Authorities Agree to Reduce Bank Charges & Assist Elderly Clients

Earlier this week, financial authorities such as Bank of Cyprus, issued a ruling officially scaling back on the recently announced controversial bank charges, which corporations and individuals found out about towards the end of last year. In a seemingly hasty move at the time.


Cyprus Compliance Report: MONEYVAL Analysis Released

Statement of the Advisory Authority for Combating Money Laundering and Terrorist Financing on the publication of the 5th Round Mutual Evaluation Report of Cyprus by MONEYVAL, the Committee of Experts of the Council of Europe on the Evaluation of Anti-Money Laundering Measures and the Counter Financing of Terrorism.


Key Strengths & Weaknesses of Cyprus' Financial Sector in 2020

The Cyprus Advisory Authority has released a statement about the recent publication of the Mutual Evaluation Report (MER) about the island, which has been conducted by MONEYVAL (the Committee of the Council of Europe) after several months of investigations and evaluations.


Cyprus Shipping License & its Current Tax Levels Renewed for 10 More Years

The European Commission has granted Cyprus’ Shipping request by to prolong the Cyprus Shipping Taxation System for another 10 years. The extension request was submitted to the Commission for official approval earlier towards the end of 2019, according to reports.


Tax Exemptions in the Updated Cyprus-Ukraine Tax Treaty

Last month, the parliament of Ukraine passed a draft law endorsing the amending Cyprus Double Tax Treaty Protocol. The Cyprus-Ukraine Tax Treaty has been in effect for 5 years since December 11th, 2015. Consequently, the amending protocol is now being implemented and will come into force next year by 1st January 2020.


Green Olives Get Their Own Annual Festival in Episkopi, Cyprus

Green olives or elies tsakistes (Ελιές τσακιστές) as they’re known in Greek, recently received the recognition they deserve for being such an integral part of Cyprus’ food and culture.


Cyprus Receives 15,000 Yellow Slip Applications Since Brexit Announcement

The Cyprus government have released the official figures for residence certificates (yellow slip) applications since July 2016, when the UK voted to leave the EU. The departure has seen over 15,000 new British national applications have been filed.