Pressure Rises for British Overseas Territories to Adopt Transparency Measures

The UK’s overseas territories are facing pressure to adopt public registers of company ownership at the end of the decade after the conservative UK government discovered it would have to support a minority-approved amendment designed to stem the global flow of laundered money.

Fifth Anti-Money Laundering Directive Ready to be Implemented within Europe

The European Parliament last week voted with a landslide of approvals regarding the final wording of the Fifth Anti-Money Laundering Directive, supporting the multilateral agreement reached between Member States' ministers in December last year.

Singapore: Closer to Signing EU Trade Agreement (EUSFTA update)

Following a recent meeting with Singapore, the European Commission has presented the outcome of the negotiations to the European Council; marking the first steps to completing the European Union-Singapore Free Trade Agreement (EUSFTA).

Representatives from the troika of Cyprus’ international lenders, the International Monetary Fund, European Commission and the European Central Bank, recently visited Cyprus for conducting their 4th post-scheme investigation following the islands recent withdrawal from the economic adjustment programme as agreed with the terms of the bailout.

The EU included South Korea and UAE in the list of prohibited offshores

Due to the fact that there is withholding of tax information in these jurisdictions, the European Union has published a "black list" of offshore companies. The list contains states whose efforts in the field of combating money laundering and terrorism do not meet the standards of the European Union.

Malta’s Sandbox Test of Cryptocurrency Control

Malta’s regulators are studying the possibility of regulating cryptocurrencies, early this year at the Centre for European Policy Studies (“CEPS”) Ideas Lab of 23-24th February, 2017 in Brussels.

Bitcoin plummets after China denounces Initial Coin Offerings as illegal

Earlier this month, China shocked investors everywhere by banning both corporate and personal fund raising using ICOs (initial coin offerings) such as bitcoin, stating that such practices constitute illegal fundraising due to the current lack of regulations and increasing reports of misuse.

Cyprus: 7th Most Popular Place in Europe for Brits

Notably, the most popular hotspot is Paphos when is then followed by Famagusta, Limassol, Larnaca and Nicosia. The majority of inquiries were for houses/villas in Limassol at 55%, whereas others were interested in apartments in Nicosia leading with 72%. Limassol leads with the highest average listing price at EUR €329,431 whereas Famagusta has the lowest average asking price of EUR €127,855.