BVI Update on Economic Substance Implementation

Earlier last year, the European Union created and set forth a list of "non-cooperative" taxation jurisdictions, popularly referred to as the 'EU Blacklist'. As part of this exercise, several of the traditional offshore jurisdictions, including the BVI, the Cayman Islands, Jersey and other crown dependencies, have been believed by the EU to be a part of such list.

Swiss Bearer Shares Ban Due to Take Effect Next Month

Restrictions on the ownership, transferal or exchange of bearer shares will come into power for companies and individuals in Switzerland next month on November 1st. A bearer instrument is a document that entitles the holder of the document rights of ownership or title to the underlying property, such…

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.

Environmental Tax to be Adopted by Cyprus by as Early as 2021?

Green taxes are expected to be introduced in 2021, Finance Minister Harris Georgiades said earlier in the week at a 3-day Global Conference on Environmental Taxation, organised by the Cyprus University of Technology (Greek: Τεχνολογικό Πανεπιστήμιο Κύπρου) or "ΤΕΠΑΚ" in Limassol.

Cyprus Government Propose Corporate Tax Rate Increase to 15%

Finance ministry sources on Tuesday confirmed reports that the government is considering raising the corporate tax rate from 12.5% currently to 15%, whilst trying to alleviating economists growing concerns that the island may lose its competitive edge as a business and maritime hub.

G7 & OECD: US & EU International Tax Consolidation

Finance Ministers of the G7 have officially voted to support the OECD's proposed new rules for the taxation of multinational conglomerates and businesses, using revisions of existing fund allocation and relationship rules, as well as using new global minimum tax regulations.

Revisions to the Cayman Islands Companies Law & LLC Law

The government in the Cayman Islands have released guidance about how amendments to the Companies Law and the Limited Liability Companies Law (LLC Law) will affect companies registered in the Cayman Islands. We have compiled a shortlist of the most notable information for companies and Directors: