News

After four years of continuous growth, the Shanghai Composite index (SHCOMP) which had a great influence in the stimulus of the world economy has wiped out billions from worldwide investors. The Index had doubled in the last 10 months after the Chinese Government had stimulated the economy with local…


Bitcoin is a digital currency used to pay for a variety of goods and services. In many ways, it works the same as paper money with some key differences. Although phusical forms of Bitcoin exist, the currency's primary form is data so you trade it online, peer to peer, using wallet software or an online…


Even though gold prices are at a two year low, after 12 years of annual gains - Deutsche bank is capitalizing on the storage of the precious metal. As Singapore introduced a tax exemption from sales tax it had gave a boost in buying and selling bullion. Gold bullion is mainly stored in cities as London,…


A delegation of the Cyprus Shipping Chamber (CSC) has met with the Troika delegation to discuss the disadvantages of capital controls on the shipping industry. Troika is in Cyprus to review of the adjustment program which came into effect last march. The shipping industry constitutes 7% of the islands…


The company fees were imposed by the government in wake of economic measures to increase their liquidity needs. Official statements from the Department of the Registrar, have confirmed that the annual fee of 350 Euros was paid from a 73,267 companies. A total of 73,267 companies which are registered…


Cyprus Immigration - Regulatory Updates

The Schengen Borders Code, which outlines controls of immigration to Cyprus, is obliged to be implemented as indicated for EU member states. Civil Registry and Migration commentators have advised that new controls which are aimed to simplify the Schengen Borders code to avoid misinterpretation from…


In a time when many emerging countries are trying to implement, restructure and develop their economies, Ms Christine Lagarde (International Monetary Fund, Director) has warned of new global challenges. These challenges, already being evident from the BRIC's economies (Brazil, Russia, China, and India)…


Money outflow from Brazil, Russia, India, China and South Africa (BRIC's group) with the aim of the U.S. have sparked fears about their economies. The motion is apparent from the hike of the U.S. dollar, which the South American and Chinese governments are already coordinating action measures to diminish…


The OECD is a government-funded think tank that was charged by the G-20 to tackle the issue. Tax planning strategies used by companies as Google Inc. (GOOG), Apple Inc. (AAPL) and Yahoo! Inc. (YHOO) and other similar companies are in the Organization's for Economic Cooperation and Development (OECD)…


Tax amnesty for return of capital

A new proposition that has been approved by the Government to gear up capital by offering an amnesty period till the 31st of December 2013 could be a solution to increase the liquidity needs of Cyprus. The Government is aiming for the return of liquid funds that are currently held in tax havens abroad. In…