Cyprus Stock Exchange’s Emerging Companies Market (“ECM”) is similar to the AIM for the London Stock Exchange. As an added advantage, it is a Multilateral Trading Facility (MTF) as defined by the EU’s Markets for Financial Instruments Directive (MiFID) and operated by an EU regulated Stock Exchange. In contrast to AIM and other main stock...Read More

Cyprus is on the way of creating a “Fast Track Business Activation Mechanism”, after the Council of Ministers approved a proposal submitted by the Minister of Energy, Commerce and Industry, Ms Natasa Pilides. The Mechanism will introduce express service for investments from third countries. Companies which will be part of the Mechanism will enjoy greater...Read More

A new process to fast-track building permits in Cyprus is set to start on 1st October 2020, targeting to reduce the application processing time from several months to only 10 or 20 days. According to the Minister of Interior, Nicos Nouris, with the fast-track process, permits will be issued within 20 days for applications submitted...Read More

On 18th August 2020, the long awaited regulations governing the Cyprus Investment Programme have been published in the official Gazette. Although the main financial qualification criteria remain the same, the following changes have now been implemented: 1)    The minimum contributions to local (pre-determined) charitable organisations and innovation institutions have increased from EUR150.000 to EUR200.000 in...Read More

The International Economic Relations Directorate of the Greek Ministry of Finance issued a decision on the 31st March 2016 (and further decisions dated 28th January 2019 and 4th April 2019), clarifying specific provisions of the Double Tax Treaty between Greece and Cyprus with regards to the availability of tax credits for foreign taxes suffered. As...Read More

Cyprus continues to surface as one of the top EU investment fund centers. With the transposition of the Alternative Investment Fund Managers Directive in 2013, the enactment of the Alternative Investment Funds Law in 2014, the transposition of UCITS V in 2016 and the upgrade of the Alternative Investment Funds Law in 2018, the legislative...Read More

Greece, with newly enacted tax legislation, invites foreign pensioners to relocate and benefit from reduced taxation rates. Persons who receive retirement income from abroad and decide to become tax residents in Greece, can now enjoy a special, flat tax rate of 7% on the sum of their retirement income. The tax is payable annually as...Read More