Cyprus residence and work permits – Companies with Foreign Interest This regulation has been replaced by the new and more favourable legislation as per 1/1/2022. Cyprus companies with non-EU shareholders that provided a paid-up capital of the company of minimum EUR 200.000 can employ up to 15 non-EU persons in upper and middle management positions, […]

CySEC (The Cyprus Securities and Exchange Commission), the regulatory body for financial service providers in Cyprus, has established an Innovation Hub, with the aim to address and explore the quickly evolving FinTech and RegTech developments. The Innovation Hub will provide a platform where both supervised and non-supervised entities will have ongoing access to CySEC’s regulatory […]

According to Alain Pilloux, EBRD’s Vice President for Banking, the bank has invested in Lebanon $75 million so far and this amount will reach more than $100 million by the end of its first year of operation in Lebanon. The European Bank for Reconstruction and Development (EBRD) plans to continue financing projects in Lebanon by […]

Gold over ground existing in the world The estimated amount of gold over ground existing in the world is 190.931 tonnes, while the estimated amount of gold reserves and resources (gold under ground, unmined) is estimated at 54.000 tonnes.   Physical gold in the world Physical gold over ground, which means physical gold that has […]

VAT Interpretative Circular 222 – Holding Companies On 9 January 2018, the Interpretative Circular 222 has been announced by the Cyprus Tax Department explaining the VAT treatment of holding companies. The Circular provides guidance on the interaction between holding companies and VAT based on existing ECJ case law (Court of Justice of the European Union). […]

The start-up scene in Lebanon is thriving quickly and Beirut is becoming the Middle East’s tech hub. Lebanon has all the key elements needed to achieve such results: an ambitious entrepreneurial culture, highly educated population, a number of incubators and accelerators, venture capitals and a favourable government policy. In August 2014 Banque du Liban (BDL) […]