End of bank secrecy in the UAE from 2018 PUBLISHED ON 21/03/2017
The change of rules of fiscal transparency are showing their impact in the United Arab Emirates as well. Unlike until recently, banks in the United Arab Emirates started to ask for the tax IDs of the home country of shareholders or beneficial owners, as well as their passport copies and other documents. Personal presence of […]
EBRD 2017 Annual Meeting and Business Forum in Cyprus PUBLISHED ON 14/03/2017
The EBRD (European Bank for Reconstruction and Development) is going to held its 26th Annual Meeting and business forum in Nicosia, Cyprus. The event will be held from 9 to 11 May 2017. The main theme of this year’s business forum is “Targeting Green and Inclusive Growth: Meeting Regional and Global Challenges” which will involve […]
Bank Account opening in Cyprus and in other EU countries PUBLISHED ON 10/03/2017
This article informs about necessary documents and information required for the opening of a bank account in Cyprus or elsewhere. Please note that this article provides information as per end of 2017/beginning of 2018. This article will be updated in July 2019. We often hear that some service providers like consultancy firms, corporate service providers, […]
Cyprus Companies: Important Changes for Back-to-Back Loans between Related Parties PUBLISHED ON 08/03/2017
Loans between related parties where a Cyprus Company is involved will now have to bear interest rates as per transfer pricing rules. The current practice of the minimum interest rate allowable by the Cyprus Tax Authorities on loans between related companies provided for an annual interest rate not lower than 0,35 %. It has been decided […]