Shell Companies per Central Bank of Cyprus

Shell Companies per Central Bank of Cyprus

Shell Companies per Central Bank of Cyprus On the 2nd of November 2018, the Central Bank of Cyprus issued a Circular Letter to its members with reference number BS 6020 addressed to the Money Laundering Compliance Officers or all Credit, Payment and E-Money...
Annual Levy Abolition discussed in parliament

Annual Levy Abolition discussed in parliament

Abolition of Annual Levy The parliamentary committee of Energy, Trade, Industry and Tourism shall meet on Tuesday the 17th of September 2019 to discuss, among others, the abolition of the Annual Levy of Euro 350 applicable to every Cyprus company registered with the...
Cyprus Alternative Financing – Corporate Bonds

Cyprus Alternative Financing – Corporate Bonds

Before relying on anything in this Blog, please read the disclaimer 50% of all Cypriot business loans are non-performing (delayed greater than 90 days) in accordance with the KPMG report. Cypriot SMEs are severely restricted from receiving bank financing. Perhaps...
OFAC Sanctions in Cyprus

OFAC Sanctions in Cyprus

This publication is made subject to the disclaimer The Cyprus Securities and Exchange Commission recently issued Circulars C-337 reminding regulated entities of the existence of the Specially Designated Nationals List (“SDN List”) of the Office of Foreign...