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Cyprus Investment Program Discontinued
On October 13th, a decision was taken by the Council of Ministers of Cyprus to terminate the existing Cyprus Investment Program. The current program, which has been running since 2013 is set to be discontinued on November 1st. Investors will be able to submit their applications by 31st October 2020 and all pending applications are...
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Listing on the Emerging Companies Market of the CSE
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...
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Cyprus Fast Track Business Activation
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...
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Cyprus Urban Planning and Building Permits in less than 20 days
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...
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Cyprus Investment Program
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...
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Greek Tax Alert
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...
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Cyprus securities and exchange commission
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...
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If you have been thinking about retiring abroad, you have surely been considering what your dream destination would look like. A warm weather, 65 blue flag beaches, low crime rates, a general health system, high quality infrastructure and services are just a glimpse of what Cyprus has to offer to pensioners. All these, matched with...
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The Greek Parliament has implemented the Tax Bill 4646/12.12.2019, introducing significant amendments related to the Greek Tax system.  By virtue of this Law, triggered are segments of the Greek Taxation, significant for both individuals and legal persons and amended are few Legal Acts, namely the Income Tax Code (ITC), the Tax Procedures Code (TPC), the...
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As the situation with COVID-19 is evolving rapidly, please be informed that Fidescorp remains operational and continue to serve our clients and assist them in this difficult period. Our priority is to keep our people as well as your people safe so we have taken a number of measures to reflect the developing circumstances: •...
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