Cyprus is an island unique in its location, tax laws, climate and natural resources. Living in Cyprus is good, owning attractive investment real estate and business in its territory is even better.
The easy tax system and investment citizenship programs annually attract businessmen and tourists from all over the world who want to get an EU passport, invest in real estate, and optimize expenses so that the profits of their enterprises and real estate are not unduly taxed.
In March 2014, the Government of Cyprus adopted an amendment to the law, which allows foreign investors to obtain citizenship of Cyprus (EU) and a Cypriot passport through a special state program.
The essence of the program is that the investor invests in the choice of real estate, government bonds of Cyprus or places money on a bank deposit and as a result receives the citizenship of Cyprus for 6 months for the whole family, including the parents of the investor.
2018 promises Cypriots and citizens of other states who have registered their enterprises in the territory of the Republic of Cyprus, living or owning real estate here, good prospects in terms of taxation and investment programs. Taxes in Cyprus provide a lot of benefits and withstand any competition, and the real estate market remains attractive to both Russian citizens and investors from other countries.
In February 2018, the consulting company Knight Frank published a report on popular directions for buying foreign real estate among Russians. Over the past 2 years, interest in Cyprus real estate has quadrupled.
The continuous battle of the European Commission against money laundering and terrorist financing within the EU has been widely known over the past years. In fact, back in May 2020, an Action Plan had been set in place for the proper implementation of the AML/CTF framework, by reinforcing the legal framework and by proposing back in July 2021 the introduction of a new authority for the…
On September 12th of 2018, The European Parliament along with the European Council established a European Travel Information and Authorisation System, hereinafter referred to as ETIAS, by introducing Regulation (EU) 2018/1240 as well as Regulation (EU) 2018/1241 amending Regulation (EU) 2016/794 for the purpose of establishing ETIAS. Such measures were taken in order to provide a stronger security control at the boarders and ensure safety within…
In times when the term “personal data” has been widespread both in the media, as well as the corporate world, perhaps it might be a brilliant opportunity to remember what it actually means in legal terms, and why is it so important. Pursuant to the Charter of Fundamental Rights of the European Union in its’ article 8(1) and the Treaty on the Functioning of the…
Back in September of 2020, the European Commission had presented a proposal for a Regulation on Markets in Crypto-Assets, otherwise referred to as MiCA, in addition to an amendment to the Directive (EU) 2019/1937. The foundations of such initiative find their source in Article 114 of the Treaty on the Functioning of the European Union (TFEU), according to which the EU is competent in suggesting provisions…