A double tax treaty signed by Cyprus and Luxembourg
The Republic of Cyprus and Luxembourg signed a double tax treaty on the 8th May 2017.
The Treaty provides the following withholding tax rates:
- 0% withholding tax if there is at least 10% participation by a tax resident company and if this is not the case then 5%;
- 0% withholding tax on interest;
- 0% withholding tax on royalties, if the recipient of the royalties is the beneficial owner of the income.
Cyprus Government Approves Start-Ups Visa Scheme to attract foreign investors
The Cabinet of Minsters approved on the 15th of February 2017 a scheme aiming to attract foreign investment to Cyprus through the granting of incentives to third-country innovative start-ups.
The scheme will be applicable to third-country nationals with start-up capital of at least €50,000, undergraduate-level education, and who are fluent either in Greek or English, to set up their headquarters and their tax residence in Cyprus, provided their proposed business is certifiably innovative. The intention is to offer 150 two-year visas to be granted to eligible investors with the condition however that the business takes off during a specified period of time.
For more information please visit http://www.goldnews.com.cy/en/companies/cabinet-approves-start-up-scheme-to-attract-foreign-investment
First Legal 500 Ranking for CA Advocates
Our law firm has successfully qualified for the first time to receive a Legal 500 ranking for the first time, under the category of Cyprus: Commercial, Corporate and M&A.
The Legal 500 rankings result from an independent review of researchers forming a special purpose committee by way of obtaining feedback from 250,000 in-house peers and by obtaining access to law firms’ deals and confidential matters, which are subsequently, independently assessed by the said researchers. The only way a law firm can get into the Legal 500 ranking tables and commentary is on merit and it is not possible for a firm to buy its way into the editorial. More relevant information can be found at http://www.legal500.com/c/cyprus/commercial-corporate-and-manda.
As per the editorial of the Legal 500 publication which is based on clients’ comments, “CA Advocates (Pourgoura & Aspri LLC) delivers ‘high quality and clear advice’. Alexia Aspri and Celia Pourgoura are ‘very professional’. The team ‘manages to meet extremely tight deadlines in a cost-effective way’.”
More information about the firm and its services may be obtained through its website at http://www.ca-advocates.com
Cypriot Passport ranked amongst the strongest in the world
According to the updated Passport Index, Cyprus gets a Passport Power Rank of 13, and an Individual Power Rank of 36 globally. This is of great importance for Cyprus since the enforcement of the new improved citizenship scheme, in November 2016, with main goal to attract foreign investors to Cyprus.
Please read more at: http://cyprus-mail.com/2016/12/28/cypriot-passport-ranks-13th-global-power-scale
The Cyprus Citizenship Investment Scheme
A new improved Cyprus investment scheme came into force on the 1st of November 2016
The most important changes of the revised Scheme are the abolishment of the provision for collective investment of €12 million which is being replaced by an individual investment of €2 million and the purchase of a residence worth at least €500,000.
The new scheme has also abolished the ability to apply for the citizenship through bank deposits worth €5 million, through impaired deposits due to the measures implemented after the 15th March 2013 and through the purchase of bonds worth €2,5 million, which were applicable to the previous scheme.
Caribbean Citizenship programs
Our Law Firm is in a position, through its reliable agent in the Caribbean, to assist clients to apply for the economic citizenship program of Saint Kitts and Nevis, Grenada, Antigua, Dominica and Barbuda.
Some interesting factors about the Caribbean Citizenship programs are outlined below:
1) The benefit of the St Kitts and Nevis program is the quantity of visa free countries the passport of Federation of St Kitts and Nevis gives.
2) The most affordable program is in the Commonwealth of Dominica.
3) The fastest option is Grenada with 2-3 months of processing term.
4) The Citizenship program of Antigua and Barbuda provides the biggest quantity of visa – free countries, including Canada and EU.
Please feel free to visit our website at http://www.ca-advocates.com/index.php/news/item/371-caribbean-citizenship-by-investment for more information on the above mentioned programs.
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The blog contains a number of articles about offshore jurisdictions and other international jurisdictions with the most favorable tax regime, i.e. Nevis, Panama, Cyprus, the British Virgin Islands, Hong Kong, Singapore, Andorra, Latvia, etc.
The authors of the blog are numerous offshore industry professionals who work closely with Offshorewealth.info and actively participate frequently in seminars on tax mitigation, business structuring, opportunities on acquisition of economic citizenship and other important topics.
We can carry on talking about Offshorewealth.info and what it has to offer, but the best way to get acquainted with the most advanced and relevant blog of offshore industry available in the Russian language is to visit it – at www.offshorewealth.info. Seeing once is better than hearing twice!