Cyprus: A Headquartering Hub for Tech Companies

Cyprus Relocation-Tech companies headquartering hub

Over the past two decades, Cyprus has developed as a headquartering hub, with global organizations choosing the country as the home for their major operations. Companies from the USA, Russia, Ukraine, and Israel have already relocated their headquarters in Cyprus, taking advantage of the island’s cutting-edge regulatory regime, tax benefits, and highly skilled workforce. Cyprus…

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Register of Ultimate Beneficial Owners (“UBOs”) Updates

Register of Ultimate Beneficial Owners (“UBOs”) Updates

The Registrar of Companies and Intellectual Property Department has recently conducted an information campaign. The campaign was inviting all legal entities in the Registrar of Companies, to disclose their UBOs in the UBOs Register. The deadline to complete this procedure is the 12 March 2022. At CX Financia we get lot of enquiries in relation…

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How to take advantage of the ‘Fast-track Business Activation Mechanism’ in Cyprus

Fast-track Business Activation Mechanism

The Cyprus scheme for ‘Fast-track Business Activation Mechanism’ (the “Scheme”) was adopted on 3 September 2020 by the Council of Ministers and aims to facilitate the establishment and re-domiciliation of businesses from third  (non-EU) countries to Cyprus. The scheme, which operates  under the Ministry of Energy, Commerce and Industry headed by Mrs Natasa Pilidou, was…

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Establishing Economic Substance in Cyprus

Establishing Economic Substance in Cyprus

In our last article on Economic Substance, we discussed the role of substance in tax planning and how this has become increasingly significant in the global economy. With many companies establishing a presence in Cyprus to benefit from the island’s favourable double taxation treaties, it is of paramount importance to demonstrate that management and control…

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Creating a Strong AML Compliance Culture

Strong AML Compliance Culture

In its efforts to remain in full compliance with the European framework for tackling money laundering and terrorist financing, the Republic of Cyprus is constantly implementing changes to its local laws, in order to ensure alignment with EU Directives and Regulations. One of the fundamental pillars of the Cypriot economy is the financial services and…

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Why choose Cyprus for Innovation & start- ups

Why choose Cyprus for Innovation & start- ups

The Future of Business: Creating a Start-up Ecosystem in Cyprus Cyprus’s strategic position, as well as its valuable historical and geopolitical background, have helped make the island an attractive international business hub. For decades, Cyprus has enticed foreign businesses and investors with incentives such as one of the lowest corporate tax rates in the E.U.,…

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The ever-growing need for Anti-Money Laundering Talent

The ever-growing need for Anti-Money Laundering Talent

“The kings of Wall Street used to be the traders and investment bankers who said yes to big deals and big trades, but today’s power brokers increasingly are the compliance officers who quite often say no to risky proposals.” NEW YORK, Oct. 14 (Thompson Reuters Accelus). Anti-Money Laundering (AML) compliance officers are a hot commodity…

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