New regulations regarding AML (June 2016)

The Central Bank of Cyprus issued an amendment to the Directive regarding money laundering and terrorist financing following the international trend towards stricter AML regulation of the banking services industry. The main provisions of the amendment are: Enhanced “Know-Your-Client” [...]

Property sales increase by 24% (June 2016)

ccording to the Department of Lands and Surveys the total number of property transactions during the first quarter of 2016 rose by 24% compared to the first quarter of 2015. The increase is attributed to the improvement of the [...]

Tax treaty with Latvia (May 2016)

On 24 May 2016 a tax treaty was signed between Cyprus and Latvia. The treaty provisions will take effect on the 1st of January following the exchange of notification of ratification between the two states. The most significant provisions of [...]

Tax treaty with Bahrain (April 2016)

The tax treaty between Cyprus and Bahrain entered into force and its provisions will take effect on the 1st January 2017. The most significant provisions of the treaty are as follows: Dividends, interest and royalties: These will only be [...]