Restriction on Employment for Third Country Nationals in Cyprus

Based on the Aliens and Immigration Regulation 14, the third – country nationals, who obtain the temporary residential permit in the Republic of Cyprus as visitors, are not allowed to engage in any employment and business activity. Moreover, as from 01/01/2023, The Department of Register of Companies of Cyprus may disclose information about third country […]

New EU list of non-cooperative jurisdictions for tax purposes

By the virtue of the European Council’s decision on 14 February 2023, the EU list of non – cooperative jurisdictions for tax purposes has been revised and updated by including the following countries: Russia, Costa Rica, British Virgin Islands and Marshall Islands as the “black listed” jurisdictions. This means that the countries failed to comply […]

Electronic signature and its legal recognition in Cyprus

For all our clients, who are not able to be physically presented and sign the document, which requires a specific form and/or when the identity of the person should be identified, the qualified electronic signature is the best and effective alternative. By virtue of the Regulation (EU) No 910/2014 incorporated into Cyprus national legal system through […]

Achieving Substance in Cyprus

substance cyprus

Introduction The intensifying initiatives in global tax reforms like the Base Erosion and Profit Shifting (BEPS) initiative created by Organisation for Economic Cooperation and Development’s (OECD) along with many of localized tax reform efforts, create a negative impact for multinational businesses. In addition, it is more popular that the countries implement Controlled Foreign Company (CFC) […]

London Office Opening – Announcement

  At IBCCS we are happy to announce the opening of our London office in order to enhance our presence within the region and further augment our services for clients in one of the world’s most influential financial centres, to offer our professional services which include: Registration and management of companies and partnerships; Legal & […]

Types of entities available offshore

In typical offshore jurisdiction, the types of entities available often include the same entities (like various types of companies and partnerships) which are available elsewhere. They may however have different characteristics & regulations and may be treated differently by local law than the same entities in other countries. While companies are the most popular vehicles […]