NFTs: Business Trends & Legal Uncertainties
The future of NFTs seems bright and promising. NFTs are evolving into an asset class that, at its core, serves as the world’s greatest digital evidence of ownership. As NFTs grow, their role as digital proofs of ownership will provide innovative and lucrative use...
Green Funds: Business Trends & Regulatory Developments
A growing number and class of investors is shifting towards sustainable and ESG-compliant markets and products. Environmental and social considerations are assuming a growing importance, with the EU focusing its efforts to the greening of the economies of its Member...
New 50% and 20% income tax exemption on employment income to attract foreign investors and employees
On 26 July 2022, the new amended articles 8(21) and 8(23) of the Income Tax Law were published in the Gazette aiming to attract foreign investors and high-profile foreign employees. Similarly with the 20% exemption, it is not required for the individual to become a...
Permanent Residency in Cyprus
Permanent Residency Program (PR) – Cyprus Cyprus is a small EU member state country but the third largest Island in the Mediterranean Sea with a population almost one million. Whereas Greek is the official language, English is widely spoken and the language in which...
Cryptoassets & Banking: a Cyprus Law perspective
Cryptoassets & Banking: a Cyprus Law perspective The banking sector is showing an incremental appreciation of the use of cryptoassets and their correlation with banks' traditional retail functions. The existing legal framework is maturing to the regulation of...
Cyprus introduces transfer pricing rules and documentation requirements
Cyprus introduces transfer pricing rules and documentation requirements On 30 June 2022, the Cyprus Parliament enacted amendments to the Income Tax Law and the Assessment and Collection of Taxes Law in relation to transfer pricing regulations in accordance with...
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