MARILOU PAVLOU CHRISTODOULIDES LLC has now been approved as a Nominated Advisor (NOMAD) in listing companies in the Emerging Companies Market of Cyprus Stock Exchange.
We are proud to announce that we are officially authorised to act and assist as a Nominated Adviser (a “NOMAD”) to companies that wish to be listed and traded in the Emerging Companies Market (the “ECM”) of the Cyprus Stock Exchange (the “CSE”).
The ECM benefits from a simplified regulatory regime specifically designed for small and medium sized companies. It is considered as a Multilateral Trading Facility (MTF) according to Mifid II legislation and offers various advantages to companies...
On June 15th, 2018, and based on the decision numbered 81.292 and 84.068 dated 13/09/2016 and 09/01/2018, the following amendments to the scheme have been decided and approved by the Council of Ministers:
The program of Cyprus Citizenship by Investment programme will be renamed to “Cyprus Investment Programme”;
All applications for the Cyprus Investment Programme should be submitted on behalf of the applicant(s) by natural/legal persons whose name is included in the registry of certified service providers supervised by the newly created Supervisory and Control Committee;
All certified service providers should comply with the newly establi...
On 14th July 2017 the Cyprus parliament voted for a Cyprus tax law amendment namely the “60 day rule” which will co-exist with the already established
“183-day rule”. The “60 day rule” is a further effort of the Cypriot government to attract foreign investment to Cyprus and bolster Cyprus’ reputation as a European financial hub.
Under the “183 day rule”, an individual who spends at least 183 days a year in Cyprus is considered a Cyprus tax resident. The “60 day rule” aims to attract a significant number of individuals who do not qualify under the “183 day rule”, (investors, entrepreneurs, digital nomads, artists, sportsmen and other businessmen) who do...
On the 8th May 2018, the finance ministers of Luxembourg and Cyprus signed the Double Taxation Avoidance Agreement between the two countries. The new Agreement is expected to come into force as from 01/01/2018 with the aim to strengthen and expand the commercial ties between the two Member States.
The Agreement echoes all the required international standards as provided by the Base Erosion and Profit Shifting (“BEP”) recommendations in respect of the exchange of information, providing thus greater level of legal certainty and predictability.
The Agreement provides, inter alia, for the following:
Dividends: 0% withholding tax if there is at least 10%...
In preparation for the entry into force on 3 January 2018 of the European Securities and Markets Authority’s guidelines for the assessment of knowledge and competence, set out in its publication ESMA/2015/1886 dated 17 December 2015, the Cyprus Securities and Exchange Commission (CySEC) has published circular C-181 assisting Cyprus Investment Firm (“CIFs”) to meet their obligation to act in the best interests of their client when providing information
n concerning the services and instruments offered.
Circular 181 (“the Circular”) applies to anyone, including employees and tied agents of CIFs, who communicates with CIF clients (existing and potential cli...
Law 97(Ι) of 2016, which was published in the official gazette on 23 September 2016, amends the Companies Law Cap 113 in order to comply with the EU Accounting Directive (2013/34/EU) and also results in amendments to the Auditors and Statutory Audits of Annual and Consolidated Accounts Laws of 2009 and 2013 regarding the new management report.
One of the most substantial changes is the abolition of the exemption from producing consolidated financial statements that was formerly only available to small or dormant companies.
Furthermore, now there are additional changes in connection with the exemptions from specific accounting disclosure regu...