Establishment of the Ultimate Beneficial Owner (UBO) Register in Cyprus

Cyprus insights, Newsletter, Taxation

The requirement for the establishment of the Ultimate Beneficial Owner (UBO) Register. The requirement for the establishment of the Ultimate Beneficial Owner (UBO) Register, originally emanated from the 4th Anti-Money Laundering Directive (EU) 2015/894), which was transposed into national legislation on the 3rd day of April 2018 through the Prevention and Suppression of Money Laundering and Terrorist…

The Use of Cyprus Alternative Investment Funds in Family Office Structures

Cyprus insights, Newsletter, Taxation

The Use of Cyprus Alternative Investment Funds in Family Office Structures The Alternative Investment Fund (“AIF”) sector in Cyprus has continued its recent growth with the latest figures (for the quarter ended 31 December 2020), released by the Cyprus Securities & Exchange Commission, showing total assets under management reaching EUR 8.58 billion (recording a 3.8%…

Why set up a Fund in Cyprus?

Cyprus insights, Newsletter, Taxation

The consolidation of the current Cyprus legislative framework in respect of investment funds has contributed in Cyprus being considered as a European and International Investment Funds Hub accommodating sophisticated fund structures as well as fund managers. Being one of the first EU member states to transpose the Alternative Investment Fund Managers Directive into national legislation…

Cyprus Tax News

Cyprus insights, Newsletter, Taxation

Cyprus Tax News Netherlands tax treaty signed and published on 1 June 2021, Cyprus signed a tax treaty for the avoidance of double taxation (the “treaty”) with the Netherlands, which was published in the Official Gazette on 4 June 2021, the date of ratification by Cyprus. The treaty will enter into force after the necessary…

Taxation of international executives

Taxation

For mobile international executives, tax can be a major consideration and for human resource professionals, the need to provide answers to questions relating to tax can be pressing.KPMG member firms have produced a series of summaries titled Taxation of International Executives. These summaries cover relevant income tax and social security rates, together with the key…