On 17th October 2024, the Cyprus Securities and Exchange Commission (CySEC) announced that as of that date, it would no longer accept new applications for the registration of Crypto-Asset Service Providers (CASPs) in view of Cyprus’ preparations for the MICAR which is expected to become applicable to CASPs on the 30th of December 2024. With...Read More

Chancellor Rachel Reeves presented the Autumn Budget 2024, marking a pivotal step for the UK’s economic policy under Labour’s leadership. The budget places a strong emphasis on fiscal responsibility, social investment, housing support, and tax reform, setting a strategy to reduce deficits and support economic growth. This summary outlines the key elements of the budget,...Read More

Corporate Sustainability Due Diligence Directive On 24 May 2024, the European Council formally adopted the Corporate Sustainability Due Diligence Directive (the “CSDDD”). The CSDDD must be transposed by Member States into national law by 26 July 2026 and these new rules will become applicable to companies according to the timeline set out in Article 37...Read More

Electronic Money Institutions enable the issuance of electronic money and offering innovative payment solutions. In Cyprus, EMIs are regulated entities that provide services such as issuing funds, payment transactions, online wallet management and electronic bank transfers. The applicable Law and compliance criteria: The governing authority of the EMIs in the Republic of Cyprus is the...Read More

Trademark registration is vital for businesses to protect their brand identity and prevent unauthorized use of their logos, names, and slogans. However, the process and scope of protection can vary depending on the type of registration pursued. Here’s a brief overview of the three main types: national, European, and international trademark registration. National Trademark Registration:...Read More

The Department of the Registrar of Companies and Intellectual Property has issued an announcement regarding the Companies (Amendment) Law 2024, L.18(I)/2024, published in the Official Gazette of the Republic on March 5, 2024 (the “Law”). In accordance with this Law, the maximum financial penalty for late submission of Annual Reports, starting from the year 2021,...Read More

The Cyprus IP Regime (“Regime”) makes Cyprus an attractive location for the set-up of an IP holding and development company, as it offers efficient tax rate as well as legal protection afforded by EU Member States and by the signatories of all major IP treaties and protocols. In October 2016, the Cyprus House of Representatives...Read More

Effective April 6, 2025, the UK tax landscape is set to undergo a significant transformation with the abolition of the remittance basis of taxation. This change marks a shift towards a more streamlined and structured approach to taxation (significant increase of tax burden in the UK), particularly for UK resident individuals who are not domiciled...Read More

The Ministry of Interior of the Republic of Cyprus has introduced a fresh set of criteria for individuals seeking naturalization as citizens of Cyprus. These amended criteria outline the prerequisites for eligibility to apply for Cypriot citizenship. According to the updated regulations, prospective naturalized citizens must have maintained legal and continuous residence for a period...Read More

On February 21, 2024, the President of the Republic of Cyprus made public the Council of Ministers’ decision to abolish the compulsory annual levy of €350, previously mandated for all companies registered in Cyprus with the Registrar of Companies. The imposition of this annual levy has been a legal requirement for a period spanning 12...Read More