Christos P. Kinanis

Mar 2

The Third Anti-Tax Avoidance Directive (ATAD 3) — The tombstone of shell entities

A. INTRODUCTION The European Commission on the 22nd of December 2021 published a legislative proposal for a Directive to be issued, the Third Anti-Tax Avoidance Directive, known as “ATAD 3”, which sets forth rules to prevent the misuse of shell companies for tax purposes. The Directive should be adopted early 2022 by…

Taxes

17 min read

The Third Anti-Tax Avoidance Directive (ATAD 3) — The tombstone of shell entities

Jul 28, 2021

CRYPTOASSET SERVICE PROVIDERS

REGISTRATION PROCEDURE AND REQUIREMENTS On the 25th of June 2021, the Cyprus Securities and Exchange Commission (“CySEC”) published the Directive on the Register of Cryptoasset Service Providers (“the Directive”). …

Crypto

5 min read

Feb 23, 2021

CYPRUS IMPLEMENTS THE 5TH AML DIRECTIVE

Key developments and the introduction of cryptoassets service providers A. INTRODUCTION The Cyprus House of Representatives on 18.02.2021 …

Compliance

8 min read

Feb 15, 2021

The Management and Control Test — Taxation of Cyprus and Foreign Companies

I. THE LAW For taxation purposes, companies and individuals, are categorised as: (a) residents or (b) non — residents. A company or an individual are taxed in Cyprus only if they are residents of Cyprus according to the meaning of “resident” as defined in the taxation laws. The tax system considers a company…

Management

32 min read

Jul 27, 2020

THE CYPRUS INTERNATIONAL TRUST - A PRACTITIONER’S APPROACH

A. GENERAL I. THE LAWS APPLICABLE TO TRUSTS — GENERAL PROVISIONS The Laws The legal framework governing trusts in Cyprus is based on The Trustees Law, Cap. …

Trust

41 min read

Feb 7, 2020

SECURITY TOKEN OFFERINGS: EQUITY OR DEBT? HOW FINANCIAL STATEMENTS ARE AFFECTED

A. INTRODUCTION Security Token Offerings (STO) is the new method of fundraising. STO follow a similar structure to ICO. They involve the sale of crypto tokens which are built on a blockchain and are backed by something of value (i.e. …

Blockchain

13 min read

SECURITY TOKEN OFFERINGS: EQUITY OR DEBT?
HOW FINANCIAL STATEMENTS ARE AFFECTED

Sep 10, 2019

THE FULL DISCLOSURE OF EVERYTHING TO EVERYBODY DOCTRINE –THE DECLINE OF THE MANAGEMENT AND CONTROL TEST and THE EU DIRECTIVE 2017/828

INTRODUCTION The law as to Listed Companies will undergo significant changes upon the implementation of the European Union Directive 2017/828, (hereinafter to referred to as “the Directive”). As per the Directive, the shareholders of Listed Companies, upon relevant request by the Listed Company they hold shares, will be fully disclosed…

European Union

7 min read

THE FULL DISCLOSURE OF EVERYTHING TO EVERYBODY DOCTRINE –THE DECLINE OF THE MANAGEMENT AND CONTROL…

Apr 30, 2019

FILM INDUSTRY IN CYPRUS AND ITS FUTURE — THE CYPRUS FILM SCHEME

A. INTRODUCTION The Cyprus Film Scheme (the “Scheme”) which was drafted in accordance with European regulations, the objective of which is to promote the European culture and to provide investment aid for small and middle-sized enterprises (the “SMEs”), was approved in September 2017 as a means for promoting and advancing the film…

Film

9 min read

Apr 9, 2019

CYPRUS ALTERNATIVE INVESTMENT FUNDS

OVERVIEW OF THE REGISTERED ALTERNATIVE INVESTMENT FUND (RAIF) Contents Page A. INTRODUCTION B. WHO CAN BENEFIT FROM THE SET UP OF A FUND C. WHY SET UP A FUND IN CYPRUS D. TYPES OF ALTERNATIVE INVESTMENT FUNDS IN CYPRUS E. THE REGISTERED ALTERNATIVE INVESTMENT FUND (RAIF) 1. Authorisation Process 2. Legal Forms 3. Fund Manager 4. Depositary Requirements 5. Investment…

Fund

11 min read

Dec 14, 2018

A. From ICOs to STOs

The term ICO has been at the epicentre of discussions in the FinTech industry, being the main method of fundraising used by startup companies to develop innovative ideas on the Blockchain technology or other applications using Distributed Ledger Technology (“DLT”). Although bringing a revolutionary change in traditional means of financing…

Blockchain

8 min read