White November Launches Newly Designed WebsiteWhite November is happy to announce the launch of our newly designed website.We would like to invite visitors to explore the new design, with its improved navigation, more detailed information about our services, news and events updates, and better functionality overall. The site is fully compatible across all devices, and deskto
Reside in Cyprus for 60 days and obtain the Cyprus Tax ResidencyThe Cyprus Government in an effort to boost the competitiveness of the newly launched Cyprus Non-Domicile Scheme has recently proceeded to also amend the criteria that need to be satisfied by any individual who wishes to become a Cyprus tax resident.
Reforms to Malta’s Gaming Legal Framework proposedThe Malta Gaming Authority Publishes a White Paper Proposing Major Reforms to Malta’s Gaming Legal Framework. On the 12th of July 2017 Malta Gaming Authority (MGA) has published White Paper proposing reforms to Malta’s Gaming Legal Framework.
Changes to the Malta Residence and Visa ProgrammeThere were changes to the Malta Residence and Visa Programme as per Legal Notice 189 of 2017 as below:
Cyprus signs Multilateral Convention to Implement Tax TreatyOn the 7th of June 2017 Cyprus signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“MLI”). The MLI will implement tax treaty measures in order to reduce opportunities for tax avoidance by multinational companies.
Cyprus Tax Treaty with LuxembourgThe treaty, based on the OECD model treaty, provides for the following maximum withholding tax rates on dividends, interest and royalty payments:
Cyprus – Commercial Court to be set up and operational from 2018Mr. Ionas Nicolaou, Minister of Justice and Members of Supreme Court had decided to set up a Commercial Court from the beginning of 2018.
Cyprus Tax Treaty with BarbadosOn the 3rd of May 2017 Cyprus signed double tax treaty with Barbados.
Double Tax Treaty between Cyprus and BahrainThe Double Tax Treaty (DDT) between The Republic of Cyprus and the Kingdom of Bahrain entered into force in January 2017. The DTT is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and Capital with the aim to help attract foreign direct investment to Cyprus.
Ratification of double taxation treaty between Ukraine and MaltaOn 13th April 2017, the Parliament of Ukraine approved the Convention and Protocol between Ukraine and Malta on “Avoidance of Double taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income”, signed in Kyiv on 4th September 2013.
Cyprus “Startup Visa”The programme of Cypriot “Startup Visa” (Startup Permit Scheme) was introduced in February 2017 and will operate till February 2019. The 2 year pilot programme shall attract talented entrepreneurs from third countries (outside EU and EEA). The programme consist of two parts: individual and team.
“Paperoni” Tax and new guidelines on setting a residency in ItalyTowards the end of the sixties one very famous Italian performer, Domenico Modugno, was singing ‘Meraviglioso’, which was saying “[…] but look around you/ gifts that have made you / They have invented the sea / You say ‘I have nothing’/ It seems nothing the sun?
New Guidelines for Yacht Registration in MaltaAs from the 1st January 2017 The Authority for Transport Malta introduced new provision that allows yachts, which are registered for pleasure use, to carry more than 12 people (excluding the crew) without being compulsively submitted to the Convection for the Safety of Life at Sea (SOLAS) or the Passenger Yacht Code (PYC).
Tax Changes of loans and profit margins in CyprusThe Cyprus Tax Authority decided to change the current tax regime in relation to profit margins and loans between related parties.
Change of the limited partnership legislation for private investment funds in UKIn June 2016, the UK HM Treasury concluded the consultations on the proposal to change the limited partnership legislation for private investment funds. The new regime is fully operational and ready to be applied.