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Banking Law, Compliance, Financial Services, Government

Lebanese Banking Crisis- Closure of Lebanese Branches in Cyprus- Are You Affected?

May 25, 2022May 25, 2022Michalis C. Zambartasbanking crisis, Central Bank Cyprus, Central Bank of Lebanon, credits, Cyprus, deposit guarantee, Lebanese, loans

According to the recent reports, following the decision of the Central Bank of Lebanon, the Lebanese banks will be closing their branches in Cyprus. Lebanon is going through a severe
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Financial Services Law
Banking Law, Compliance, Financial Services Law, Funds, International Tax

Cyprus Funds Industry Growing Rapidly

November 27, 2020November 30, 2020Michalis C. Zambartas#compliance, CIF, Cyprus, Cyprus Funds, financialservices, funds

The 6th International Funds Summit organized by Invest Cyprus and the Cyprus Investment Funds Association (CIFA) was held on November 16-17, 2020 and gathered more than 500 delegates. A large
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Euro Coins Debt Recovery
Banking Law, Government of Cyprus

DBRS Morningstar confirmed Cyprus’s long term credit rating to BBB

November 17, 2020November 17, 2020Michalis C. Zambartascredit rating, Cyprus, economy

On November 13th, Friday, DBRS Morningstar- Global Credit Rating Agency, published and confirmed the Republic of Cyprus’s Long-Term Foreign and Local Currency – Issuer Ratings at BBB (low). At the
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Brexit
Banking Law, Company Law, Compliance, International Tax, Tax Law

Cyprus – A Possible New Home for the UK Financial Services Industry

October 7, 2020October 7, 2020Michalis C. ZambartasBrexit, Cyprus, ESMA, FCA, financialservices, relocate, UK1 Comment

Despite the fact that the United Kingdom has its own regulatory authorities such as the Financial Conduct Authority (FCA), the core regulation of the financial industry in the UK is
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Banking Law, Government

Fitch confirms Cyprus at ‘BBB-‘; Outlook Stable

October 5, 2020October 5, 2020Michalis C. ZambartasCyprus, economy, fitch, rating

Fitch Rating Agency confirmed Cyprus’s Long-Term Foreign-Currency Issuer Default Rating (“IDR”) at ‘BBB-‘ with a Stable Outlook. According to Fitch one of the key rating drivers is that the COVID-19
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Cyprus CbC Reporting
Banking Law, Government, International Tax, Tax Law

Clarification Bilateral Agreement between the Republic of Cyprus and the United States

September 18, 2020September 18, 2020Michalis C. Zambartasagreement, Country by Country Reporting, Cyprus, USA

On September 4th, 2020, the Cyprus Tax Department has published a clarification in relation to the bilateral agreement between the Republic of Cyprus and the United States. The bilateral Competent
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Banking Law, Company Law

Update – EU Negative Interest Rate Policy in Cyprus

January 27, 2020January 27, 2020Michalis C. ZambartasBank of Cyprus, Cyprus, Euro deposit, liquidity fee bank of cyprus, Negative interest rate

Further to our recent news provided on January 10 on the EU Negative Interest Rate in Cyprus; Bank of Cyprus Plc recently announced that it will charge fees on deposit
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Banking Law, Company Law

EU Negative Interest Rate Policy in Cyprus

January 10, 2020January 27, 2020Michalis C. ZambartasCorporate account holders, Cyprus, EU Negative Interest Rate, Hellenic Bank

As of March 3 2020, Hellenic Bank Plc will start charging negative interest rates on deposits exceeding EURO 100,000. In accordance with the Cyprus News Agency these will only be
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Recent Posts

  • Cyprus Changing its Regime on Reduced VAT for First Homes: an Update
  • Cyprus Civil Registry and Migration Department Terminates the Electronic Booking Platform for Appointments
  • Cyprus Introduces a New Computerised Unified Tax Management System “Tax for All”
  • British Virgin Islands, Costa Rica, Marshall Islands and Russia Included in the EU List of Non-Cooperative Jurisdictions for Tax Purposes
  • Deadline for the Payment of Annual Levy for 2022 for Cypriot Companies

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