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Foreign Investor’s Naturalisation Scheme: Alternative Investment Funds (AIFs): The Permanent Secretary of the Ministry of Finance of the Republic of Cyprus has clarified that AlFs Funds established in the Republic of Cyprus and licensed by the CySEC investing exclusively in Cyprus, in investments eligible for the naturalization program are considered as approved financial investment for the foreign investors naturalization scheme. Read more
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Forex sector continues to grow: Recent insights provided by GRS Global Recruitment Solutions bring to light that Cyprus’ foreign exchange (forex) sector is doing well and is one of the key growing sectors in Cyprus.
By adding retail forex as a regulated financial product under the Markets in Financial Instruments Directive (MiFID) (Directive 2004/39/EC), the Cyprus Regulator, the Cyprus Securities and Exchange Commission (CySEC) has established Cyprus the second EU Member State to do so in Europe, following the footsteps of the FCA in the UK. Read more
Cyprus and Ukraine: Double Tax Treaty Update: Following the signing of a protocol amending the double tax treaty between Ukraine and Cyprus on 20 December 2015 (replacing the old Cyprus – USSR treaty), we present an update on the applicable provisions of the treaty.
It is also worth noting that Cyprus has been granted the most favoured nation provision, stipulating that in the case where Ukraine, in future, enters into Double Tax Agreements (DTA) with other countries under which the provisions are more favourable in terms of dividends, interest, royalties and capital gains than those provided in the Cyprus – Ukraine DTA, will be amended to incorporate these more favourable rates and provisions. Read more
IP Box Alignment with the OECD’s BEPS Action 5 conclusions announced: Cyprus' Ministry of Finance (MoF) announced on 30 December 2015 proposed amendments to the current Cyprus Intellectual Property (IP) Box in order to introduce a new IP Box (as from 1 July 2016), in order to be fully aligned with the conclusions of the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) Action 5.
If you wish to take advantage of the prevailing Cyprus IP Regime you can do so by 30 June 2016. For more information and a complimentary consultation please contact our director, Mr Savvas Shiatis at SShiatis@oneworldweb.net.
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Cyprus and Latvia Sign Tax Treaty: On 25 May 2016, Cyprus and Latvia signed the Treaty for the Avoidance of Double Taxation on Income in Brussels. The treaty was signed on behalf of the Republic of Cyprus by the Minister of Finance, Harris Georgiades and on behalf of the Republic of Latvia by the Minister of Economics, Dana Reizniece-Ozola. According to an official statement, the treaty will contribute to the further developments of the trade and economic relations between the two countries. Read more
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Oneworld Collaboration with RALLITON: We are pleased to announce our co-operation with RALLITON - an award winning provider of cloud and data center infrastructure solutions. RALLITON has become the leading cloud solutions provider in Cyprus and the region, focusing on the provision of hybrid cloud solutions.
Established in 2011, RALLITON is a Cyprus based and award winning Microsoft country partner of the year and Microsoft Gold Partner. Ralliton is specializing in IT solutions, in the areas of Cloud, Virtualization, Storage and Advanced Infrastructure solutions.
Together we will be committed to providing comprehensive solutions and services to businesses and focused strategic consulting services. Read more
For more information visit Ralliton's website www.ralliton.com
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Grenada - The Caribbean's most family friendly CIP
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There are currently two programmes available to qualify for Citizenship by Investment: either through a contribution/donation to the National Transformation Fund (NTF) or by acquiring government approved real estate.
The English-speaking nation of Grenada launched its Citizenship by Investment Programme in August 2013 when the Grenadian Parliament passed Act No 15 of 2013, enabling persons to acquire permanent residence and citizenship of Grenada by registration following investment in Grenada. Both programmes offer lifetime citizenships which can also be passed on to descendants. Read more
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DONATION OPTION
Official Entity: National Transformation Fund
Donation Amount: US$200.000 and includes main applicant + spouse + 2 children
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REAL ESTATE OPTION
Investment Minimum: US$350.000
Real Estate Holding Period: 3 years
Legal and Escrow: US$12.000
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Government Processing Fees
Investor (main applicant) US$50.000 / Spouse: US$0
Dependents: US$25.000 per dependent after first three (3) dependents.
To find out more about Grenada’s citizenship by Investment Program and for a complimentary consultation please contact Ms Daria Ostapengo at dostapengo@oneworldweb.net
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UAE New Commercial Companies Law amendments: The New UAE Commercial Companies Law (CCL) (Federal Law No.2 of 2015) that was published in the Official Gazette on 31 March 2015 replaced the existing commercial companies law (UAE Federal Law No.8 of 1984) and, under its provisions, all companies must comply with the amendments by 30 June 2016. To read the amendments and key features of the New CCL please click here.
To ensure compliance with the New CCL, private companies must ensure that the Memorandum of Association has been properly amended and notarised, by 30 June 2016. If you have any questions of require any further advice in relation to the New CCL and making the necessary amendments to your company’s MOA, please contact us at info@oneworldmideast.net
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Abu Dhabi Free Zone and China sign Cooperation Pact: The UAE Free Zone of Abu Dhabi and the China Banking Regulatory Commission (CBRC) have recently signed a cooperation agreement in order to enhance ties between the two countries and deepen exchange of information.The agreement was signed by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). Read more
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Dubai Economic Council and DIFC sign agreement: The Dubai International Financial Centre (DIFC) in the UAE signed a strategic partnership on 27 April 2016 with the Dubai Economic Council (DEC) as a means to augment trade and business growth in the emirate and boost the development of the financial services sector in Dubai, the wider UAE and the whole region in general.
In accordance to the provisions of the agreement, the two sides will share best practices in preparing financial studies on research and on corporate governance, and cooperate in developing programs and projects that achieve their mutual strategic objectives and enhance the economic initiatives of both Dubai and UAE as a whole. They will also cooperate in promoting Islamic finance. Read more
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UAE Expands Tax Treaty Network: The UAE is continuing to expand its network of double tax agreements in order to enhance the country’s economic competitiveness and benefit the investments of the public and private sectors, and individuals. Recently, the UAE has signed double tax agreements with Kosovo, the United Kingdom, Jordan, and a tax information agreement with Finland. Read more
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UAE retains third place amongst top ten countries for infrastructure investment: The third Arcadis Global Infrastructure Index (GII) has been recently released, indicating the markets that are the most attractive to both public and private investors for infrastructure investment. The UAE managed to retain its position among the world’s top three countries. Read more
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IFX Expo International 2016: Executives of One Plus Capital Ltd participated in the 2016 IFX Expo International that took place on 24-26 May in Limassol. More than 2500 attendees attended the Expo, with over 95 exhibitors and over 30 industry experts. Our team had the chance to interact with the industry’s experts through a series or workshops and open discussions.
Academy and Finance: Russian Clients: Executives of Oneworld Ltd took part in the Academy & Finance’s event, Russian Clients and CIS which took place on 27 April in Geneva. The event was attended by professional firms and businesses. Topics that were discussed during the event were new fiscal strategies and optimal structures for Russian clients, CFC rules, tax residency of companies and substance. The attendees had the chance to overview and discuss the challenges for Russian clients in 2016 as well as look at why Cyprus is positioned as a long term compliant solution for Russian clients tax planning.
The Investment Migration Forum: Senior executives from Oneworld are attending the Investment Migration Forum: "Advancing Investor Immigration and Citizenship" that will take place at the beginning of June in Geneva. The Investment Migration Forum is the world’s premier independent forum on the subject of citizenship by investment and investor immigration. The event will be attended by renowned academics, government officials, representatives of international organisations, as well as the world’s leading professionals dealing with investor immigration and citizenship.
Intax Expo Global Summit: Senior executives of Oneworld MidEast attended Intax Expo, a major conference for practitioners in spheres of corporate finance, residence and citizenship, estate planning and international tax structuring. The event was held on 14-15 March 2016 in Dubai, UAE and was attended by more than 190 delegates from Middle East, Europe, Asia, Africa, CIS, Caribbean, etc.
BBG Dubai: Iran's Economic Reintegration: Senior executives of Oneworld MidEast attended BBG Dubai's event on Iran's Economic Reintegration "The opportunities, challenges and all in between" that took place on 13 April 2016 in Dubai. The attendees had the chance to share insights and discuss the comeback of the second largest economy in MENA .
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