18 April

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Requirements for a casino license in Malta

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Requirements for a casino license in Malta Malta became a member state of the European Union on May 1, 2004 and it is the first country in the European union which has a legislation and regulations concerning on remote gaming. The Malta Gaming Authority (MGA) is responsible for the governance of gaming in Malta and has developed policies for their remote gambling operations.Licensed by the legislative body (Malta Gaming Authority) may include reduced rates of income tax on personal income. According to the Gaming Act (Chapter 400), PART IV, the Requirements for Casino license in Malta are: A person (or a company registered in...

17 April

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License and Taxation Fees of the Remote Gaming in Malta

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License and Taxation Fees of the Remote Gaming in Malta The Malta Gaming Authority (MGA) is responsible for the governance of gaming in Malta and has developed policies for their remote gambling operations.Licensed by the legislative body (Malta Gaming Authority) may include reduced rates of income tax on personal income. According to the Lotteries and Other Games Act (chapter 438) Part VI – a Grant of National Lottery License from the Authority include the follow: Application Fee for New License €2,330 Paid upon application for a remote gaming Licence System Audit €1,770 Fee paid in advance for the execution of the audit by the Authority’s approved third party...

16 April

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International Child Abduction – Cyprus Procedures – Hague Convention

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International Child Abduction – Cyprus Procedures Hague Convention International parental child abduction is a global problem affecting thousand children each year. The Hague Convention (1980) on the Civil Aspects of International Child Abduction seeks to protect children from the harmful effects of abduction and retention across international boundaries by providing a procedure to bring about their prompt return. According to the Hague Convention, the removal or the retention of a child is to be considered wrongful where: a) it is in breach of rights of custody attributed to a person, an institution or any other body, either jointly or alone, under the law of the State...

16 April

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Μεταφορά Έδρας Ελλαδικής Εταιρείας (ΑΕ) στην Κυπριακή Δημοκρατία και λειτουργία της ως Κυπριακή Εταιρεία (Λτδ) χωρίς διακοπή δραστηριοτήτων

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Μεταφορά Έδρας Ελλαδικής Εταιρείας (ΑΕ) στην Κυπριακή Δημοκρατία και λειτουργία της ως Κυπριακή Εταιρεία (Λτδ) χωρίς διακοπή δραστηριοτήτων Εταιρείες οι οποίες δραστηριοποιούνται στην ελληνική επικράτεια μπορούν να συνεχίσουν τον κύκλο των εργασιών τους στην Κύπρο εφόσον προσφέρεται ένα πολύ χαμηλό φορολογικό καθεστώς, αυτό της τάξεως του 12,5% σε αντίθεση με άλλες χώρες της Ε.Ε, μόνο με απλή μεταφορά της έδρας τους. Διαδικαστικά: Μεταφορά της ελλαδικής έδρας στην Δημοκρατία της Κύπρου και διατήρηση ή/και ίδρυση παραρτήματος/υποκαταστήματος στην Ελλάδα Το Γραφείο μας αναλαμβάνει την εκπλήρωση της διαδικασίας (γραφειοκρατικά έγγραφα κλπ) χωρίς την δική σας εμπλοκή Στόχος μας είναι να σας βοηθήσουμε να προχωρήσετε προς...

15 April

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Double Tax Treaties with Cyprus (DTT)

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The tax rates for the income between the countries having a double taxation treaty with Cyprus Many countries have agreed with other countries intreatiesto mitigate the effects of doubletaxation(DoubleTaxAvoidance Agreement). These agreements/conventions are made between the government of one country and the government of another country for the avoidance/elimination of double taxation on income and on capital. It concerns the persons who are residents of one or both of the Contracting Countries. Corporateprofits are taxed, and the shareholders of the corporation are (usually) subject to personal taxation when they receive dividends or distributions of those profits. The main aim of those...

14 April

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Alternative Investment Fund in Cyprus

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Alternative Investment Fund in Cyprus The Alternative Investment Funds (Law 131(I)/ 2014, provides the establishment of fund from a number of professional investors with a purpose to investing for their own benefit. ‘AIF’ or ‘Alternative Investment Fund’ means any collective investment undertaking, including investment compartments thereof, which, collectively: raises capital from a number of investors, with a view to investing it in accordance with a defined investment policy for the benefit of those investors. Authorization The operations of an AIF require the prior authorization and communication by the Securities and Exchange Commission in accordance with the provisions of the Law. The Regulator is the Cyprus...

13 April

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Directive of the Cyprus Securities and Exchange Commission regarding the Certification of Persons and the Certification Registers

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No. 4874, 22.5.2015 R.A.D. 174/2015 Directive of the Cyprus Securities and Exchange Commission regarding the Certification of Persons and the Certification Registers ORDER OF SECTIONS PART Ι INTRODUCTORY PROVISIONS Paragraph 1 Short title Paragraph 2 Definition Paragraph 3 Objective Paragraph 4 Scope Paragraph 5 Certified Persons PART IΙ EXAMINATIONS Paragraph 6 Frequency of examinations Paragraph 7 Examinations announcement Paragraph 8 Participation in the examinations Paragraph 9 Examination fees Paragraph 10 Structure of examinations Paragraph 11 Language of examinations Paragraph 12 Cooperation of the Commission with third parties Paragraph 13 Examination success Paragraph 14 Examination results PART ΙΙΙ PUBLIC REGISTER Paragraph 15 Register for Compliance Officers Paragraph 16 Registration in the Certification Registers Paragraph 17 Renewal of Registration in the Certification Registers Paragraph 18...

12 April

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Cyprus one of the most tax efficient regimes in EU for Intellectual Property Rights

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Intellectual Property (IP) Rights are the legal rights connected to the ownership, use, sale and disposal of the above mentioned intangible property. The legal system of Cyprus provides certain rights and protections for owners of intellectual property. An ideal location to establish the Intellectual Property structure is Cyprus due to its very low tax regime. The most common types of Intellectual Property rights (IPR) in Cyprus are the following: Copyright: gives the creator of an original workexclusive rightsto it. It may apply to a wide range of creative, intellectual, or artistic forms, or "works". Copyright does not cover ideas and information themselves, only...

11 April

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Right to Privacy and Society Vs. Cyber Attacks and Cyber Crime

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The last two decades, internet has grown exponentially worldwide. Access to information and connectivity and the consequences of cyber crime are enormous. What is Cyber Crime? Cybercrime is any criminal activity in which a computer or network is the source, target or tool or place of crime. According to The Cambridge English Dictionary cyber crimes are the crimes committed with the use of computers or relating to computers, especially through the internet. What the various types of Cyber Crimes include ? Worms Trojan Horses, Virus etc: are different hacking mechanisms Phishing: Bank Financial Frauds in Electronic banking which using social engineering techniques...

10 April

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THE PROCESSING OF PERSONAL DATA (PROTECTION OF INDIVIDUALS) LAW 138 (I) 2001

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THE PROCESSING OF PERSONAL DATA (PROTECTION OF INDIVIDUALS) LAW 138 (I) 2001 The purpose of the Law 138(I)/2001is to protect the fundamental rights of citizens and to address privacy issues arising out of the collection, storage, processing and use of personal data. At the same time, the Article 8 of European Convention on Human Rights includes the right to respect for private life. According to the abovementioned law which is harmonized with the European directives, "personal data" means: any information relating to a living data subject. ‘Sensitive data’ are data concerning racial or ethnic origin, political opinions, religious or philosophical beliefs, participation in a...

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