What is a Trust


A Trust is a legal mechanism for separating the ownership of an asset into two parts: the “legal” ownership, or title to the asset and the “beneficial” ownership. Trusts are incredibly useful and flexible engines that people ignite for all sorts of different purposes. The trust is established by an individual “the Settlor” and the […]


Banking in Cyprus


A successful recapitalised banking sector in Cyprus passed External Commercial Borrowing (ECB) stress tests and found a stable footing after the turmoil of the 2013 bail-in. Liquidity and solvency in the banking system have improved significantly, with exchange controls fully lifted in May 2015. Foreign investors who want to open a company in Cyprus will have to open a bank account for […]


Cyprus: Insolvency Framework


The six pieces of legislation forming the Insolvency Framework came into force on May 7, 2015, day of its publication in the Official Gazette [five laws and a regulatory administrative acts (regulations)]. Those provisions have been passed by the House of Representatives on April 18 2015. The following came into force: The Insolvency Individuals (Personal […]


Tax Avoidance Strategies in the European Union


While the formation of the EU brought unity to its member nations in a number of ways, there still remains a substantial difference between the laws of those member nations which include tax avoidance strategies in the EU making them vary by country. It is a well-known fact that some offshore tax haven countries have streamlined taxation […]


Tax Avoidance Vs. Tax Evasion


Take the Legal Route to Reduce Taxes When owning your own business, you most definitely have the right to organise it in such a way, ensuring you do not have to pay any more taxes than necessary. This strategic plan, known as tax avoidance, involves using legal means to reduce taxes and is the practice […]