Category

News
08
Apr

CYFA Announcement #15/2022 – Law amending the Companies Law 2022 – CYFA engages in consultation with the relevant Authorities

April 8, 2022
The Association would like to inform its members that the Republic of Cyprus is proceeding through a relevant legislative proposal to amend The Companies Law for harmonisation purposes with Directive (EU) 2019/1151 of the European Parliament and of the Council of 20 June 2019 amending Directive (EU) 2017/1132 as regards the use of digital tools...
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08
Apr

CYFA Announcement #14/2022 – EU Shell Company Directive Proposal – Submission of CYFA Positions

April 8, 2022
Following CYFA Announcement #9/2022 on the subject matter dated 17th March 2022, we would like to inform our members that the Association has submitted on the 4th April 2022 to the Ministry of Finance relevant positions and comments on the relevant Directive proposal. CYFA suggestions alongside with the comments of other industry stakeholders will be...
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07
Apr

CYFA Announcement #13/2022 – New Announcement of Ministry of Finance regarding the implementation of sanctions against Russia – 04/04/2022

April 7, 2022
The Association would like to inform its members that the Ministry of Finance has issued on the 04/04/2022 a new announcement regarding sanctions against Russia and Belarus. The new announcement replaces the 1st Announcement issued dated 14/03/2022. The new announcement, which is currently issued only in the Greek language, provides relevant information on the implementation...
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22
Mar

CYFA Announcement 12/2020 – Reminder – Imposition of annual professional license to legal entities

March 22, 2022
With regards to the subject matter, the Association would like to remind you of the announcement of the Cyprus Municipality Union dated 20th October 2020 (attached) urging all municipalities to adopt a single policy regarding the imposition of annual professional license to legal entities. At the same time, it is noted that each member is...
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18
Mar

CYFA Update #11/2022 – Consultation on draft Guidelines on the use of remote customer onboarding solutions (EBA/CP/2021/40)

March 18, 2022
Further to CYFA Update #05/2022, we would like to inform our members that the Association has successfully engaged in the public consultation procedure and has submitted relevant positions to the European Banking Authority (EBA). It is the opinion of the Association that the EBA initiative is a positive step in improving financial sector practices and...
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17
Mar

CYFA Update #10/2022 – Cyprus Tax Reform Consultation

March 17, 2022
In relation to CYFA Announcement #6/2022, the Association would like to inform its Members that following the industry stakeholders meeting held at CCCI offices on the 22nd February 2022, a jointly signed letter has been sent to the Ministry of Finance (dated 10th March 2022). The letter (attached), co-signed by all main stakeholders, including CYFA,...
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12
Mar

CYFA Update #09/2022 – EU Shell Company Directive Proposal

March 12, 2022
Following CYFA Announcement #3/2022 on the subject matter dated 18th February 2022, we would like to inform our members that Association representatives participated in an informal consultation meeting which took place at the Ministry of Finance on Wednesday the 9th March 2022. During the meeting, industry stakeholders consulted with Ministry officials and exchanged views on...
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01
Mar

CYFA Informative Circular #8/2022 – Extension of time for the submission of data of Beneficial Owners in the Beneficial Owners register of companies

March 1, 2022
CYFA would like to inform its members that the Department of Registrar of Companies has announced today, the 1st March, 2022 that the submission period of beneficial owners data is extended to 31.07.2022. Παράταση χρόνου υποβολής των στοιχείων των πραγματικών δικαιούχων στο μητρώο Πραγματικών Δικαιούχων Εταιρειών και άλλων νομικών οντοτήτων Extension of time for the...
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01
Mar

CYFA Informative Circular #7/2022 – Ariadni – New forms for the authentication profile of the legal entities (including bulk authentication)

March 1, 2022
CYFA would like to inform its members that the Department of Registrar of Companies announces that, as of Monday 28.02.2022, Ariadni is implementing the new forms for the authentication profile of the legal entities registered with the Registrar of Companies (i.e. companies, European companies and partnerships). In addition, with the new forms the bulk authentication...
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24
Feb

CYFA #06/2022 – Announcement – Tax Reform

February 24, 2022
CYFA would like to inform its members that the Ministry of Finance is currently examining a possible reform of the Cyprus Tax Regime. According to the Ministry, the need to update the tax system is deemed necessary and is part of the overall efforts to design a new competitive and attractive framework that shall reflect...
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