In 2013, Cyprus faced a severe financial crisis but implemented significant reforms to restore stability and has since exited its bailout program. The country now offers an attractive environment for investment, including favorable citizenship and tax schemes, while its banking sector demonstrates high compliance and efficiency. Key upcoming developments include economic growth predictions and the discovery of natural gas reserves, alongside a strong emphasis on maintaining a healthy banking system and attracting foreign investments.

1. NEWS FROM CYPRUS:
COMPANIES AND BANK
ACCOUNTS

2. BANKING SECTOR: CRISIS
AND RESTORATION
- In 2013, Cyprus has faced a deepening crisis that has
necessitated drastic measures to resolve it.
- Cyprus agreed to an ambitious reform programme, to restore
financial stability and to achieve sustainable public finances to
support the recovery of economic activity
- Cyprus managed to OVER COME crisis and to RESTORE her
reputation worldwide within 3 years
- ImportantTax and Banking
Safeguards have been introduced
-AttractiveTax and Immigration
Schemes have been inserted

3. WHY BANKING IN CYPRUS
TODAY
 Healthy and viable banking system
 Cyprus Economy is on track March 2016 - Cyprus celebrates early exit of
bailout program having spent only EUR 7.25bln of the EUR 10bln
earmarked in the bailout
 Now supervised by the European Central Bank (ECB)
 Banks have a high level of compliance with the statutory and regulatory
requirements
 Straightforward and efficient account opening procedure
 Remote account opening possible through approved regulated introducers
 Over 30 years of experience as an international business hub distinguished
by the development of a wide range of legal, professional and financial
services
 Advanced infra structure

4. COMMON REPORTING STANDARDS
CLASSIFICATION AND OBLIGATION TO REPORT:
CLASSIFICATION DEPENDS ONTHE ASSETS, TYPE OF INCOME AND AMOUNT OF
EQUITY HOLDERS
1. ACTIVE FINANCIAL ENTITY (USUALLY HOLDING COMPANIES): NO REPORTING
OBLIGATION
2. PASSIVE FINANCIAL ENTITY:THE COMPANIES WHICH DO NOT QUALIFY AS AN
ACTIVE FINANCIAL ENTITY.
-THERE IS OBLIGATIONTO IDENTIFY CONTROLLING PERSONS(PERSONS WHO ARE
OWNING MORETHAN 25%)
-IFTHEY COMPANY WOULD BE CONSIDERED AS AN INVESTMENT
ENTITY/INVESTMENT VEHICLE,THE COMPANY WOULD BE SUBJECT IN FULL TOTHE
DUE DILIGENCE AND REPORTING OBLIGATION
-THE CLASSIFICATION IS PROVIDED BY
SELF-CERTIFICATION

5. PREDICTIONS AND
PERSPECTIVES FOR 2017
- ECONOMIC GROWTH AT LEAST 2.8%
- UPGRADING OF LARGER DOMESTIC BANKS BY INTERNATIONAL
RATING AGENCIES
- CAPITALIZATION AND CONSTANCY OF BANKS
- PROVISION OF LOANS-IMPROVEMENT TO BANKING SECTOR
- ATTRACTION OF FOREIGN INVESTMENTS
- CYPRUS HAS DISCOVERED SIGNIFICANT
RESERVES OF NATURAL GAS. DRILLINGSWILL
START IN 2019
-UPGRADE OF CURRENT SCHEMES
(CITIZENSHIP,NON-DOM AND IP REGIME)

6. CITIZENSHIP
Cyprus has established and revised a "Scheme for Naturalization of non-Cypriot
investors by exception"
BENEFITS:
-Straight forward and fast procedure
- Clear requirements
-Travel, work, study, live and operate a business throughout the European Union
-Citizenship is also granted to the Investor’s spouse;All financially dependent
children under the age of 28 and to the investor's parents
-There is no need to reside in Cyprus after obtaining the citizenship
-Cyprus allows multiple citizenship and Cypriot passport holders are allowed to
travel to 159 countries without the need of a visa
-Wonderful climate, clean environment and sandy beaches
-Cyprus offers an English speaking environment where the people are warm and
welcoming. It is also a safe and secure destination as Cyprus has one of the
lowest crime rates in Europe

7. CITIZENSHIP:
CRITERIA AND PROCEDURE
 - Investment between €2- €2.5 million
 -Wide range of Investment options
 -The applicant must purchase one residential
 property of at least €500.000
-Investment has to be retained for a period of
just 3 years. It can then be released. Residential property must be kept
for a life time
- The applicant must have clean criminal record
-The applicant prior to his/her naturalization as a Cypriot citizen must
hold a residence permit in Cyprus
-The documents are submitted to the Ministry of Interior for
examination

8. NON DOMICILE
REGULATIONS
-With the introduction of “non-domicile” rules, an individual who is a Cyprus tax
resident and is not domiciled in Cyprus will effectively not be subject to SDC in
Cyprus.
-The term “domiciled in Cyprus” is defined under the Law as an individual who
has Cypriot domicile of (a) origin and (b) by choice.The person obtains the
domicile of choice provided that he has an intention to settle in Cyprus
permanently.
The main requirements are:
(a) an individual who has obtained and maintained a domiciled of choice outside
Cyprus, provided that such an individual has not been a tax resident in Cyprus for
a period of 20 consecutive years preceding the tax year; or
(b) an individual who has not been a tax resident of Cyprus
for a period of 20 consecutive years prior to the
Implementation of the law.

9. IP REGIME:
CYPRUS IDEAL LOCATION
 The ideal location to establish an IP structure is one that can serve the
organisation’s business strategies and protect its IP and contribute to its
tax optimisation
 Cyprus offers an efficient IP tax regime coupled with the protection
afforded by EU and by the signatories of all major IP treaties and
protocols.
 Tax BENEFITS of Cypriot IP companies:
• 80% of worldwide royalty income generated from IP owned by Cypriot
resident companies (net of any direct expenses) is exempt from income tax
• 80% of profit generated from the disposal of IP owned by Cypriot resident
companies (net of any direct expenses) is exempt from income tax
• any expenditure of a capital nature for the development of IP is claimed as
a tax deduction in the year in which it was incurred and the immediate four
following years on a straight-line

10. CYPRUS COMPANIES: SUBSTANCE
AND BENEFITS
=> Cyprus is a LOWTAX jurisdiction. A foreign structure when found to
lack substance, could face higher tax burden and investigations by the
tax authorities.
=> STEPS to achieve substance:
 Have an office space / premises / physical address with telephone and
fax line;
 Qualified and knowledgeable directors and managers who are located
and employed in Cyprus;
 Its accounting records maintained in Cyprus;
 Operative local bank accounts with local signatories;
 Board meetings to be held in Cyprus;
 An independent local email address and/or website

11. CYPRUS COMPANIES:
SUBSTANCE AND BENEFITS
BENEFITS
 Payments of dividends, interest and royalties to non residents are not
subject to any withholding tax
 Profit from dealing in securities is tax free. (This includes trading in
securities in Cyprus as well as overseas markets)
 Less transfer fees on purchase of properties
 Large network of tax treaties with very favourable clauses. Many of the
treaties impose low or nil withholding tax on dividends, interest or
royalties at source
 European Union parent subsidiary directives apply
 Registration forV.A.T. for E.U. transactions
 Low income tax (12.5% on the net profit)

12. OXFORD MANAGEMENT-
OURTEAM
√ is comprised of multilingual professionals that are experts
within their field
√ provides quality investment advice and consultation
√ will formulate an appropriate strategy suitable to your specific
needs and demands
√ is responding immediately to your
requests
√ offers a wide range of services
√ Confidentiality and support through
the whole process

13. THANKYOU!!!!!!!!!!