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RECENT CHANGES TO BVI LEGISLATION IN RESPECT OF BENEFICIAL OWNERSHIP-PUBLIC REGISTER OF BENEFICIAL OWNERSHIP

On  April 2016, as part of a crackdown on tax evasion, the British government announced that all of the crown dependencies and British overseas territories (including BVI) had formally agreed to exchange information relating to the beneficial ownership of companies to the UK law enforcement. Located in the Caribbean, the British overseas territory has come […]
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Russia Double Tax Treaty: Implementation Postponement – Amendment of Article 13 “Capital Gains”

Russia Double Tax Treaty: Implementation Postponement – Amendment of Article 13 “Capital Gains” January 12, 2017 |Thenia Elena Lambridou, Associate Lawyer The Cyprus Ministry of Finance, last week announced that an agreement has been reached between the Russian Authorities and the Authorities of Cyprus for postponing the application of the Protocol, amending Article 13 ‘‘Capital […]
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CYPRUS CITIZENSHIP SCHEME MADE EVEN MORE ATTRACTIVE

On the 13/9/2016, the Cyprus Government announced that the Council of Ministers revised the criteria and updated the procedure and a series of financial criteria for granting Cypriot citizenship to foreign investors, lowering the threshold and thus making the programme  even more attractive. The previous ‘collective investments’  application has been abolished. Under the new procedure, […]
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GCP LAW celebrated its 10th Year Anniversary!

On the 3rd of September, GCP LAW celebrated its 10th Year Anniversary with a majestic gala dinner at the Balthazar Restaurant of the CVAR/Severis Foundation in the heart of Nicosia. We had the pleasure to welcome distinguished guests, clients and associates of GCP LAW from Cyprus and abroad. The gala dinner honoured with his presence the Minister of Finance Mr […]
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BVI BUSINESS COMPANIES ACT – IMPORTANT CHANGES

Final approval of the amending legislation from the BVI Government has now been granted with the BVI Business Companies (Amendment) Act, 2015 being Gazetted late on New Year’s Eve. On 5 January 2016 a further notice was issued bringing into force the new provisions relating to the register of directors on 1 April 2016, and […]
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WHAT IS THE NEW PSC REGISTER IN THE UK AND HOW IT AFFECTS THE BENEFICIARY?

Definition The PSC or ‘persons with significant control’ register is a new statutory register which most UK companies and LLPs will be required to keep in order to ensure that the individuals who are its ultimate beneficial owners and controllers are identified and details of their holdings made public. Rationale The Government hopes that the introduction of […]
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