WEBINAR DETAILS
Date: 5 May 2021
Time: 9:00 AM UTC
Duration: 60 min
Language: English
Format: Online
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WEBINAR DESCRIPTION

Cyprus: Keeping Up with the Cyprus Private Client Sector

(1) Managing a successful private client department.  We shall be addressing:

  • Identification of challenges and opportunities against the backdrop of a pandemic;
  • The impact of global developments on regulatory obligations;
  • How to successfully navigate the hurdles of  increased EU and International regulations, and,
  • The direct and indirect impacts of such regulation on businesses.

(2) Harmonization of the 4th and 5th AMLD into local law: We shall be exploring the main changes which are likely to impact private clients following the enactment of the Prevention and Suppression of Money Laundering and Terrorist Financing Law (13(I)/2021). Specific focus will rest on the launch of the following registers, each of which is designed to improve transparency in the identification and verification of ultimate beneficial owners:

  • Company
  • Trust
  • Legal Body

(3) Cyprus and international tax planning. We shall run through a sample list of  ‘Dos’ and ‘Don’ts’ for private clients who are seeking to gain maximum benefit from Cyprus’ business friendly tax regime.

(4) Impact of COVID 19 on tax residency of legal entities, PEs and individuals.  Measures taken to try to halt the spread of the pandemic have destroyed conventional travel resulting in many people being stranded in locations not of their choosing.  This potentially impacts their tax residency.  We shall address this subject at:

  • International level (OECD Secretariat Analysis of Tax Treaties and the Impact of the COVID 19), and,
  • Domestic level (Circular issued by the Cyprus Tax Department (“CTD”) (no. 04/2020)).

(5) Concluding remarks: Summary of key points raised. How to obtain further guidance.

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SPEAKERS
Elias Neocleous

Elias has long and deep experience in providing international businesses and organisations with advice at the highest level on matters including mergers and acquisitions, cross-border investment, business structuring, corporate governance and tax and international tax planning. He is widely recognised as a leading adviser to private clients on wealth management issues including family and charity trusts, family foundations, tax law, domicile, and asset management.  Elias is frequently invited to speak on Cyprus law at international events and has numerous publications on Cyprus corporate and tax law to his credit.

Spyros Ioannou

Spyros graduated from the University of Manchester having obtaining a Bachelor degree (with honours) in Accounting and Finance.  Following graduation, he subsequently trained as a Chartered Accountant (ICAEW) with Deloitte (UK) and Ernst & Young (Cyprus).  He is a Fellow of the Institute of Chartered Accountants in England and Wales and a member of the ICPAC. He holds position of Tax Partner (Head) in Primus Audit & Tax Limited – a firm that holds a top tier rank within the equivalent established Cyprus firms offering audit and tax services.  He has also established Invictus Professional Studies – an institute that holds leading position in Cyprus, offering professional courses towards ACCA and the ADIT.  Spyros has extensive experience in tax planning (local and international), structuring operations and group structures.  He offers knowledge, expertise and solid advice when attending the needs of his clients, clients who cover the entire spectrum - multi-national corporations, domestic solid entities, complex groups, trusts and high net worth individuals.

Elina Kollatou

Elina is an associate in the corporate and commercial department of Elias Neocleous & Co LLC. She graduated in law from the University of Leicester in 2008 and also holds an LLM in international commercial law and an MA in international relations and world order from the same university. Elina was admitted to the Cyprus Bar in 2012, and has since gained extensive experience in corporate law, trusts and estate planning. She also has experience in cross-border transactions including acquisitions, joint ventures, restructurings and refinancing. She advised international companies on advanced business structuring issues and trustees of Cyprus trusts on tax effective structures for acquisition, holding and ultimate disposal of assets.

Elena Christodoulou

Elena is an associate in the corporate and commercial department of Elias Neocleous & Co LLC. She graduated in law from the University of Surrey, UK, 2010, having been awarded a scholarship for all three years, and also holds an LL.M. in International Commercial Law from the University of Cardiff.  She was admitted to the Cyprus Bar in 2012.
Elena is a member of the firm’s tax, tax planning and advanced business structuring department, and specialises in international taxation and EU law.  She advises international companies on advanced business structuring issues and trustees of Cyprus trusts on tax-effective structures for acquisition, holding and ultimate disposal of assets.

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