Mr Michalis Loizou

Michalis Loizou


Corporate Tax

Clampdown on companies lacking substance
Cyprus | 03 August 2018

Recent developments have underlined the need for businesses to have real substance in order to operate and benefit from tax residence in Cyprus. Lack of proper substance may not only lead to the denial of benefits under double tax agreements or EU directives, but may also mean that the company is unable to operate a bank account in Cyprus.