The UBO (Ultimate Beneficial Owner) Registry in Cyprus is a government-mandated database that records the details of the ultimate beneficial owners of companies and other legal entities registered in the country. This registry is part of Cyprus’s compliance with the 4th and 5th EU Anti-Money Laundering Directives (AMLD), which aim to increase transparency and combat […]

Cyprus Citizenship by Investment Program (CIP): Reminder of Obligations and Consequences of Non-Compliance. The Cyprus Citizenship by Investment Program (CIP) was suspended in November 2020. However, for citizens who obtained a passport under this program, the obligations remain in force. Failure to comply with these requirements may result in serious consequences, including revocation of citizenship. […]

The UK is one of the few countries that offered a special tax status — Non-Domiciled Resident (Non-Dom UK). This status first appeared in the United Kingdom in 1799 and will exist until 2025. On October 30, 2024, following the approval of the latest UK budget, the UK Government announced a series of measures, including […]

Wealthy taxpayers in the United Kingdom, along with leading tax experts and other stakeholders, have been discussing for months the possibility of a change to tax legislation in the UK, including the abolition of non-domiciliary tax status. The Main Partner Trust team of experts has suggested considering Cyprus as a potential alternative for tax residency. […]

The EU Blue Card is a type of residence permit that enables highly qualified professionals from outside the European Union to work and live in most EU member states (with the exceptions of Denmark and Ireland). EU Blue Card was created to address the shortage of skilled workers in certain industries and provides a streamlined process for highly skilled professionals and their families to relocate to the EU. Benefits of the EU Blue Card: The right to work: Holders of the EU Blue Card can work in any EU country and compete with locals. […]

Over the last few years, several significant events have impacted the lives of UK residents, including UK citizens (or permanent residents) who hold Russian passports. Brexit officially took place on January 31, 2020, when the UK formally left the European Union. However, the referendum in which UK residents voted to leave the EU was held […]