Today Evgenios Evgeniou, President of the Cyprus-Russian Business Association (CRBA), addressed the members of the association with an explanation of the information on the latest developments regarding the Double Taxation Treaty between Russia and Cyprus.

The government of the Republic of Cyprus is planning to speed up the process of CIP citizenship applications approval, according to In-Cyprus. This measure is aimed to support the Cyprus economy, which has been significantly affected by the global COVID-19 coronavirus pandemic and border closures. Accurate information about the new procedure and period of application lead time are expected in the nearest future.

It is important for all Cyprus passport holders to know that if you decide to fly to the island in the nearest future, you will need a special permit to cross the border.

According to the survey among Russian nationals with a fortune of at least $ 1 million the businessmen with a capital of more than $ 30 million preferred Cyprus as a tax jurisdiction.

On 24th of February 2020 the Cyprus Securities and Exchange Commission (CySEC) registered the Administrative Services Providers (ASP) license №207/169 of the Main Partner Trust.

Ursula von der Leyen, the President of the European Commission, stated that the Schengen area travel ban would last 30 days, with a possible extension if necessary.

The international consulting company Knight Frank revealed in The Wealth Report 2019 the investment preferences of millionaires whose net assets exceed $ 30 million annually.

The Russian news agency Kommersant published an article regarding Cypriot passports, which states that “Cyprus has stopped issuing new passports, in particular, to those who applied for them after January 31, 2020”.