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Malta and Luxembourg both offer attractive solutions to those considering moving their corporate or fiduciary structures from Cyprus, explain by Herman Troskie and Mel Roberts, Maitland.
For many years Cyprus was popular in the corporate and fiduciary structuring market. It offered a low cost, efficient, and well regulated environment, as well as a wide range of double taxation treaties with countries such as Armenia, Belarus, Bosnia and Herzegovina, Moldova, Russia, and the Ukraine.
However, the recent economic meltdown in Cyprus and its subsequent bail-out has led to doubts about the country’s continued attractiveness. There is some speculation that the fiscus will have to turn its attention to corporate tax rates and other ways of raising revenue....
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