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The Evolving UAE Tax Landscape  In the realm of global economic hubs, the United Arab Emirates (UAE) has long stood out as a tax-friendly jurisdiction, fostering an environment conducive to business growth and prosperity.   This long-celebrated tax-friendly environment, is undergoing a profound transformation.  The UAE tax system is poised for a paradigm shift, marked by a series of updates and reforms that underscore the nation’s commitment to international standards and heightened transparency.  The focal point of this analysis is the introduction of corporate tax, a strategic move aligning the UAE with international norms of tax transparency. Meticulously examining its applicability,

Tax-Facts-2024Download

As we step into the new year of 2024, it’s essential for organizations and individuals alike to proactively plan and set financial goals. The economic landscape is constantly evolving, and having a solid financial plan is crucial for success and stability. This comprehensive guide will equip you with the knowledge and strategies needed to navigate the financial challenges and opportunities that lie ahead. 1: Assessing the Current Financial Situation Before setting financial goals for the new year, it’s crucial to assess your current financial situation. This involves evaluating your income, expenses, assets, and liabilities. By understanding where you currently stand,

As we step into the new year, it’s crucial to stay informed about changes that may impact our financial landscape relating to the updated social insurance contribution rates in Cyprus, effective January 1, 2024. Contribution Rates: Self-employed individuals: 16.6% Employer’s contribution: 8.8% Employee’s contribution: 8.8% Employer’s contribution to Redundancy Fund: 1.2% Employer’s contribution to Social Cohesion Fund: 2% Employer’s contribution to Human Resource Development Authority Fund: 0.5% The maximum limit of emoluments is set at €5,239 per month or €62,868 per year. These adjustments are vital for both employers and employees to ensure compliance and proper financial planning.

HIGHWORTH BUSINESS CONFERENCE INVITATION 2OTH SEPTEMBER 2022 We are happy to share with you that HIGHWORTH after establishing its Representative offices in Beirut, and creating stronger bonds with the Lebanon Market, organises a Business conference on the 20th of September 2022 at our office’s  Building Conference Area, Beirut. The upcoming Business Conference aims to enhance the connections between Cyprus and Lebanon and offer additional opportunities to Lebanese corporate and private individuals for further expanding overseas and diversifying risk. Subject to the limited availability, we would kindly ask you to send an email request of attendance, including your name and professional background.

The United Arab Emirates comprises of a Federation of seven emirates namely, Dubai, Abu Dhabi, Sharjah, Fujairah, Ras Al-Khaimah, Umm Al-Quwain, and Ajman which have their own rules and regulations There are over 40+ Freezones in the country, each one offering a variety of advantages, from 50-Years tax exemptions to dual licensing options. The Freezone is an International concept, which was launched in the UAE for foreign investors who wish to secure and obtain 100% ownership of their businesses, whilst claiming benefits such as zero taxation, granting 100% repatriation of profit, and obtaining UAE Residency visas. UAE Company Benefits: 100%

REASONS TO RELOCATE YOUR IT COMPANY TO CYPRUS Cyprus offers the best package of benefits and living conditions in Europe, perhaps globally, for relocating yourIT business and your team of employees and specialists here. ➢ 2,5% effective tax rate – lowest in Europe.➢ Safety: The security and integrity of your business are ensured by the Cyprus government’s laissez-faire policy, with minimum regulation or intervention. • Personal and family safety – Cyprus ranks 30th on the Safety Index out of 129 countries – ahead of Singapore, Luxembourg, and Norway.➢ Fantastic weather year-round. 330 days of sunshine, every year. Cyprus is blessed

The Cyprus Securities and Exchange Commission (CySEC) is an anti-money laundering and counter-terrorist financing (AML/CFT) supervisor for crypto-asset operations undertaken in or from Cyprus and provides all relevant guidance for Crypto Asset Services Providers (CASP) registration. The CASP registration covers the following crypto-business models and cases: Cryptocurrency exchanges: these are online marketplaces where the buying of crypto-assets (i.e. cryptocurrencies, altcoins, non-fungible tokens (NFT), and so on), can take place either as crypto-to-crypto or as fiat-to-crypto and vice versa transactions. Crypto Wallet businesses and anyone that provides management, administration, transmission, transfer, retention, custodianship, and safekeeping of crypto-assets or cryptographic keys or means

ISSUE AND RENEWAL OF TEMPORARY RESIDENCE AND EMPLOYMENT PERMITS FOR THIRD-COUNTRY NATIONALS – COMPANIES WITH FOREIGN INTEREST The Republic of Cyprus wishes to encourage international businesses to set up their headquarters of regional headquarters in Cyprus or to engage in substantial local businesses.Cyprus provides for special residence and works permits for non-EU staff of so-called “Companies with Foreign Interest”. How to obtain a work permit in Cyprus Ahead of the new legislation in Cyprus regarding migration permits, new much more lenient measures have been implemented. As per the new legislation, obtaining a work permit in Cyprus has now become astraightforward