(1) Managing a successful private client department. We shall be addressing:
- Identification of challenges and opportunities against the backdrop of a pandemic;
- The impact of global developments on regulatory obligations;
- How to successfully navigate the hurdles of increased EU and International regulations, and,
- The direct and indirect impacts of such regulation on businesses.
(2) Harmonization of the 4th and 5th AMLD into local law: We shall be exploring the main changes which are likely to impact private clients following the enactment of the Prevention and Suppression of Money Laundering and Terrorist Financing Law (13(I)/2021). Specific focus will rest on the launch of the following registers, each of which is designed to improve transparency in the identification and verification of ultimate beneficial owners:
- Company
- Trust
- Legal Body
(3) Cyprus and international tax planning. We shall run through a sample list of 'Dos' and 'Don'ts' for private clients who are seeking to gain maximum benefit from Cyprus' business friendly tax regime.
(4) Impact of COVID 19 on tax residency of legal entities, PEs and individuals. Measures taken to try to halt the spread of the pandemic have destroyed conventional travel resulting in many people being stranded in locations not of their choosing. This potentially impacts their tax residency. We shall address this subject at:
- International level (OECD Secretariat Analysis of Tax Treaties and the Impact of the COVID 19), and,
- Domestic level (Circular issued by the Cyprus Tax Department ("CTD") (no. 04/2020)).
(5) Concluding remarks: Summary of key points raised. How to obtain further guidance.
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