Newsroom
Romania: establishment of the new minimum gross base salary guaranteed at national level
[print_link] On Wednesday, January 13th, the Romanian Government voted on decision no. 4/13.01.2021 and subsequently published the decision in the National Gazette relating to the approval to...
Read MoreDispute Advisory Services
Whilst in everyday life disputes between individuals are commonplace, the same happens within organizations. Disputes are an inevitable byproduct of doing business and the nature of litigation is...
Read MoreLatest amendments to the Bulgarian Social Security and Tax legislation effective as at January 1st...
[print_link] Certain changes to the Bulgarian Social Security legislation were published in the Bulgarian State Gazette No 103/4.12.2020, that entered into force on the 1st of January 2021. The...
Read MoreBosnia & Herzegovina Publishes Regulations For VAT Refunds To Non-Residents
[print_link] The regulations for granting VAT refunds to foreign taxable persons were published in Official Gazette No. 78 of Bosnia and Herzegovina on 4 December 2020. The legislation aims at...
Read MoreOverview of 2021 Albanian Tax Legislation Revamp
[print_link] Recently, the Albanian government has published certain changes to the tax legislation which are effective as of January 1st 2021, affecting a wide range of taxes. Increase of the VAT...
Read MoreGeorgia Introduces a New Package Of COVID-19 Assistance
[print_link] The Georgian Government has developed a new anti-crisis package, within the framework of which it will provide all possible assistance to residents and businesses in an extremely...
Read MoreCroatia Rehauls Tax System in 2021; Reduces Tax Rates & Increases Thresholds
[print_link] Croatia has published a set of 2021 reform Acts, including the Act on Amendments to the Corporate Income Tax, Personal Income Tax, Value Added Tax and Fiscalisation. Our Croatia team’s...
Read MoreNorth Macedonia introduces a new VAT rate; hospitality and catering sectors affected
[print_link] Effective 1 January 2021, the North Macedonian VAT regime has been amended to include a new tax rate of 10%, in addition to the previously prescribed standard rate of 18% and reduced...
Read More4th and 5th AML Directive – Establishment of UBO Register – Cyprus
[print_link] On December 16th, 2020, the Council of Ministers decided to transpose the 4th Anti-Money Laundering Directive (EU) 2015/849 to the national legislation....
Read MoreGreece: a myriad of reasons to take a second glance at residency
[print_link] Financial motivation alone is never enough to decide upon one’s return to a country or even to move to another employer. The excellent lifestyle, the mild climate along with the...
Read MoreLegalisation news for Cryptocurrencies in Ukraine
Times magazine recently announced that 2020 is the worthiest year in world history. ...
Read MoreGreece: 50% tax reduction from the annual income of 1st-time employment
[print_link] It is widely known that brain drain is the worst threat to a country’s prosperity. The Greek government announced legislative initiatives to reverse this phenomenon, to...
Read MoreOPENING A BANK ACCOUNT IN MONTENEGRO
[print_link] Montenegro has been recognized in recent years as one of the best countries to invest in, mainly because of its political stability, liberal economic regime of foreign trade, favorable...
Read MoreOpening a bank account in Serbia
[print_link] Serbia boasts an excellent strategic location, solid infrastructure and highly knowledgeable human resource potential. Being at a unique position in the European market, Serbia offers...
Read MoreUkraine`s strategy against COVID-19
[print_link] It has been a while since the world found itself some peace and rest. The COVID-19 outbreak has not only introduced to us the virus itself, but also a new era of masks, sanitizers and...
Read MoreObligations of Bulgarian Companies under “MAMLA”
[print_link] IntroductionThe new Measures against Money Laundering Act (the “MAMLA”) promulgated in the State Gazette, issue 27, dated 27 March 2018, and entered into force on 31 March 2018,...
Read MoreRecent Tax Developments in Europe
[print_link] Despite COVID-19, the international tax environment continues to transform. Has your organization updated its method of operation to comply with the new requirements? The EU Anti-Tax...
Read MoreEurofast CEO, Christodoulos Damianou appointed Honorary Consul of Ukraine in Cyprus
[print_link] We are pleased to announce that in August 2020, Mr. Christodoulos Damianou, the Group CEO of Eurofast was appointed Honorary Consul of Ukraine in the Republic of Cyprus with jurisdiction...
Read MoreRomania: Company Law to be amended – Law 223 / 30.10.2020
[print_link] In an effort to reduce bureaucracy when operating limited liability companies, Romania has amended its Company Law that will come into force 3 days following its publication in the...
Read MoreHR, Payroll and PEO services in Bulgaria
[print_link] In recent years, Bulgaria has been an increasingly attractive destination for the outsourcing of businesses in numerous industries. As a member of the European Union, Bulgaria has...
Read MoreCyprus Investment Programme Cancelled
[print_link] In an Extraordinary General Meeting of the Cyprus Parliament on 13 October 2020, the Council of Ministers has voted and decided to cancel the Citizenship by Investment Programme. In...
Read MoreOpening a bank account in Bulgaria
[print_link] In recent years, Bulgaria has become one of the most attractive destinations for investments. The country is renowned as a center of operations for foreigners’ businesses as a...
Read MoreGlamping: camping in style and with amenities
[print_link] Glamping is a glamorous way of camping. It is designed for those who enjoy spending time in nature without wanting to sacrifice luxury accommodation. This unique experience includes...
Read MoreBosnia & Herzegovina amends Law on Tax Incentives for Employers
[print_link] In order to clarify the application of tax incentives, on 22 July 2020, the National Assembly of the Republic of Srpska (RS) adopted amendments to the Law on Incentives in the...
Read MoreCROATIA OPTS TO EXTEND CROSS-BORDER REPORTING DEADLINES UNDER DAC 6
[print_link] As a result of COVID-19 pandemic, on 24 June 2020, the European Council reached an agreement on an optional delay to the reporting deadlines regarding cross-border arrangements under...
Read MoreThe Bureau of Economic Security of Ukraine’s business impact
[print_link] On September 3rd 2020, the supreme legislative body of Ukraine (Verkhovna Rada) adopted a Draft Law № 3087-d “On the Bureau of Economic Security of Ukraine” through which it...
Read MoreCovid measure: VAT rate reductions in Montenegro
[print_link] In light of the new developments related to the Covid-19 pandemic and the preservation of economic activity, Montenegro has introduced new amendments to the Law on Value Added Tax,...
Read MoreTax incentives in Georgia for international IT and maritime companies
[print_link] The Georgian Finance Minister, Vano Matchavariani, recently announced that companies offering IT and maritime services that apply for, and obtain, the status of an international...
Read MoreAmendments to Romanian Labour Code – ( Law 213 / 30.09.2020)
[print_link] The most important specifications of the law that came into force on October 3rd, amending and completing the Labour Code, are the following: Any Romanian who is interested in being...
Read MoreStated Deadline for Ultimate Beneficial Owners in Greece registration
[print_link] We would like to inform you that the extended suspension of operation of the information system “Central Register of Ultimate Beneficiary Owners (“UBOs”) per article 20 of...
Read MoreNew Regulations For Foreigners Who Work Online From Serbia
[print_link] The Serbian Labor Minister, Zoran Đorđević, recently announced amendments to the Law on Employment of Foreigners and the Law on Foreigners. The amendments aim at securing higher...
Read MoreΈλεγχος – επισκόπηση: Το Διεθνές Πρότυπο Αναθέσεων...
[print_link] Στην εποχή που η διαφάνεια των οικονομικών καταστάσεων καθίσταται αναγκαία και χρήσιμη για τις...
Read MoreNorth Macedonia: Deadline For New Transfer Pricing Reporting Expires Today (September 30)
[print_link] North Macedonia became the 117th member to join the Inclusive Framework (“IF”) for the global implementation of the Base Erosion and Profit Shifting (BEPS) Project in August...
Read MoreSOFIA AMONG THE TOP 25 TECH CITIES OF THE FUTURE FOR 2020/21
[print_link] The capital of Bulgaria, Sofia, was ranked among the top 25 cities in Europe at the “fDi and TNW’s Tech Cities of the Future” for 2020/21. Sofia is one of the two South-East...
Read MoreThe Cyprus Anti-Tax Avoidance Directive (Exit Taxation)
[print_link] The Cyprus Parliament on 19 June 2020 has voted the Cyprus transposition of the European Union (EU) Anti-Tax Avoidance Directive (ATAD) for Exit taxation and Hybrid mismatch rules, which...
Read MoreEurofast announces the appointment of Antonis Gavrielides and Irena Damianou to its Board of...
[print_link] Eurofast recently appointed two new members to the Board of Directors. Antonis Gavrielides is the Director of Eurofast Greece. Mr. Gavrielides has a Master’s Degree in Business...
Read MoreCyprus implements EU ATAD Exit Taxation & Hybrid Mismatches
[print_link] The Cyprus Parliament on June 19th 2020, voted for the Cyprus transposition of the European Union (EU) Anti-Tax Avoidance Directive (ATAD) for Exit taxation and Hybrid mismatch rules....
Read MoreGREECE ATTRACTS FOREIGN PENSIONERS WITH BENEFICIAL TAX RATES
[print_link] Following the introduction of the non-dom regime for high net-worth individuals (HNWIs) in Greece, the Greek Parliament voted further the Law 4714/31.7.2020 regulating the non-dom regime...
Read MoreEGYPT: PENALTY WAIVER LAW NO. 173 FOR THE YEAR 2020
[print_link] On August 16, 2020, the Government of Egypt issued Law No. 173 for the year 2020. The law was issued to waive penalties for delayed tax payments and interest on tax differences and...
Read MoreNew Georgian visa program for self-employed and remote workers
[print_link] Georgia is one of the few countries that has established itself as a “Covid-safe” country and the country’s government is doing everything it can in order not to lose this...
Read MoreCYPRUS PERMANENT RESIDENCY (CATEGORY F)
[print_link] Regarding the Permanent Residency Permit for applicants from non-European Union countries, among the documents that need to be submitted, the applicant must meet the requirements noted...
Read More60-day rule – Cyprus Tax Residency
[print_link] According to the Income Tax Law of 2002, the Cyprus tax residency- based system constitutes individuals physically spending over 183 days within a tax year (1st January to 31st December)...
Read Moreالقانون رقم 170 لسنة 2020
[print_link] فى 13 أغسطس 2020 ، أصدرت الحكومة المصرية القانون رقم 170 لسنة 2020 و الذى يطالب الشركات بخصم 1% من رواتب جميع...
Read MoreEGYPT ISSUES LAW 170 ON SALARIES AND PENSIONS DEDUCTIONS DURING THE PANDEMIC
[print_link] On August 13th 2020, the Government of Egypt issued Law No. 170 for the year 2020. The law requires companies to deduct 1% from all its employees’ salaries for a period of 12 months...
Read MoreNew generation passports, residence permits and ID cards to be issued to Cypriot citizens
[print_link] Applications for the long-awaited new generation electronic Cyprus passports, residence permits and ID cards have begun as of the 30th of July 2020 as announced by the Cyprus Civil...
Read MoreNEW INDIVIDUAL TAX RATES & PENALTIES ON TAX DIFFERENCES (LAW NO. 26 2020)
[print_link] LAW NO. 26 FOR THE YEAR 2020 On May 7th, 2020, the Government of Egypt issued Law No. 26 for the year 2020 that amended specific articles in the Income Tax Law No. 91 for the year 2005...
Read MoreΕισαγωγή εταιρείας στη Ν.Ε.Α Αγορά του ΧΑΚ
[print_link] Είναι ευρέως γνωστό, ότι η Κύπρος διαθέτει ένα πολύ ανταγωνιστικό φορολογικό σύστημα. Δίνονται...
Read MoreCyprus – Switzerland DTT and signed Protocol
[print_link] Cyprus and Switzerland, signed a protocol on Monday 21st July 2020, amending the existing double taxation agreement of 2014 intending to strengthen the framework of economic relations...
Read MoreCEO Message
[print_link] Dear clients, associates and friends We have already entered the two hottest months of the summer safely. This is a very special summer, in the midst of a pandemic, daunting most people...
Read MoreControlled foreign companies (CFC) rules in Ukraine
[print_link] The controlled foreign companies (“CFC”) rules are a powerful mechanism allowing authorities to tax the foreign profits of residents. Ukrainian CFC rules were first set towards the...
Read MoreBulgaria enters the Eurozone’s “waiting room”
[print_link] Germany’s assumption of the Presidency of the EU began on the 10th of July 2020. Along with it came the long-awaited announcement that Bulgaria and Croatia entered the ERM2 exchange...
Read MoreROMANIA: THREE MAJOR CHANGES TO THE COMPANY LAW
[print_link] On the 2nd of July 2020, after an almost six month wait, the law that allows for the de-bureaucratisation of company incorporations in Romania, was finally published in the National...
Read MoreUkraine is launching a pilot project of E-residency
[print_link] On Thursday, June 25, the Cabinet of Ministers of Ukraine adopted a decree “On implementation of a pilot project of electronic residency in Ukraine”. The Minister of Digital...
Read MoreCroatia 2020 VAT revamp and subsequent measures introduced
[print_link] In the last month of 2019, Croatia published amendments on its VAT system which generally apply as of 1 January 2020. The most important changes introduced included implementation of the...
Read MoreBosnia and Herzegovina ratifies MLI Convention
[print_link] Bosnia and Herzegovina, following its 30 October 2019 signing of the Multilateral Convention (MLI), had published the list of expected reservations and notifications. Bosnia and...
Read MoreCitizenship by Investment: opting for Cyprus
[print_link] Pursuant to subsection (2) of section 111A of the Civil Registry Laws of 2002-2013, the government of the Republic of Cyprus enforced a number of favourable incentives to encourage...
Read MoreUkraine drastically amends its tax system with the new Anti-BEPS Law
[print_link] Supported by the OECD, the Base Erosion and Profit Shifting (BEPS) Action Plan is spreading across the world to eliminate different tax avoidance strategies. On May 23, the supreme...
Read MoreVAT suspension scheme boost Greece holiday homes sales
[print_link] The transfer of a newly built property (prior to its initial use/occupation) as well as of the plot on which the building is situated on is subject to VAT in Greece. This is provided...
Read More“All eyes on the Balkans: Banking operations in Bulgaria, Romania, Montenegro and Serbia”
[print_link] Needless to say, a business requires a bank account in order to function properly. In certain instances, however, having to open a bank account is more complex that one would...
Read MoreUkraine adopts new AML Law; clarifies and intensifies financial monitoring
[print_link] April in Kyiv was an intense month, not only because of the globally challenging coronavirus crisis, the new land and medical reforms but also due to the new National Bank of Ukraine...
Read MoreDouble Tax Treaty between Cyprus and Kazakhstan ratified; will enter into force 2021
[print_link] On January 17th,2020, the double tax treaty between the Government of the Republic of Kazakhstan and Government of the Republic of Cyprus was ratified. The DTT Convention on income tax...
Read MoreLATEST UPDATES ON MONTENEGRO CITIZENSHIP BY INVESTMENT PROGRAM
[print_link] Montenegro was affected by the Covid-19 pandemic and crisis much like the rest of the world. This unprecedented situation has disrupted all aspects of economy, including the recently...
Read MoreGreece adopts favourable VAT measures to strengthen the tourism
[print_link] In aiming to attract investments and foster its economy, the Greek government is preparing its new draft bill that will provide further reductions in taxes and social security...
Read MoreEUROFAST CSR POLICIES AMIDST COVID-19 OUTBREAK
[print_link] At Eurofast we have long believed that solid and consistent corporate social responsibility (CSR) policies constitute a cornerstone to our identity and brand both towards our customers...
Read MoreLand reform in Ukraine: a new wind for investors
[print_link] After 19 years of discussions, changes and ameliorations, on March 31st 2020, the supreme legislative body of Ukraine (Verkhovna Rada) adopted the so-called “land bill”...
Read MoreSupport Scheme from Greek banks against COVID-19 outbreak in Greece
[print_link] The Greek banks have recently unveiled new measures to combat the impact of COVID-19 as listed below: NATIONAL BANK of GREECE (NBG) measures: For medium and large sized companies, a...
Read MoreПродление срока действия греческого вида на...
[print_link] В соответствии с Решением греческого министерства 12889/2020 (Официальный вестник 1086 Β / 30-3-2020) сроки...
Read MoreСОЗДАНИЕ ИНВЕСТИЦИОННОГО И ИММИГРАЦИОННОГО ПЛАНА В...
[print_link] Непредсказуемое появление COVID-19 потрясло мир. Нынешние события в эпоху нестабильности непременно...
Read MoreСОЗДАНИЕ ИНВЕСТИЦИОННОГО И ИММИГРАЦИОННОГО ПЛАНА В...
[print_link] Непредсказуемое появление COVID-19 потрясло мир. Нынешние события в эпоху нестабильности непременно...
Read MoreCoronavirus in Serbia: How to access government funding?
[print_link] The Serbian Government had two objectives when preparing the economic assistance program designed to mitigate the damage caused by the COVID-19 epidemic – safeguarding employment...
Read MoreThe End of Treaty Abuse and a Fresh Start of Tax Treaty Use – the Multilateral Instrument (MLI)
The popularity of the Multilateral Instrument Convention (MLI) is on the rise but few have understood and even less have seen its effect which has been argued to be a milestone in the history of...
Read MoreWhy Romania can be a smart tax planning strategy in Covid-19 times
[print_link] It is an inevitable fact that a wide range of companies will face difficult financial times as a result of the current crisis. This is where we, Eurofast, can step in with tailor-made...
Read MoreΣχέδιο Μερικής Αναστολής
[print_link] Σε συνέχεια των μέτρων που ανακοινώθηκαν από το Υπουργείο Εργασίας, Πρόνοιας και Κοινωνικών...
Read MoreCyprus: Special Scheme for Partial Suspension of Business
[print_link] Further information has been announced by the Ministry of Labour, Welfare and Social Insurance in regards to the application of the Special Scheme for Partial Suspension of Business for...
Read MoreRomanian government to grant credit lines to companies
[print_link] The Ministry of Public Finances will guarantee up to 80% of the value of the financing granted to SMEs in light of the current COVID-19 situation. Interested companies should note the...
Read MoreΑΝΑΣΤΟΛΗ ΛΕΙΤΟΥΡΓΙΑΣ ΤΟΥ ΚΕΝΤΡΙΚΟΥ ΜΗΤΡΩΟΥ...
[print_link] Τα τελευταία μέτρα στήριξης της ελληνικής Κυβέρνησης κατά της εξάπλωσης του Covid-19, που αποφασίστηκαν...
Read MoreSUSPENSION OF THE GREEK CENTRAL REGISTRY OF ULTIMATE BENEFICIAL OWNERS AMONGST THE MEASURES OF THE...
[print_link] The latest support measures of the Greek Government against the spread of the Covid-19 outbreak, adopted on 30.03.2020, include, amongst others, a provision on the suspension of the...
Read MoreHOW TO REGAIN YOUR ROMANIAN CITIZENSHIP IN 6 STEPS
[print_link] FIND YOUR RELATIVES IN ROMANIA First, you must find out if your parents or grandparents were Romanian citizens and if they renounced their Romanian citizenship or it was withdrawn by the...
Read MoreARE YOU PLANNING TO STAY IN SERBIA INDEFINITELY? IF SO, APPLY FOR A PERMANENT VISA WITH US
[print_link] The permanent type of VISA is only for foreigners who want to stay in Serbia for a long period of time and do not plan to return to their native country in the near future or are willing...
Read MoreCOVID19 Government Measures in South East Europe and the Middle East (SEEME)
[print_link] 100 years after the Spanish flu, a new pandemic strikes the world, impeding free movement, considerably slowing down the world economy as well as seriously restricting the rights of the...
Read MoreExtension of the period of validity of residence permits & other support measures due to...
[print_link] According to the Greek Ministerial Decision 12889/2020 (Official Gazette 1086 Β/30-3-2020), the validity period of residence permits, residence cards and permanent residence cards will...
Read MoreThe end of the Double tax Treaty between Cyprus and Russia as we know it
[print_link] When addressing his nation regarding the Covid19 pandemic, Vladimir Putin made an unexpected announcement regarding Russian Double Tax Treaties: all dividends which are withdrawn...
Read MoreΤΟ ΚΑΘΕΣΤΩΣ “NON-DOM” ΜΕΣΑ ΣΤΟΝ ΕΛΛΗΝΙΚΟ ΦΟΡΟΛΟΓΙΚΟ...
Έχουν περάσει σχεδόν τρεις μήνες από τότε που το ελληνικό Κοινοβούλιο επικύρωσε το νέο φορολογικό νόμο, υπ’...
Read MoreTHE NON-DOM REGIME IN THE GREEK TAX BILL 4646/2019
[print_link] Law 4646/2019, as in force, from 12.12.2019, introduced significant changes in the Greek Income Tax Code, amongst others, the long-anticipated non-dom regime for high net-worth...
Read MoreПОЛУЧЕНИЕ АМЕРИКАНСКОЙ ВИЗЫ ИНВЕСТОРА Е – 2 ЧЕРЕЗ...
[print_link] Виза E-2 в США является одним из самых популярных видов на жительство для предпринимателей, желающих...
Read MoreПОПРАВКИ К ГРЕЧЕСКОЙ ПРОГРАММЕ ЗОЛОТОЙ ВИЗЫ;...
[print_link] Парламент Греции, стремясь к оживлению рынка недвижимости по всей стране, ратифицировал Закон 4635/2019,...
Read MoreCREATING AN INVESTMENT AND IMMIGRATION PLAN IN A COVID-19 ERA
[print_link] The unpredicted appearance of COVID-19 has shaken up the world. What happens today in these uncertain times will have a significant impact on what comes tomorrow. Our plans have been...
Read MoreROMANIA: PEO SERVICES
What is PEO? The concept of Professional Employment Organization ( PEO) also known as known as Employer of Record (EOR) and staff leasing enables foreign companies to hire employees without the...
Read MoreRomania: CES- Certificate of Emergency Situations
On 25.03.2020, the Order regarding CES (Certificate of Emergency Situations) – essential in obtaining the facilities and support measures or in commercial relations – was issued in the...
Read MoreEUROFAST DREAM TEAM: WE REMAIN CONNECTED DURING CHALLENGING TIMES
100 years after the Spanish flu, a new pandemic strikes the world, seriously impeding free movement, considerably slowing down the world economy as well as seriously restricting the rights of the...
Read MoreExtension of tax benefit for UK nationals receiving a Government Service Pension
Overview UK Nationals residing in Cyprus and receiving a pension from the UK have benefited by the original Double Tax Treaty signed between Cyprus and the UK in 1974 and amended in 1980 (“the...
Read MoreObtaining a USA E-2 investor visa via South East Europe and Montenegro’s CIP scheme
The USA E-2 is one of the most popular residencies permits for entrepreneurs looking to invest in – and reside in -the land of opportunity. The E-2 is a non-immigrant visa, granting the holder...
Read MoreFeatures of taxation of crypto currency in Georgia in 2020
For several consecutive years, Georgia has maintained a leading position in the field of crypto currency mining in the world. The attractiveness of the jurisdiction for the extraction of fiat money...
Read MoreRomanian government to grant credit lines to companies
In light of the Covid-19 crisis, the Ministry of Public Finance of Romania has announced that it will guarantee up to 80% of the value of the financing granted to SMEs. Details of the credit lines to...
Read MoreCyprus Support Scheme against Covid-19 outbreak
On March 15th, 2020, the Government of the Republic of Cyprus unveiled new measures to combat the impact cause by the Covid-19 crisis. Some of these measures include: “Special Leave” allowance...
Read MoreCyprus Government announces COVID-19 measures
On Sunday, March 15th 2020, the Cypriot Government unveiled a series of measures aimed at assisting small and medium sized companies address the adverse effects of the Covid-19 crisis. Some of the...
Read MoreAMENDMENTS TO THE GREEK GOLDEN VISA PROGRAM; INVESTMENT OPPORTUNITIES OUTSIDE ATTICA &...
The Greek Parliament, aiming at the revitalization of the real estate market nationwide, ratified the Law 4635/2019 which among other important provisions on investing in Greece, includes significant...
Read MoreLatest Changes of the Albanian Income Tax Law
At the end 2019, the Albanian Government proposed a draft law to the Albanian Parliament, introducing several changes to the Income Tax Law. This draft law was approved by the Albanian Parliament...
Read MoreHome Отмена визы в США для владельцев кипрского
Согласно последним новостям, опубликованным в издании «Cyprus Mail», может быть положительное развитие в...
Read MoreCyprus extends deadline for payment of overdue taxes
Cypriot taxpayers will be pleased to hear that the settlement of overdue taxes – by providing a relief on penalties and interest – incurred up to the year 2015 has now been extended until...
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