St James Management Services Ltd http://www.stjames.com.cy Site of company St James Management Services Ltd Mon, 04 Jun 2007 14:12:09 +0000 http://wordpress.org/?v=2.3.2 en Cyprus Offshore Activities http://www.stjames.com.cy/?p=15 http://www.stjames.com.cy/?p=15#comments Sun, 11 Feb 2007 20:02:51 +0000 michael http://stepanoff.org/test/?p=15 Offshore entities may not carry out any trading activities in Cyprus with Cypriot residents. The only permissible activities within Cyprus are those compatible with the exercise of management and control.

NB: See above for new rules applying to Cyprus companies from 2003.

Certain borderline activities may be carried on with express Central Bank permission, such as:

  • Transit trade through Cyprus
  • Repackaging for re-export, within a tariff classification
  • Printing of foreign-language magazines or books for distribution abroad
  • Storage, repair or maintenance of goods to be used or sold outside Cyprus
  • Establishment of a private bonded warehouse for the display of foreign-made goods intended for re-export.
  • Sales activities, provided these do not result in sales in Cyprus or to Cypriot companies.
]]> http://www.stjames.com.cy/?feed=rss2&p=15 Cyprus Exchange Control http://www.stjames.com.cy/?p=14 http://www.stjames.com.cy/?p=14#comments Sun, 11 Feb 2007 19:57:32 +0000 michael http://stepanoff.org/test/?p=14 Once Central Bank consent has been received for offshore status, the entity is non-resident with complete freedom from Cyprus exchange control restrictions; thus it may maintain bank accounts inside or outside Cyprus in any currency and use its funds as it chooses.

By 2004, almost exchange control restrictions had been removed by the Central Bank as part of EU accession.

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