Russia and Cyprus: Better Business Relations

From 1st January 2013, Cyprus will no longer have a place on Russia’s ‘black list’ of unsupportive tax jurisdictions, a position held since 2008 that has curbed the growth of Cyprus company registrations by Russian businesses since.

The official order for Cyprus’ removal from the list was published in the Russian gazette and marks the end of tough negotiations between the two nations that began in 2008, the year the island was added to the list. Nations like Luxembourg and Switzerland worked firmly for removal from the list, but the situation with Cyprus proved more complicated, with the island’s tax information exchange being challenged...


The Cyprus company registration process begins with choosing and receiving approval of a company name from the Registrar of Companies. A qualified legal representative must submit documents to the relevant authorities, the company is then registered with our local tax authority, and if required the company will be registered with the VAT office.

Russia and Cyprus: better business relations full text