Roundtable event ‘The new investment programme of Cyprus: how to receive the most from the programme and what the potential tax consequences may be for Russian citizens’

On 30 November, Maxima Legal together with its Cypriot partners, law firm Antis Triantafyllides & Sons LLC, organised a roundtable event on the topic of ‘New investment programme of Cyprus: how to receive the most from the programme and what the potential tax consequences may be for Russian citizens’.

Recently migration has been playing an increasingly important role in the management of wealthy individuals’ finances; migration can appeal as an opportunity not only to improve quality of life but can also be used to safeguard assets and earnings. Relocation abroad remains a viable, and if undertaken in a considered way, a profitable investment for wealthy individuals.

Vladimir Kilinkarov, Partner at Maxima Legal, moderated the event. Robert Houchill, Associate at Maxima Legal, made his presentation first and provided an overview of the immigration services offered by the Private Wealth practice at Maxima Legal.

An overview of the new investment programme of Cyprus was presented by Stelios Triantafyllides, Partner at Antis Triantafyllides & Sons LLC and Nicolas Sparsis, Managing Director at Antis Triantafyllides & Sons LLC. Andreas Santis, Managing Director at NCN Capital Inc., an International Investment Fund, described the investment opportunities in Cyprus in the real estate sector.

Elena Kilinkarova, Consultant and Head of the Tax department at Maxima Legal, commented on the tax aspects for Russians connected with obtaining Cypriot residency and citizenship.

At the end of the event, the participants discussed the latest information regarding the international automatic exchange of tax information (Common Reporting Standing – CRS).

Participants in the event included businesspeople and managers of banking services for HNW individuals.