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The New UAE Commercial Companies Law
On July 1st 2015 the new Commercial Companies Law (“New CCL”) in the UAE (Federal Law No. 2 of 2015) concerning Commercial Companies entered into force, replacing the existing Federal Law No.8 of 1984 for Commercial Companies (“Old CCL”). The main objective of the New CLL is to develop the UAE’s global standard market and business environment, raise levels of corporate governance, protect shareholders and promote the social responsibility of the companies. Read more
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Advantages of Cyprus For Iranian Business
Cyprus can be a significant gateway for Iranian business and capital. It can be used as a bridge for EU inbound and outbound investments. Cyprus offers significant tax advantages for businesses, including: 12,5% corporation tax (the lowest in EU), exemption from tax on dividend income, profits from shares and securities, no tax on profits from Permanent Establishment (PE), no withholding tax on the repatriation of income as dividends, interest and royalties and an extensive double tax treaties network. Further, Recent tax reforms covering non-Cypriot individuals are very attractive for businessmen wishing to set-up business and become tax residents of Cyprus. is also possible for a non-Cypriot citizen who meets certain basic economic criteria, either personally or through a company in which he or she participates as a shareholder to acquire the Cypriot citizenship. Read more
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