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Cysec Implements Strategic Enforcement Measures Amid Enhanced Regulatory Oversight

by THEFUTURE.TEAM
August 11, 2025

Suspension of Triangleview Investments Ltd

The Cyprus Securities and Exchange Commission (Cysec) has taken decisive action by suspending the authorization of Triangleview Investments Ltd. The regulator cited multiple infractions including breaches of anti‐money laundering provisions, inadequate board and management structures, and a failure to meet organizational obligations. The suspension, effective immediately, prevents the firm from offering investment services, entering new business arrangements, or seeking new clients. However, the company is permitted to conclude ongoing transactions and return funds and instruments to its existing client base, provided compliance measures are implemented within a two‐month period.

Administrative Fine for Lydya Financial Ltd

In another enforcement move, Cysec imposed an administrative fine of €100 on Lydya Financial Ltd for non-compliance with the QST-CIF Form submission requirements for the first quarter of 2025. This fine underscores the regulator’s commitment to operational transparency and adherence to prescribed circulars, specifically addressing the obligations under article 56(4) of the Cysec Law.

Revocation of Previous Rulings for Latnodo Ltd And Cossfort Ltd

On July 21, 2025, Cysec re-evaluated past decisions affecting Latnodo Ltd and Cossfort Ltd, which were initially found to be non-compliant with section 32(3) of the Cysec Law and were subject to earlier administrative penalties. Following a reassessment, the regulator revoked these decisions and removed related announcements from its website, thereby correcting the regulatory record.

Exemption Granted to Albacon Ventures Ltd

In a notable development on August 4, 2025, Cysec granted Albacon Ventures Ltd an exemption from the mandatory public takeover offer requirement in connection with its proposed acquisition of 244,679 ordinary shares in Astarta Holding Plc. The exemption was justified by the fact that the proposed acquisition constitutes less than one percent of Astarta Holding Plc’s total voting rights. Conditions of the exemption stipulate that the acquisition must be finalized within twelve months and that adjustments for any changes in the company’s voting shares will be reflected in the one percent threshold. Furthermore, any subsequent share disposals by Albacon Ventures or its affiliate, Viktor Ivanchyk, will nullify the exemption for additional acquisitions.

Conclusion

These varied regulatory actions highlight Cysec’s rigorous oversight in maintaining market integrity and investor protection. By enforcing compliance measures and recalibrating earlier decisions, the regulator reinforces its commitment to a transparent and robust investment framework in Cyprus.

EU E-Commerce VAT Systems Generate €257.9 Million Revenue for Cyprus in 2024

by THEFUTURE.TEAM
August 11, 2025

Robust Revenue Growth Through Streamlined VAT Collection

Cyprus has demonstrated a significant fiscal boost in 2024 with €257.9 million generated from the European Union’s e-commerce VAT systems, according to Tax Commissioner Sotiris Markides. This impressive performance underscores the effectiveness of the One Stop Shop (OSS) and Import One Stop Shop (IOSS) frameworks in simplifying cross-border tax compliance.

Simplified Procedures for EU and Non-EU Businesses

The OSS system allows Cyprus-registered businesses to streamline VAT declaration and payment on sales to consumers in other EU countries. Companies simply register on the local OSS platform, apply the consumer’s VAT rate, aggregate their submissions quarterly or monthly, and remit a single consolidated payment. Subsequently, Cyprus allocates the appropriate share to each respective EU country. This efficient process extends to non-EU sellers as well, who can have their intra-EU distance sales managed under the Union Scheme.

Breakdown of VAT Revenue Streams

Last year’s declarations under the various schemes illustrate the system’s broad reach: €217.9 million was collected via the Union Scheme, €36.9 million through the Non-Union Scheme, and €3.1 million via the Import Scheme. While the Union Scheme caters to both EU and non-EU sellers engaging in distance sales, the Non-Union Scheme specifically accommodates non-EU firms delivering services to EU consumers. Furthermore, the Import Scheme targets goods valued at less than €150 that are imported from outside the EU.

Implications and Broader Impact

Implemented in July 2021 as an evolution from the more limited MOSS system, these reforms have not only consolidated tax collection through an expansive OSS but also integrated the IOSS for low-value imports. By designating certain online marketplaces as “deemed suppliers,” the new framework ensures that VAT collection is both efficient and equitable. Across the EU, these mechanisms have generated over €33 billion in VAT revenues in 2024, reflecting a successful effort to simplify tax compliance, reduce administrative burdens, and promote fair taxation across the bloc.

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