Introduction To "Shell Companies" - SEPAGA's Approach

On 2nd November 2018 the Central Bank of Cyprus (“CBC”) issued the revised Circular named “Shell companies / entities” into which there was a definition and clarification as to which legal entities are considered to fall under that category and under which circumstances a Cyprus Bank Institution, or Electronic Money Institution is permitted to engage in business relations with such entities.
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Whistle Blowing

Whistleblowing is when an employee, contractor or suppliers decides to pass by the normal management channels and procedures in order to report suspected wrongdoings at work environment, i.e. speaking out in a confidential matter. It is becoming an increasingly significant element in efforts to make both state and private power accountable to the public. It is considered to be an essential element in a healthy corporate culture and should be part of the internal control environment.

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SEPAGA's New Home - Meet Our New Offices

The interiors of your company should reflect your company’s image and personality and must inspire employees and clients alike.

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The 5th AML Directive

The 5th Money Laundering Directive (5AMLD) will come into force on the 10th January 2020.

The impact of this Directive is predicted to be significant both on the finance and corporate world. Let’s see below which areas will be mostly affected / amended and how…
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