Cyprus and Russia have signed a protocol to their 1998 double taxation treaty.  Hitherto the treaty has been regarded as one of the most favourable signed by Russia.  In the 2009 protocol measures will be adopted that will affect the tax treatment of the sale of Russian real estate to the possible disadvantage of Russian [...]

Cyprus differs from “tax havens” as it has an extensive network of Double Taxation Treaties with countries all over the World.
•Double taxation is avoided if a resident in one of the treaty states obtains income from the other treaty state. A double tax treaty provides reduced or even nil rates of withholding taxes on dividends, [...]