Archive for 'News'

Cyprus Commences 3rd Offshore Licensing Round

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Cyprus Commences 3rd Offshore Licensing Round

 

 

Cyprus launched the third offshore licensing round offering Blocks 6, 8, and 10 in its Exclusive Economic Zone. The energy Minister of Cyprus noted that these blocks were selected because they are largely unexplored and the data available suggests they could contain carbonate structures similar to the recent Zhor gas discovery offshore Egypt. He also mentioned that geology was an important factor in the government’s decision to offer ...

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CITIZENSHIP BY INVESTMENT IMPORTANT UPDATE – NEW CRITERIA AND PROCEDURE

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On the 13th of September 2016, the Council of Ministers has taken a decision approving revised criteria for the Cyprus Citizenship by Investment Scheme.

THE AMENDMENTS
• Reduction of the investment amount from €5.000.000 to €2.000.000 plus €500.000 for residential property.
• Bank deposits criterion is now abolished.
• Broader range of investments is now possible.

THEREFORE THE CRITERIA AND PROCEDURE ARE NOW AS FOLLOWS:

1. INVESTMENT IN REAL ESTATE
• The applicant should make an investment of at least €2.000.0000 for the purchase or construction of ...

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Cyprus-Iran Double Taxation Treaty August 2015

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Cyprus signs a Treaty with Iran avoiding Double Taxation and Tax Evasion

Cyprus on the 4th of August 2015 has come to an agreement signing a Double Taxation Treaty with Iran.

Signing this treaty, Cyprus finds itself in a very promising position in terms of investments going into Iran but also regarding investments coming from Iran. The Treaty is based upon the OECD model tax convention and aims to alleviate the harmful effects of double taxation and promote international exchange of goods ...

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OECD Global Forum on Transparency and Exchange of Information for Tax Purposes rates Cyprus as “largely compliant”

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Cyprus rated Largely Compliant by the Global Forum.

On October 30th 2015, the OECD has released the results of the Global Forum on Transparency and Exchange of Information for Tax Purposes rating Cyprus from non compliant to “Largely Compliant”.

After Phase 2 assessment, as carried out during mid-2013, Cyprus was assessed as “non-compliant” in two out of the ten areas evaluated, and was rated overall as “non-compliant”.

However, the Forum has approved supplementary reports for Cyprus, that had been previously been rated as ...

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New practice on the protection of information

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Dear Clients/Colleagues

Our firm aims to keep you informed about recent developments in law and any other information we believe will hold your interest and affect your business conduct.

Cyprus has been an established business centre providing high quality services throughout the years. The authorities have been able to maintain the security of Cypriot Companies at high levels, in terms of information and execution of changes.

In order to further strengthen this, a new measure has been introduced and been in effect since ...

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Corporate and Commercial Law

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Corporate and Commercial Law

We handle all types of company and commercial matters for public and private companies, local or offshore, partnerships and individuals. We act on company formations, IPOs, reconstructions, takeovers and amalgamations, and we are experienced in dealing with the taxation aspects of all such matters.

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General Litigation

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General Litigation

We try to ensure a broad approach to litigious matters but cases often fall into one of the following categories: admirality, matrimonial, corporate and commercial law, debt collection, landlord and tenant, personal injury and accidents claim.

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Energy Law

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Energy Law

We may advise on the legal framework and the commercial legal issues of projects, especially in relation to energy produced by renewable sources (Wind parks, solar energy, biofuel).

 

 

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Shipping Law

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Shipping Law

Our office represents a considerable percentage of the Cyprus fleet and ship registration. Ship management companies are finding Cyprus increasingly attractive as a base for managing ships under various flags.

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