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Amendments to the British Virgin Islands (BVI) Business Companies Act

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The BVI Business Companies (Amendment) Act 2022 (“BCA Amendment Act”) and the associated BVI Business Companies (Amendment) Regulations, 2022 (“BCA Regulations Amendment”) have been introduced on January 1st, 2023. Under the BCA Amendment Act and the BCA Regulations Amendment, the BVI Business Companies Act was amended, with the sole purpose to meet international standards on transparency and enhancing its reputation by combatting financial crimes. For more info click here ...

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Amendments to the Cyprus Permanent Residence Scheme according to Regulation 6(2) of the Aliens and Immigration Regulations (Permanent Residence Permit – Fast Track)

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The Council of Ministers approved a proposal by the Ministry of Interior to revise the criteria for granting Permanent residency under the provisions of Regulation 6(2) of the Aliens and Immigration Regulation (Permanent Residence Permit - Fast Track). As per the Minister of Interior, Mr. Constantinos Ioannou, the Ministry of Interior is aware of the risks involved in the implementation of these Schemes and the main aim of these amendments is to establish more solid and stricter criteria to grant the Permanent residency, to improve any distortions and to establish a mechanism which will monitor that the applicant will be in...

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Cyprus Shipping Limited Liability Company

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Cyprus Shipping Limited Liability Company The Shipping Limited Liability Company Law of 2022 (SLLC Law) was introduced in Cyprus in October 2022. Under the SLLC law a new ship-owning legal entity, the Shipping Limited Liability Company (SLLC) has been established, with sole business purpose the ownership and operation in relation to vessels under Cyprus Flag. The new SLLC Law creates a single framework specialised for Ship-owning companies with vessels under Cyprus flag and includes more simplified and straight - forward procedures in the day-to-day operations of the company. Main Provisions of the SLLC Law Shipping Limited Liability Companies Law (161(1)/2022) Companies Law (Cap....

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Our Partner, Giorgos Avraamides participated as a speaker in the Great Britain – Cyprus Business Association’s International Business Conference in association with Spector Constant & Williams.

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Our Partner, Giorgos Avraamides participated as a speaker in the Great Britain – Cyprus Business Association’s International Business Conference titled “Cyprus - An Attractive Investment Hub 2022 & London – A Global Financial & Investment Centre” which took place in London on 10th May 2022. His presentation focused on Cyprus as a destination for headquarter establishment and relocation based on the Government’s action plan for 2022. The International Business Conference also covered topics in relation to the Fund Industry in Cyprus, Real Estate, Renewable Energy, Metaverse, Crypto tokenization, Education as well as the Medical sector. If you are interested to watch the full conference,...

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Our Senior Lawyer and Team Leader of the Legal & Financial Services Department, Panayiotis A. Koussis participated as a speaker in the Great Britain – Cyprus Business Association’s International Business Conference.

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Our Senior Lawyer and Team Leader of the Legal & Financial Services Department, Panayiotis A. Koussis participated as a speaker in the Great Britain – Cyprus Business Association’s International Business Conference titled “Cyprus - An Attractive Investment Hub 2022 & London – A Global Financial & Investment Centre” which took place in London on 10th May 2022. His panel focused on Crypto, tokenisation & the potential for business. The International Business Conference also covered topics in relation to the Fund Industry in Cyprus, Real Estate, Renewable Energy, Metaverse, Crypto tokenization, Education as well as the Medical sector. If you are interested to watch...

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Cyprus ratifies Double Tax Treaty with Jordan

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On 31 December 2021 Cyprus ratified the first ever concluded Double Tax Treaty with the Hashemite Kingdom of Jordan (the “Treaty”). The Treaty was signed on 17 December 2021 where it is based on both the OECD Model Tax Convention on Income and on Capital and the United Nations Model Double Taxation Convention. The Treaty incorporates the Base Erosion and Profit Shifting (“BEPS”) minimum standards. The Treaty will be in effect in the year following the year in which the ratification process in the Hashemite Kingdom of Jordan is completed. Assuming the ratification process is completed during the current year, the Treaty...

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PCV LLC participated in the panel discussion of the International Business Conference that took place in London

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[caption id="attachment_5072" align="alignright" width="160"] PCV LLC Senior Partner Giorgos Avraamides[/caption] [caption id="attachment_5073" align="alignleft" width="192"] PCV LLC Managing Partner Alexandra Pelaghias-Christodoulou and H.E.Mr. Nicos Nouris[/caption] On 23rd November 2021 our law firm participated in the panel discussion of the International Business Conference that took place in London, UK organised by the Great Britain - Cyprus Business Association in association with Spector Constant & Williams. Congratulations to our managing partner Alexandra Pelaghias-Christodoulou as well as to our newly qualified partner Giorgos Avraamides for their participation and panel discussion on the topic Business Orientation: Cyprus 2021. For more info please click the link: www.gbcy.business/events....

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Action Plan to Attract Companies to Operate and/or Expand their Activities in Cyprus Presented by the Ministry of Finance

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Action Plan to Attract Companies to Operate and/or Expand their Activities in Cyprus Presented by the Ministry of Finance The Minister of of Finance Mr. Konstantinos Petridis on behalf of the Republic of Cyprus, presented on 15th of October 2021 the Action Plan/Strategy for attracting companies to expand their activities in Cyprus. The incentives given include residence, employment, taxation as well as simplification and digitisation of procedures in order to promote the Republic of Cyprus as an attractive investment destination. The Action Plan is a comprehensive Strategy including twelve (12) targeted actions in five (5) pillars taking into account the best practices from...

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On 14th October 2021 our senior lawyer, Panayiotis A. Koussis participated as one of the speakers in the 2nd Conference of the Technology Committee of the Cyprus Bar Association on “Law & Technology: Challenges and Practical Applications”.

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On 14th October 2021 our senior lawyer, Panayiotis A. Koussis participated as one of the speakers in the 2nd Conference of the Technology Committee of the Cyprus Bar Association on “Law & Technology: Challenges and Practical Applications”. His presentation was focused on the Introduction of Cryproasset Service Providers (CASPs) in Cyprus after the enactment of the EU Directive to national law. The conference also covered topics in relation to Cryproasset Service Providers (CASPs), Emerging Technologies and Law, eIDAS & Electronic Signatures, Digital Forensics and eDiscovery. You can download the presentation here. If you are interested in watching the full conference, you can find the...

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Τhe Minister of Transport, Communications and Works held a meeting with the Shipping and Aviation Committee of the Cyprus Bar Association represented by our CEO/Managing Partner Mrs. Alexandra Pelaghias-Christodoulou and Mr. Xenios Xenopoulos

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A meeting was held on the 27th of July at the Ministry of Transport, Communications and Works between the Minister Mr. Yiannis Karousos and the Shipping and Aviation Committee of the Cyprus Bar Association represented by Mr. Xenios Xenopoulos and Mrs. Alexandra Pelaghias-Christodoulou. The aim of the meeting was to exchange views and suggestions on how Cyprus could be an International Aviation Center. In this respect, the Shipping and Aviation Committee presented an Action Plan to the Minister stating that with the creation of an International Aviation Center in Cyprus the relevant sector will be developed and new job positions will...