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A car accident may cause many consequences – some of them might be serious and make your health and safety vulnerable. When the cause of the accident is not your fault and you are dealing with medical issues and /… Read more

Based on the provisions 4 and 5 of the Directive Κ.Δ.Π. 112/2021 regarding the Ultimate Beneficial Owners (“UBO Registry“), every Cyprus Company is obliged to report the details of its Ultimate Beneficial Owner(s) with the UBO Registry until the 12th day of March, 2022. Non-submission will set the Company liable of sanctions. We can assist you… Read more

It is prudent that you are diligent enough when it comes to the selling or purchasing real estate. Certain steps for you to have in mind: 1) Negotiate the commercial terms;2) Draft a Memorandum of Understanding / Reservation Agreement / Sale Agreement;3) Pay the stamp duties;4) Lodge the Sale Agreement with the Land Registry;5) Apply for the Aliens’ Permit;6) Get… Read more

According to Advocates Law Cap 2, article 2 (1) (iv), only a “practicing Advocate may deal with the drawing, reviewing, amending of any Memorandum or Articles of Association of a Company of any form or any application, report, statement, affidavit, decision or… Read more

The Republic of Cyprus has an open economy, characterized by a remarkable resilience over the years. As we are reaching the yearend 2021 and by looking at the recent past, we can confidently state that the foreign direct investments are… Read more

According to the Stamp Duty Law (19/1963), stamp duties are paid in Cyprus, only if: (a) the contemplated asset is situated in the Republic of Cyprus; or (b) the contemplated matters / or things will take place in Cyprus, irrespective of the place where the… Read more

If you are the Purchaser or the Seller of real estate in Cyprus, you should know your rights / obligations and be rather diligent as to the transaction you are entering into. The Specific Performance Law (81(I)/2011) safeguards the Purchaser of an… Read more

Tax residents and Companies registered in Cyprus are subject to CGT when disposing their immovable property. CGT is calculated as the difference (profit) between the sales proceeds and the initial cost of the property when purchased. Particularly, it is imposed at the rate… Read more

This is a Permit issued by the Council of Ministers in Cyprus, as stipulated in article 3 of the  Acquisition of Immovable Property (Aliens) Law Cap. 109. According to the Law, third country nationals (i.e. non E.U citizens) are imposed with… Read more