We would like to inform our Clients that we are in the competent position to assist them in purchasing / selling their immovable property (House, Flat, Plot, Land) using payments via cryptocurrencies. Around the globe, the current tendency for Companies is to accept cryptocurrencies as the payment means for their goods / services. As a result,...
The Company Law Cap. 113 is about to undergo new amendments in relation to the Companies' financial reporting duties, which will take effect in January, 2023. More precisely, the Parliament approved that Companies with less than €200,000 in turnover and less than €500,000 in net assets should submit their financial accounts for "review" by the Auditor,...
Undoubtedly, Cyprus through the years implemented many attractive packages for Companies incorporating or establishing their business activities in its region. On the 01st day of January 2022, and by following a series of actions, the Government of the Republic of Cyprus implemented a new plan and simplified version of the “Fast Track Business Activation Mechanism”,...
The Cyprus Digital Nomad Visa Scheme (hereinafter referred to as the “Scheme”) aims to place Cyprus in the center of electronic services and to develop the Cypriot business ecosystem. Under the Scheme, nationals from non-EU or non-EEA countries are entitled to reside temporarily in Cyprus, provided that they can perform their duties by working remotely with...
Based on article 10 (1) of Cap. 149 - Contract Law in Cyprus, contracts / agreements must have the following elements to be considered valid: ▪︎ Free will / consent of both Parties / capacity to contract; ▪︎ Offer and acceptance; ▪︎ Lawful consideration and lawful object (not being expressly declared by the Law as void); ▪︎ Intention to...
Prior to registering a Tradename, a name application must be submitted with the Registrar of Companies (hereinafter referred to as the "Registrar").The application based on the Registrar's criteria, may be either accepted or rejected. Once the proposed name gets accepted, the Form "EE1" must be submitted with the Registrar. The procedure is considered complete when the...
“Antiparochi” (which is considered as an ordinary sale for the purposes of the Land Registry) is a very special transaction that is concluded among the Owner of an immovable property and a Developer who shall develop the real estate Project, in return of certain number of units to the Owner. For such a transaction to be...
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. The Registrar of Companies announced that the submission period of Beneficial Owners data and other Legal Entities is extended to 31.07.2022. This is one of our Firm’s provided services and comprises...
Our Firm offers support for the participation of bidders in electronic auctions (e-auctions). With us, you can learn the steps you need to follow to register as a Bidder and to participate in online auctions. Call us at 99-550076 or email us at in info@gclawfirm.eu or info@fidustars.com
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 / or your car needs to be repaired, we can assist you claim compensations that correspond to...
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 and...
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...
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 other document pertaining to the incorporation, registration, organisation, reorganisation or dissolution of any...
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 on the rise, whereas new investment opportunities are been continuously created in traditional and emerging...
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 relevant document was initially drafted. The maximum amount payable as Stamp...
