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Michalaki Pitsillidou Rozen Law Firm > Articles posted by admin (Page 6)

Procedure of Civil Partnership

The entrance into a Civil Partnership, under the Civil Union Law of 2015 (the Adoption Law is excluded) has respective effects and consequences with the marriage and any reference in any legislation of the Republic of Cyprus to "spouse" shall be interpreted as a reference to "civil partner". The entrance into a Civil Partnership takes place at the District Office of the District, where one of the persons concerned resides, by reporting in person upon appointment before the District Officer, who acts in his capacity as a Registrar. In case the persons concerned do not permanently reside in Cyprus, they can...

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Immigration Law In Cyprus

PASSPORT REQUIREMENTS All persons except the following require passports valid for at least 3 months beyond the period of intended stay for visitors not requiring visas and 6 months for those requiring visas: citizens of European Union countries, Iceland, Liechtenstein, Norway and Switzerland holding a valid national identity card with the bearer’s photograph; holders of Laissez-passer issued by the United Nations (nationals of Egypt and Israel can enter Cyprus with a Laissez-passer if they are holding an entry permit previously obtained by the Immigration Department in Nicosia); holders of travel documents issued by the Cypriot Government to the Cypriot citizens; holders...

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Cyprus Offshore Banking Unit

An Offshore Banking Unit (now known as an International Banking Unit - IBU) is a Cypriot limited liability company, or a branch of a foreign bank, which has obtained a banking license from the Central Bank. In Cyprus, non-Cypriot banks are offered the status of IBU, being restricted to banking operations with non-residents in foreign currencies, and with Cyprus-registered non-resident companies and their expatriate staff. The Central Bank issues IBU licenses and normally requires fully-staffed operation. If the IBU is controlled from abroad, and there is no local permanent establishment, there will be no profits tax. The following forms are permitted: Branches...

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Cyprus is still the TOP CHOICE for Corporate

The main points of the Troika bail –out/ bail-in plan for Cyprus have been finalized, putting an end to the continuous speculations of commentators. The bail-out/ bail-in plan focuses on minimizing the expenses of the public domain by, among other provisions, reducing salaries, freezing hiring and terminating the provision for thirteenth salary. Another main section of the bail-out plan has been the increase of public income by an increase of the taxes of luxury products such as alcoholic drinks and smoke products, an increase which again will affect only locals. An increase of the corporate tax by 2,5% is anticipated within...

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ADVANTAGES OF COMPANY REGISTRATION IN CYPRUS

Cyprus is one of the most popular locations in Europe for registering companies. A combination of factors, such as the favourable tax legislation, the straightforward corporate legislation and the country’s stable tax policy has led Cyprus into becoming an attractive jurisdiction, in which thousands of new companies set up with the Registrar of Companies every year, making the country a significant international financial centre. Cyprus has an effective and developed legal system and, as a former British colony, it is a common law country with business legislation similar to that of the UK. As Cyprus is a European Union member, a...

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Considerations when creating a company in Cyprus

Cyprus undoubtedly offers a considerably advantageous base for any business. Offering a highly beneficial taxation system (which boasts one of the lowest rates of tax on corporate profits in Europe at 10%; the exemption from corporate tax of interest income, dividend income and profits from disposal of securities and a host of double taxation treaties upon which to rely) and located at a geographically favorable position, it is little wonder that Cyprus enjoys a reputation as an international business centre of excellence. However, before a company can be created, certain fundamental decisions need to be made about the kind of legal...

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International interest in Cyprus

Analyzing the monthly searches on particular words, finding key words people people mostly use and studying the analytics of our sites over almost a decade now has taught us a lot about what international visitors seeks in Cyprus. Cyprus is useful  way is interpreted by ability investors. Time after time the net searches range primarily based on the instances.  Earlier than the haircut in Cyprus 2013 there has been a massive interest in corporate services which ended in hundreds of global searches in key phrases including tax heaven in Cyprus, offshore offerings in Cyprus and different associated keywords. After the haircut, a...

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Business Name Registration in Cyprus

What is a Business or Trade Name? A business or trade  name is the term used to denote a trading call, which isn't always a legal entity. Business names can be registered in Cyprus under the provisions of the partnerships and enterprise names regulation, cap 116. Who can register a business name? a single person or a legal entity. That's the procedure for the registration of a business name? Firstly, an application for name approval should be filed at the Registrar of Companies’ Office in Cyprus. The name is subject to the approval of the Registrar of Companies, who may refuse to register it...

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Invest at the right time and place

All interested in making an investment in Cyprus recognize approximately the numerous tax and company advantages that Cyprus jurisdiction presents. In this text we will spotlight a few most important possibilities that blessings traders considering that they take benefit of the right time and place. After the Cyprus bail in, the government has carried out a very attractive citizenship package deal which minimized the direct funding to the island from 3 to two million.  The immovable assets tax has been abolished, the transfer expenses had been reduced and the forms has been facilitated so as for the investor to acquire the...

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Why To Invest In Cyprus

Why To Invest In Cyprus Cyprus is the third largest island in the mediterranean sea with an area of 9.251 km² and a population of round 840.000 people. Due to its strategic place, Cyprus has end up a completely famous visitor vacation spot and an excellent place for attracting international businesses. The island has a sophisticated economic system and a high human improvement index (hdi) With regards to living and quality of life as it uniquely offers an enviable combination of climate, business and culture.. Cyprus is known as a safe and satisfactory area to live, with one of the lowest crime...

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