09 April

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Cyprus as an International Business Center

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The Cyprus Favorable Tax Regime Cyprus has developed one of the most attractive taxation systems in Europe. The fact that Cyprus signed double tax treaties with almost 50 countries in order to avoid double taxation of foreign investors (http://www.mof.gov.cy/mof/mof.nsf/page26_en/page26_en?OpenDocument) combined with one of the lowest European corporate taxes make Cyprus an investment destination in its own right. one of the lowest corporate tax rate in the European Union at 12.5% extensive double tax treaties network with almost 50 countries, enabling lower withholding tax rates on dividend or other income received from the subsidiaries abroad no withholding tax on dividend income received from subsidiary...

08 April

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Registration of an Investment Company – Forex in Cyprus

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Registration of an Investment Company - Forex in Cyprus Here at iMPK GLOBAL BUSINESS LAW FIRM – Cyprus Lawyers, Any company wishing to be establishedas an FX trading (foreign exchange), has to be licensed by ‘Cysec’, the Cyprus Securities and Exchange Commission. FX Company in Cyprus provides benefits such as: Low tax regime Simple application procedure and, Low application fees compared to other EU jurisdictions. According to the Law of the Investment Services the Exercise of Investment Activities and the Operation of Regulated Markets and Other Related Matters (N. 144 (1)/2007, Article 10) - for a Forex Company in Cyprus the following are the...

07 April

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Belize Forex License – Procedure and Requirements Cyprus Lawyers

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Regulatory Body in Belize The regulatory body for International Financial Business is The International Financial Services Commission in Belize (IFSC). An International Business Company (IBC), having its registered office in Belize and provided it holds a respective license, can carry out a range of financial services, including trading in foreign exchange, in securities and financial instruments as well as brokerage, advisory and consultancy services. Types of Licenses The International Financial Services Commission (Licensing) Regulations 2007 provide for the Director-General of the Commission to approve licenses to enable a legal entity to provide, carry on, transact, or hold itself out as providing, carrying on,...

06 April

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Alternative Investment Funds – Cyprus CYSEC

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Alternative Investment Funds – Cyprus CYSEC Further to the announcement of the Cyprus Securities and Exchange Commission (the “Commission”) dated 21.10.2014 on the publication of Circular CI131-2014-30 of the SEC concerning the Compliance of the International Collective InvestmentSchemes with the Alternative Investment Law of 2014 (the “Law”), the CySEC is issuing this announcement to inform all market participants. It is reminded that the Law regulates the establishment and operation of the Alternative Investment Funds (AIF) in the Republic and replaces the International Collective Investment Schemes Laws of 1999 and 2000 (“ICIS Laws”). Pursuant to Article 120(1) of the Law, which came into...

05 April

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Cyprus Permanent Residence Requirements

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Cyprus Permanent Residence Why apply for a Cyprus Permanent Residency ? The category F 6 (2) immigration permit allows to the Non-EU national the right to reside in Cyprus. This right excempts the holders of Cyprus Permanent Residence status from immigration entry procedures – visitors visa. The family through this process can also obtain the Cyprus Permanent Residency status. Important Information: The permit is granted for an indefinite duration Holders of this Permit are not allowed to work in Cyprus It does not concern EU citizens Minor children till the age of 18 years old can be granted the permit (In cases of...

04 April

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Michalaki, Pitsillidou Law Firm Provides Legal Support in Oil and Gas Modular Refineries projects in Libya, Iran and U.A.E.

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Michalaki, Pitsillidou Law Firm with its qualified team of lawyers in oil and gas continue to provide exclusive legal support to Inter-M Traders and Black Hawk Partners Inc in providing Modular Refineries in UAE, Libya and Iran. Few word about Modular Refinery : Modular refinery can be built in 6,000 bpd modules Initial capacity will be 6,000 bpd with anticipated growth to 120,000 bpd (Can be bigger) Modular systems are currently operational World Wide Due to modular capacity, commissioning can begin within 10 months. Modular oil refinery will be delivered in 5 modular tranches.Input & Output -120,000 bpd Annual crude processing of 36 million barrels Output per annual Low Sulphur...

03 April

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Cyprus Permanent Residence – Simplification, Clarification and Speedy Responce

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The Council of Ministers with a decision taken 22nd August 2012, allows the Minister of Interior to take a decision on category F immigration permits applications (Permanent Residency) without the application having to go through the 4-member committee that has been deciding up to now, thereby speeding the process. The criteria for a fast and unilateral decision by the Minister are as follows: The applicant has to prove annual sufficient and secure income from abroad of at least €30,000= (from income, interest, rentals, dividends, pensions, etc.) plus €5.000= for any dependent member of the family. To purchase a home or...

30 March

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Πότε Ακίνητη Ιδιοκτησία Μπορεί να Χωριστεί σε Μικρότερα Τεμάχια;

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Πότε Ακίνητη Ιδιοκτησία Μπορεί να Χωριστεί σε Μικρότερα Τεμάχια; Μια ακίνητη ιδιοκτησία δεν μπορεί να διαχωριστεί ή να διαιρεθεί σε μικρότερα τεμάχια εκτός σύμφωνα με τις διατάξεις του άρθρου 27 του Κεφ. 224. Σύμφωνα λοιπόν με τις διατάξεις του άρθρου αυτού: (α)Ακίνητη ιδιοκτησία που είναι κατάλληλη για οικοπεδικούς σκοπούς ή οικοδομή μπορεί να διαιρεθεί σε ξεχωριστά τεμάχια σύμφωνα με τις διατάξεις οποιουδήποτε εκάστοτε σε ισχύ Νόμου ή Κανονισμού. Ο Περί Ρυθμίσεως Οδών και Οικοδομών Νόμος και οι σχετικοί Κανονισμοί, ο Περί Πολεοδομίας Νόμος και οι σχετικοί Κανονισμοί και άλλοι σχετικοί Νόμοι και Κανονισμοί, προβλέπουν για την διαίρεση τέτοιας ακίνητης ιδιοκτησίας και για τις διατάξεις...

29 March

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Become a Cypriot

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Become a Cypriot According to the Cyprus laws, the non-Europeans investing in the economy of Cyprus, have the opportunity to become a Cyprus (European) resident. Our team provides a service package for the submission of investment citizenship applications. The programme requires the amount of €2mln to be invested in Cyprus for 3 years. The citizenship is granted within just 3 months! Advantages of the programme Our passport is full European. Investor and his family can freely reside, work, study, have business in any of the EU-member states. An express procedure - 3 months to be approved (the fastest in Europe). Investment minimum €2 mln...

28 March

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Register Company in Mauritius with Michalaki, Pitsillidou Law Firm

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Why to register your in company in Mauritius? Mauritius has more than 3 decades of stable economic growdtth Mauritius is considered a political stable company Mauritius has an impressive track record in foreign investments It is considered the most business friendly country in Africa Skilled workforce and billingual country ( English and French ) Mauritius welcomes foreign investments OECD recognizes Mauritius as a whitelist Jurisdiction Mauritius is a member of Internation recognized bodies like IOSCO and FATF Great communications and physical infrastructure It is considered a secured investment location Recognized International Arbitration center For more information and guidance get in touch with our lawyers...

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