04 July

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Tax implications for individual and corporate investors in Cyprus

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The term individual investor refers to individuals who buy and sell securities for their personal account, and not for another company or organization. In contrasts, corporate investor refers to companies that invest in other companies. Cyprus tax resident but not domiciled individual investors: First, for tax on disposal, they are exempted from income tax, but for real estate Fund, 20% capital gains tax is applied in the case the Fund owns in Cyprus immovable property. They are benefited regarding tax on distribution of profits as they are exempted from income tax and SDC tax. Moreover, based on corporate income tax, they are...

03 July

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Franchise in Cyprus

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When it comes to a ‘Franchise Agreement’ with a franchisor, it should be decided what form the agreement will take. For instance, being an agreement for a limited company, a partnership or a sole trader. General or Limited partnerships: First, the companies are regulated to a significant extent by the Cyprus Companies Law, Cap 113 and the Partnerships and Business Names Law Cap 116, of the Laws of Cyprus. Also, the companies have obligations under European Laws, which will take precedent in case there is a clash between the national law and the European Law. In addition, there is a body of the...

30 June

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Compensation available by the Investor Compensation Fund in Cyprus

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Compensation available by the Investor Compensation Fund in Cyprus The Investor Compensation Fund(ICF) was established under Law 144(I)/2007) is part of the Investor Compensation Fund (ICF) for the Clients of Cyprus Investment Firms (CIFs). The ICF's aim is to protect the claims of the covered clients against those Cyprus Investment Firms that are part of the ICF. This is made by giving compensation to clients if the CIF is unable to do so, because of financial circumstances that are not likely to have a better financial performance in the near future. Role of the ICF: First, the ICF is likely to give...

29 June

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The procedure of transferring a Cyprus Property to the Land Registry Office

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Property law is the area of law that governs the various forms of ownership and tenancy in real property and in personal property, within the common law legal system. In the civil law system, there is a division between movable and immovable property. Movable property roughly corresponds to personal property, while immovable property corresponds to real estate or real property, and the associated rights and obligations. The Legal System in Cyprus according with the conveyance procedure of property, is normally based on UK legislation, but in the discipline of immovable property the Cyprus legislation and its legal system is different than the one implemented in the UK. The provisions of the Constitution of Cyprus protect the safety...

28 June

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Financial Instruments Fund

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Financial Instruments Funds are monetary contracts between parties. Financial instruments are assets that can be traded. They can also be seen as packages of capital that may be traded. Most types of financial instruments provide an efficient flow and transfer of capital all throughout the world's investors. These assets can be cash, a contractual right to deliver or receive cash or another type of financial instrument, or evidence of one's ownership of an entity. Initially, considering the profits arising from the trading in financial instruments, there is an exemption from the tax on the profits that arising from trading in qualifying...

26 June

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Top 5 Forex Trading Strategies

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Successful Forex traders stand out from others by the portfolio of Forex trading strategies they use in different situations. Seasoned traders know that a single system is not enough to produce the right number of successful trades every time. Therefore, knowing how to apply and adapt a trading strategy in accordance with all the market conditions is a key factor in becoming a profitable trader, as is an understanding of the fundamentals of economics. There are many Forex trading strategies in existence which differ in levels of complexity. Some of these rely on the use of technical charts while others rely...

23 June

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European Union Rule on Government payments Implications for Oil & Gas Industry

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European Union Rule on Government payments Implications for Oil & Gas Industry According to an estimation, about 3.5 billion people live in countries that endowed with oil, gas and mineral reserves. Despite the fact that the citizens of these countries are the legal owners of the natural resources, in many cases, governments have hindered the effective exploitation of such resources resulting in an unequal wealth distribution, poverty and lack of sustainable economic development. Evidence indicates that this happens mostly in under-developed countries, with high level of corruption and lack of transparency considered among the responsible key factors. In particular, there are several examples...

22 June

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Tax Implications Regarding ‘Real Estate Fund’ in Cyprus

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Tax Implications Regarding 'Real Estate Fund' in Cyprus Real Estate Fund is a type of mutual fund that emphasizes on investing in securities, offered by public real estate companies. Most of the real estate funds are invested in commercial and corporate properties, although they may also have investments in raw land, apartments complexes and agricultural space. Indeed, there are specific tax implications that apply for real estate funds. Initially, the rental income minus tax deductible expenses, is charged with 12.5% corporation tax. Additionally, by deducting 25% from the rental income, there is 3% SDC tax applied in the remaining income. In certain cases, though, double...

21 June

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Crime as a Social Construction

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Crime as a Social Construction It is generally held that “crime is a violent human act which is against the law and it is usually committed by people with the power to do so”. Taking into consideration the question ‘How crime is socially constructed’ it is being potential to analyze the deviant and criminal acts, of people who commit crimes which they both include a breach of social rules. To begin with, concerning social construction feedback to crime, it has been usually caused by social factors and situations. Indeed, Bucker’s, says “Rules including criminal laws, are made by people with power and enforced...

20 June

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Can consent ever be used as a defence to a charge of assault? (Causing a non-fatal injury)

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Can consent ever be used as a defence to a charge of assault? (Causing a non-fatal injury) Without any doubt, consent can be used as a defence of an assault to all non-fatal injuries against the person, nonetheless it cannot be applied to all crimes. To begin with, it is not a defence to an offence of a serious bodily harm or a murder. Indeed, consent can be easily defended to the facts involving tattooing, surgeries, any sports or any non-violent sexual relations, but not on a case of serious wounding or murder. Furthermore, a consent can be a defence to an assault...