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Michalaki Pitsillidou Rozen Law Firm > English Articles (Page 11)

CIFs : Cyprus Investment Firms

CIFs : Cyprus Investment Firms Directors’ Liabilities in the case of an offence (illegal act) Any Cyprus Investment Firm (CIF) should have at least two executive Directors on their Board of Directors. Any independent non-executive Directors will be experienced in their fields, have good reputations, use their abilities and skills to promote their company, and be well known in the business community. The majority of Directors will be Cypriot residents. Section 138 of the Investment Services and Activities Regulated Markets Law 144 (1) 2007 (the ‘law’) states that the commission may impose a fine of up to €175,000 For any person who violates the provisions...

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Redomiciliation of a Cypriot Company

Prior 2006 Cypriot companies could not switch to other Jurisdictions, this has become possible after Cyprus Parliament voted Law 124(I)/2006. In order for a company to be transferred to another Jurisdiction must satisfy two criteria. Firstly it need to obtain the consent of the Registrar and secondly it need to apply to another jurisdiction for the transfer. Get approval from the Registrar. The company’s memorandum must contain provision of allowing a company to switch jurisdictions and if it does not the company should amend the memorandum and articles of association and add the provision that the law requires. As soon as the provision...

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Investing in Forex

Investing in overseas currencies is a noticeably new street of making an investment. There are appreciably fewer people are aware about this market than there are human beings aware about several other avenues of making an investment. buying and selling foreign money, also called forex, is the most rewarding funding market that exists. There are numerous elements that make this genuine among which, a hit foreign exchange traders earn realistic income of one hundred plus percent each month. in comparison to a number of the better known funding markets together with corporate stocks, that is an remarkable go back on...

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Cyprus Forex Company Formation

Cyprus Forex Company Formation Foreign exchange trading is a new type of market where investors and investment firms conduct business. Forex is trading over the counter where buyers and sellers conduct forex transactions. Cyprus is an attractive destination for forex companies due to its tax regime and EU member status and also due to its regulations that have proved as one of the most reliable jurisdictions for FX companies. Furthermore after the changes in EU law and regulations non EU regulated FX companies cannot operate in European Union therefore the is a trend of new FX companies forming in Cyprus. Changes in the...

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Cyprus Investment Program – Family Members

The application process The decision of the Council of Ministers provides for the grant of Cypriot citizenship to the spouse as well as to the financially dependent adult children (eighteen years old and above) of the investor. The most important thing of the abovementioned is that neither the spouse, nor the children are obliged to meet any financial criteria. The decision regulates that adult children of an investor are considered as financially dependent, if they are students up to the age of 28 and are attending an institution of higher education aiming to obtain a diploma or an undergraduate or a master’s degree. In...

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Michalaki, Pitsillidou & Co Law Firm has now expanded its relationships with eight (8) more Free Zones in UAE.

Michalaki, Pitsillidou & Co Law Firm through its associates its expanding its services in eight (8) different Free Zones in UAE and this offers the flexibility of choosing the most right one for each case – always targeting the ultimate result, which is to meet the clients’ needs and wants to the best possible extent. Michalaki, Pitsillidou & Co Law Firm can offer its assistance for the following Free Zones: 1.Ras Al Khaimah (RAK) Free Trade Zone 2.Jebel Ali (JAFZA) Free Zone 3.Fujairah Creative City Free Zone 4.Dubai World Central (DWC) Free Zone 5.Dubai Silicon Oasis Free Zone 6.Dubai Healthcare City Free Zone 7.Dubai Multi Commodities Centre (DMCC) Free...

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Cyprus Investment Program on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2013

A non-Cypriot citizen, who meets one of the following economic criteria (A), either personally or through a company/ companies in which he/ she participates as a shareholder - proportionally based on the percentage of participation, or even as a high-ranking senior manager of a company/ companies that meets one of economic criteria (A), may apply for the acquisition of becoming a  Cypriot through Naturalization by exception. A high-ranking senior manager may apply, provided that he/she receives such a remuneration that generates for the Republic tax revenue of at least €100,000 for a three year period and provided that this tax has already been paid...

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Be a Cypriot with the guidance of our Cyprus Immigration Lawyers

Be a Cypriot - Our Cyprus Immigration Lawyers and Legal Consultants can assist you in the procedure   Cyprus, with its warm and stable climate and convenient geographical position, is considered a very attractive location for residence. Also, the investment landscape in Cyprus is desirable due to the islands well qualified labour force and a reliable transport and telecommunications system. Cyprus having some of the most beautiful beaches in the Mediterranean, 57 of which carry the eco-label Blue Flag, Cyprus is also the home of many historical monuments such as the Kourion Archaeological Site and the Neolithic Settlement of Choirokoitia, which are included...

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Cyprus real estate lawyers

ΣΥΝΙΔΙΟΚΤΗΣΙΑ ΣΕ ΑΔΙΑΙΡΕΤΕΣ ΜΕΡΙΔΕΣ Τι πρέπει να γνωρίζετε ; Οι συνιδιοκτησίες σε ιδανικές μερίδες είναι πολύ συνηθισμένες στο νησί μας.  Συνήθως η τέτοια συνιδιοκτησία σε ιδανικές μερίδες είναι αποτέλεσμα κληρονομικής διαδοχής όπου, οι κληρονόμοι, αντί να συμφωνήσουν στην μεταξύ τους διανομή ακίνητης ιδιοκτησίας εγγράφονται ως συγκύριοι σε ιδανικές μερίδες της ίδιας ακίνητης ιδιοκτησίας. Αυτό πολλές φορές το βλέπουμε στις περιπτώσεις όπου οι κληρονόμοι δεν συμφωνούν μεταξύ τους η περιουσία χωρίζεται σε ίσα μερίδια.   Συνιδιοκτησία επίσης σε ιδανικές μερίδες υπάρχει για παράδειγμα, και στις περιπτώσεις των λεγομένων μισών οικοπέδων όπου, δύο ξένοι μεταξύ τους, αποφασίζουν να αγοράσουν ένα οικόπεδο να κτίσουν από μία κατοικία...

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Τι πρέπει να γνωρίζουν οι εγκλωβισμένοι αγοραστές

cyprus business lawyers

Τι πρέπει να γνωρίζουν οι Εγκλωβισμένοι Αγοραστές ενυπόθηκων ακινήτων σύμφωνα με τον Νόμο, αρ. Ν.139 (I)2015,. Ο νόμος αυτός βρίσκει εφαρμογή σε κάθε περίπτωση που ακίνητο ή μέρος αυτού βαρύνεται με σύμβαση, η οποία έχει κατατεθεί στο αρμόδιο Επαρχιακό Κτηματολογικό Γραφείο μέχρι την 31η Δεκεμβρίου 2014 ή έχει κατατεθεί σε αυτό δυνάμει διατάγματος Δικαστηρίου, σύμφωνα με τις διατάξεις του περί Πώλησης Ακινήτων (Ειδική Εκτέλεση) Νόμου, με σκοπό τη μεταβίβαση του ακινήτου το οποίο αποτελεί αντικείμενο της σύμβασης επ’ ονόματι του αγοραστή. Άρα ο νόμος αυτός δεν βρίσκει εφαρμογή σε αγοραπωλητήρια έγγραφα τα οποία δεν έχουν δεόντως κατατεθεί στο αρμόδιο Κτηματολογικό Γραφείο. Αφού...

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