Advantages of Registration under the Cypriot Flag
Cyprus is a major ship management centre and its flag holds an envious reputation worldwide. The Cypriot Register now ranks 10th
in size internationally and represents the third largest fleet in the EU. Moreover, the Register is growing, with shipping entrepreneurs attracted to the host of benefits offered by registration under the Cyprus flag and the active promotion of ship management...
Key Considerations in Commercial Contracts
Every kind of commercial contract will have its own individually negotiated and agreed terms (for example what is to be supplied; where; how; when; the price for supply; quality etc) all of which may be determined by the parties involved and unique to the particular agreement at hand. However, other terms and considerations will have a more general and universal application and will need to be...
Cross Border Investment Firm Activity
Activities of all investment firms in Cyprus are governed by CySEC, the Cyprus Securities and Exchange Commission. CySEC is
responsible for authorising investment firms to undertake investment and ancillary services and governs ongoing transactions and compliance with the various applicable regulations.
Investment firms may consider undertaking their activities abroad through establishment of...
Investment Firms in Cyprus
In the Republic of Cyprus (in accordance with EU law) only certain persons and companies are permitted to undertake investment services and activities (for a full list of such regulated activities please refer to the end of this article) and such entities are tightly regulated in order to ensure high standards and full consumer protection. The Cyprus Securities and Exchange Commission...
Characteristics of key legal entities in Cyprus
There are three primary established business media in Cyprus: companies; partnerships and sole traders. Sole traders tend to represent smaller operational concerns and therefore, as a business takes off, many promoters of the business will primarily be concerned with considering the characteristics and applicable benefits of a company or a partnership.
Forms of Entity Companies:
Companies are...
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...
Recordal of a trade mark licensed user with the Registrar of Companies in Cyprus
In Cyprus the registration of trademarks with the Registrar of Companies is governed by the Cyprus Trade Mark Law, CAP 268 and the Trade Mark Rules 1951 as amended. Cyprus law provides for the recordal of a license with the Registrar of Companies however its provisions are not mandatory. A non-registered trade mark will be valid in Common Law.
A licensed user can be registered in respect of...
Temporary Transfer Fee Reduction Approved
On Thursday 3rd November the House of Representatives in Cyprus voted to approve a Bill aimed at reducing transfer
fees in property transactions. The draft bill is under finalisation and could be effected shortly. Property transfer
tax represents a considerable levy on purchasers of property on the island and the aim of the latest measure is to prompt the struggling property market by...
Cyprus: an advantageous venue for Incorporation
Each year thousands of new companies are registered with the Registrar of Companies in Cyprus. In 2010, 19278 new companies were registered and 2011 looks set to top that figure. Year on year the number of annual registrations on the island increases, taking the total current number of registered companies in Cyprus to over 250.000 companies. Clearly Cyprus holds great attraction as a business...
Cyprus Divorce
Statistics
According to the latest demographic report of the Statistical Service of Cyprus for the year 2009, the number of divorces is increasing. Particularly, in 2009 the number of divorces increased to 1738, compared to 1639 for 2008.
Main ground of divorce
In Cyprus, the grounds recognized for divorce are stipulated in A....