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....
Buying property in Cyprus
Cyprus is considered one of the safest European countries to invest in since its market is growing at a stable rate and its prices are competitive. If every perspective purchaser bears in mind the following points then a safe and prosperous investment will be carried out.
An official search must be conducted at the Lands Registry which will provide the purchaser with information found on the...
The Supremacy of European Union Law over the Constitution of the Republic of Cyprus
Cyprus was a British colony until 1960 and as such the Cyprus legal system was highly influenced by the English legal system and the principles of common law and equity were adopted by the legal system of Cyprus.
The Cypriot Courts apply the following laws:
The Constitution of the Republic
The laws that remained in force under Article 188 of the Constitution
The common law and the...
VAT in Cyprus
Value Added Tax is a tax charged on every taxable supply, by a taxable person, of goods and services within the Republic, other than an exempted supply. It is also charged on goods acquired in Cyprus from other EU countries and on goods imported from outside the EU.
VAT is an indirect taxation which is applied by the VAT registered business acting as agent of the VAT authority by adding VAT to...
Action for Infringement of Trademark
The logo, symbol or design of a company is a commodity that serves to distinguish the goods or services of one company from those of its competitors. Once created, a trademark can be registered and will enjoy an initial seven-year period of protection from the date of filing of the application, which is renewable every fourteen years thereafter.
If the owner of a registered mark believes that...