A Will in Cyprus
A Will is a written legal document, in which a person communicates their wishes concerning the distribution of their assets and when drafted in accordance to the rules, it takes effect immediately after the testator’s death. Although it is not mandatory to create a will in Cyprus, it is nevertheless recommended in order to avoid any misunderstandings and complications, especially in regard to...
IP Box or Intellectual Property Box Regime
Cyprus has always been an attractive location for business activities. Intellectual Property can be one of the most valuable assets of an organization and it is a significant strategic business decision to select the appropriate location for the establishment and management of IP holding companies. The country offers a beneficial tax rate and is also legally supported by the EU Member States...
Shipping companies in Cyprus
Cyprus has always been targeted by many nations for its beneficial geographical position and, amongst other elements, its attractive shipping operations. Ever since 1963, when the government first offered incentives encouraging ship ownership and registration, Cyprus has become a thriving international business and shipping centre for shipping companies. Throughout the years, Cyprus has been...
Why Register a Ship in Cyprus
Cyprus has always been targeted by many nations for its beneficial geographical position and, amongst other elements, its attractive shipping operations. The country is one of the top five ship management centres worldwide, having around 60 ship management companies in operation while employing almost 40,000 seafarers. This accounts for the one-fifth of the world’s third-party ship management...
Cyprus Citizenship by Investment
It has now become quite easy for people from around the world to become Cypriot citizens, by investing in real estate in accordance with the ‘Cyprus Citizenship by Investment Program and obtain Cyprus Citizenship by investment.
Advantages of Cypriot Citizenship
Over the last years, Cyprus has become a popular destination, not only for seasonal holidays but also as a choice of permanent...
Mareva Injunction – Freezing orders
The Mareva injunction, otherwise known as the freezing order or freezing orders, the Mareva order or the Mareva regime, is an interlocutory relief granted by the courts in order to freeze the assets of a defendant during a civil proceeding. The primary function of the injunction is to maintain the integrity of the court process by preventing the defendant from dissipating assets and becoming...
Cyprus Company Formation
The Republic of Cyprus is a paradise for entrepreneurs, business owners and corporate activities, who need to do a company formation mainly because of its vibrant interrelation worldwide trade and the beneficial tax rates it offers. The main legislative body governing the rules and policies of corporations in Cyprus is the Companies Law, Cap.113, which adopted almost identical provisions with...
Probate Rules in Cyprus
What is Probate and what are the probate rules in Cyprus? Thinking about death can be an unpleasant topic for most people, but it is undeniably a part of life, and the sooner you face the fact and prepare your inheritance the better it would be for those you leave behind. If you own any immovable property in the Republic of Cyprus, irrespective of your nationality or permanent residence, it...
Cross-border divorces and division of assets
International families constitute a significant outcome of increased mobility and globalisation. Spouses may come from different countries or in some cases they may have more than one citizenship. In addition to this, the couple may have relocated to another country and have assets in more than one country. As a consequence, when the couple wishes to divorce they may choose the country where...
BREXIT: UK CITIZENS OF CYPRIOT ORIGIN CAN OBTAIN AN EU PASSPORT
An EU passport includes the right to live and work in any EU member-state. Following, the result of the UK referendum, the UK citizens will not have that right anymore. However, after the Leave vote, some people have the false impression that they could renew their passport immediately and remain citizens of the EU for the next 10 years. This option will not work because once the UK leaves...