Articles

Family Reunification for third country nationals, according to the Cyprus’ Aliens and Immigration Legislation

October 18, 2018

Family reunification refers to the entry and residence of the family members of a third-country national, residing lawfully in the Republic, in order to preserve family unity. According to the Aliens and Immigration Legislation, third-country nationals residing lawfully in the Republic of Cyprus, have the right to family reunification with their family members, given that the sponsor: has stayed lawfully in the Republic for a period of at least two (2) years is holding a residence permit with a duration of at least one (1) year has reasonable prospects of obtaining the right of permanent residence. READ MORE

Cyprus tax resident for non-domiciled individuals

in Tax Law

September 11, 2018

As part of the overall effort to continuously improve and simplify the Cyprus tax system as well as to remain a highly compliant and attractive jurisdiction, various new bills have been passed into new laws in July 2015. Amongst these, there has been the introduction of the concept of Non-Domiciled individuals for tax purposes. The main aim of introducing the Non-Domicile concept is to constitute Cyprus as a prime choice of destination for persons (both EU and non-EU) wishing to move their personal tax residency in another country. READ MORE

9 Tips for a Safe Family Beach Vacation

in Tips

July 18, 2018

Many families head to the beach every year for a summer vacation. For many, a sun-filled day at the beach is the best kind of summer day and a great way to spend their family vacation. A sure way to spoil a family beach vacation, however, is having someone get sick, or injured, or even die. While beach vacations are great, they are not without some risks. See these 9 tips for a safe family beach vacation. READ MORE

UK Court of Appeal clarifies meaning of ‘knowledge’ for purposes of Limitation Act

in Case Law

July 5, 2018

Introduction In Su v Clarksons Platou Futures Ltd ([2018] EWCA Civ 1115) the Court of Appeal upheld a decision granting summary judgment against a claimant on the basis that his claim in negligence was time barred. The Court of Appeal concluded that the claimant was out of time, even with the application of the special time limit for negligence claims under Section 14A of the Limitation Act 1980 (which applies where the facts relevant to the claim were not known at the time when the cause of action accrued). READ MORE

The Cyprus Exclusive Economic Zone and Continental Shelf

in Law Of The Sea

June 18, 2018

The Republic of Cyprus established an exclusive economic zone (EEZ), with the enactment of the Exclusive Economic Zone and Continental Shelf Law (Law No. 64(Ι)/2004), which was submitted to the Secretary General of the United Nations, as the depository of the 1982 United Nations Convention on the Law of the Sea. According to the Exclusive Economic Zone and Continental Shelf Law (which was amended in 2014 (Ν.97(Ι)/2014)), the outer limit of the EEZ of the Republic of Cyprus is defined to a distance of 200 nautical miles from the baselines from which the breadth of the territorial sea is measured. READ MORE

Property Transfer Fees & Stamp Duties, in Cyprus

in Latest News

June 5, 2018

Transfer of the ownership right from the developer to the buyer is accompanied by property registration tax paid by the buyer to the state, a so-called Transfer Fee. Transfer Fee is calculated based on the contract value of the real estate using the following scheme: Transfer Fee calculation: Real Estate PriceCommission Feeunder EUR 85.4303%from EUR 85.431 to EUR 170.8605%over EUR 170.8618% Transfer fee is calculated in in the same way as in transactions on the secondary property market, i. READ MORE

Contracting a Civil Marriage, in the Republic of Cyprus

in Civil Law

May 23, 2018

Weddings in Cyprus: What types of weddings are possible? The legal definition of a marriage can be complicated to a foreigner. While Cyprus doesn’t legally recognize gay marriage, same sex civil unions and registered partnerships are legally recognized. Civil ceremonies are common. They must take place in a town hall or other authorized venue. A venue may become authorized by paying a fee and obtaining a license. In fact, couples of mixed religions often choose to marry in Cyprus if they cannot marry at home. READ MORE

Renewable Energy Sources, within the Republic of Cyprus

in Environmental Law

May 10, 2018

The European Union (EU) has already tuned its energy policy into achieving maximum carbon dioxide (CO2) emissions reduction from power generation plants. In this context, it has already set out a strategic objective of achieving at least a 20% reduction of greenhouse gases by 2020 compared to 1990 levels. This strategic objective represents the core of the new European energy policy. Recognizing the positive effects of renewable energy sources (RES) technologies towards achieving this goal, the EU has taken a range of specific actions in the direction of enhancing the integration of RES in the existing European power generation system as a major step towards the reduction of global warming and climate change phenomena. READ MORE

Enforcement of foreign judgments in Cyprus

in International Law

April 17, 2018

The domestic legislation on the recognition and enforcement of foreign judgments are: the Foreign Courts Judgments (Recognition, Registration and Enforcement) Law (121(I)/2000), which enables judgment creditors to pursue recognition and enforcement of foreign judgments governed by any of the bilateral or multilateral treaties and conventions between Cyprus and third (non-EU) countries; and the Certain Judgments of Courts of Commonwealth Countries (Reciprocal Enforcement) Law, which is based on the English Foreign Judgments (Reciprocal Enforcement) Act 1933 and may be used by judgment creditors having obtained judgments by the superior courts of the United Kingdom. READ MORE

Cyprus (current) Tax System in place and the tax incentives which arise from that

in Tax Law

March 13, 2018

Cyprus is a full EU member and has a strategic location as it is situated around three continents. The country has a well-educated work force and a very competitive corporation tax rate which is fixed at 12.5%, one of the lowest in the European Union. A company is deemed to be resident in the Republic when management and control is exercised in the Republic. In other words, for a company to be deemed as a Cyprus Tax Resident the following 3 criterion must coexist: READ MORE

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