No Stone Should Be Left Unturned.

According to the Value Added Tax Laws of 2000-2015 buyers of residential property could obtain a reduction to VAT and pay a reduced rate of 5%. This was subject to certain conditions and only applied for the first 200 sqm covered area when the total covered area was not more than 275 sqm. The Value Added Tax (Amendment) Law of 2016 took effect on the 18th of November 2016 and amended the Value Added Tax Laws of 2000-2015. READ MORE

Citizenship by Investment in Cyprus

in Immigration Law

Cyprus is one of the very few countries in the European Union to offer a programme to non-EU citizens that enables them to acquire citizenship directly through investment. The Cypriot citizenship is an EU citizenship and the right to live, work and move freely within all the 28 EU countries. The Cypriot citizenship by investment programme is generally regarded to be the most attractive of its kind. An applicant does not have to live in Cyprus in order to obtain the citizenship and processing of the applications takes only around 3 months. READ MORE

Alternative Investment Funds in Cyprus

in International Law

The Alternative Investment Funds Law of 2014 was enacted by the parliament on the 10th of July 2014 and entered into force on the 27th of July 2014. This new Law provides for the establishment and operation of Alternative Investment Funds (AIF) in Cyprus. The Alternative Investment Funds Law of 2014 replaces the International Collective Investment Schemes Laws of 1999 and 2000. The new Law creates a framework for the operation of Alternative Investment Funds which is in harmony with the relevant EU directives. READ MORE

Cyprus Investment Firms

in Commercial Law

Certain activities and services are regulated and can only be provided if a license is obtained. In Cyprus, the governing authority is The Cyprus Securities and Exchange Commission (CySEC) which examines applications for such licenses and issues the licenses when such applications are approved. The primary legislation governing the provision of investment services and for the regulation and registration of Cypriot Investment Firms is Law 114 (I)/2007. Some of the advantages of Cypriot Investment Firms (CIF) are: ● Corporate tax rate at 12. READ MORE

Permanent Residence Permit in Cyprus via Investing on Property

in Real Estate Law

Cyprus has a favorable regime which allows a third country national to obtain Permanent Residency in Cyprus if he or she buys property in Cyprus worth a minimum of €300.000 and when certain conditions are met. Low crime rate, nice weather, high quality schools and a good living standard render Cyprus a very desirable location to invest on property and to seek to start a new life. According to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the criteria which have to be met for a third country national to obtain Permanent Residency in Cyprus are: READ MORE

NEW ECONOMIC ERA

With the accession of Cyprus into the European Union, as from the 1st of May 2004, it has been able to offer more attractive investment opportunities to entrepreneurs and advantages to investors. Cyprus has an open, free-market, service-based economy with some light manufacturing. The Tertiary sector is the largest contributor to the Cyprus economy. After its independence, Cyprus has enjoyed a thriving economic performance, reflected in rapid economic growth, full employment rates and external and internal stability. READ MORE

BUSINESS ENVIRONMENT

There are many factors that have contributed to making Cyprus a favourable environment for doing business. The characteristics of the business environment in Cyprus reveal the advantages and flexibility Cyprus offers as an international business and financial centre: Cyprus is considered to be a low tax country rather than a tax haven country; The island has an extensive Double Tax Treaty Network Friendly international relations; Sophisticated infrastructure; Excellent professional services with modern banking and insurance networks; Highly-educated and versatile workforce; Low operational costs; High standard of living; High quality of primary, secondary and university education. READ MORE

TOWNS – POPULATION

The **total population** of Cyprus is around 800,000 with the capital, Lefkosia (Nicosia) being the largest town. Lefkosia is also the seat of the Government as well as the main business centre. The second biggest town of Lemesos (Limassol), which is where our firm offices are situated, is the main commercial port of Cyprus and also a popular tourist resort.The costal town of Larnaca can be distinguished because the main International Airport is situated there and also because it has the second commercial port of the island. READ MORE

TRANSPORT NETWORK