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Business in cyprus

Cyprus is the third largest island in the Mediterranean, with an area of 9,251 km². The strategic location of the island has played a crucial role in establishing Cyprus as a major business hub, since antiquity. Cyprus has been a member state of the EU since 2004 and a member of the Eurozone since 2008. The combination of highly qualified human resource, business infrastructure and availability of investment opportunities continue to make Cyprus an ideal business hub in the region. In Cyprus you can enjoy a high standard of living, thanks to the sunny weather, the beach and mountains, within easy reach and the lowest reported crime rate in the EU. According to the last census some 200,000 foreign nationals live and work in Cyprus, accounting for 22% of the population. Cyprus is therefore a very diverse and cosmopolitan place either to live in or do business.

פאפוס – קפריסין היוונית, יעד להשקעה !

August 4, 2020

. פאפוס יושבת בצדה המערבי של קפריסין היוונית. זוהי עיירת נופש אליה נוהרים תיירים רבים, מידי שנה, רובם מרוסיה, אנגליה וצפון אירופה**.** מאז שנת 2008, השנה בה היה המשבר הכלכלי באירופה, ירד ערך הנדל”ן בקפריסין בכלל, ובפאפוס בפרט, בשיעור של כ- 70%-50% ביחס לנכסים. אולם, החל משנת 2013, ערך הנדל”ן החל “להתאושש” ולתקן את המחירים אולם חרף זאת עדיין קיימת עליה מתונה של 10-15% בלבד בשלוש השנים האחרונות. לצורך המחשה, עלותם של מחירי הדירות בגין דירת חדר -שני חדרים, בממוצע הינם 70,000 אירו ל- 130,000 אירו לערך,...

Filming In Cyprus

May 28, 2019

Cyprus represents an attractive investment for any producer looking for a filming destination that also has the right formula of incentives in place. Specifically, production companies that opt to film in Cyprus will be able to choose between cash rebate or tax credit and can also benefit from tax discounts on investments made on equipment and infrastructure, and VAT returns on expenditure in scope. Qualifying production categories include, amongst others, feature Films (including animation), television Series or miniseries, documentaries for Theatrical or Television release, animation (digital or analogue), television research programmes and natural history....

Acquisition of citizenship as a spouse of a cypriot citizen

May 30, 2018

These applications can be submitted by foreign spouses of Cypriot nationals, who have completed three years of marriage and two years of residence in the Republic, prior to the date of application. Required documents: Birth certificate of the applicant Certificate of clean criminal record of the applicant Marriage certificate Birth certificate of the couple’s children Photocopy of the applicant’s passport Photocopy of the Cypriot spouse’s passport Certificate of acquisition of the Cypriot citizenship of the Cypriot spouse (where applicable) Statement of harmonious cohabitation signed before an Officer of the District Administration Office or the diplomatic authority Statement of cohabitation from the local authority The application should be submitted in duplicate and one of the two application forms should bear two stamps worth 8....

Maritime Law in Cyprus

July 6, 2017

Maritime law is also known as Admiralty or Shipping law and it is defined as the body of law which deals with offences related to maritime activities or matters that are maritime in character such as marine commerce, navigation, transportation of goods and passengers by sea, shipping sailors and the relationship between those who operate vessels on the oceans. It shall be noted the Maritime law does not deal with the jurisdiction over coastal waters, mineral rights etc....

Cyprus Double Tax Treaties

May 31, 2017

A constructive use of the Cyprus Treaties’ Network has rendered considerable advantages to businesses and individuals who have chosen to establish legal entities in Cyprus. Tax treaties legally supersede local tax legislation and for this reason they are a useful tax-planning tool to protect businesses and individuals against double taxation of income earned in other countries. The main purpose of these treaties is the avoidance of double taxation of income earned in any of these countries....

Sustainability & Green consciousness at THEOCHARIDOU & ASSOCIATES LLC

May 29, 2017

As one of the country’s leading environmental law firms, it is inevitable that Theocharidou & Associates Llc would take a leadership role in the field of sustainability, for law office management. In our offices, located in Nicosia and Paphos, Theocharidou & Associates Llc is interpreting its values into action, improving the Firm’s sustainability and reducing its environmental impacts. Below are some of the steps taken to date by Theocharidou & Associates Llc to improve the Firm’s environmental sustainability, and the results we have achieved:...

Cyprus Startup Visa Program

March 2, 2017

The Cyprus Cabinet has recently (15/02/2017) launched the so-called “Cyprus Startup Visa”, a scheme aiming to attract foreign investments from third countries, in the fields of innovation and research. The specific scheme aims to meet the needs of potential individual investors and/or groups of investors, seeking to establish a Startup in Cyprus. The main task of the Startup Visa program is to boost entrepreneurs’ relocation and/or foster the development of high-impact startups, in Cyprus....

The Advantages of Cyprus, in Brief

March 1, 2017

There is a wide range of important reasons that make Cyprus an ideal place for investment and the conduct of business activity: – It is the only member of the European Union in our part of the world and as already said it is strategically situated at the crossroads of three continents, serving as Europe’s southeastern outpost. – It has already developed into a major business and services center in the region, while its small size provides it with the necessary flexibility....

The Attractive Cyprus Tax System

March 1, 2017

Cyprus has a simple and transparent tax system with one of the lowest corporate tax rates in the EU and multiple exemptions for both corporations and individuals. The main characteristics of the Cyprus tax system are outlined below: Low corporate income tax rate of 12.5% EU & OECD Compliant Access to EU directives (e.g. Parent-Subsidiary) Extensive double tax treaty network with over 60 countries Dividend participation exemption (subject to conditions) Exemption from tax on gains from the disposal of securities (e....

Cyprus Legal Framework

March 1, 2017

Our country’s competitive advantages are significantly enriched by a robust and transparent legal and regulatory framework and an attractive tax regime, which offers a wide range of incentives and advantages both for legal and natural persons. Cyprus’ legal system, based on English Common Law principles, is widely recognised as a business-friendly and effective system that ensures transparency and reliability in business practices. Offering foreign businesses a familiar and reliable framework within which to operate, Cyprus’ legal system is also fully compliant with the EU, the Financial Action Task Force on Money Laundering (FATF), OECD, FATCA, the Financial Stability Forum laws and regulations and EU AML directives....