Commercial law

Sale of Intoxicating Liquors, in Cyprus

In order to sell, offer to sell, or hold with the purpose to sell alcoholic drinks in the Republic of Cyprus, one needs to obtain the license for the sale of intoxicating liquors (retailer’s license and dealer’s license) by the Municipality, within which the premises are located, or in any other case by the District Officer of the District, within the boundaries of which the premises are located. A retailer’s license is to be obtained in the case of retail sale of alcoholic drinks in specific premises or place for the consumption either inside or outside the premises/place. READ MORE

The Corporate Governance in Cyprus: An Overview

t is generally accepted that one of the main causes of the banking crisis in Cyprus was failed corporate governance and risk management strategies. The financial crisis has highlighted the significance of following corporate governance rules and the use of such rules as preventative measures and tools for creating a risk-efficient economic environment. It has been recognized that, in a bid to attract investors following the crisis, companies must actively promote transparency, risk management and corporate governance. READ MORE

Cyprus as an International Business Centre

Cyprus has a number of comparative advantages that have contributed towards the island becoming an important international business and shipping center: EU and European Monetary Union Member State Strategic geographical location at the crossroad of three continents – ideal for expansion in new markets Well developed socio-economic infrastructure Broad range and international quality of financial and business services – legal, tax, accounting, investment and brokerage Well developed banking sector for all financial needs An active Stock Exchange and robust Securities and Exchange Commission Market-oriented economy Macroeconomic stability and performance Highly educated, qualified and multilingual talent Stable and pleasant business environment, accompanied by simple administrative procedures Low set up and operating costs Advanced transport and telecommunications network Renown international shipping center Enviable quality of life Stable, Reputable Political and Legal System Simple, Low Taxation The government of Cyprus, taking into consideration the numerous challenges arising from increasing competition, globalization and the recent global financial crisis, is promoting a number of measures and initiatives to further establish Cyprus as an attractive investment destination. READ MORE

Cyprus Investment Firms

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