The Legal 500

Legal Developments in Cyprus

• Cyprus Shipping Industry : Business as usual. Why despite recent events Cyprus remains an internatio

  Cyprus is the third most populated island in the Mediterranean Sea. It is strategically located at the crossroads of Europe, Africa and the Middle East. Traditionally Cyprus has always been at the heart of the seafaring trade and therefore always functioned as an important centre for trade and commerce. Today as a member of the European Union it remains an optimal business base. It is one of the most attractive locations for foreign investments worldwide. Foreign companies have been given the opportunity to invest and establish business in Cyprus on equal terms with local investors as no distinction is made between foreign and Cypriot companies.
  - Michael Kyprianou & Co

• FOREIGN EXCHANGE OPERATIONS

  The excellent support system in combination with the ideal jurisdiction provided in Cyprus set the country in the list of the most desirable countries through which you can offer foreign exchange operations. In addition, the accession of Cyprus within the European Union and, most importantly, the extremely beneficial economic advantages available due to the low costs and the outstanding taxation, create a covetable environment for foreign investors.
  - Michael Kyprianou & Co

• Cyprus remains an attractive destination for international businesses

  Reminding our clients, associates and friends of the favourable investment and tax environment of Cyprus
  - Patrikios Pavlou & Associates LLC

• Cyprus: the gateway for investments in and out of South Africa

  South Africa has excellent and long standing bilateral relations with Cyprus . These strong ties are further cemented with the help of the large and influential Cypriot (and Greek) community in South Africa , numbering about 60,000. The Cypriot Community also serves as a link between the two countries, both politically and economically.
  - Stelios Americanos & Co

• Money Laundering

  Money laundering is an international problem and requires the active assistance of a number of professionals and institutions to address it and suppress it.
  - Patrikios Pavlou & Associates LLC

• ITALY, FRANCE, RUSSIA AND SOUTH KOREA JOIN ENERGY SEARCH

  Cyprus approved licenses for exploratory drilling to exploit offshore oil and gas deposits in four blocks off its shore. Drilling permits were approved for blocks 2,3,9 and 11. Those interested in searching for hydrocarbons within Cyprus’ exclusive economic zone are Russia, France, Italy and South Korea.
  - Stelios Americanos & Co

• Cyprus and Ukraine signed the Double Tax Treaty

  On the 8th of November 2012, the representatives of Cyprus and Ukraine signed the Double Tax Treaty in order to replace the existing one which dates back to the 1982 and was concluded with the USSR.
  - George Y Yiangou & Co

• Cyprus has been removed from the Russian «Black List».

  As from the 1st of January 2013, Cyprus will no longer be in the Russian Black list. This will have an immediate positive impact on both countries investment's.
  - George Y Yiangou & Co

• New Double Tax Treaty Between Cyprus & Ukraine

  On the 8 th of November 2012, the governments of the Republic of Cyprus and the Ukrainian People's Republic concluded a new double tax treaty replacing the 30 year old USSR - Cyprus treaty. The new treaty aims to put an end to the long standing uncertainty that existed in the future investment relationship between the two countries and to create a new framework that will ensure that a stable tax environment will exist in the years to come.
  - Kinanis LLC

• The Cyprus International Trust

  The Trust
  - Patrikios Pavlou & Associates LLC