Israeli Conference

The Cypriot law firm Stelios Americanos & Co LLC organized on 17 February 2020 its first international conference for the year in Tel Aviv in Israel.

Kazakhstan And Cyprus, Business Ties Enhance Economic Relations

The scope for enhancing economic relations and business ties between Kazakhstan and Cyprus is immense, Cyprus’ Minister of Finance said in his opening address at the Conference "CIS – Kazakhstan – Cyprus – Business Cooperation Heralding the New Era", held Thursday in Limassol.

Intax Forum Ukraine 2018

Stelios Americanos & Co LLC, participated at Intax Forum Ukraine 2018 which took place in Kiev, between 21 and 22 May 2018.

Tax Update

Cyprus Tax Department has announced that, as of June 1st 2018, the following taxes, not bearing interest and charges, can ONLY be paid via JCCsmart (website www.jccsmart.com.cy). JCCsmart is a Cyprus portal used to contact payments to various organizations including the Government. This measure follows the successful implementation of the Pay As You Earn (PAYE) …

Enforcement of a Pledge over the Shares of a Cyprus Company (“Cyprus Pledge”)

A. Pledge A pledge is by definition a possessory security interest and thus involves the delivery of possession, actual or constructive. A security interest is valid and enforceable once it has been attached to the asset and is perfected. A security interest that has been attached and perfected is enforceable as between the pledgor and …

Medical Cannabis Legalisation

THE MAIN PROVISIONS OF THE LEGISLATION WHICH IS UNDER DISCUSSION BEFORE THE HOUSE OF THE REPRESENTATIVES FOR THE LEGALISATION OF THE IMPORTATION AND/OR PRODUCTION AND/OR CULTIVATION OF PHARMACEUTICAL CANNABIS

FBME Bank Ltd: Compensation to Depositors, Deadline until 11th April 2018.

The Central Bank of Cyprus has on 9/4/2016, activated the procedure for the payment of compensation amount from the Deposit Guarantee Fund for Banks for deposits held in FBME Bank Ltd – Cyprus branch.

Stamp Duty

1. Scope of the Stamp duty Law. 1.1.Stamp duty is governed by Stamp Duty Law (19/1963) (hereinafter the “Law”). The Law (article 4 (1)) provides that the documents that are specifically named in its first schedule (and only such documents) are subject to stamp duty provided these documents relate to: (i) assets situated within the …

Cyprus’ strong economic recovery-2018 Outlook

Cyprus’ strong economic recovery will continue in 2018 with the GDP expected to be 3.2% (2017: 3.8%) which is well above the European Union average. Inflation forecast shows an increase in 2018 to 1.2% (2017: 0.7%) well within the healthy limits, with unemployment expected to be near the 10% mark in comparison with 13% of …

Tax Update

Cyprus Tax Authorities announce the 10 year bond yield for Notional Interest Deduction (NID) purposes The Cyprus tax authorities have announced the interest yield of the 10 year government bonds as at 31st December 2017 which increased by 3% grants tax allowance on new capital introduced into the Cyprus company.