The Legal 500

Legal Developments in Cyprus

• THE VAT E-COMMERCE PACKAGE

  A. INTRODUCTION   The VAT E-commerce Package adopted by the Council on the 5th of December 2017 includes several changes that will be gradually implemented, some changes will be effective as from the 1st of January 2019 and the rest as from the 1st of January 2021.
  - Kinanis LLC

• WORLD SHIPPING LAW FORUM, ATHENS JANUARY 2019

  Stelios Americanos & Co LLC, participated in WORLD SHIPPING LAW FORUM in Athens that has taken place on the 25th January 2019. The conference took place at N.J.V. Athens Plaza.
  - Stelios Americanos & Co

• BLOCKCHAIN AND DIGITAL CURRENCIES

  BLOCKCHAIN AND DIGITAL CURRENCIES
  - Stelios Americanos & Co

• Mergers and Reorganizations - An Overview

  Cyprus boasts an attractive merger and reorganisation regime not only locally, but also at an EU level. Mrs Lia Iordanou Theodoulou, our firm's Partner-Head of Corporate Finance, shares an overview of the procedures to carry out a local and a cross-border merger, providing essential legal and tax information.
  - Patrikios Pavlou & Associates LLC

• Supporting local and international charitable organizations

  As one of the leading law firms in Cyprus, we are active promoters and supporters of local economic growth by sponsoring local events, applying environmental-friendly practices, minimizing our ecological impact, and most importantly, by raising money for local charities and non-profit organizations.
  - Patrikios Pavlou & Associates LLC

• Stricter supervision in relation to the Scheme for Naturalisation of Investors in Cyprus by Exceptio

  Recently there were a lot of publications within the European Union expressing concerns about the allegedly very high number of Cypriot passports being given to foreign investors the last few years. The Council of Ministers has decided on 9th January 2018 with the decision with number 84.069, to impose a stricter supervision of all the parties involved in the Scheme for the naturalisation of non-Cypriot investors in Cyprus by exception.
  - Michael Kyprianou & Co

• 19% VAT on Plots

  In order to harmonize the  Acquis Communautaire on the Taxation of untapped and undeveloped plots of land, the Cyprus Government enacted, on 03/11/2017, relevant legislation for the imposition of 19% Value Added Tax (VAT) on these properties, with a date of enforcement being 02/01/2018. The relevant legislation refers to plots/pieces of land offered and/or provided for construction for economic purposes.
  - Michael Kyprianou & Co

• Unfair contract terms

  The Unfair Contract Terms Law 93(1)/1996 (the “Law”) as amended, implements the EU Directive  93/13/EEC  of 5 April 1993 regime into national law. The objective of the aforementioned legislation is the protection of consumers in the European Union from unfair terms and conditions which might be included in a standard contract for goods and services they purchase. It introduces the notion of ‘good faith’ to avoid any significant imbalance in mutual rights and obligations.
  - Michael Kyprianou & Co

• Beneficial Ownership Concept - The approach of the Russian Federal Tax Service

  The beneficial ownership of the income concept (“the Concept”) is nowadays a material aspect affecting the eligibility of the taxpayers to claim treaty benefits.
  - Kinanis LLC

• MALTA - ICOs - THE NEW LEGISLATION (Updated 4th edition)

  Initial Coin Offering, known as “ICO”, is a relatively new phenomenon that has quickly become the main player in the Financial Services and Crowdfunding industries, as well as being the key subject of discussion in the Blockchain communities. In essence, it is one of the most advanced methods of raising finance from the public and is becoming increasingly popular to fundraise start-ups.
  - Kinanis LLC