FBME Cyprus. How to “unlock” your money at the FBME.

The Central Bank of Cyprus has on the 9th of April 2016 activated the Deposit Guarantee and Resolution of Credit and Other Institutions Scheme (DGS) in the case of the Federal Bank of the Middle East (FBME). The DGS is activated under the provisions of the Deposit Guarantee Schemes Law,  Law 5(I)/2016 (“the Law”) and […]

How to acquire a Cyprus Permanent Residence Permit.

  The government of Cyprus has put in place a fast-track procedure that allows investors from Non EU countries to obtain permanent residence in Cyprus. The basic requirement is to purchase residential property of €300,000 plus VAT In Cyprus. The examination period for the issuance of a Permanent Residence Permit by the Government is only 2 months. […]

The European trademark changes name!

On 23 March 2016, the Office for Harmonization in the Internal Market (OHIM) will change its name to the European Union Intellectual Property Office (EUIPO), as set out in the Amending Regulation (Regulation (EU) 2015/2424 of the European Parliament and the Council). At the same time, the Community trade mark (CTM) will become the European […]

Cyprus company strike off.

A company is a legal person. As such it has what is called “perpetual succession”. In other words it never dies. The question offers arises how a company can be dissolved or be “killed”. In most common law jurisdictions there two methods: One is called “strike-off” and the other “liquidation”. We shall examine each in […]

Updated double tax treaty table. November 2015

Read the recently updated double tax treaty list of Cyprus as issued by the Ministry of Finance. Cyprus currently has 58 double tax treaties. Click the link below. http://www.mof.gov.cy/mof/mof.nsf/page26_en/page26_en?OpenDocument

How the media presented the ECHR judgement in the Vrountou case

The judgement of the European Court of Human Rights in the Vrountou case issued on the 13th of October 2015,  attracted a lot of media attention. [READ THE CASE SUMMARY HERE]   The managing partner of our law firm Christophoros Christophi gave numerous interviews in TV, radio and newspapers while the Greek and English press […]

European Court of Human Rights vindicates our client for human rights violations.

The European Court of Human Rights (ECHR) delivered yesterday 13/10/2015 its judgment in the case of Vrountou v. Republic of Cyprus (application no. 33631/06). Our law firm represented the applicant in the appeal procedure in the national courts as well as before the ECHR. The Violations. The ECHR found that the Republic of Cyprus violated […]

Tax Alert. Automatic exchange of information on tax rulings of EU Member states.

The Commission has welcomed a unanimous agreement by Member States on the automatic exchange of information on cross-border tax rulings, just seven months after the presentation of the Commission’s ambitious proposal on the subject. The new rules should lead to greater cooperation between Member States on tax matters and act as a deterrent from using tax […]

Facebook data and privacy. Important Judgment of the Court of Justice.

Judgment in Case C-362/14 Maximillian Schrems v Data Protection Commissioner Luxembourg, 6 October 2015 The Court of Justice declares that the Commission’s US Safe Harbour Decision is invalid Whilst the Court of Justice alone has jurisdiction to declare an EU act invalid, where a claim is lodged with the national supervisory authorities they may, even […]

New tax changes attract foreign investment. Tax Alert, August 2015

The House of Representatives voted on the 9th of July 2015 a number of significant tax law bills into laws in an effort to modernize the Cyprus tax system and further enhance Cyprus’ competitiveness in attracting foreign investments. The above provisions have come into effect on 16 July 2015, which is the date they were […]