Fraud by entity presenting itself as Christophi Danos & CO LLC using our contact details.

  We have been contacted recently by several people from New Zealand , Australia and South Africa asking if we have any relationship with a law firm named Christophi Danos & CO LLC. The said law firm uses the website address http://www.christophi-cyprus.com/ They also use our address in their correspondence i.e. 20 Spyrou Kyprianou Avenue, Chapo Central, 1075, […]

How to pay the annual government levy to the Registrar of Companies.

Please be reminded that all Cyprus companies should settle the special annual government levy of 350 euro by the 30th of June 2014. The settlement of the annual duty should ONLY be done through JCCSmart website through the following link: https://www.jccsmart.com/ Please follow the instructions below: Instructions for the payment of Cyprus Companies annual levy (2014) […]

Loans in foreign currency and borrower’s rights, Part 2

On the 14th of April 2014 I wrote an article about loans in foreign currency and the rights of borrowers. The link to that article is here. The article dealt with the Opinion delivered by Advocate General Wahl, in Case C-26/13, Árpád Kásler and Hajnalka Káslerné Rábai v OTP Jelzálogbank Zrt, before the Court of […]

Introduction of a “special cases” category for granting Cypriot citizenship.

On  Friday 28th of March 2014 the Council of Ministers announced a change to the criteria by which Cypriot citizenship may be granted to foreign investors. The change is temporary and will be applicable till the 06th of June 2014. No excuse was given why the change will be in force for such a limited […]

Abuse of the legal aid system by lawyers and lawfirms!

“Politis” newspaper in its Sunday edition 16/03/2014, discloses the names of lawyers and law firms whose clients applied and were approved for legal aid. Legal aid is available in Cyprus to litigants that fulfill certain income criteria. It is based on the human right that access to court should be open to everybody, even to […]

Appointment of new Governor of the Central Bank of Cyprus

Mrs Chrystalla Yiorkadji, Auditor General, is the new Central Bank of Governor. Her appointment, effective as from the 11th of April 2014,  was announced today following the resignation of the current Governor Panicos Demetriades. Mr. Demetriades resigned yesterday after two years in office and returns to his economics professorship in Leicester University UK. Mrs Yiorkadji […]

4 NEW CYPRUS DOUBLE TAXATION TREATIES ENTER INTO FORCE WITH EFFECT FROM 1 JANUARY 2014

In line with the OECD Model Convention, four new Double Taxation Treaties (DTT) have  come into force with effect from 1st of January 2014, between Cyprus and the following countries: 1. DTT between Cyprus and Ukraine  The new DTT between Cyprus and Ukraine replaces the old DTT between Cyprus and the USSR. The main provisions of the new DTT […]

NEW DOUBLE TAX TREATY BETWEEN CYPRUS AND UKRAINE

Following the ratification of the new treaty by the Government of Cyprus on the 22nd of  March 2013, the Ukrainian parliament has proceeded with the ratification the new double  tax treaty between Cyprus and Ukraine on the 4th of July 2013. The new treaty was put into effect as from the 19th of August 2013. […]

INCREASE IN THE CORPORATE TAX RATE

With effect from 1 January 2013 the corporate tax rate has been increased from 10% to 12,5%. Transfer and carry forward of tax losses by credit institutions With effect from 25 March 2013, in the event of a transfer of operations, assets, rights or obligations from one credit institution to another under the Credit Institutions Resolution Law, any […]

CASH RESTRICTIONS MEASURES

The Minister of Finance, in exercise of the powers conferred by Articles 4 and 5 of the restrictive measures in trade in Case of Emergency Act of 2013, upon the recommendation of the Governor of the Central Bank has issued a decree provides for the following restrictive measures among others: 1. From current accounts/sight accounts/ savings accounts/ cards Withdrawals […]