With the increasing need for transparency through Anti-Money Laundering (AML) regulation, the Law on the Prevention and Combating of Money Laundering (Amending) Law of 2021 (the “Law”) transposes the 4th EU AML Directive (Directive 2015/849/EU) into Cyprus law. The Law provides for the creation of a Register of Ultimate Beneficial Owners (UBO) of companies and […]
UBO register: What is changing? Read More »
Cyprus constitutes a popular destination for mergers and acquisition transactions; these can be local, between Cyprus entities, or at a cross-border, EU level.
Mergers and Acquisitions Read More »
According to the latest figures announced by the Cyprus Government, the newly-introduced Fast-Track Business Activation Mechanism has been very successful and has attracted great interest from both new and established businesses. This mechanism has already been used by many prominent companies to set up operations in Cyprus and demand has exceeded all expectations. The success
Fast-Track Activation Mechanism: Great Demand in the first few months Read More »
Individuals and families looking to acquire real estate in Cyprus may benefit from the reduced VAT scheme currently in place for first-time home buyers. Cyprus law provides for a reduced VAT rate of 5% when constructing or purchasing a new house or apartment, which is intended for use as the main and permanent residence of
Buying your first home in Cyprus? Reduced VAT coefficient of 5% Read More »
The payment of rent, especially on commercial premises for businesses forced to suspend their operations, has been an issue of great discussion and controversy in Cyprus. First Lockdown Due to restrictions imposed by the Constitution of the Republic of Cyprus, the Government was unable to respond to popular demand for rent payments to be suspended
Rental Agreements & COVID-19: New Decree by the Minister of Health, 15 January 2021 Read More »
Pink Slip is a temporary residence permit for Non-EU citizens, visitors and students wishing to stay in Cyprus for more than 90 days. The Pink Slip allows people who hold a Non-European passport to extend their stay in Cyprus for more than 3 months. It, also, does no matter what was the duration of their
What is Pink Slip? Read More »
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