Financial

The 4 Stages of Succession Planning for Family-Owned Businesses in Southern Cyprus

The 4 Stages of Succession Planning for Family-Owned Businesses in Cyprus

Understanding the Law and Planning Ahead Succession planning is a crucial aspect of business management, particularly for family-owned businesses. In the context of the law in Cyprus, there are four stages to consider when planning for business succession. Identifying Potential Successors The first stage is identifying potential successors. This involves assessing family members or key […]

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Company Law Amendment: Elimination of the obligation to submit Audited Financial Statements

Cyprus, Financial / Georgia Anastasi

All Companies registered in Cyprus have the obligation to keep accurate accounting records to prepare and submit to the Registrar of Companies a copy of their annual Audited Financial Statements. The House of Representatives recently introduced amendments to the Cyprus Company Law, Cap. 113, reducing the scope of this obligation. These have been introduced by

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CryptoCurrencies in Cyprus: Legal, Tax & Other Considerations

Financial / Marilia Paraschou

The beginning of cryptoassets can be traced to 2008 and the conception of Bitcoin by (pseudonym) Satoshi Nakamoto, who envisioned the creation of a distributed, decentralised ledger, accessible to everyone in the world. Our firm has put together a comprehensive report to examine and consider some of the questions and challenges posed by the advent

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UBO register: What is changing?

Financial / Marilia Paraschou

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

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Cross-Border Transfer of Company Seat

Financial, International / Marilia Paraschou

The advantageous corporate tax regime, with a corporate tax rate of 12,5% and all the other benefits Cyprus that has to offer, has led many business owners to the decision to transfer or structure their operations via Cyprus. Cyprus law allows for the transfer of the registered seat of companies to and from Cyprus. When

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