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Cyprus Economy Is Growing

Cyprus Economy Is Growing The government is determined to continue its serious and responsible policy on the economy, said on Wednesday Cyprus’ Deputy Government Spokesman Panayiotis Sentonas. Sentonas made a statement that the economy of Cyprus continues to grow, and the government makes up for what citizens lost in difficult years. He added that the […]

Economic Substance in Cyprus

What is Economic Substance and how to establish Economic Substance in Cyprus? More information about Substance and Virtual office – Ebusiness services. What is Economic Substance ? Economic substance is a doctrine in the international tax law under which a transaction must have an economic purpose aside from reduction of tax liability in order to […]

Acquiring property in Cyprus

Acquiring property in Cyprus for European Union Citizens European citizens have the right to acquire and own an unlimited amount of real estate. The procedure for registration of ownership is very simple: submit to the Land Register an agreement on the purchase of the property you want to buy (within 6 months from the date […]

Enforcement Of Foreign Court Judgments In Cyprus

In order to maintain economic relations between persons and companies from different countries and to secure their business interests, it is important to ensure the recognition and enforcement of foreign judgments on the territory of foreign countries. In this article we will look at the procedure of enforcement of foreign court judgments in Cyprus. The […]

International divorce in Cyprus

International families is a common thing in modern society. Therefore, it often happens that the assets of spouses are in different countries. What jurisdiction would be available in case of divorce? According to international law, such couples could choose jurisdiction on their own. The choice of jurisdiction to apply for divorce may have a significant […]

Alimony Law in Cyprus

In this article we will consider the alimony according to the Cyprus legislation. According to the Law, both spouses have the obligation of paying alimony to the other spouse, regardless of whether that is the husband and wife, on the basis of gender equality. A parent must pay child support regardless of whether he / […]

What is a hedge fund?

In this article we will consider what is a hedge fund and its benefits. Hedge Funds (English Hedge Funds) – a type of investment funds. Hedge funds use the most effective money management strategies. “Traditional” funds do not apply such strategies. The concept of “hedge fund” comes from the word “hedge”, which means insuring investment, […]

What is tax optimization?

Tax optimization plays an important role in activities of any commercial enterprise. Tax optimization is a system of tax planning methods that help to minimize them. What is tax optimization and why do we need it? Tax optimization methods include the use of all possible tax benefits, exemptions and other methods permitted by law. Tax […]

Penalty for improper accounting

Companies with registration in Belize, the British Virgin Islands, Panama and Seychelles run the risk of getting penalty for improper accounting. Consider each country separately. Seychelles If a violation is discovered during the audit, a fine of up to 100 $ is imposed on the company. If the company continues to violate this requirement, it […]

Change of Structure of Cyprus Companies- New Legislation

Due to the new Law N149(I)/2018 which will be enforced on 18 December 2019, the following changes of structure of a Cyprus company must be submitted to the Registry within 14 days from the date of the change on the relevant forms(HE2, HE4, HE57, HE12), which will be submitted to the Registry. In the case […]

Annual Returns New Legislation

All Cyprus companies have an obligation to file to the Registrar of Companies an Annual Return (HE32 form), which must be accompanied by the Financial Statements of the previous year. The Annual Returns are always accompanied by the audited financial statements of the previous year (e.g. the Annual Return (HE32) for the year 2019 will […]