Our experienced litigators have the capacity to handle complex and urgent issues covering every aspect of the law.

Administrative and Public law

We advise on civil actions involving governmental bodies and institutions, public inquiries and judicial review cases.

Admiralty

We advise ship owners, shipping companies, charterers, ship brokers, cargo owner, banks, insurers and other corporate entities and individuals who become involved in disputes which have a maritime law dimension.

Our firm is acknowledged as one of the law firms in Cyprus that offer expert legal advice for most range of legal services in the shipping industry such as

• Claims for loss or damage to cargo
• Collisions
• Enforcement of mortgages
• Freight disputes
• General average
• Problems relating to the employment of officers and crew members
• Salvage and damage limitation

In addition, we provide advice and assistance on a wide range of commercial shipping activities, including vessel registration under the Cyprus flag and related matters. We are located in Limassol where the country’s main port and the Cyprus Department of Merchant Shipping are based, which enables us to respond promptly to urgent matters.

Banking Litigation

We advise on a wide range of medium to high value banking disputes. Our experience in this area includes actions on behalf of banks, corporate clients and individuals.

Company & Commercial Litigation

We advise on a wide range of disputes which arise between commercial transactions and business relationships.

Insurance and reinsurance litigation

We advise on all types of disputes involving insurers and policy- holders including disputes involving reinsurers and insurance brokers. In addition, we deal with many types of disputes which involve an insurance dimension such as personal injury and property damage claims.

Personal Injury

We deal in all areas of personal injury and medical accidents, including accidents at work and road traffic accidents.

Property Litigation

We advise on large and small property disputes involving vendors and purchasers, landlords and tenants, developers, construction firms, management companies and financial institutions.

Family law

We advise in relation to all matrimonial matters and disputes between spouses including divorce proceedings, children’s alimony and custody matters, assets belonging differences, stop list orders etc.

• Incorporation of Companies in various Jurisdictions, including Cyprus, Malta, British Virgin Islands, Isle of Man, The U.K., Panama, and others.

• Full domiciliation and management services in Cyprus to Companies, businesses or persons including:

• Nominee and other Services to Companies (nominee shareholders, nominee directors, secretary, registered office).

• Invoicing, Tax Clearance and Tax Certificates.

• Virtual Office facilities, including Communication services, conference facilities, own fax & telephone lines, private telephonist or answering yourselves your one Cypriot telephone line from home.

• Opening and/or operating Bank accounts, (as signatories or liaising with banks).

• Accounting through our “In house Accounting Department” and Audit through selected associate firms.

• Feasibility Studies

• Changes in Company structures and preparation of all Company resolutions, powers of Attorneys – legalization of documents.

• All other related services.

• Immigration / Green card / Permanent residence permits/ Visas

• Formation of international Trusts & related advices and other facilities, (Trustee and other).

Despite the recent financial problems in Cyprus, the tax system remains the same and allows the use by foreign nationals of international business companies, (I.B.C.), registered in Cyprus, to, either alone or in combination with other companies of various jurisdictions, prepare a proper and beneficial international tax planning.

Being a Cypriot Company an IBC will be taxed in Cyprus on its profits (whether from Cyprus or from abroad) and can take advantage of the “Double Tax Avoidance” Treaties of Cyprus with most European Countries (as well as most “ex Eastern bloc” Countries and others) provided that its management and control are carried out from Cyprus (e.g. if the majority of its board of directors are Cypriots or people residing in Cyprus, (a full study of each Treaty is necessary).

Consequently it is very important that the management and control of the Company is carried out from Cyprus through Directors residing in the Country (which we provide) to continue taking advantage of the Double Tax Avoidance Treaties of Cyprus with many Countries.

Permanent Residence

The Permanent Residence Permit refers to individuals who have fully and freely at their disposal a secured annual income which is high enough to allow a decent living in Cyprus for themselves and dependents. A permanent residency permit can be obtained mainly via 2 different ways:

1. purchasing property in Cyprus.
2. it can be granted to applicants (and dependents) who have legally resided in Cyprus for a continuous period of more than five years.
   
   

Main Requirements of applying for Permanent Residency by Buying Property in Cyprus

• The purchase of new immovable property of a total market value of at least EUR 300.000,00 plus applicable VAT.
• The applicant must submit the application form accompanied with a Contract of Sale and proof of payment of at least EUR 200.000,00 plus applicable VAT.
• The applicant must submit a confirmation letter from a Cyprus Bank confirming a minimum capital deposit of EUR 30.000,00 from abroad into a bank account which will be locked for three years. After the expiration of mentioned period, the money will be released without restrictions.
• The applicant must provide supporting evidence of a secured annual income of at least EUR 30.000,00 deriving from financial sources from abroad such as salaries, employment, rents, pensions, dividends from shares. This income must increase by EUR 5.000,00 for every additional child, and EUR 8.000,00 for each dependent parent.
• Clean Criminal Record
• Funds from abroad

Our Law Firm provides guidance and assistance on agreements and contracts, protecting your interests. We handle all aspects of contractual matters and we negotiate terms and conditions of contracts and agreements on behalf of our clients.

Our firm is acknowledged as one of the law firms in Cyprus that offer expert legal advice for most range of legal services in the shipping industry such as:

• Claims for loss or damage to cargo
• Collisions
• Enforcement of mortgages
• Freight disputes
• General average
• Problems relating to the employment of officers and crew members
• Salvage and damage limitation

In addition, we provide advice and assistance on a wide range of commercial shipping activities, including vessel registration under the Cyprus flag and Purchase contracts (MOA), Drafting of Charter Parties, drafting and/or registering of ship mortgages-related shipping services. We are located in Limassol where the country’s main port and the Cyprus Department of Merchant Shipping are based, which enables us to respond promptly to urgent matters.

TAX INCENTIVES

GENERAL

All Companies taxable in Cyprus are taxed at 12.5% on their net profits.
It is important to note that although tax resident I.B.C.’s will be taxed at 12.5%, they (and their shareholders) will nevertheless in fact NOT pay any tax on income originating from disposing of titles/shares or from dividends (to non-residents) or from profits deriving from permanent residence abroad, which are not taxable.
It is equally important to note that a “Cyprus International Trust” will be entirely tax free in Cyprus.

TAX ADVANTAGES

The Cypriot tax system provides to investors the following advantages:
• only 12.5 percent corporation tax, one of the lowest rate in EU
• exemption from tax of dividend income, in most cases
• exemption from tax of profits from foreign Permanent Establishments (PE), in most cases
• exemption from tax on profits generated from transactions in shares, securities, bonds and units
• exemption from withholding tax on the repatriation of income either in the form of dividends, interest and on almost all royalties
• extensive favorable double tax treaties network with 45 Countries
• access to EU Directives

Capital Gains Tax

Capital Gains Tax (CGT) is only imposed on the sale of land and buildings situated in Cyprus, or of shares in non-listed companies that own such property. There is no CGT on the sale of any other asset including real estate outside Cyprus and shares in companies without real estate property in Cyprus.

As far as shares are concerned, gains as well as trading profits from the disposal of titles are exempted from all taxes. Titles are described as shares, bonds, debentures and similar titles as well as rights thereon (options, futures, etc.).

Withholding taxes

– No withholding taxes exist for dividend payments which are made to non-tax residents of Cyprus

– No withholding taxes exist for interest payments which are made to non-tax residents of Cyprus

– No withholding taxes exist for royalty payments if the right is used outside Cyprus.

BANK ACCOUNTS

Any Company (in either type of set-up) may open Bank accounts in Cyprus or abroad in free transferable currencies (USA$, DM, EURO etc.) and signatory to these accounts can be either the beneficiary or ourselves (with an extra annual fee) or other person nominated by the beneficiary (if it will be ourselves, we shall have to set up an agreement and a kind of code of instructions for safety purpose). In the case of Bank accounts in Cyprus we must provide your Commercial Bank with the identity of the actual beneficiaries.

The Firm’s Lawyers will expertly and ably counsel our clientele regarding their rights and obligations as employers and/or employees in their workplace.
Our team can also draft, provide advice and information to our clients on Employment areas such as:

– Employment Contracts

– Breach of employment contracts

– Employment court litigation

– Maternity issues

– Dismissal

The right to own immovable property in Cyprus is free to every foreign individual who is a “European Union Citizen”, and to other non EU citizens on approval of each individual case by a Committee of Ministers (who act through District Officers).
All immovable properties in Cyprus, (including houses and apartments), are recorded in the records of the Land and Surveys Department of the Ministry of Interior, through District Land Offices, and relevant title deeds with full description of the property concerned are issued to the owner.

The Cyprus Investment Program enables applicants from non-European countries who meet the economic criteria of the program to obtain citizenship for themselves and their family (including dependent children up to the age of 28).

Investment Options

• Real Estate and Due Diligence
• Land Development
• Infrastructure Projects

Main Requirements for obtaining a Cyprus Passport by Investment

• An investment of €2.5 million, including the purchase of a residency.
• Must maintain a residence in the Republic of Cyprus of a purchase price of at least €500.000,00 plus applicable VAT.
• Mandatory donation of €75.000,00 to the Research and Innovation Foundation and
• a second mandatory donation of €75.000,00 contribution to the Cyprus Land Development Corporation.
• The applicant must have a Cyprus residence permit for at least six months before receiving his Cypriot citizenship.
• Must maintain the required investments for a period of at least five years from the date of the naturalization.

Please Note:
The new criteria for naturalization will apply from May 15, 2019. Moreover the appointments for the submission and examination of naturalization applications will be settled from May 15 onwards.

Conditions

• The main investment can be sold after 5 years except the first purchased property with a value of at least €500.000,00.
• Applicants must hold a clean Criminal Record from the country of origin & country of residence and their name must not be on the list of persons whose property is ordered to be frozen within EU.

Benefits of obtaining a Cypriot Citizenship

• Freedom to live, work, travel, and study anywhere in EU.
• European citizens also enjoy the rights in Switzerland, Iceland, Lichtenstein and Norway which participate in the European Economic Area (EEA).
• Cyprus Strategic Geographical location forming a bridge, an open window between the Europe, the Middle East and North Africa.
• Cyprus is one of the safest countries to live.
• Cyprus has an excellent health system, therefore being a European citizen, you have access to greatest medical centres in Europe.
• The legal system is based on English common law.
• Low tax rates and free trade within EU.
• Right to own property in another EU member state.
• Establishment and free movement of services & goods.
• Visa-free travel to 158 countries.
• European citizens can attend universities in any European country for free or with reduced tuition rates.
• European citizens have the right of protection by the Diplomatic or Consular authorities of any EU country in a 3rd country (countries outside the EU) where your home EU  country is not represented by a consulate.