Α. Διαδικασία εγγραφής εταιρείας στην Κύπρο:
1. Αίτηση για έγκριση ονόματος. Ένα έντυπο της αίτησης πρέπει να συμπληρωθεί, υπογραφεί και να συμπληρωθεί με πληροφορίες σχετικά με ένα προτιμώμενο όνομα, τις λεπτομέρειες εργασιών, στοιχεία των διευθυντών και των μετόχων. (Για το όνομα θα περιμένουμε από εσάς να μας δώσετε όνομα που θα σας αρέσει ή θα σας προτείνουμε εμείς από την λίστα με τις εταιρείες που έχουμε σαν “SHELF”)
2. Αφού έχουμε τα πιο πάνω μπορεί να ξεκινήσει η διαδικασία σχηματισμού της εταιρείας υποβάλλοντας το προτιμώμενο όνομα για έγκριση στο Τμήμα του Εφόρου Εταιρειών. Αυτή η διαδικασία παίρνει μέχρι και 5 εργάσιμες ημέρες.
3. Μετά την παραλαβή της έγκρισης του ονόματος αρχίζει η διαδικασία εγγραφής της εταιρείας διαδικασία που διαρκεί μέχρι και 15 εργάσιμες ημέρες.
B. Ελάχιστη κεφαλαιακή απαίτηση για μια Κυπριακή εταιρεία
Το ονομαστικό μετοχικό κεφάλαιο μιας εταιρείας στην Κύπρο αρχίζει συνήθως από 1000 Ευρώ. Για αυτό το ποσό πληρώνουμε ένα επιπρόσθετο 0,6% τέλος χαρτοσήμου που επιβάλλεται από τον Έφορο Εταιρειών επί του εγκεκριμένου μετοχικού κεφαλαίου.
Γ. Συμβούλιο Διευθυντών και διαχείριση της εταιρείας
Ο ελάχιστος αριθμός Διευθυντών είναι ένας. Η μόνη απαίτηση για να μπορεί η εταιρεία να έχει φορολογική έδρα την Κύπρο είναι να παίρνονται οι αποφάσεις της στην Κύπρο. Για τούτο πάντα συνιστάται να έχουμε ένα τοπικό διευθυντή έστω και NOMINEE για την απόκτηση πιστοποιητικού φορολογικής κατοικίας στην Κύπρο.
Επίσης «Εταιρικοί» ή εταιρείες διευθυντές επιτρέπονται.
Η Ετήσια γενική συνέλευση των διευθυντών πρέπει να τηρείται και όχι περισσότερο από 15 μήνες μετά την προηγούμενη.
Η Έδρα της εταιρείας πρέπει να είναι η Κύπρος.
Μια εταιρεία είναι κάτοικος Κύπρου, όταν η διαχείριση και ο έλεγχος ασκείται από την Κύπρο. Για τούτο πάντα βάζουμε “ΝΟΜΙΝΕΕ Directors” διευθυντές άτομα, Κύπριους να φαίνονται σαν Διευθυντές.
Δ. Μέτοχοι εταιρείας
Θα πρέπει να υπάρχει τουλάχιστον ένας μέτοχος. Δεν υπάρχουν περιορισμοί για τους ξένους ιδιώτες ή εάν ένα νομικό πρόσωπο είναι μέτοχος. Για διασφάλιση της ανωνυμίας των πραγματικών μετόχων συνήθως βάζουμε “ΝΟΜΙΝΕΕS” ως μετόχους, φυσικά πρόσωπα, Κύπριους να φαίνονται σαν μέτοχοι που στην ουσία κρατούν τις μετοχές για τους πραγματικούς μετόχους κάτω από ένα «Καταπίστευμα ή TRUST».
Ε. Γραμματέας εταιρείας
Είναι υποχρεωτικό να έχουμε ένα διαχειριστή στην Κύπρο και ένα άτομο που να ενεργεί σαν Γραμματέας. Ο Γραμματέας θα μπορούσε να είναι φυσικό πρόσωπο ή εταιρεία. Ο γραμματέας της εταιρείας είναι υπεύθυνος για την τήρηση και αρχειοθέτηση εταιρικών εγγράφων στον Έφορο Εταιρειών.
ΣΤ. Καταστατική έδρα εταιρείας
Κάθε εταιρεία στην Κύπρο πρέπει να έχει την καταστατική της έδρα, το λεγόμενο εγγεγραμμένο γραφείο, όπου εκεί είναι το μητρώο των διευθυντών, των μετόχων, του γραμματέα και φυλάσσονται τα πρακτικά των γενικών και μη συνελεύσεων.
Ζ. Λογαριασμοί εταιρείας Κύπρου
Κάθε εταιρεία στην Κύπρο πρέπει να διατηρεί λογιστικά βιβλία και να παρουσιάζει τελικό ελεγμένο λογαριασμό μετά το τέλος κάθε οικονομικής χρονιάς.
Το κόστος αυτό είναι συνυφασμένο με τον όγκο εργασιών της εταιρείας και ανάλογα με τις χρεώσεις του γραφείου που θα κάνει τα λογιστικά βιβλία, BOOKKEEPING και τον έλεγχο/ AUDIT. Εάν πάμε στην PWC είναι λογικό ότι η χρέωση θα είναι πολύ πιο ψηλή από του να χρησιμοποιήσουμε ένα μικρό γραφείο που δεν έχει τα ίδια έξοδα σε overheads.
Η. Φορολογικό σύστημα
Παρακάτω είναι τα σημαντικότερα στοιχεία περί φόρων για εταιρείες που έχουν εργασίες στην Κύπρο-
1. Φόρος εισοδήματος ( 10% φόρος καθαρού κέρδους)
2. Φόρος Προστιθέμενης Αξίας (ΦΠΑ) 17%
3. Φορολογίας Κεφαλαιουχικών κερδών (CGT) (20% υπό προϋποθέσεις)
4. Παρακράτηση φόρου στην πηγή επί
α) δικαιώματα
β) μερίσματα
γ) Φόρος Άμυνας
δ) Κεφαλαίου και τέλη χαρτοσήμου
Θ. Φορολογητέο εισόδημα
Οι Κυπριακές εταιρίες υπόκεινται σε 10% φόρο του καθαρού κέρδους. Ειδικότερα, τα ακόλουθα εισοδήματα υπόκεινται σε φόρο εισοδήματος:
1. Κέρδος από Εμπόριο
2. Κέρδος από τόκους καταθέσεων
3. Δικαιώματα από καθαρό τίμημα που έλαβε η εταιρεία από πωλήσεις της υπεραξίας συναλλαγών, “sale of Goodwill”.
- Υπάρχουν οι ακόλουθες εξαιρέσεις από τον φόρο εισοδήματος:
1. Μερίσματα
2. Κεφαλαιουχικό κέρδος επί πωλήσεων μετοχών
3. Ορισμένα έσοδα από τόκους
- Φορολόγηση των μερισμάτων
Τα μερίσματα απαλλάσσονται από τον φόρο εισοδήματος.
Δεν υπάρχει παρακράτηση φόρου στην πηγή επί των μερισμάτων που καταβάλλονται σε μη κατοίκους Κύπρου.
- Φορολόγηση των δικαιωμάτων
Εισοδήματα που αποκτήθηκαν ως Royalty υπόκειται σε φόρο εισοδήματος. (10% το ανώτερο και πάντα υπό προϋποθέσεις.)
Καταβαλλόμενα δικαιώματα εκμετάλλευσης σε μη κατοίκους της Κύπρου υπόκειται σε παρακράτηση φόρου 10%, εάν δεν ρυθμιστεί ένας διπλός φόρος Συνθήκη.
- Φορολόγηση των τόκων
Οι τόκοι από καταθέσεις στην Κύπρο υπόκεινται σε φόρο εισοδήματος.
Τόκοι που καταβάλλονται σε μη κατοίκους Κύπρου δεν υπόκειται σε παρακράτηση.
Ο Φόρος Κεφαλαιουχικών Κερδών (Capital Gains Tax), εφαρμόζεται μόνο σε περίπτωση που αυτό το κέρδος προέρχεται από πώληση ακινήτων που βρίσκονται στην Κύπρο. Κέρδος από πώληση οποιασδήποτε περιουσίας εκτός Κύπρου και τα κέρδη από πωλήσεις χρεογράφων δεν είναι φορολογητέα.
- Φόρος εισοδήματος νομικών προσώπων
Ο Εταιρικός φορολογικός συντελεστή στην Κύπρο είναι 10%, ο χαμηλότερος συντελεστής φορολογίας εισοδήματος στην Ευρωπαϊκή Ένωση.
- Σύστημα Αποφυγής Διπλής Φορολογίας
Η Κύπρος έχει υπογράψει περισσότερες από 40 συμφωνίες διπλής φορολόγησης (Double Taxation Treaties), οι οποίες μπορεί να χρησιμοποιηθούν επιτυχώς για ένα καλό διεθνή φορολογικό σχεδιασμό.
Ι. Πρόταση για Αποφυγή Διπλής Φορολογίας στην Ελλάδα
Διά τον Ελλαδικό χώρο πρέπει να εγγράψουμε μία Κυπριακή Εταιρεία η οποία θα παρέχει υπηρεσίες σε Εταιρείες στην Ελλάδα. Η συμφωνία, εάν θα υπάρχει τέτοια, θα υπογράφετε μεταξύ Κυπριακής Εταιρείας και Ελληνικής Εταιρείας, πελάτη.
Το τιμολόγιο θα βγαίνει από την Κυπριακή εταιρεία με ΦΠΑ συντελεστή 0%. Αλλά για να είναι έτσι η Κυπριακή Εταιρεία θα πρέπει να είναι εγγεγραμμένη στον ΦΠΑ και να καταβάλλει έστω και μηδενική κατάσταση ΦΠΑ κάθε 3μηνία.
Η Κυπριακή εταιρεία θα παίρνει τα λεφτά της σε λογαριασμό στην Κύπρο.
Τα άτομα που θα εργάζονται για την Κυπριακή εταιρεία στην Ελλάδα θα εργάζονται ως αυτοεργοδοτούμενοι και θα παίρνουν ένα ποσό ανάλογο με αυτό που θα είναι λογικό για τις φορολογικές τους δηλώσεις. Ή που θα ανοίξουμε εταιρικούς λογαριασμούς ενωμένους με κάρτες για να μπορούν να παίρνουν λεφτά για «έξοδα».
Κ. Κόστος Κυπριακής Εταιρείας
Σύσταση Κυπριακής Εταιρείας € 1,750.00
*επιπλέον € 100.00 (για κάθε όνομα που καταθέτουμε και δεν εγκρίνεται)
Αγορά έτοιμης “SHELF” Κυπριακής Εταιρείας € 1,900.00
Ετήσια έξοδα
Nominee Διευθυντής € 450.00
Γραμματέας € 300.00
Nominee Μέτοχος € 350.00
Εγγεγραμμένο Γραφείο € 300.00
*Εάν οι nominees θα είναι φυσικά πρόσωπα τότε η χρέωση είναι ανά άτομο € 650.00
Άνοιγμα τραπεζικού λογαριασμού στην Κύπρο € 300.00
Έγγραφα τα οποία θα συμπεριλαμβάνονται στην πιο πάνω τιμή:
Πιστοποιητικό Σύστασης Εταιρείας (Apostilled)
Πιστοποιητικό Εγγεγραμμένου Γραφείου (Apostilled)
Πιστοποιητικό Διευθυντών και Γραμματέα (Apostilled)
Πιστοποιητικό Μετόχων (Apostilled)
Πιστοποιητικό μετοχών (πιστοποιημένο ως ακριβές αντίγραφο)
Ιδρυτικό Καταστατικό (Apostilled)
Πιστοποιητικό (Certificated true copy of the original)
Απόφαση Διοικητικού Συμβουλίου για διορισμό Διευθυντών και Γραμματέα (Certificated true copy of the original)
Αποδοχή διορισμού Διευθυντών και Γραμματέα
Πολλές εταιρείες με έδρα την Ελλάδα έχουν επιλέξει τα τελευταία χρόνια την μεταφορά των εργασιών τους στην Κύπρο. Τα πλεονεκτήματα που παρέχει το σύστημα της Κύπρου είναι πολλά και σημαντικά.
Μία από τις σημαντικότερες ίσως αιτίες είναι ότι η Κύπρος παρέχει τον χαμηλότερο εταιρικό συντελεστή στην Ευρώπη που ανέρχεται μόλις στο 10%. Η μη αποκοπή φόρου στα μερίσματα, τόκους και δικαιώματα που πληρώνονται σε μη κατοίκους (άτομα ή εταιρείες) Κύπρου, σημαίνει πως όταν δίνονται μερίσματα η όταν γίνονται πληρωμές σε φυσικά ή νομικά άτομα που δεν είναι κάτοικοι Κύπρου, αυτά δεν φορολογούνται στην Κύπρο.
Πολύ σημαντικό γεγονός είναι επίσης το ότι η Κύπρος δίνει την απόλυτη ελευθερία στη διακίνηση ξένου συναλλάγματος και επιτρέπει το άνοιγμα λογαριασμών σε ξένο συνάλλαγμα. Επειδή δεν υπόκεινται σε κανένα έλεγχο συναλλάγματος, μπορούν να διατηρούν τραπεζικούς λογαριασμούς σε οποιοδήποτε μέρος του κόσμου σε οποιοδήποτε νόμισμα.
Published on 17th of May 2012 by G. KOUZALIS LLC http://www.lawcyprus.org/
Property lawyers in Cyprus– Review – Limassol Marina– Completed on 22nd February 2012.
Well it is great news for the new Limassol Marina even if it is not for any others inCyprus! TheMarinais ahead of schedule which is a big wow from us and is definitely going to be completed by the promised date in 2013.
The Marina it self will be fully operational by October this year so we will be seeing many super yachts and affluent visitors arriving in Limassol.
The residential units namely the Nereids Residence are near completion with the given date of November this year however, you can now view very chic and luxury apartment now. And we reiterate NOW as these residential units are selling at a speedy rate.
And the commercial side of the marina as in the dining venues and unique boutiques and leisure facilities will be ready for use by April 2013.
Cybarco property developers who are the main shareholders and very much behind the development of the Limassol Marina have pulled out all the stops on this project and it will be pretty hard to beat we have to say when other marinas finally get the go ahead.
The nextMarinato get underway is sure to be Larnaca but Paphos and Agia Napa we are very much in the dark as everyone else is. And this is a very big shame for these areas inCyprus. Such projects should be hurried along in these turbulent times in order to help the economy! So we ask what the delay is.
Congratulations to Limassol residents who will greatly reap the benefits of this development and to Cybarco Property Developers for an amazing job well done. We are very excited for this project to complete this is excellent progression for Cyprus.
PUBLISHED BY A&G KOUZALI LAW OFFICE ON 22ND FEBRUARY 2012. http://www.lawcyprus.org/
Cyprus property lawyers – review – Cyprus Casino- Completed on 22nd February 2012.
So we have it, Famagusta has at last put in a fight and are applying for a Casino license to construct such a project on the East Coast…Hip hip horay!
It is reported that 4 main municipalities in theFamagustaregion have joined together in a bid to secure the license that will cost in the region of 100 million euros. There is no talk of where the casino will be constructed, only that it will be in a tourist area and the main area we feel that would suit this development would be Agia Napa but who knows?
It is still very early days as legislation is not passed in parliament yet but is good to know that we will be putting in our bid for what we feel we should receive.
Apparently only 5 licenses will be issued and it is only fair that we on the East Coast be a recipient of this. Larnaca and Paphos have already put in their application for a license and we are in the queue and by no means lagging behind.
Proposals have been put forward by the finance minister for the construction of five casinos in tourist’s areas, along with the request for a casino regulation board to make sure the casinos operate by strict obligatory regulations.
The licenses are said to help bring in 5 hundred million euros towards the countries deficit this is quite a hefty sum so maybe legislation will not take so long as we imagine.
We hope to published more news on this subject sooner rather than later!
PUBLISHED BY A&G KOUZALI LAW OFFICE ON 22ND FEBRUARY 2012. http://www.lawcyprus.org/
Lawyers in Paralimni – Review – CyprusEnergy Bills – Completed on 15th February 2012
We really must once again report on the horrifying electric bills that people are receiving through the post recently.
We had a reader who has asked not to be named, contact us to let us know after the high electric bill she received for November and December, she went as far as to turn off all her heaters even in her babies room and proceeded to buy only gas for her mobile gas fire.
The woman has now received her new bill for January and February and it is even higher than the previous one. This woman is in complete shock and very distressed and she cannot understand what has happened. She is a single parent with a very small child and after only just being able to pay her last bill now has to lose even more sleep trying to find money for the new bill.
There is most definitely a problem here that must be addressed immediately. These rates are extortionate and the public are at their wits end on this issue.
We ask the government what exactly is going on. This is not right and not acceptable!
This is just one of many stories now around theCyprusIsland. The public are appearing on the TV to show their bills to the nation. There will be uproar on this issue unless something is done about this immediately.
We are being pushed way too far and we demand to know what we are paying for and how the EAC which is a governmental department are justifying these excessive bills?
We want to hear from all of our readers and the public on this issue.
PUBLISHED BY A&G KOUZALI LAW OFFICE ON 15TH FEBRUARY 2 http://www.lawcyprus.org/
Lawyers in Cyprus – review – Internet advertising – Completed on 13th February 2012.
It is all about social networks, business networking, building web links etc etc. The old paper advertising has long gone and we for one are taking full advantage of these free networks that puts our name out there to the world.
We would like everybody to join on the social and business networks below to take part in our discussions and let us know your thoughts and comments while also advertising your and our business to friends and the world in general.
Everyday we will post our thoughts or maybe an article we have written or have read and feel is important for the public to view.
This is the only way forward in getting our business and profiles out there. You can contact us also on instant chat for any queries you may have which saves on telephone calls and having to wait for email replies.
Feel free to join us on the below networks and also have your business or profile on view to all of our friends
You can find us on the following networks, add us as friends, or just follow our activity.
TWITTER – CyprusLawyer – www.lawfirm@cytanet.com.cy
FACEBOOK – Cyprus Lawyers G Kouzalis
LINKEDIN – GIOVANIS KOUZALIS
MSN – GIOVANNI KOUZALIS – agkouzali@hotmail.com
We also highly recommend and promote video conferencing via OOVOO or SKYPE to save on direct visits to the office and long telephones calls
If you would like further information regarding our social and business networks or video conferencing contact us where a member of staff is always at your service.
Lawyers in Cyprus – review – World Charity – Completed on 5th February 2012
We in Cyprus are continually complaining about our economy, the lack of jobs, cut in benefits, the cost of living etc etc. But let us just for a few minutes of our troubled lives take time and think about those that really are a lot less fortunate than us.
Reality is we are having it hard at the moment but that is because we are actually very spoilt. Look around you…there are no homeless people, there are no starving people, crime is still very low. We have the ocean we have the weather and we are surrounded by beauty.
No matter how we are doing it we are surviving and without stealing from our neighbours. So we may not be able to have those luxury nights out we are used to or those new pair of jeans that look so good in the shop window, or our nails repaired and looking good. But we are eating and we have a roof over our heads and times will get better this is just a rough patch that many are experiencing.
We however, forget that there are many who do not have water, food, clothes and a roof over their heads. Most of us look outside our window and see a nice communal pool or even the ocean. There are many that do not even have a window to look out of, there are many that do not have enough clothes to cover their bodies and there are many that have to walk miles to find sanitized water or a bowl of rice.
There are many that live in fear of being raped, assaulted even murdered and many that work 20 hours a day for a bowl of rice and bit of water. There are children from a very young age working as many hours and sometimes dying from exhaustion and lack of nourishment. There are sick people with no medical care. There are thousands upon thousands dying every minute of the day.
There are many countries that are experiencing these problems as we speak Africa, Asia there are well over 40 countries that have the above issues … we don’t have any. No matter how much we think we are struggling we are actually not and even if it is only 5 Euro these countries need our help, these children need our help.
Take 5 minutes out let us stop the complaining and send a prayer thanking God for the luxury life we do have and taking a look at what others do not have! Give a little and you will receive a lot in your heart!
PUBLISHED BY A&G KOUZALI LAW OFFICE ON 5TH FEBRUARY 2012
Immigration lawyers in Cyprus – Review – Work Permits – Completed on 6th February 2012
We have definitely noticed a rise in queries for residency and work permits in Cyprus. We have queries on a daily basis from all countries but sadly it is not easy for everybody in these struggling economic times.
Jobs are more likely to be given to locals than they are foreigners especially for unskilled workers and still more likely for skilled workers.
For EU citizens work permits are not needed since Cyprus joined the European Union in 2004. However, you must register with the immigration and obtain your registration certificate known as a yellow slip. It is still very much advised to first seek employment to avoid disappointment and unnecessary travel.
For Non – EU Citizens it is much more complicated. A work permit must be obtained and will only be granted for a 1 year period. The work permit will also only be granted if employment has been offered and this must be due to the fact that no local Cypriot citizens or EU citizens are able to do the job.
It is advised to learn the local language to help your application.
We also believe having Russian, German, English, Hebrew and Arabic as an added language would be a great advantage but is not a legal requirement.
It is not just Cyprus that are looking to employ local individuals this is the same practice all over the world at the moment. Only due to foreign investment and certain tourism markets are other speaking staff required but avoided if possible.
Truth of the matter is unless you have major funds to invest in the country of your choice obtaining residency or work permits is a hard battle all over the world. But this is why we are here to try and help every case individually.
Our immigration department can help in all areas of immigration contact for any queries you have either inside or outside of Cyprus.
PUBLISHED BY A&G KOUZALI LAW OFFICE ON 6TH FEBRUARY 2012.
East Coast Cypriot lawyers – Review – Cyprus Football – Completed on 6th February 2012.
Football has been under much scrutiny of late. There have been investigations in to the fixing of matches and betting shops taking major amounts of bets when there is a ceiling limit.
The fact that clubs continue to bring in foreign players especially from Portugal, Brazil and Africa which deters Cyprus footballers from getting a chance to show their talent, thus, making them look for teams in other countries.
Plus football has also been affected by the financial crisis and many players are not getting paid and their contracts are being terminated.
It is safe to say that Cyprus football is now in a mess!
Recent reports also show which affects us on the East Coast of Cyprus that many of the international teams that come to Agia Napa to train in the winter are now being cancelled and are not coming.
The funding has not been so readily available to accommodate these international teams that come for a period of time to Agia Napa and make use of the excellent facilities we have to offer.
This means that the hotels who are able to stay open all year due to the football teams staying at their hotels will suffer, employment lines will increase, flights will not be in so much demand due to no Agia Napa winter sports and visitors who come for the sports will go to other holiday resorts in other countries for their winter sport treats.
It also could mean that if flights are not so much in demand those who come just to holiday will not have as much access to flights as previous years. Once again it is a roll on affect as is every issue we are dealing with in Cyprus at the moment. Take away funding for this and it causes major issues all round.
The east Coast seems to suffer the worst when it comes to progression and development and now taking away our winter sports is just another added insult. Give us a break please and throw some incentives our way so we too can help our community survive!
PUBLISHED BY A&G KOUZALI LAW OFFICE ON 6TH FEBRUARY 2012.
Legal Consultants in Cyprus – Review – Why Cyprus and why now!
We want to start 2012 on a positive note so we have comprised a list of why we feel Cyprus is a safe beneficial place to holiday and invest in both property and business. Here we go…
Holidaying in Cyprus
Worldwide accessible flights
Affordable flights
All year round warm climate
Clean and picturesque coastlines
Cultural and modern places of interest for all ages
Vibrant or peaceful day and night life to accommodate for all
Universal languages spoken
Competitive hotel or private accommodation packages
Many existing and future tourist attractions
Property Investment
Low property prices
New government property policies –VAT, Transfer Tax, Title Deed etc
Tightened Legal Protection
High rental return
Safer and securer time than ever to invest
Quality of life for permanent residents
Plus many more advantages
Business Investment
Lowest Taxation policy in Europe 10%
Double Taxation Policies with many countries
No Capital Gains tax
Professional and competitive company formation packages
Strong legal system in place
Plus many more advantages
These are just a few reasons to mention the lists are endless so all we can do is assure you that now is the perfect time to book your holiday, look for your perfect home and start proceedings for your successful business.
Now is the time for Cyprus you can feel excitement and success in the air do not miss out it will be a very big loss if you do not jump at such opportunities today.
PUBLISHED BY A&G KOUZALI LAW OFFICE
Lawyers in Famagusta – Review – Cyprus Rainfall and water issues
Rain rain go away please come back another day…never thought we would be saying that! We wanted and needed major rainfall but a break would be nice some time soon. Smaller dams are overflowing and the main dams are now holding over 50% capacity.
Reports show we have not had this much rainfall in 8 years and the temperatures are also below usual. In short it is very very wet and very very cold. Even the UK is not complaining as much as we are right now.
We have had major problems with water shortage on the island and although the rainfall is continuous we still need more to keep the island ticking over comfortably, which means we still cannot take water for granted.
It has been such a long time since we have had so much rainfall and such cold temperatures it is actually hard to cope with. We cannot get out clothes dry and we are actually using more electric to keep warm and dry. The cost of electric means it is more beneficial to us to have drier warmer weather.
We really should not complain however, we should be rejoicing as we now have water in our dams and 200 years worth of energy we should thank ourselves very lucky.
We do need to reiterate that high usage of water is still forbidden and should be used as a precious commodity. Precautions should still be in place in conserving water no matter of so much rainfall.
Many scientists still believe that water will be very sparse in time to come and we must keep this in mind. No one knows what the future holds and as evident as the long period of rainfall is at the moment, the dry hot spells can come just as quick and as long!
Corporate Lawyers in Cyprus – Review – New UAE Tax Treaty – Completed on 7th February 2012.
Cyprus has now entered and signed a tax treaty with The United Arab Emirates. This was signed on the 1st February 2012.
This means that any residents of the countries can operate business and will not be taxed twice by both countries.
This is a very positive step towards the relationship between the UAE and Cyprus and the investment opportunities are limitless. Without this treaty Cyprus applies a 10% tax policy which although the lowest in the EU now the treaty has been signed this will not be applicable to the UAE. They can operate any business through Cyprus and only be taxed once in their own country.
The UAE are a group of very affluent countries so for Cyprus this is excellent news.
The Cyprus business centre is a booming trade and many countries opt for Cyprus due to the very low taxation rate and low taxes towards social security for employees.
Another reason companies chose to set up shop here is because English is widely used and the law is also based on the English law.
The advantages for setting up business in Cyprus are never ending and we for one are excited this Double Taxation Treaty is now signed and in force.
Our office is highly renowned for our excellent Company(Corporate) Law Service and excellent Company Formation Package and we are already making adjustments to welcome all UAE individuals.
While we are experiencing the bad times we are also looking forward to good times and Cyprus definitely has many of them to come.
We have a lot to offer the UAE and vice versa this is a good towards positive progression and we look forward to a hardworking, vibrant and harmonious relationship with the UAE.
For all your corporate requirements contact our expert department where we are always at your service.
PUBLISHED BY A&G KOUZALI LAW OFFICE ON 7TH FEBRUARY 2012
Cyprus property lawyers – Review – Turkish Cypriot Property in Republic of Cyprus- Completed on 5th February 2012.
We have had a major increase in the number of cases for Turkish Cypriots claiming property and land on the Republic of Cyprus. We see this as a very positive step. Not only do they trust our office for our services but they are also standing up for their rights.
We have seen a high level of interest and actual increased numbers of cases for the selling of land and property they have in the Republic of Cyprus but also for land and property being transferred to living children and grandchildren.
Many Turkish Cypriots, who moved abroad before the 1974 war, are not aware that selling or transferring your land or property has become a more easy process. It is even easier for the Turkish Cypriots to sell or transfer their land or property if they moved abroad during the 1960s Cyprus independence. This is an issue many are not aware of.
We will require from you a death certificate if necessary and proof of your living abroad, as well as proof of the land or property in question. If you do not hold in your possession such documents our office can find these out for you.
You can contact our office if you have any issues of this nature of just require further information. We can search your query should you not have the relevant documents to hand to prove your query that you are entitled to such land or property.
We urge all Turkish Cypriots to come forward and claim what is rightfully yours.
Our office is extremely experienced in this area so please be assured we will do our utmost to achieve the best possible outcome for you and your family.
Contact us today and let us tell you where you stand and let us get the procedure started without delay.
PUBLISHED BY A&G KOUZALI LAW OFFICE
Famagusta legal Consultants – review – Volatile Turkey
The actions of Turkey are having a very adverse effect on the European Union and their bid for accession in to the EU.
Their attitude is that they are too important not to be granted accession and other EU countries are not very impressed with this kind of attitude and they are doing nothing but harming themselves.
It is unsure why they find themselves so important and why they feel they can dictate to others with a higher standing but they continue to do so and they fail to realize that they are not as important as they think they are and should be doing all they can if they really want accession.
Not only have they used hostile threats against Cyprus an EU member state with regards to the drilling and exploration of gas but they continue to dictate to the EU there own rules and regulations…what is Turkey thinking.
It is widely thought that once the gas starts to become evident and is being distributed this is when Turkey will really show their true colours and trouble will start. Cyprus has nowhere near enough defence against Turkey and can only proceed with correct legal and political procedures.
Common sense would tell you to benefit by the gas find and EU accession, let bygones be bygones, remove all Turkish Military from the Cyprus Island, abide by the EU rules like everyone has to and get on with things. Not Turkey!
It is very uncertain if Turkey will be allowed to join the EU or if they will ever let their grip go of Cyprus or even if they will wage war on Cyprus for gas purposes, but they are only showing the world what bullies they are and how greedy they are when all they are doing is hurting themselves.
It is about time Turkey chills out gets off their high horse and makes friends instead of enemies…we can all benefit from being friends!
PUBLISHED BY A&G KOUZALI LAW OFFICE
Property lawyers in Cyprus – Review – Casino in Troodos Mountains
The presidents surprise rebound decision on allowing casinos in the Republic of Cyprus has made many areas around the island jump for joy and apply for casinos in their area.
Troodos Mountains the most culturally preserved area we believe in Cyprus is of no exception!
In 1984 the hotel Berengaria situated in Prodromos closed down putting many people out of work and losing visitors to the area. The hotel was sold in 2007 and the owner and the community wants to turn it in to a 5* hotel boasting casino and spa. The project will cost approximately twenty millions Euros.
Not only will this boost tourism in major numbers it will also create thousands of jobs and generate a wide range of new business investment in the area.
There is still a lot of criticism over allowing casinos on the Republic of Cyprus believing it will lower the islands quality of living but we have to get with the times. Casinos have been in operation for countless years and if we want to get our island out of economic crisis we have to look at all options and some of those options will not be liked but will certainly help.
The project will be developed with affluent clientele in mind and offer high end luxury facilities and accommodation. The communities around this area believe it is the way to go for bringing the mountains back to life and will bring in visitors both locally and internationally on an all year round basis.
We have to agree this kind of investment is mandatory in this day and age. We are too behind with many things it is time to step up! We would like to see this kind of investment on the East Coast also!
Tell us your thoughts on this issue.
PUBLISHED BY A&G KOUZALI LAW OFFICE
Cyprus Property Lawyers – Review – TRNC Property Court Case
The Turkish Republic of Northern Cyprus government was taken to court for their neglect of implementing proper building laws by a lady who has purchased property on the Northern side.
So it appears a development was built without being given official building permission by the government and the purchaser has taken the Turkish Cypriot Government to court over this along with the landowner.
The outcome of the case was ruled in favour of the purchaser which is a first of its kind and both the land owner and the Turkish Cypriot Ministry of Interior were found guilty of allowing building of a project to proceed without proper procedures being put in place.
This is why so many purchasers are in so much trouble right now as the building laws are not being followed and the governments sit back and relax. Well we are pleased for the purchaser who currently resides on the Turkish Republic Northern Cyprus and we are happy of the outcome.
Why should the purchasers always be the one to suffer it is about time this kind of justice was served to those who feel the law is of no consequence to them and that includes government officials and departments also?
Why should those who innocently and in good faith put all their life savings in to such an investment and be left with nothing but headache and continuous nightmares because certain people around the whole of the Cyprus Island think the law does not apply to them.
There will be many more of these cases come forward we are sure of that so for such building that has gone ahead on both sides of the island not just on the Northern side their time in court maybe closer now then they thought possible!
Congratulations to the lady who stood her ground we praise you.
For all those who have similar issues on both sides of the island or for any property issues our expert property law department are waiting for your call.
PUBLISHED BY A&G KOUZALIS LAW OFFICE
Cyprus Property Lawyers – Review – Transfer fees legislation
So it is official the government have approved a temporary measure regarding Cyprus property transfer fees.
For a 6 month period only from the 2nd December first time buyers only will benefit from this measure in that if they pay VAT they will pay no transfer fees and if they do pay VAT they will only pay 50% transfer fees.
The issue will be addressed at the end of the 6 month period to see if a more permanent measure will be put in place. This measure will definitely help the Cyprus property market and any new comers to the Cyprus property ladder but still does not help existing property owners.
It is thought that many people will now withdraw current contract deposited at the land registration in order to redeposit them to take advantage of this measure however, certain prodedures have been put in place so this is not possible!
The new legislation as we said will only apply to first time buyers and only for properties brought within the 6 month period.
We do applaud the efforts the government are making to help the Cyprus property market start moving once again and we hope these efforts are rewarded and new investors will come and take advantage of this.
It is not a measure that will solve existing issues that many property owners have but it will show good faith on the governments part for new investors and show we are trying our very best to fix the Cyprus legal system with regards to property.
For any property or title deed queries or assistance contact us directly where an expert mebre of staff is always at your service. We would also like to hear our readers opinions on this issue.
PUBLISHED BY A&G KOUZALI LAW OFFICE
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