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CYPRUS TAX RESIDENCY FOR COMPANIES

A company which is a tax resident of the Republic is taxed on income arising from sources both within and outside of the Republic. For the above purposes a company is a tax resident of the republic if the control and the management of that company are exercised in the Republic. Corporate income tax rate The corporate income tax rate for all companies is 12,5%. Why Cyprus? Cyprus is a member of the European Union and operates under a secure legal framework safeguarding the interests of its citizens and companies whilst promoting business growth. Cyprus’ strategic location established the island as a business hub for corporations around the world. Along with the...

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CYPRUS TAX RESIDENCY FOR INDIVIDUALS

Individuals who are Cyprus tax residents they are taxed in Cyprus on their worldwide income subject to certain exceptions. Who can be a tax resident in Cyprus? ‘183 day’ rule With reference to the Income Tax Law of 2002 (118(I)/2002), an individual who stays more than 183 days in the Republic within a tax year (1 January to 31 December) is a tax resident of the Republic. ‘60 day’ rule Alternatively, an individual can be a tax resident of the Republic even though he spends less than or equal to 183 days in the Republic if he/she satisfies the following conditions: does not spend more than 183 any other country;is not a tax resident...

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GENERAL DATA PROTECTION REGULATION (GDPR)

Personal Data misuse and breaches in recent times have affected millions of Individuals and organisations. If an organization is found to have breached either, deliberately negligently or by an innocent mistake the personal data of a data subject then that organization could face with significant injury to its reputation and can affect its business. On the other way around, fundamental detriment can be suffered by the individual that her/ his personal details are being unlawfully exposed as well, and its constitutional right of privacy might be undermined. According to the GDPR “General Data Protection Regulation”, all organisations handling any personal data must comply with the GDPR regulation, otherwise...

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CYPRUS SHIPPING

CONDITIONS OF OWNERSHIP UNDER THE CYPRIOT LAW The history of the Sea and Shipping in Cyprus traces back hundreds of years. Its geographical position at the crossroads of Europe, Asia and Africa as well as its proximity to the Suez canal has historically favored merchant shipping as an important industry for the Aphrodite’s island. Admiralty and Shipping law PAPANTONIOU & PAPANTONIOU L.L.C. is a leading Cypriot law firm in the field of Admiralty and shipping law.  The firm offers a range of services to ship-owners, freight forwarders, insurers, charterers and has experience on resolving legal disputes that arise in the field.  As a member...

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REDOMICILIATION

Redomiciliation refers to the transfer of the registered office of a company namely the company’s “seat of incorporation” in another jurisdiction provided that the law in both countries allow it. Foreign companies that want to take advantage of the Cyprus tax regime, may choose to transfer their domicile to Cyprus by avoiding to wind-up the company and  to incorporate a new legal entity, simply by following the procedure of redomiciliation. Consequently, the company will continue to exist under a new jurisdiction and will be deleted from the Registry of its original country of incorporation. Why redomicile your foreign company to...

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PATENTS

According the Cypriot law that concerns the grant of a patent (16(I)/1998) any individual or organisation may apply to the Department of Registrar of Companies and Official Reciever in Cyprus, for inventions and patents which after matching certain criteria they may be established as National Patents. Moreover, the Department registers and protects the patents that are granted by the European Patent Office (EPO). In addition, the Department of Registrar of Companies in Cyprus acts as a reciever office of European (EPO) and International (PCT) applications for patents....

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ΠΝΕΥΜΑΤΙΚΑ ΔΙΚΑΙΩΜΑΤΑ

Πνευματική ιδιοκτησία ή πνευματικά δικαιώματα ονομάζονται τα αποκλειστικά δικαιώματα των πνευματικών δημιουργών στο έργο τους. Παραχωρούνται από τον νόμο για ορισμένο χρόνο για να απαγορεύσουν σε τρίτους τη χρήση των έργων χωρίς την άδεια του δημιουργού. Ο περί Πνευματικής Ιδιοκτησίας Νόμος 59/76 της Κυπριακής Δημοκρατίας, προστατεύει τους Κυπρίους πολίτες για τα έργα τους που δημοσιεύονται οπουδήποτε και τους πολίτες ξένων χωρών για τα έργα τους που δημοσιεύονται στην Κύπρο. Μόνο οι ιδιοκτήτες του Δικαιώματος Πνευματικής Ιδιοκτησίας έχουν το αποκλειστικό δικαίωμα να επαναπαράξουν, μεταφράσουν και προσφέρουν τα έργα τους προς το κοινό. Οποιοσδήποτε παραβιάσει τα δικαιώματά τους υπόκειται σε καταβολή αποζημιώσεων καθώς και σε άλλες ποινές βάσει του Νόμου. Σύμφωνα...

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Cyprus Shipping

An ideal destination offering a plethora of opportunities   The history of the Sea and Shipping in Cyprus traces back hundreds of years. Its geographical position at the crossroads of Europe, Asia and Africa as well as its proximity to the Suez canal has historically favored merchant shipping as an important industry for the Aphrodite’s island. Today, Cyprus as Europe’s Eastern Border constitutes a bridge of communication and cooperation between Europe and the countries of the Middle East. The country’s accession to the European Union, in 2004, further boosted the reputation and overall image of the Cyprus flag. The country’s unique geographical location at...

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Antonis Papantoniou Interview

We aim to lead in each practice and area of law we work in. Coming from in-depth understanding of the law and the industry, capitalizing on extensive experience, we provide hands-on advice that speaks the language of our client’s business. Whether in aviation, sales and distribution, antitrust, corporate and M&A, finance, employment, energy, IP, litigation, TMT, real estate, or any other area of law, our clients can expect excellence and commitment to their objectives. Ensuring the operational functioning of the organisation, the development of external relations, management of press relations and constant communication with the press....

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