BASIC REQUIREMENTS TO SET UP A CYPRUS INVESTMENT FIRM
Cypriot investment firms (CIFs) provide investment services on a professional basis inside or outside Cyprus. A CIF cannot offer professional investment services without being licenced by Cyprus Securities and Exchange Commission (CySEC). Generally, CySEC authorises and supervises investment firms and activities in Cyprus based on the provisions of Law 144 (I)/2007. In order to obtain...
Child Abduction Regulations in Cyprus
Parental care is the right and duty given to both parents, to take important decisions concerning the life of their children. In Cyprus, parental care is regulated by Law 216/1990. Based on the provisions of this Law, both parents have the right to have a contact with their children. Additionally, the Law 216/1990 regulates issues related to parental care and divorce, i.e. contact between...
CRIMINAL LAW REGULATIONS IN CYPRUS
Criminal law is a set of regulations that indicate the actions the society disapproves. A criminal wrong differs from civil wrong. Precisely, a criminal wrong denotes an action that inexcusably and unacceptably threatens or causes damage to individuals or the society. Criminal law focuses on protecting society and discourage criminal acts, by imposing punishments on people conducting these...
Drunk Driving Regulations in Cyprus
Police announced that during January, more than 7.000 drivers had been breathalysed in the whole country, and the 8.25% found to be over the legal limit. Following the provisions of section 94 of the Criminal Code (Cap. 154), it is illegal to be in state of intoxication in a public place. Specifically, driving under the influence of alcohol or drugs or other related substances is illegal. It...
REGULATION OF INVESTMENT SERVICES IN CYPRUS
Cyprus is a major financial and investment centre in the EU and internationally. As a result, there is a requirement for an effective and efficient regulatory framework. In Cyprus, the Cyprus Security Exchange Commission (CySEC) is an independent legal entity that regulates and supervises any investment activity carried out in Cyprus and the operation of investment firms on the island....
REGULATIONS FOR PRIVATE SHIP SECURITY COMPANIES
Shipping is among the most important sectors of the Cyprus economy. In addition, Cyprus is one of the biggest fleets in the EU and internationally. The geographic location of Cyprus, the double tax treaties with 45 countries and the relatively low set up and operating costs urge ship owners to register their vessels and shipping companies in Cyprus. As a result, maritime security for ships...
Immovable Property Regulations in Cyprus
Cyprus is an attractive location for immovable property investments for many reasons. On the one hand, the considerable law taxation schemes, the reliable legal framework and the straightforward bureaucratic procedures motivate business people to invest in immovable property in the Republic of Cyprus. On the other hand, the warm climate and the quality of life attract individuals, pensioners...
CYPRUS: PARTNERSHIP LIMITED BY SHARES
The legal team of Michael Chambers & Co. LLC would like to inform you about the amendment of Law 144 (I)/2015, which introduced the partnership limited by shares. The new legislation came into force in 2015. As a result of this particular legislation, Cyprus is now in line with other EU member-states, including the UK, Poland and Luxembourg. In addition, the introduction of partnerships...
Title Deeds: Amendment of Transfers and Mortgaging Property Law
The legal team of Michael Chambers & Co. LLC is able to assist ‘trapped’ buyers to obtain Title Deeds.
The amendment of Transfers and Mortgaging Property Law will resolve the issues emerged from the failure to provide Title Deeds to purchasers who have paid for the property they bought and fulfilled all the necessary obligations, due to developer’s debts. Precisely, the new legislation...
Double taxation agreement between Cyprus and Ukraine just signed
The services of Michael Chambers & Co. LLC are available also in Russian.
The Cyprus taxation scheme together with the simple bureaucratic procedures motivates business people and investors to launch their business activities in Cyprus. In addition, Cyprus maintains double tax treaties with more than 40 countries. Recently, the Minister of Finance of the Republic of Cyprus together with...