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Blog

Record Numbers of Tourists in North Cyprus This Year

2017-07-05

The tourism in this country has an important role in the economy, having a key impact on the local culture and its development throughout the decades.

4 Financing Options for Start-ups in Cyprus

2017-03-15

Start-up companies in Cyprus are sustained in this country through a set of governmental programmes, designed to increase the value of such businesses, especially in the first stage of their development. Foreign investors can apply for numerous grants in Cyprus, provided by different governmental institutions. At the same time, as a member state of the European Union (EU), Cypriot businesses are entitled to funding programmes provides by the Community. Our team of Cypriot lawyers can offer legal advice on the eligibility criteria applicable to foreign investors. 

Increase of 43% for Cypriot Property Transactions in 2016

2017-02-06

Foreigners, both natural persons and legal entities, can purchase properties in Cyprus. The procedure is concluded through a sale/purchase contract, which should contain a set of compulsory provisions related to the object of the purchase, its price, the conditions in which the property is sold, the rights and obligations of the parties and other specific aspects. Related to this subject, we mention that the Cypriot property transactions increased in 2016 by 43%, which represents the highest increase in the field since 2010. When concluding a property transaction in Cyprus it is advisable to address to our team of Cypriot lawyers, who can help with the due diligence procedure - a recommended step (yet not compulsory) in this process. 

Cost of Living in Cyprus

2017-01-25
When relocating to Cyprus for business purposes, which can refer to opening of a company in this country or investing in an investment fund, the foreign businessmen should also take into consideration the average cost of living in one of the Cypriot main cities. This aspect should take into consideration the price of renting an apartment, the utilities costs, transportation costs (with a personal car or by using the public transportation system) and many others. Our team of lawyers in Cyprus can offer advice to those who want to open a business here, as well as to those who want to become Cypriot citizens
 

Economic Sentiment in Cyprus Increased in December 2016

2017-01-16

The economic sentiment in Cyprus increased in December by 3.1 points, showing that the business perspectives available for both local and foreign investors operating on the Cypriot market improved. The Economic Sentiment Indicator increased by 3.1 points, in comparison with the previous month. Businessmen who are interested in opening a company in Cyprus should know that the increase is a direct effect of the business activities carried out in the fields of services, retail and construction. Our team of lawyers in Cyprus can offer legal assistance on the legal requirements applicable to foreign investors. 

Traded Goods in Northern Part of Cyprus, Increase of 14% in 2016

2017-01-03
The Turkish - Cypriot Chamber of Commerce recently announced that the value of traded goods in the northern part of the country increased by 14% at the level of 2016. In 2015, the value of traded goods was situated at EUR 3.7 million, while in 2016, the overall value rose up to EUR 4.3 million. The estimates take into account the results registered up until the level of August 2016. Businessmen who want to start a company in Cyprus may have positive business prospects in this region and our team of lawyers in Cyprus can provide their assistance for the registration requirements. 
 

The Cypriot GDP Growth Rate for Q3, Increase of 2,9%

2016-12-08

The Cypriot growth rate registered in the third quarter (Q3) of 2016 an increase of 2,9%. The increase is compared with the same period of 2015. The GDP growth rate in Cyprus increased as a consequence of a positive business climate registered in several main industries. Businessmen who want to start a company in Cyprus are welcomed to invest on the local market, but it is recommended to firstly study the legal environment available here and also the main investment opportunities. Our lawyers in Cyprus can provide more details on this matter. 

Growing Trends for the Cypriot Shipping Sector

2016-11-17
The Cypriot shipping sector can provide consistent business perspectives to the investors who are interested in opening a company in this field. Following a massive infrastructure project, the shipping sector in Cyprus is experiencing a rapid increase in the gross tonnage. This increase is a direct result of a unique taxation system which was implemented by the Cypriot authorities. It is important to mention that this taxation scheme is currently being adopted by other countries as well. Our team of lawyers in Cyprus can assist investors with more legal details referring to the Cypriot shipping industry. 
 

The Main Aspects of the Cypriot Budget 2017

2016-11-08

The Cypriot authorities approved the Budget 2017, which provides many benefits for the local economy. An important aspect related to the Cypriot Budget 2017 is that the Gross Domestic Product (GDP) will increase by 2,8% per year, in the period of 2017 -2019. Foreign businessmen who are interested in opening a company in Cyprus can have many business opportunities, as the local government is aiming at sustainable growth. In this sense, the Cypriot authorities are interested in increasing the competitiveness in the business environment and to reduce the unemployment rate. Our attorneys in Cyprus can provide more details on how businesses can benefit from the stipulations on the new Budget. 

Reasons to Start a Business in Cyprus

2016-10-04

Although Cyprus is a small European country, its economy provides many business opportunities for both the locals, as well as the foreigners interested in the business environment available here. Some of the most important reasons refer to its economic stability, as well as the numerous economic sectors relevant for the local economy. The highlight of the Cypriot economy is, of course, the tourism industry, which expanded at a fast pace in 2016. Those who want to open a Cypriot company are advised to receive assistance on this matter from a local specialist and our lawyers in Cyprus are prepared to provide in-depth information on any issue referring to the incorporation requirements. 

Tax and Business Incentives for Investments in Cyprus

2016-09-08

Investors searching for a new business market to set up a company are advised to invest in Cyprus, because the local authorities offer many tax and business incentives, which can help a new business grow in a faster pace. One of the top industries in Cyprus refers to tourism, which had very good economic results in 2015 and throughout2016. Our team of Cypriot lawyers can offer assistance on the incorporation procedure, which is performed following the same regulations, regardless the business field in which the company will carry its activities. 

Cyprus, a Forex Hub

2016-08-25

Foreign investors who are seeking for an attractive, stable financial market are advised to invest in Cyprus, which has recently become a very important economy in terms of financial transactions. Since the beginning of the year, the Cypriot economy registered very good results in many economic fields. Businessmen who want to set up a company in Cyprus can receive an in-depth presentation on the incorporation process from our team of Cypriot attorneys. 

Advantageous Policies for the Cypriot Financial Sector

2016-07-28

The Cypriot economy reported very good results during 2016, which boosted several investment markets. The local government announced that the financial sector in Cyprus will be further sustained through various policies which will attract new investments on the local market. Our team of Cypriot lawyers can offer assistance to foreign investors who want to open a company in Cyprus with operations in the financial sector. 

Tourism in Cyprus Increased by 21% in the First Six Months of 2016

2016-07-22

With iconic landscapes and a rich history, Cyprus represents an attractive touristic location for visitors around the world. Cyprus’ economy has always been based on tourism and, therefore, the financial results registered in the field also had good outcomes. 2016 brought a new boost on the local market, as the tourism values increased by 21% in the first six months of the year, compared to the same period of 2015. Businessmen interested in setting up a company related to this industry, such as a tour operator or a travelling agency, can address to our team of Cypriot lawyers for an extensive presentation on the legal requirements which have to be met by such companies. 

Economic Growth of 2,6% for Cyprus in Q1

2016-06-13

With a powerful culture comprised of two nationalities, Turkish and Cypriot, Cyprus is an interesting and attractive investment location. The local economy is developing very fast and one of the main indicators in this sense is the fact that following its admission within the European Union’s (EU) area, in 2004, the country adopted the European currency four years later, in 2008. Foreign investors are advised to invest here, as the economic framework provides positive results. In the first quarter of 2016, the economic growth in Cyprus was set out at 2,6%; our team of Cypriot lawyers can offer more details on the results of the main local industries. 

Positive Economic Prospects for Cyprus in 2016

2016-05-06

Investors can have many business opportunities in Cyprus, as the local economy is developing in a solid pace. Signs of economic increase have been noticed in the decreasing level of unemployment, which reached a record-level. At the same time, the forecasts of the European Commission (EC) for the current year provide a positive sentiment, as the Cypriot economy is set out to increase by 1,7% throughout this year. Those who are considering establishing a company in Cyprus can receive legal advice from our team of attorneys, who can provide assistance for the incorporation of the business or on the taxation system applicable here. 

Economy in Cyprus Will Grow to 1.5% in 2016

2016-02-17

Foreign investors interested in opening a company abroad should know that Cyprus offers very good prospects, as the local economy is expected to grow in 2016 to 1.5%. This marks an improvement, as in 2014, the economy increased by 1.4%. Another important aspect related to the economic development in Cyprus is that Moody’s, the credit rating agency, has upgraded the country’s ranking to B1. If you want to find out more details about the local business market, our law firm in Cyprus can offer you assistance on this matter. 

Cyprus to Replace Double Tax Treaty with Ukraine

2016-02-02

After signing a new double tax treaty several years back, Cyprus and Ukraine have agreed upon a new clause to be entered in the agreement. This new clause would help both countries to enhance economic relations and would provide more advantageous conditions for Ukrainian and Cypriot companies doing business in the two states. Our Cypriot lawyers can provide you with detailed information about trading relations with Ukraine.

Positive Outlook for Cypriot Economy

2015-12-02

Cyprus will be seeing a record economic growth in the year to come compared to 2015. Both the Government and the credit rating agency, Moody’s, have offered good perspectives for the Cypriot economy in 2016. For information related to the country’s current economic situation you can refer to our Cypriot lawyers.

Cyprus Amends Taxation of Immovable Property

2015-11-04

Cyprus amended its tax legislation with respect to the immovable property tax rates at the end of the summer. Under the new legislation, owners of real estate properties will be taxed according to a new and well-defined scheme based on the value of the property. Our Cypriot lawyers can provide you with additional information about the country’s taxation system.

 

Cyprus Issues Guide on Tax Regulations for Companies

2015-10-31

Taking into account the European Union’s modifications related to automatic exchange of cross-border tax rulings, The Cypriot tax authorities have issued a circular with the purpose of establishing efficient procedures for the issuance of advance tax rulings. The authorities hope to create a stable and trustworthy taxation legislation for foreign investors coming to Cyprus. Our Cypriot lawyers can also offer you details about the taxation system.

Cyprus to Enhance Cooperation with Greece and Egypt

2015-10-15

After meeting this spring in Nicosia, the Cypriot, Greek and Egyptian Prime Ministers have recently concluded their agreement for economic and political cooperation. The three countries want to cooperate in order to increase stability in the region and to promote investment between Greek, Egyptian and Cypriot companies. For detailed information about the contents of the “Nicosia Agreement” you can ask our lawyers in Cyprus.

 

Cyprus Has One of the Best Citizenship by Investment Programs in the World

2015-10-11

Based on a recent survey, Cyprus has one of the best citizenship by investment programs for high-net worth individuals in the world. Cyprus is one of the best relocation destinations and favorable taxation systems in the world for foreign citizens looking to leave their native countries. For details about immigration programs you may refer to our lawyers in Cyprus.

Cyprus Amends Income and Special Defense Taxes

2015-09-09

Considering that it is time for an update in the Cypriot tax legislation, the House of Representatives has come with several proposals that would help the country to become more competitive and to attract more foreign investors. Two of those measures refer to the Cypriot income tax and the defense tax. For a complete picture of the taxation system you can get in touch with our law firm in Cyprus.

Cyprus Signs New Double Tax Treaty with Iran

2015-09-02

Cyprus has added Iran on its list of double taxation agreements at the beginning of August. The new treaty for the avoidance of double taxation follows the Organization of Economic Co-operation and Development Model and is meant to increase the economic collaboration between Cyprus and Iran. Our Cypriot lawyers can provide you with more information about the country’s double taxation treaties.

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