Company Liquidation Company liquidation is a legal procedure triggered when a company faces difficulty repaying its debts. It offers a fresh start to those burdened by financial obligations. Usually, it commences with the debtor submitting a request, although creditors can also instigate it. Throughout this procedure, the debtor’s belongings are evaluated, and certain assets may…
Family Reunification Permit in Cyprus – Family members of third-country national employed in Companies of Foreign Interest Introduction In order to preserve family unity, third-country nationals with residence and employment permits are able to exercise their right to Family Reunification for their family members (spouse and minor children), provided that the relevant conditions of the Aliens and…
The Crypto Travel Rule or Transfer of Funds Regulation (TFR) for Crypto Assets – European Union (EU) Cryptocurrency regulations are on the rise all over the world recently. One of the most significant regulatory initiatives in recent years is the Financial Action Task Force (FATF) Travel Rule, which aims to combat money laundering and terrorist…
Table of Contents Introduction Any Purchaser who is a non-EU National and/or a holder of a non-European Passport and/or a non-citizen of the Republic of Cyprus is required to apply for the Acquisition Permit of the Immovable Property, which is subject to the approval of the Council of Ministers. The approval needs to be given…
Updates regarding MiCA, the Travel Rule and more On 20.04.2023, the EU parliament endorsed the first EU rules to trace crypto-asset transfers, such as bitcoins and electronic money tokens and common rules on supervision and customer protection. In a press lease it was stated that green light to new rules for tracing transfers in the…
INTRODUCTION: A EUR1 certificate, also known as a Movement Certificate EUR.1, is a document that is used in international trade to certify that goods being exported from one country to another are eligible for preferential tariff treatment, such as lower tariffs, under the terms of a trade agreement between the two countries. It is proof…
The Non-Habitual Residence (NHR) Programme The Portuguese NHR program was recently (2020) updated in an effort to starch foreigners to Portugal. Successful applicants of NHR can be enjoy decreased income tax on particular foreign income for 10 years. Eligibility for the NHR requires that applicants: * Are existing taxpayers but have not been tax residents…
IntroductionAn Investment Fund can be defined as a collective investment undertaking raising external capital from a number of investors with a view and purpose of investing it in accordance with a defined investment policy for the benefit of those investors.Procedure Initially the establishment and incorporation of a Cyprus company is required in order to obtain…
Naturalisation is the legal process that allows a foreign national to obtain Cypriot Citizenship once she or he has met the legal criteria. In Cyprus dual Citizenship is allowed as there is no restrictions under the Civil Registry Law 2002 neither by the Treaty concerning the establishment of the Republic of Cyprus 1960, which means…
Introduction Cyprus is an island in the Eastern Mediterranean, situated at the crossroads of three continents and civilizations and has been a member of the European Union since 2004 and adopted the euro in 2008. Cyprus’ strategic location has established it as a prominent business hub for worldwide organisations. The island is known for its…