G. Vrikis & Associates LLC – Sida 11 – G. Vrikis & Associates LLC

Work Permit Application For Employees of International Companies

07/11/2016G. Vrikis & Associates LLCImmigration, Updates

A. ELIGIBLE COMPANIES All companies of foreign interests, including international companies (ex-IBCs), in order to be eligible to employ third country nationals in Cyprus, should fulfil the following:

Cyprus Government updates the Cyprus Citizenship by Investment Scheme

13/10/2016G. Vrikis & Associates LLCImmigration, Updates

As of September 2016, Cyprus has proceeded with amending the criteria for its Citizenship by Investment Scheme. Under the amended legislation, the criteria set forth make the obtaining of the Cyprus Citizenship even easier. Compared to the previous scheme, thresholds are considerably lower

Summary of Procedure for Registering a Branch in Cyprus

23/08/2016G. Vrikis & Associates LLCLegal, Updates

A. Introduction The ability of foreign entities to register a Branch in the Republic of Cyprus has been available for many years, and is covered by Section 347 of our Companies Law, Cap. 113 (hereinafter, the “Law”).

Cyprus – Notional Interest Deduction Scheme

18/08/2016G. Vrikis & Associates LLCFinance, Updates

By way of Circular No. 2016/10 issued by the Cyprus Tax Authorities on the 1st August 2016, further information and clarifications were given as to the application of this Scheme and the interpretation of its various terms and definitions, which are expected to provide valuable guidance as to

Cyprus – Amendments to the Immovable Property Tax Law

28/07/2016G. Vrikis & Associates LLCFinance, Updates

By a decision of the House of Representatives in July 2016, amendments have been made to the Immovable Property Tax Law (the “Property Tax”). The amendments have been published in the Official Government Gazette as of the 25 July 2016 and have taken effect as of that date, and

Cyprus and Jersey – Signing of Double Tax Treaty

14/07/2016G. Vrikis & Associates LLCFinance, Updates

Cyprus and Jersey signed a treaty for the avoidance of double taxation on income based on the model convention for the avoidance of double taxation of the Organisation of Economic Cooperation and Development (OECD), the finance ministry said.

Cyprus – Overview of Stamp Duty Provisions

11/07/2016G. Vrikis & Associates LLCLegal

1. Law and Applicability Under Cyprus Law, stamp duty is governed by Stamp Duty Law (19/1963), as amended from time to time (the “Law”). The Stamp Duty Law, under Article.4 (1) therein, provides that the documents specifically named in its first schedule of the Law are subject to stamp duty if the documents:

Cyprus and Bahrain – Activation of Double Tax Treaty

17/06/2016G. Vrikis & Associates LLCAnnouncements

IN continuation of our previous Tax Update on the 1st of March 2016, the law firm of G. Vrikis & Associates LLC would like to inform you that following the completion of the relevant ratification procedures in both Cyprus and Bahrain, the double tax treaty between the two countries has entered into force on 26...

Cyprus and Latvia sign a Double Tax Treaty

16/06/2016G. Vrikis & Associates LLCAnnouncements

AS of the 24th of May 2014, Cyprus and Latvia have signed a Double Tax Treaty between the two countries. The Double Tax Treaty has been subsequently published in the Cyprus Official Gazette on the 3rd June 2016.

Cyprus – Defamation within the ambits of a Shareholders’ Meeting.

15/06/2016G. Vrikis & Associates LLCLegal

Introduction The right to attend, speak and debate within a shareholders’ meeting, whether extraordinary or annual, is governed by the provisions of Cyprus Companies Law, Cap. 113, in conjunction with the provisions of the company’s Articles of Association.

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