For every sale of your Cyprus Property, the seller/s must submit to the Cyprus Tax office their capital gains tax forms, even if no profit will be made in order to receive the Tax Report as this is needed at the land Registry in order to be able to transfer immovable property and to complete […]
Once you have selected your Cyprus Property, you need to engage an INDEPENDANT Cypriot Lawyer in order to prepare the appropriate legal documentation to enable you to become the legal owner. There are generally 2 options available to purchasers of Cyprus Property: A contract of sale. This is either made with the ‘developer’ / ‘construction […]
If your Cyprus property is on a complex of more than 5 properties, then under Cypriot Law you are required to have a Cyprus Committee who are tasked with looking after the complex in the best interest of all owners. One of the jobs of the Cyprus Committee is to ensure that every year (within […]
Cyprus Company can be closed either by way of strike off from the Registrar of Companies or by way of members’ voluntary liquidation. The main difference between strike off and liquidation is that if the Company is struck-off it may be restored following a relevant application to the court through a Cyprus Lawyer within 20 […]
KYC is an acronym for “Know your Customer”, a term used for customer identification process as per Cypriot Legal System. The customer indemnification procedure is when banks and law firms obtain information about the identity and address of the customers. This process helps to ensure that banks’ services, as well as the Law offices, are not […]
The General Data Protection Regulation – GDPR – became mandatory starting on 25th of May 2018 by the European Parliament. G.Kouzali LLC notes that all Cyprus law firms should have the General Protection declaration which is governed by the provisions of Regulation (EU) 2016/679 of the European Parliament and of the Council on the protection of natural persons with […]
G.Kouzalis LLC notes that Cyprus benefits greatly from its strategic geographical position in the Eastern Mediterranean. As an EU member and a continually evolving international financial centre, Cyprus has become a central business hub attracting countless commercial endeavours, supporting essential partnerships and boasts unlimited untapped investment opportunities. Cyprus tax regime is one of the most […]
G.Kouzalis LLC notes that Cyprus is a well-established international business centre since the structure of a Cyprus company is very simple and straightforward. This reason favours investors seeking to establish companies in Cyprus Law firms. The company formation procedure in Cyprus under domestic law has a simple and straightforward structure. The procedure of Cyprus company formation includes the appointment of a […]
Kouzalis LLC notes that even though Cyprus is considered to be one of the most traditional countries in the European Union, with the 3rd highest rate of marriages (7.5%), compared to its statistics the number of marriages declined from 13.558 in 2016 to 13.062 in 2017. More specifically, civil marriages decreased from 9.632 in 2016 […]
What is like to be a law student? I had the same question before starting my LLB degree. Indeed, everyone can say that it is a new world, with its own distinctive language and culture. Studying law, in Scotland, has been a challenge for me, not only because of the Scottish accent which is indeed […]