From the 18.12.2018 there is no longer an obligation to pay capital duty of 0.6% on the authorised share capital or any increase thereof. The Council of Ministers abolished this obligation as part of wider measures taken aimed at making Cyprus an even more attractive jurisdiction for the incorporation and domiciliation of companies. Our firm…
Section 64 of the Companies Law (Cap 113) provides that a Cyprus company limited by shares or guarantee and having a share capital, may, if so authorized by its articles of association, reduce its share capital. The reduction of share capital may, in certain circumstances, be used to: (a) return capital to the shareholders that…
In order to provide a simplified legal framework for people who have private and financial interests in at least two countries, both within and outside the European Union, EU Regulation 650/2012 (or “Brussels IV”) was adopted on 4 July 2012 (the “Regulation”). The Regulation entered into force on August 17th, 2015 and is applicable to…
The Wills and Succession Law determine who will inherit a person’s estate when they pass away. Cyprus succession law provides for “forced heirship”. The rules of forced heirship in Cyprus are fairly complex and inheritance depends upon which family members survive the deceased. The significance is that law determines who will inherit a person’s estate…
The legal doctrine of “Lex rei sitae” provides that the law of the country where immovable property (house or land) is situated governs the transfer of title to property. With regards to immovable property registered in the name of diseased persons, irrespective of the country where the death has occurred, Cyprus law applies to such…