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PUBLICATIONS

On the 3rd of November 2017 certain changes were made to the VAT legislation relating to immovable property in Cyprus.
After many years of uncertainty, the UK officially left the EU on 31st January 2020. The UK immediately entered into a transition period which is scheduled to last until the end of the year in order to provide time for a new relationship between the UK and the EU to be agreed. During the transition it may seem as if nothing has changed. The UK will remain in the EU Customs Union and Single Market and will continue to apply and be bound by all EU laws. This will include EU laws on free movement of goods, services and capital, competition laws, worker's rights, etc.
A private limited company registered in Cyprus is prohibited by its articles from inviting the public to subscribe for any shares or debentures of the company.
A company may have classes of shares, for example, where different shares have different rights i.e. to vote or to receive dividends in return for their capital contributions. Shareholders receive their share of the profits by way of payment of dividend.
Cyprus Companies Law provides that every private company must have at least one director and every public company must have at least two directors (s.170).
The Companies Law has been recently amended by Law 90(Ι)/2013 published in the Official Gazette on 26 July 2013. The amendment effected is the following:
Income tax in Cyprus is based on the principle of tax residence.  A company is resident in Cyprus for tax purposes if its management and control are exercised in Cyprus. 
Under Section 347 of the Companies Law (Cap 113), companies incorporated outside the jurisdiction of the Republic of Cyprus may register a branch in Cyprus. 
In Cyprus, there are two main methods of dissolving a company voluntarily.  The easiest and cheapest method is the strike off method under Section 327 of the Companies Law Cap.113. 
Policy for international business companies in Cyprus
The procedure of re-domiciliation of a foreign company to Cyprus is straight-forward. 
In January 1993, frontier controls on the movement of goods between EU member states were abolished and importers and exporters in EU trade no longer were required to complete customs documentation.
The Cyprus International Trusts Law (Law no. 69/1992) remained unaltered since its enforcement back in 1992. 
V.A.T. is imposed on all imported commodities whether the importer is a person liable to V.A.T. or not. Οn importation, it is considered as an import duty and it is charged and paid at the time at which the import duty is paid according to the customs legislation.
Visitors from abroad can get Value Added Tax (V.A.T.) refund on goods purchased in Cyprus from shops that use the retail export scheme.
Directors have powers to take majority business decisions on behalf of the companies. Consequently, various duties are imposed on them, to ensure that the companies’ interests are protected.
Any mark that is capable by itself of distinguishing the goods of one undertaking from those of other undertakings.
The Cyprus Parliament passed a law implementing the Anti-Tax Avoidance Directive (ATAD 2016) on 5.4.2019 with effect as from 1.1.2019.