Cyprus – Update on COVID-19 Restriction Measures The spread in the community was assessed and taken into account, as well as the risk of specific activities, where there is an increased risk of high spread of the virus. Specifically and analytically, the measures are categorized into three groups as follows: Category A. Medium-term measures in...Read More

On the 13th October 2020 the Council of Ministers has decided to proceed with the Termination of the Cyprus Citizenship Scheme, citing reasons of weakness into the review and due diligence system and various loopholes which potential investors took advantage of. The above decision shall come into force as of the 1st November 2020. Any...Read More

With an overwhelming majority of votes, new laws and regulations will be formed, aiming road safety and a decrease in Cyprus’ high number of road deaths and serious injuries. From 1st October 2020, the penalties for violations of the Traffic Code will alter and there will be an increase of incoming fines for speeding, alcohol,...Read More

The Council of Ministers, during its assembly on the 31.7.2020 has made changes to the current Cyprus Investment Programme, affecting applicants as per the 17-18.8.2020.  In general, the main new terms are as follows: All applicants must, during the 5 years, for which they are obligated to keep their investment and residence, provide the Ministry...Read More

The Law Firm of G. Vrikis & Associates LLC would like to bring to your attention the recent change in the procedure of attaching stamp duties based on their value. As of the 27th of July 2020, the procedure for affixing Stamp Duties changes based on their value, as indicated by the relevant announcement posted...Read More

A common occurrence relating to private limited liability companies in Cyprus and indeed throughout the world, is a disagreement arising between the shareholder(s) of the company and the directors, typically relating to day-to-day management issues in which the Directors normally hold power over. Such disputes can be solved through the provisions of the Cyprus Companies...Read More

Cyprus has always been keen to provide a competitive edge for business activities on a global scale and to this effect, Cyprus has ensured that it can provide an attractive regime to benefit one of the most valuable assets of any business, its Intellectual Property. As such, Cyprus offers a beneficial tax rate and is...Read More

Within the framework of the ongoing process of reviewing the measures taken to address the current crisis due to the COVID -19 pandemic and the declared will of the Government and the President of the Republic himself to stand in solidarity with the workers and following the evaluation by the Ministry of Labour, Welfare and...Read More

We would like to update you that the Cyprus Parliament, in response to the ongoing emergency relating to the COVID-19 Virus, has passed the following laws and/or amendments to existing laws, in an effort to provide fiscal assistance to citizens and businesses. The decisions were passed on Friday 27/03/2020 and shall take effect upon publication...Read More

The Shipping Deputy Ministry (SDM), in an effort to support shipping companies and owners of Cyprus ships and to enable them to address the difficulties encountered due to the wide spread of the coronavirus outbreak, has decided to extend the date of payment of the Cyprus Registry Maintenance Annual Fee and the tonnage tax of...Read More