This block includes services of a purely legal nature related to a particular area of law governed by separate Codes and Laws.
We can help you in the following legal issues.
Commercial and Corporate disputes & contracts
Almost every transaction in our business or personal life is associated with some kind of contract. Whether we buy or sell goods or services. Contracts are important for corporate life and they are equally important for our personal life.
Common causes of contract disputes
We can help with all types of contractual disputes, including:
Questions arising from a contract review
Questions of offering and acceptance of the contract
Disagreements over the meaning of technical terms in a contract
Errors in the contract
Disputes with business partners or employees
Disputes for failure to fulfill contractual obligations
Our main principles for Contract Dispute Resolution:
Strategy development depending on the case details
Experts specialising on your type of claim/defense
Flexible payment of fees
Total employment law support
From the day you start your business to the day you retire, Elena G. gives you total employment law support.
Here is how our employment law experts keep you safe:
- Preparing your employment contracts and policies and procedures to be in line with Cyprus law.
- Assisting you handle of staff complaints, employment disputes and disciplinary measures.
- Ongoing services on answering to all your employment law questions.
Employment law advice
We will advise you on the HR cases of any complexity, including:
Intellectual Property & Trademarks
Trademarks form one of the most fundamental cornerstones of your business; giving a unique and identifiable character to the services and/or products you provide.
We provide legal support to our clients for intellectual property issues including patent law, trademarks law and the protection of intellectual property law and with matters relating to registration, protection and acquisition of intellectual property rights.
Our IP services include:
- Advisory services in matters relating to intellectual property issues;
- Preparation of strategies for the protection of rights;
- Registration and objection to opposition for your property rights;
- Preparation of agreements and negotiations on the disposal of IP;
Domain names protection.
Property contracts & resolution of disputes
I am confident in my experience and knowledge in field of the real estate law to be able to offer you a complete range of services involving all aspects of the law, including advising on and executing contracts of sale, lease agreements, terms of acquisitions, transfers or financing of the property investments.
It is very important to seek for a legal advice of a lawyer in Cyprus before entering any property deals as the Cyprus property market has its particularities.
As with regards to the disputes related to real estate the most frequents are:
- between the proprietor and the tenant;
- between a seller and buyer;
- over the boundaries of the estate.
It is also important to know that civil wrongs litigations have a limitation period of 6 years.
In case of disputes related to tenancy contracts the limitation period in 3 years.
Tax law & international tax planning
Experienced businessmen normally look which countries offer good business conditions, they have a choice to transfer functions and use advantages from tax treaties, they check alternatives if there are too many regulations and taxes and they may choose to invest where the authorities are less strict.
Our tax planning process includes:
- Determination of existing business processes and tax payers, tax basis and tax rates.
- Advantageous scenarios:
- Favorable regulations
- Lower salary levels
- Allowables (deductions and exemptions)
- Lower tax rates
- Non domicile status
- Integrated approach
- cross border qualification: deductible expenses in one country and tax free profits in another country.
- Optimisation process
- Taxation and social charges:
- tax on business profits
- tax on dividends
- withholding tax
- social charges on employment and self-employment income
- tax on capital gains
- Tax ruling
- Substance requirements
- inheritance tax
- real estate tax
- Other non- tax requirements:
- restructure costs
- work permits
- asset protection
- Recommendation, based on objective aspects and subjective preferences of the client
However it is not the tax saving which is the main goal of tax planning, but also how to increase profits, how to build up good business reputation for the company, how to achieve transparency in business with confidence and peace of mind.
Frequently Asked Questions
Is it true that under Cyprus Law you cannot leave your estate to persons of your choice?
Under the Cypriot forced heirship rules, natural children of the deceased have a right to each inherit a share of their parents’ Cypriot estate equal to the amount inherited by the surviving spouse. This forced heirship makes it impossible to disinherit the deceased’s natural children. Therefore, if the deceased dies leaving natural children or their descendants, an absolute gift to the deceased’s spouse provided for under the terms of a Will, will not be valid.
But EU Regulation governing the succession of European Assets (Brussels 1V) is also in force in Cyprus..
The basic principles of this Regulation and how it relates to persons living in Cyprus and having assets in Cyprus are as follows:-
a) Cypriot law applies to the succession of the estate; and
b) The Cypriot Court has jurisdiction to rule on the succession of the estate
HOWEVER, under a choice of law provision in the Brussels 1V Regulation any person can choose the law of their country of their nationality as the law to govern the succession of their estate within the participating EU states.
The EU Regulation provides that the choice of applicable law has to be made expressly by declaration in a Will.
Otherwise the default position is that the law of your habitual residence will be the governing law for the distribution of your estate.
Under what circumstances is the employer entitled to terminate the employment of an employee without notice?
- The employee is on a probation, the duration of which cannot exceed 104 weeks.
- Serious breakdown of the relationship between employer – employee due to the employee’s misconduct.
- Commitment of serious offences
- Commitment of a crime during his/her employment,
- Inappropriate behavior.
- Serious and/or repeated violation of employment rules.
The Employer should be ready to provide the evidence of the circumstances.
How can the trademark of which I am the holder be registered in other countries?
There are two procedures to have a trademark registered in other countries:
First, an application for registration of a trademark is filed with the Trademarks Office of the European Union, and if granted, the trademark is valid in all the member states of the European Union. This procedure lasts 6 (six) months. It is not necessary to have the trademark registered in Cyprus. There is a risk, however, in this procedure. If an application for a trademark to be registered in one member state of the EU fails, then this failure is applicable in all member states of the EU.
Application for the registration of a trademark can be filed with WIPO (World Intellectual Property Organization) through the system of international registration of marks administered by WIPO. An international application, however, must be filed first with the appropriate national trademark office. If registration procedure is either not accepted or registration not granted by a country an international application can proceed with the remaining countries selected in the application.
Is it possible to become a Cyprus tax resident without 183 stay?
The 60-day rule
The “60 day rule” applies to individuals who meets all of the following requirements within the tax year.
- reside in Cyprus for at least 60 days per annum
- do not reside in any other single state for more than 183 days
- are not tax resident in any other country
- maintain a permanent residence in Cyprus (rented or purchased property)
Qualifying applicants are issued a Residency Certificate and Tax Identification Number.
What is Non-Domicile Status in Cyprus and what are its benefits?
A tax resident individual will be treated as domiciled in Cyprus if they are either:
Domiciled by origin* or
have been a Cyprus tax resident for at least 17 of the previous 20 years (to the date of application for confirmation of the status)
*Domicile of Origin is acquired at birth and generally applies to an individual born to a Cypriot-domiciled father.
All other tax residents are deemed as Non-Domiciled.
The Tax Department should confirm with its letter the non domicile status of the individual on his application.
Tax Efficient Benefits
Whilst Cyprus tax residents are subject to tax in Cyprus on their worldwide income. The following tax efficient benefits apply to non-domiciled tax residents:
- Low progressive income tax rates with the first €19,500 being tax exempted
- No income tax on salaried services rendered outside Cyprus for more than 90 days in a tax year
- A 50% income tax exemption on income from Cyprus based employment, provided that income exceeds €100,000 per annum
- No tax on profits from disposal of securities, including shares, bonds, options and units in collective investment schemes
- No income tax on dividend and interest income for 16 years
- Tax free repatriation of profits and capital
- Overseas Pensions income that exceed the amount of €3420 euro annually is taxed at only 5%.
- No Capital Gains Tax on assets other than immovable property situated in Cyprus
- No wealth tax
- No inheritance tax
- No gift tax
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