Following the announcement dated 20/05/2024 by the Tax Department of Cyprus, the Individual’s Personal Income Tax Return (T.D.1) for the year 2023 is available for submission via TaxisNet online platform (https://taxisnet.mof.gov.cy).

On 08 June 2023, the House of Representatives passed a bill amending the current legislative framework allowing for a reduced VAT rate of 5% levied on first homes on the Value Added Tax Law 119(I) of 2016 (the "Law"). The new amendment of the Law is subject now to the European Commission's approval to come into force.

On 20th of November 2022, Stelios Americanos & Co LLC attended as a firm the Radisson Blu Larnaca Marathon.

Thinking about relocating your business? Well, Cyprus should be shortlisted! In a vibrant, multicultural society, Cyprus has what it takes to be the investor's next strategic choice and it consists a competitive choice to relocate your business.

Stelios Americanos & Co LLC held a webinar on Relocation to Cyprus & Greece on 16th November 2022.

On the 16th and 17th June, Stelios Americanos & Co LLC will be attending the Legal Conference Common Law in Europe in Limassol. 

On the 16th and 17th June, Stelios Americanos & Co LLC will be attending the Legal Conference Common Law in Europe in Limassol. 

This video showcases some highlights from the conference on Renewable Energy Sources held on Tuesday April 19 2022, that was organised by our law firm Stelios Americanos and Co. LLC.

To follow is a Q&A session with Dr. Charis Savvides, Partner of Stelios Americanos & Co LLC on the topic of Crypto & Asset Tokenization: Regulatory Developments.

On 9 December 2021, the Cyprus Parliament approved the expansion of the definition of corporate tax residency for Cyprus companies to additionally include the incorporation test.

Stelios Americanos & Co LLC advised the Israeli group Global Knafaim in a $5 million transaction pursuant to which the later acquired a 49,9% in the share capital of TUS AIRWAYS LTD, a Cypriot airline headquartered in Larnaca. Existing shareholder, Kenneth Woolley also invested an additional $4 million increasing the amount of the total transaction to $9 million.

The Government presented the new strategy for attracting skilled workforce and companies in Cyprus on Friday 15 October 2021. This new strategy is mainly focused on high technology, shipping, innovation, and research and development. The new strategy includes a series of incentives concerning residency, taxation, employment and simplification and digitization of the current procedures. The scheme will come into force on the 1st of January 2022.

Our Partner Dr. Charis Savvides delivered an intense seminar at Global Training (Cyprus), on Tuesday, 07 September 2021, at 09:00am. The seminar presented the current and under development regulatory framework on digital assets, addressing the key legislations and regulations which affect or be affected by the disruptive nature of crypto-transactions.

In late June, the Cyprus Securities Exchange Commission (the “CySEC”) issued its new directive on the prevention and suppression of money laundering activities, which specifically focuses on crypto-asset service providers (the “CASPs”) and their duty to register with the CySEC. According to the directive, the CySEC will maintain a public register which will record, inter alia, the name and legal form of such CASPs, the services they will be allowed to offer and their individual internet domains.

Our Partner Dr Charis Savvides was interviewed on Euronews amongst other Cryptocurrency Experts, regarding the controversial statement of Elon Musk on the environmental impact of Bitcoin mining as depictaed by the Cambridge Bitcoin Electricity Consumption Index.

Our Israeli Partner Len Judes, with an experience of over 26 years as a lawyer, gave an interview at Jerusalem Post, regarding the consideration of Cyprus as a Regional and Investment Hub.

Pursuant to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the Minister of Interior has decided to revise the current permanent residency programme (the “Programme”) to include additional investment criteria other than investment in real estate with the purpose of attracting foreign investors and their families to invest in Cyprus.

The film industry constitutes a complex and ever-flourishing sector in the global economy. The industry’s operation occupies multifaceted stages, engages a selection of distinct stakeholders and experts and presents plenty opportunities for all parties who choose to get involved. Committed to boosting this highly promising sector, the government of the Republic of Cyprus introduced a package of incentives, encouraging international producers to choose Cyprus as their next film destination.

Asset tokenization constitutes a relatively new process. Yet, it has been receiving increasing levels of attention across several jurisdictions, with positive indications as to its ability to revolutionize the way different assets are held, traded and used.

This note seeks to provide an overview of some of the key recent developments in the area of competition law with regards to the challenges brought about by the Covid-19 pandemic (“the pandemic”) and the disruption induced by digitalization and online marketplaces.

Following the 2007-2009 global financial crisis, the financial services sector has been subjected to a process of intense regulatory overhauling, leading to many of the complex laws that are applicable today in relation to funds, banks, investment and insurance firms.

Stelios Americanos & Co LLC has joined Dentons New York in assisting Zubr Capital and the European Bank for Reconstruction and Development (EBRD) in a multimillion transaction in relation with their exit from the investment in Enterprise Agile Planning company Targetprocess, following its purchase by Apptio, a leading provider of technology business management solutions.

Coinfirm, the industry-leading RegTech provider and Stelios Americanos & Co. LLC, a highly innovative Cypriot law firm, today announce their joint cooperation.

Cyprus is not only an attractive investment destination, but also the business gateway into the EU.

Globally, it has been highlighted the importance and the need for extended transparency, in business and corporate entities, to combat money laundering, terrorist financing and more generally, the abuse of the financial systems by criminals.

It is our great pleasure to announce that our partner Dr Charis Savvides has been invited to join the Expert Panel of the European Blockchain Observatory and Forum.

The Cyprus Investment Program seemed problematic from the beginning and even the amendments could not save and protect the abuse of the Program. The Cyprus Government decided to terminate the Program with final submission date the 30th of October 2020 after amending the Law regulating the Citizenship by Investment Program. The new policy of the Government let to many rejections of new applications and initiated many revocation procedure for investors who had already received the Cypriot passport.

On the 16th of July 2020, Dr Charis Savvides, Lawyer and Partner at Stelios Americanos & Co LLC, participated in the International Business Law in Practice Webinar.

Our law firm has been participating in, and hosting, a number of seminars, webinars and interviews. Details of some are as follows:

The Cypriot law firm Stelios Americanos & Co LLC organized on 17 February 2020 its first international conference for the year in Tel Aviv in Israel.

Organised by Stelios Americanos & Co LLC with the Bank of Cyprus, the conference aims to highlight the investment opportunities available in business, real estate and tourism

The law firms of STELIOS AMERICANOS & CO LLC and CH.P. SAVVIDES & ASSOCIATES LLC with great pleasure announce that they have merged. The law firm Stelios Americanos and Co LLC (the “Law Firm”) now incorporates by way of merger the law firm Ch. P. Savvides & Associates LLC and, as a result, the partners, lawyers and employees of Ch. P. Savvides & Associates LLC have become partners, lawyers and employees of Stelios Americanos and Co LLC and have moved to the Law Firm’s Nicosia offices.

CyprusProfile talks to Stelios Americanos, Managing Partner of Stelios Americanos & Co LLC, on key areas of opportunity or growth, and expectations for Cyprus in 2018

On 9 October 2015, the General Partnerships Law was amended by Law 114(I)/2015. The amending statute introduced for the first time in Cyprus law the concept of a limited liability partnership with share capital (“Cyprus Limited Liability Partnership”) or (“LLP”).

As a way of introduction, please be informed that the Central Bank of Cyprus (‘CBC’) has revoked the licence granted to FBME Bank Ltd, Tanzania, on 8/9/2003 to operate a branch in Cyprus, as of 21/12/2015.

On the 11 of December 2015, during the Cyprus’ President’s official visit to Ukraine, the new Protocol on the Double Tax Treaty between the two countries was signed between the representatives of the two governments.

A practical guide to tax residency.

Cap. 113, 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). There must also be a company secretary who cannot be the same person as a sole director (s.171) except in the case of a private company where the sole shareholder can be the sole director and also the secretary.

A Cyprus Investment Firm (CIF) is one of the most useful tools in the European Union (and Internationally) if you intend to provide and perform investment services and activities either within Cyprus or abroad on a professional basis on certain financial instruments.