We are a full service corporate and commercial boutique law firm.
Service Overview
Our record of success in Commercial Litigation and Arbitration speaks for itself. We have prevailed in numerous landmark commercial and corporate dispute litigation as well as Arbitration cases and we have secured for our commercial clients, or protected them from, numerous multi-million judgments and awards.
Arbitration has proven to be the most speedy and appropriate route to resolving international commercial disputes. Having represented clients in multi-million Arbitration Disputes, our law firm provides legal assistance to its clients in arbitration proceedings both Ad-hoc and institutional in accordance with the main International arbitration regulations. Our experienced Advocates have the necessary skills and knowledge to assist you.
Having been chosen as a beneficial jurisdiction for the registration of companies, unfortunately many investors in such Cypriot companies frequently find themselves at odds with their fellow investors or with the entities themselves. We have handled numerous disputes of this type including derivative actions and liquidation proceedings.
Corporate restructuring and the consolidation of companies may reap many benefits for companies. Our lawyers have proven expertise as they have successfully advised international companies in a number of merger and acquisition transactions.
Our lawyers exercise care and diligence at every stage of the transaction, from a letter of intent through due diligence, closing, and post-closing. It is important to identify and mitigate any noteworthy risks in each transaction.
Cyprus has acquired an excellent reputation in the international corporate arena. Due to the simplicity of the procedure of company registration and administration, low corporate taxation, accession to the European Union and a high level of confidentiality ensured by the Cyprus authorities, it has resulted in constantly increasing interest in Cyprus as a jurisdiction for the incorporation of International Business Companies.
Our law firm offers a whole range of services in this area, covering all of your company’s potential legal needs.
Cyprus provides a straightforward legal procedure for redomiciling in the Republic and presents one of the best all-around options for doing so. Its competitive corporate tax of 12.5% along with holding company friendly legislation, solid infrastructure, abundant company law precedent, EU and OECD membership, as well as a host of tax treaties, have recently supported a surge in applications even from tax havens such as the BVI.
Registration of an International Business Company or a local company in Cyprus consists of several steps, the completion of which takes about 10-12 days if no difficulties arise. Firstly, approval for the company’s name must be received from the Companies Registrar and it is advisable not to copy the names of other companies in order to save time and money because the Registrar will reject it straightaway. Then a memorandum and articles of association must be drawn up and filed with the Registrar. These instruments contain information about the company’s activities, the names of the shareholders, the authorised share capital and the number of issued and paid-up shares that each shareholder holds.
In Cyprus, it is lawful for the absolute owner of the company to use nominee services if it is problematic for him to administer the company from abroad or if he prefers to maintain anonymity with regard to his ownership of a company. According to Cyprus Law, a private company must have at least one director, a secretary and a shareholder and if you are unable to meet these requirements, you can use nominee services for the director/s as well as for the secretary and shareholders. In this case, it is the names of the nominees which are shown in the company’s documentation, not the details of the persons who have purchased their services.
A distinction is made between several organizational forms of companies under the Cyprus Companies Law, Cap. 113: companies limited by shares and companies limited by guarantee, international business companies, which are also governed by Income Tax Law 2002 (118(I)/2002). Furthermore, companies limited by shares can be subdivided into public companies (PLC) and private companies (LTD) and private companies can also be subdivided into exempt companies that are exempt from certain provisions of the Companies Law and non-exempt ones. Partnerships are regulated by the Partnerships and Business Names Law, Cap. 116.
Our office offers a whole range of services in this area, covering all of your company’s potential legal requirements: the registration of a company, nominee services, corporate management and reorganization, etc.
Corporate redomiciliation generally refers to a company transferring its registration and registered office address from one country (hence jurisdiction) to another. Redomiciliation in Cyprus is possible since 2006 and is provided for by sections 354 (Β)-(Θ) of the Cyprus Companies Law, Cap. 113 (‘the Law’). Moreover, it is certainly on an upward trend over the past few years, and this increase is only partially explained by Cyprus’s favourable corporate tax rate of 12.5%. The question therefore emerges, what is this sudden increase fuelled by?
Ask any lay person to cite one reason why a company should redomicile and you are bound to get ‘tax’ as the most popular answer. A more favourable tax regime is one of the principal reasons to change a company’s seat of incorporation, and even if it does not constitute the driving motivation, tax implications of redomiciling should ALWAYS be considered. Nonetheless, Cyprus which enjoys a 12.5% corporate tax is witnessing a surge in redomiciliation from (among other jurisdictions) the British Virgin Islands (BVI), which feature a 0% corporate tax.
Of course, there are numerous other reasons why a company may choose to redomicile, whether practical such as decreased maintenance costs, better management, geographical proximity, and less bureaucracy, or more strategic, such as taking advantage of a country’s memberships and bilateral/multilateral treaties, departing from sanctioned/backlisted jurisdictions, as well as accessing new markets.
Ask any lay person to cite one reason why a company should redomicile and you are bound to get ‘tax’ as the most popular answer. A more favourable tax regime is one of the principal reasons to change a company’s seat of incorporation, and even if it does not constitute the driving motivation, tax implications of redomiciling should ALWAYS be considered. Nonetheless, Cyprus which enjoys a 12.5% corporate tax is witnessing a surge in redomiciliation from (among other jurisdictions) the British Virgin Islands (BVI), which feature a 0% corporate tax.
Of course, there are numerous other reasons why a company may choose to redomicile, whether practical such as decreased maintenance costs, better management, geographical proximity, and less bureaucracy, or more strategic, such as taking advantage of a country’s memberships and bilateral/multilateral treaties, departing from sanctioned/backlisted jurisdictions, as well as accessing new markets.
We know what it means to defend rights. We work with people, for people and strive to always seek justice.
We have been collaborating with Georgiades & Associates law firm for more than 25 years. The level of professionalism of its people and the quality of its services is just superb. We highly recommend this company to any interested party.
Christos Yiangou Managing Directorof BLC Business Links Consultancy Ltd