N. Pirilides & Associates LLC


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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). 
Cyprus registered companies offering administrative services to other Cypriot registered companies need to be authorised by the Cyprus Securities and Exchange Commission (hereinafter called the ‘Commission’).
What will the reforms bring and how will they affect travellers?
Registration with VAT Authority   A person/company is obliged to register with VAT Authority when:
Cyprus is an ideal place for the establishment of a medical centre, due to its fine climate (combination of health care and holidays in Cyprus), the known Cypriot hospitality, the professionalism of the workforce and due to its distinctive and unique location.
The Companies Law has been amended by Law 90(Ι)/2013 published in the Official Gazette on 26 July 2013.  The amendment effected is the following: Keeping books of account
Under the 1992 law, in order to prevent tax avoidance, permanent residents of Cyprus were prohibited from establishing international trusts. The concept of permanent residence was not defined in the 1992 law or elsewhere. It was unclear whether settlors could relocate to Cyprus after establishing a Cyprus International Trust, and the resulting doubt discouraged many from doing so.
In Cyprus, there are two main methods of dissolving a company voluntarily.  The easiest and cheapest method is the strike off method and the Members’ Voluntary Winding Up method. 
Acquiring Cyprus citizenship entitles a person, amongst others, to live and work in Cyprus without any restriction as well as travel without any formalities within the EU. There are essentially 4 ways in which an alien can acquire Cyprus Citizenship: (a) by naturalization, (b) investment by exemption, (c) through marriage to a Cyprus citizen, and (d) due to Cypriot origins.  
Changes in tax bands Reduction in tax free allowance and increase in tax rates Extension of deadline for payment of 2013 tax
The following models of forex are regulated by the Cyprus Securities and Exchange Commission.
Due to the law taxation in Cyprus, our country is an attractive place to register a ship under the Cypriot Flag or to register a shipping company.
All companies of foreign interests, including international companies (ex-IBCs), in order to be eligible to employ third country nationals in Cyprus, should fulfil the following criteria. 
Cyprus Investment Firms (‘CIFs’) may not provide investment services or perform investment activities in third country jurisdictions without first seeking the necessary prior authorisation by the Cyprus Securities and Exchange Commission.
Law 4146/2013 gives the opportunity to  foreigners who intend to invest in Greece.  Such residence permits are available to foreign (non-EU) natural persons (the Applicants) and the members of their family or legal persons in which such natural person(s) is the sole shareholder.
On 16.5.2013 the Ukrainian government submitted a draft law to the Ukrainian parliament to ratify the new double tax treaty and Protocol between Cyprus & Ukraine, which was signed on 8 November 2012.
The CySEC has published a circular to CIFs and providers of fiduciary services licensed and supervised by CySEC.
According to the provisions of Regulation 6(2) of the “Aliens and Immigration” Regulations, third country applicants must fulfil the following criteria in order to be able to apply for such immigration permit: