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Cyprus-Ukraine, Kyrgystan & Tadzhikistan: A Long Lasting Inheritance

Since 2004, Cyprus has become an official member of the EU and has implemented all EU Directives, thus obtaining all the tax benefits granted to intra-community transactions. Cyprus has expanded the applicability of the tax benefits obtained by the EU Directives to all third countries by incorporating the provisions of the EU Directives in its national legislation.

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Cyprus A Gateway For Indian Cross Border Transactions

Since 2004, Cyprus has become an official member of the EU and has implemented all EU Directives, thus obtaining all the tax benefits granted to intra-community transactions. Cyprus has expanded the applicability of the tax benefits obtained by the EU Directives to all third countries by incorporating the provisions of the EU Directives in its national legislation.

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Cyprus Tax Facts 2013

In May 2010 the Cyprus Parliament enacted The Merchant Shipping (Fees and Taxing Provisions) Law of 2010 (the “Law”) which applies retrospectively from 1st January 2010 and which introduces the new Tonnage Tax (TT) Regime. This Law has extended the favourable benefits applicable to owners of Cyprus flag vessels and ship managers, to also include owners of foreign flag vessels and charterers.

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Cyprus Migration Report

Cyprus legislation and specifically article 111 of the Civil Registry law 2002 (N. 141(I)/2002 as amended), provides that, ‘’the Minister of Interior has the right to grant a certificate of naturalization, upon application by any alien adult with full capacity, who satisfies the Minister that s/he fulfills the criteria for naturalization according to the third Table of the law. As soon as the person to which the certificate of naturalization is granted, gives an official declaration of faith to the Republic as it is specified in the second Table of the law, s/he becomes a
citizen of the Republic due to naturalization, from the date the certificate of naturalization was granted’’.

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Facts In Respect Of The Procedure For Granting On Cyprus Citizenship By Exception To Aliens Investors/Entrepreneurs

Cyprus legislation and specifically article 111 of the Civil Registry law 2002 (N. 141(I)/2002 as amended), provides that, ‘’the Minister of Interior has the right to grant a certificate of naturalization, upon application by any alien adult with full capacity, who satisfies the Minister that s/he fulfills the criteria for naturalization according to the third Table of the law. As soon as the person to which the certificate of naturalization is granted, gives an official declaration of faith to the Republic as it is specified in the second Table of the law, s/he becomes a citizen of the Republic due to naturalization, from the date the certificate of naturalization was granted’’.

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Acquisition Of Immovable Property By Aliens (2013)

In Cyprus like most democratic states, the right of ownership in immovable property is constitutionally protected as one of the fundamental human rights. Article 23 safeguards the right of each person to acquire, possess, enjoy or dispose of any movable or immovable property and to demand of others to respect this right. It is not an absolute right and certain restrictions may be imposed on grounds of public safety, health or morality, or for town planning purposes, public utility or the protection of third parties. The Constitution affords protection to the right of ownership to everyone which includes non-Cypriots who have legally acquired property in Cyprus.

 

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Cyprus: International Trusts 2013

The Law does not provide a comprehensive definition of ‘trusts’. Trusts law was largely developed by the courts on a case-by-case basis, and it is through the development of case law which has provided us with a better understanding of what a trust arrangement entails. The basic structure is as follows:

 

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Cyprus The Gateway To German Business

Our long lasting experience enables us to fully understand the needs of your business and contribute towards its success. This publication will concentrate on the business development
between Cyprus and Germany in the context of the new Double Tax Treaty signed in February 2011. A preliminary analysis of the key provisions of the new Treaty is expected to determine the cooperation potentials of the two contracting states in the upcoming years.

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