New Criteria for the Permanent Residence Reg. 6(2) program as of 24th April 2023
On the 27th April 2023, the Civil Registry and Migration Department announced the new amended requirements for the submission of applications for permanent residence permit Reg. 6(2) to be submitted on the 02/05/2023 onwards. The main amendments to the criteria...
Asset protection of beneficiaries in Trusts against claimants
In this article we would like to analyze several key parameters related to the Chabra injunction. In essence it is a freezing order, granted under article 32(1) of the Courts Law L.14/60, but oposed to a Mareva injunction, it is directed to a third party which is not...
Rights of Landlords vis a vis statutory tenants
In this article we will focus on rights of landlords vis a vis their statutory tenants (tenants who have renewed the initial rental period in consensus with the landlord and continue to maintain, legally, possession of the property) according to the Rent Control Law...
Why invest in Cyprus Property now
The best time to invest in Cyprus Property is now. After its economic collapse, Cyprus is emerging as one of the best destinations for value property investing. The government is working hard to attract foreign investments offering generous incentives including Cyprus...
Partnership Announcement: PAHALAW & XEROF
We are proud to announce a new partnership with XEROF, a Swiss regulated crypto friendly gateway for real estate and OTC exchange. XEROF is a VQF/ FINMA regulated crypto exchange brokerage in Switzerland and in collaboration with its custodian bank Maerki Baumann Co....
So, how is crypto taxed in Cyprus?
In this article we will be explaining various tax implications related to cryptocurrencies regarding the applicable tax regime in Cyprus in order to assist the public to grasp a basic idea of its tax exposure when submitting its annual tax returns whether on a...
CySEC issues license for Crypto Asset Service Providers “CASPs”.
With reference to the above-mentioned subject, we would like to bring to your attention the Directive (R.A.D. 269/2021) which has been issued by the Cyprus Securities and Exchange Commission (the “CySEC”) on the 25th of June, 2021 as per article 61E of the Prevention...
Immigration, Tax, Corporate & Regulatory aspects of cryptocurrencies in Cyprus
Cyprus as a full member of the EU is indeed a favorable jurisdiction to set up a Company for the purpose of such trading activities including crypto currencies due to its low corporate tax, being 12,5% on gross income annually. Companies can further take advantage of...
TAX OPTIMIZATION WHEN CRYPTO-TRADING IN CYPRUS. SHOULD I OPT IN?
At PARPARINOS & HADJIPANAYIS LLC, we constantly strive to be ahead of times and follow all regulatory, tax, banking and legislative developments across EU, worldwide and Cyprus to be in position to best advice interested parties while providing turnkey solutions,...
EU legal framework for Markets in crypto-assets & introducing stablecoins. What’s next?
The European Commission has recently issued a draft proposal [https://ec.europa.eu/finance/docs/law/200924-crypto-assets-proposal_en.pdf] for a potential and upcoming Regulation of the European Parliament and of the Council on Markets in crypto-assets (MiCA) with the...
