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Great news for the Cyprus business community! In a landmark decision, the annual company fee of EUR 350 will be abolished starting in 2024. This pivotal change, enacted through the Companies (Amendment) Law 2024, N.25(I)/2024, is set to significantly reduce the operational costs for registered businesses, fostering a more conducive environment for growth and investment...

Registered Alternative Investment Funds (RAIFs) in Cyprus have become a significant part of the island’s investment framework, offering a flexible and cost-efficient vehicle for investors looking to capitalize on opportunities across various asset classes. This article draws upon insights from Savva & Associates, a leading provider of tax and advisory services, to explore the advantages...

Further to our article dated 29/10/2023, the Registrar of Cyprus Companies and Official Receiver (RoC) has announced the so-called “final solution’’ system following the “intermediate solution’’ system regarding the UBO register in order to comply with the European directive for the Prevention and combating of the legalization of income from illegal activities of 2021 (Κ.Δ.Π....

By Charles Savva Purchasing property in Cyprus can often have a number of potential pitfalls.  We always urge potential purchasers to exercise extreme caution when buying a property, particularly if the title deed is not readily available, being a common scenario encountered when purchasing new property in Cyprus. We are regularly approached by EU and...

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