Corporate & Commercial Law
The Firm specialises in offering boutique corporate and fiduciary services through bespoke solutions that fully address the unique needs and requirements of a distinguished portfolio of clients. The Firm’s diverse corporate and commercial specialisation includes advice and complete transactional management of all types of cross-border transactions, as follows:
- Formation, Acquisition and Sale of Cyprus companies, acting in both situations respectively: international acquisition and international sale;
- Corporate Restructuring;
- Shareholder Agreements and Corporate Governance issues;
- Cross-border Mergers and Acquisitions, including EU Multi-Company Mergers;
- Joint Ventures;
- Capital-Raising Transactions;
- Corporate Management;
- Redomiciliations of Companies and Migration of Trusts to and from Cyprus.
Intellectual Property & IP Box
Intellectual Property
In addition to successful registration of IP rights, the Firm has experience in assisting its clients to qualify for the IP Box Regime (the “IP Box”) in Cyprus in respect to assets developed after 1 July 2016; in particular the Firm has assisted international computer software companies qualify their “intangible assets” under the IP Box. The Cyprus IP Box Regime is based on and fully compliant with the OECD BEPS Action 5.
Under the Cyprus IP Box regime a company procures a deduction of up to 80% of the income received from qualifying assets. These qualifying assets are patents as defined in the Patents Law, computer software or other IP assets which are legally protected and specifically defined in the legislation.
Under the IP Box a Cyprus company can reduce corporate tax to under 2.5%, subsequently rendering Cyprus more attractive than other jurisdictions compliant with the IP Box, for instance Luxembourg.
The Firm offers a detailed presentation for guidance on the IP Box upon request.
Vessel Registration | Leasing | Family Office Services
Cyprus Ship Registration & Yacht Registration
Cyprus is on both the Paris and the Tokyo MoU White Lists, it is therefore,
no surprise that the Cyprus Registry is classified as the third largest merchant fleet in the European Union. In 2010 Cyprus introduced an EU-approved tonnage tax system that allows companies the right to choose to be taxed on the net tonnage of the fleet which they operate instead of their Profits. Cyprus has the only EU-approved “Open Registry” and that is why over 1,600 ships fly the Cyprus flag. Cyprus has signed 23 Bilateral Agreements through which Cypriot registered vessels receive either national or favoured nation treatment in the ports of those
23 states.
Cyprus levies No (0%) tax on:
- Shipping activities (other than “Tonnage Tax”);
- Shipping profits, including profits on the sale of ships;
- Dividends paid from shipping profits;
- Income tax for seafarers on ships registered under the Cyprus flag;
- Stamp duty on documents.
The Firm is experienced in forming and managing both ship and yacht owning companies, as well as making registrations under the Cyprus flag.
Vessel Registration & Holding Management
Vessel Registration & Holding Management
Yacht Registration | Yacht Leasing | Family Office Services
In addition to Cyprus’ attractive vessel registration legislation, the country offers a brand new yacht leasing scheme introduced in April 2019, that replaces its popular predecessor allowing for significant VAT savings on the purchase of pleasure boats and yachts.
The Firm offers details on the new yacht leasing scheme by consultation.
Family Office Yacht Holding and Administration
Cyprus has become the jurisdiction of choice for relocating family offices and for holding family assets (see why under “Wealth Protection” and “Cyprus Headquartering & Relocation” Services in the present Prospectus). The Firm registers, manages and administers yacht and aircraft holding companies and has experience in redomiciling asset holding companies to Cyprus.
The Limassol Marina was awarded in May 2019 the “5 Gold Anchor Platinum” award by the Global Scheme, jointly administered by the UK’s The Yacht Harbour Association (TYHA) and Australia’s Marina Industries Association (MIA). This award places the Limassol Marina fifth among the world’s marinas.
The Firm provides family office services by consulation only.