Cyprus’ Tax Department has issued on the 30th of June 2017 an expository Circular in relation to the update Tax Treatment of intra-group back-to-back financing arrangements, with effect as from the 1st of July 2017. The Circular applies to all existing and future transactions. Tax rulings issued before the 1st of July 2017 will no longer be valid...Read More

Introduction In Cyprus, the majority of the cases that are related to family matters, such as divorce, property relations, custody of a child and maintenance are resolved by Family Courts. Under certain circumstances the family matters are resolved by the President of the District Court or the Family Courts of the Religious Groups. Jurisdiction Family...Read More

We are proud to announce the establishment of the “KPK LEGAL FOUNDATION”, a charitable foundation set up by our firm to formalise our covert philanthropic work over the past 3 years of purchasing and distributing food, clothing and other necessities to those in need. Contribution to society is one of the core values of our...Read More

KPK Legal has been included as a recommended firm for a second consecutive year by the recently published “Legal 500” rankings of law firms . Legal 500 is an independent legal rankings directory that has been analysing the capabilities of law firms across the world, with a comprehensive research programme. It assesses the strengths of...Read More

The sufficiently high number of companies being incorporated in Cyprus every year, attracting investors from all over the globe from different backgrounds and business cultures could be a reasonable indication that private companies remain the ultimate business vehicles. This short article indents to discuss the types of shares commonly used in the share capital structure...Read More

The Limitation of Actions Law Chapter 15 (the “Law”), used to set a maximum period of time that one had in order to take legal action for a particular breach of law. However, in the Republic of Cyprus due to the existing political situation since the invasion of Turkey in 1974 the Law was suspended...Read More

The Organisation for Economic Cooperation and Development (OECD) has introduced new global standards of exchange of tax information. The European Commission (EC) with its turn has implemented these new standards via Directive 2014/107/EU which introduces the mandatory rules knows as CRS allowing the tax authorities of the European Union (EU) Member States to exchange tax...Read More

A new Act was enacted namely the Law Concerning the Transfer and Mortgaging of Immovable Property (Amended) No. 10 Law of 2015 and accordingly, it shall be read in conjunction with the Articles of the Transfer and Mortgaging of Immovable Property Laws of 1965 to (No.9) of 2015. The purpose of this legislation is to...Read More

The 1980 Tax Immovable Property Law was amended by Law N. 140(I)/2015. More specifically, Law N. 140(I)/2015 amends Article 3.The approved amendment bill which suspends the deadline for the payment of the immovable property tax until the 30th of November 2015 gives the privilege of a discount of 17,5 %, to those who decide to...Read More