Кипр проголосовал за законопроект о реформе международных трастов. Закон с поправками был опубликован в официальном бюллетене от 23.03.2012.

Закон Кипра о международных трастах оставался неизменным с момента его принятия в 1992г. Понимая, что траст имеет потенциал  использоваться в качестве канала для иностранных инвестиций на или через Кипр, законодательством были осуществлены поправки в правовую базу с целью достижения максимального привлечения инвестиций.

 Новый закон был одобрен кипрским деловым и правовым сектором. Это шаг вперед предоставлению Кипру более конкурентоспособный траст юрисдикций и дальнейшей модернизации Кипра, как международного экономического центра.

Основные Изменения в законе

Резидентный статус посредников, бенефициаров и попечителей

Раздел 2 закона 92 года был изменен. Новый закон предусматривает, что учредитель не должен быть резидентом Кипра в период, предшествующий году заключения траста.

Согласно старому закону, было не ясно, может ли учредитель проживать на Кипре после формирования международного траста и эта неопределенность обескураживала учредителей. Поправки к разделу 2 проясняют, когда и сколько человек может находиться на Кипре и его права как учредителя в международном трасте. То же самое касается бенефициаров, а именно: получатель не должен быть резидентом Кипра в год, предшествующий году заключения траста. Исключением являются благотворительные фонды, в которых бенефициары могут быть резидентами Кипра.

Что касается попечителей, обязательным является то, что  один из них должен быть резидентом Кипра  в течение всей продолжительности Траста.

Полномочия учредителя

Все вопросы, касающиеся кипрского международного траста, определяются в соответствии с действующим законодательством Республики Кипр. Всё это в полной мере относится к фидуциарным полномочиям и обязанностям попечителей.

Новый закон (раздел 3) предусматривает, что международный траст ни будет считаться недействительным или оспоримым в связи с тем, что правовые положения, которые действуют в любой юрисдикции, запрещают или не признают содержание Траста.

Срок действия международного траста

Согласно 1992 году закон о международных Трастах мог быть действительным до 100 лет со дня своего основания, за исключением благотворительных трастов и тем которым было разрешено существовать вечно. Новый закон отменяет все ограничения на продолжительность трастов.

 Что касается международного траста, который был создан во время или после вступления в силу нового Закона предусмотрено, что нет предела времени, в течение которого траст может оставаться в силе.

Полномочия доверительного лица инвестировать в движимое и недвижимое имущество

В Статью 8 Закона 1992 года были внесены поправки. Доверенное лицо может теперь иметь, содержать и вкладывать средства в движимое имущество, на Кипре и за рубежом, включая инвестиции в акции компаний, зарегистрированных на Кипре и в недвижимое имущество, расположенное на Кипре или за границей.
Новый закон признает уже существующие полномочия Доверенного лица, и некоторые из наиболее важных полномочий являются:

1. распределять капитал;
2. нанимать;
3. Чтобы заимствовать;
4. Для ипотеки;
5. Для обеспечения;
6. Чтобы инвестировать / одалживать деньги;
7. Для осуществления платежей для/от имени бенефициаров, а также
8. Для продвижения денег к другому трасту

Налоговые преимущества международных трастов
Международные трасты являются идеальным решением для защиты активов, наследования и налогового планирования. Польза от использования таких трастов выделяет Кипр как одним из самых выгодных трастовых юрисдикций.

Согласно статье 12 Закона, если бенефициар такого Траста является резидентом Кипра, то доход или прибыль, возникшая на и из Кипра, будет облагаться налогом на Кипре.
Кроме того, в случае, если бенефициар не является резидентом Кипра, то доход или прибыль такого траста, возникший на территории Кипра, облагаются налогом в соответствии с налоговым законодательством Кипра. В действительности любой доход или прибыль этого траста, возникший за пределами Кипра не облагается налогом на Кипре.

Следует также отметить, что определение термина «резидент Кипра»  относится в соответствии с налоговым законодательством.

Конфиденциальность

Конфиденциальность и тайна до сих пор сохранились с новым Законом и Доверенным лицом, защитник или правительственный орган, не имеет права раскрывать информацию или документы, относящиеся к:

1. учредителю,
2. бенефициарам,
3. доверенным лицам, и
4. имуществу Траста,

 ,В том случае если вышеуказанное не будет запрошено судами Кипра.

Заключение

Все эти поправки к закону Кипра о Международных Трастах, несомненно, будут продвигать Кипр как один из наиболее благоприятных Трастовых юрисдикций, а так же дал выгодный налоговый режим на острове, новое законодательство, как ожидается, будет одним из самых полезных инструментов в налоговом планировании для иностранных инвесторов.

N. Pirilides & Associates LLC | Multilysis Services Limited

The Cyprus House of Representatives voted in favour of the Bill for the much anticipated reform of the Cyprus International Trusts Law and the amendments were published in the Official Gazette of the 23rd of March 2012.

The Cyprus International Trusts Law remained unaltered since its enforcement back in 1992.  Realising that Trusts have the potential of being used as the channel for foreign investments in or through Cyprus, legislature examined the concerns and attempted to improve the already existing legal framework in such a way so that to achieve the boosting of such investments.

The amended new Law indeed modernises the legal framework for international trusts and is expected to boost investments in Cyprus.  The new Law has been welcomed by the Cyprus legal and business sector since it is a step forward in rendering Cyprus a more competitive trust jurisdiction and it further upgrades Cyprus as an International Economic Centre.

Major changes to the law

Residency Status of Settlors, Beneficiaries and Trustees

Section 2 of the 1992 Law was amended. The new Law provides that the settlor should not be a Cyprus resident in the year, preceding the year of the establishment of the trust.

Under the old law, it was not clear whether a settlor could reside in Cyprus after forming an International Trust and this uncertainty discouraged the settlors from relocating.  The amendments to Section 2 clarify when a person/s can reside in Cyprus and still be eligible as a settlor under an International Trust. The same applies to beneficiaries; namely the beneficiary should not be a Cyprus resident in the year preceding the year of establishment of the trust. The only exception is that of a charitable trust where the beneficiaries could be Cyprus residents at any given time.

Regarding the trustees, it should be noted that at least one of the trustees should be resident of Cyprus during the whole duration of the Trust.

Validity of International Trust

All matters relating to a Cyprus International Trust shall be determined in accordance with the applicable laws of the Republic of Cyprus.  Anything relating to the validity, interpretation or effect of any trust or transfer shall be governed by the Laws of Cyprus. The same will apply to the fiduciary powers and duties of trustees.

The new Law (Section 3) provides that no International Trust would be considered void or voidable due to the fact that the legal provisions that are in force in any jurisdiction prohibit or do not recognize the substance of the Trust.

The Law clearly states that the inheritance laws of any other country will not be enforced in Cyprus by the Cyprus courts and this provision confirms that the heir-ship provisions in succession laws of foreign countries will not apply to a Cyprus International Trust.

Powers of the Settlor

Section 4A was added to the new Law, extending the powers of the settlor.  Revocation and modification of the terms of the trust by the settlor is now allowed.  Additionally, a settlor may instruct the transfer, distribution, payment or transfer of income or capital from the trust property or the issue of binding instructions and/or directions with regards to the above.  The settlor may also appoint or remove a Trustee, a Beneficiary or a Director of any of the companies that belong to the trust or the settlor can act as a director himself and a settlor may also issue binding instructions to Trustees in relation to the exercise of any power. The most important change however is the fact that the settlor can now choose the applicable law that will govern the Trust and change the governing law or the forum of administration of the Trust.

Duration of Trust

Under the 1992 law, an International Trust could be valid for up to 100 years from the date of its establishment, with the exception of charitable and purpose trusts which were permitted to exist in perpetuity.  The new law abolishes all restrictions on the duration of trusts.

With regards to an International Trust which was established during or after the entry into force of this new Law, it is provided that there is no limit in the period over which a trust may continue to be valid and enforceable.

Notwithstanding anything to the contrary contained in the terms and conditions of the trust, no concession, distribution, payment, holding or disposal of the income or capital of the trust to another trust is invalidated solely on the ground that the other trust continues to be valid and enforceable after the date on which the former trust must come to an end.

Definition of Charitable Institutions

The new Law redefines charitable institutions. According to Section 7, International Trusts are considered as charitable institutions where the trust has as a main objective to achieve one or more of the following purposes:

1. Prevention or alleviation of poverty;
2. Promotion of education;
3. Promotion of religion;
4. Promotion of health or salvation of life;
5. Promotion for the development of citizens and of the community;
6. Promotion of art, culture, heritage or science;
7. Promotion of amateur sports;
8. Promotion of human rights, dispute settlement or reconciliation or the promotion of religious or national harmony or equality and individuality;
9. Promotion of the protection or development of the environment;
10. Relief needs arising from young or advanced age, ill health, disability, economic hardship or other disadvantage;
11. Promotion of the welfare and protection of animals; and
12. For any other reason for the benefit of the general public or which is consistent with paragraphs (a) – (k) above.

Power of Trustee to invest in movable & immovable property

Section 8 of the 1992 Law has been amended.  The Trustee may now hold, maintain or invest in movable property in Cyprus and abroad, including investments in shares in companies registered in Cyprus and in immovable property located in Cyprus or abroad.

The new Law recognises the already existing powers of Trustees; some of the most important powers are:

1. To make capital distribution;
2. To employ;
3. To borrow;
4. To mortgage;
5. To guarantee;
6. To invest/lend money;
7. To make payments for/on behalf of beneficiaries; and
8. To advance money to another trust

Tax Advantages of International Trusts

International Trusts are ideal for asset protection, inheritance and tax planning.  The benefits arising from the use of such trusts distinguish Cyprus as one of the most advantageous trust jurisdictions.

According to Section 12 of the Law, if the beneficiary of such Trust is a resident of Cyprus then the income or profits of such trust which arise in and out of Cyprus will be taxed in Cyprus.

Additionally, in case the beneficiary is not a resident of Cyprus, then the income or profits of such trust that arise within Cyprus are taxed according to the tax laws of Cyprus. In effect any income or profits of such trust that arise outside Cyprus are not taxed in Cyprus.

It should further be noted that the definition of a ‘resident of Cyprus’ has the meaning attributed to the term under the Income Tax Laws.

Confidentiality

Confidentiality and secrecy are still preserved under the new Law and the Trustee, the Protector or any Governmental body is not entitled to disclose information or documents relating to:

a)      The settlor,

b)      The beneficiaries,

c)       The trustees, and

d)      The property of the Trust,

unless the above are ordered by the Courts of Cyprus.

Conclusion

All the above amendments to the International Trust Law of Cyprus will certainly promote Cyprus as one of the most favourable trust jurisdictions and given the island’s beneficial tax regime, the new legislation is expected to be one of the most useful tools in tax planning for foreign investors.

Cyprus Lawyers N. Pirilides & Associates LLC  | Cyprus Corporate Services Multilysis Services Limited

Следующая информация и / или документы будут необходимы для получения разрешения Советом Министров на приобретение недвижимости иностранцами:

1. План местности

2. Копия документа, устанавливающего правовой титул на землю  и  Земельного кадастра, сопровождающего правовой титул собственности, которая будет приобретена.

3. Копия разрешения на строительство для возведения дома или любого другого здания, или разрешение жилищного строительства на земле. За землю, которая находится под разделением такое разрешение должно быть также подано.

4. Копия договора купли-продажи, заверенная печатью.

5. План дома / квартиры. В случае разделения земли, план не требуется. В случае жилищного строительства,  будет необходим план, в котором будет показано точное       местоположение застройки на территории всего земельного участка.

6. Общая площадь в кв.м. приобретаемого имущества.

7. Документы, свидетельствующие о финансовом статусе заявителя.

8. Копия паспорта заявителя и паспорта мужа / жены, включая все страницы, показывающие штампы их прибытия на Кипр и выезда из Кипра должна быть поданы.

9. Копия свидетельства о браке заявителя или соответствующее свидетельство из посольства своей страны  (это относится к случаям, где фамилия жены и мужа различны или если    жена не меняла девичью фамилию ).Свидетельство о браке должно быть официально переведено на греческий или английский языки.

10. Копия разрешения на жительство или разрешения на работу на Кипре.

11 Надлежащим образом заполненное и подписанное заявление Comm 145.

12. В случае, если заявителем является компания или заявитель является акционером оффшорной компании, все соответствующие сертификаты компании (акционеров, директоров и зарегистрированный офис компании) обязательны для предоставления. Кроме того, должны быть поданы копии меморандума и устава компании.

13. Кроме того, акционеры компании-заявителя и их мужья / жены должны предоставить копии паспортов, и подтверждение в случае наличия недвижимого имущества на Кипре.

http://www.pirilides.com/ru

http://www.multilysis.com/ru/

The Cyprus House of Representatives voted in favour of the Bill for the much anticipated reform of the Cyprus International Trusts Law and the amendments were published in the Official Gazette of the 23rd of March 2012.

The Cyprus International Trusts Law remained unaltered since its enforcement back in 1992.  Realising that Trusts have the potential of being used as the channel for foreign investments in or through Cyprus, legislature examined the concerns and attempted to improve the already existing legal framework in such a way so that to achieve the boosting of such investments.

The amended new Law indeed modernises the legal framework for international trusts and is expected to boost investments in Cyprus.  The new Law has been welcomed by the Cyprus legal and business sector since it is a step forward in rendering Cyprus a more competitive trust jurisdiction and it further upgrades Cyprus as an International Economic Centre.

Major changes to the law

Residency Status of Settlors, Beneficiaries and Trustees

Section 2 of the 1992 Law was amended. The new Law provides that the settlor should not be a Cyprus resident in the year, preceding the year of the establishment of the trust.

Under the old law, it was not clear whether a settlor could reside in Cyprus after forming an International Trust and this uncertainty discouraged the settlors from relocating.  The amendments to Section 2 clarify when a person/s can reside in Cyprus and still be eligible as a settlor under an International Trust. The same applies to beneficiaries; namely the beneficiary should not be a Cyprus resident in the year preceding the year of establishment of the trust. The only exception is that of a charitable trust where the beneficiaries could be Cyprus residents at any given time.

Regarding the trustees, it should be noted that at least one of the trustees should be resident of Cyprus during the whole duration of the Trust.

Validity of International Trust

All matters relating to a Cyprus International Trust shall be determined in accordance with the applicable laws of the Republic of Cyprus.  Anything relating to the validity, interpretation or effect of any trust or transfer shall be governed by the Laws of Cyprus. The same will apply to the fiduciary powers and duties of trustees.

The new Law (Section 3) provides that no International Trust would be considered void or voidable due to the fact that the legal provisions that are in force in any jurisdiction prohibit or do not recognize the substance of the Trust.

The Law clearly states that the inheritance laws of any other country will not be enforced in Cyprus by the Cyprus courts and this provision confirms that the heir-ship provisions in succession laws of foreign countries will not apply to a Cyprus International Trust.

Powers of the Settlor

Section 4A was added to the new Law, extending the powers of the settlor.  Revocation and modification of the terms of the trust by the settlor is now allowed.  Additionally, a settlor may instruct the transfer, distribution, payment or transfer of income or capital from the trust property or the issue of binding instructions and/or directions with regards to the above.  The settlor may also appoint or remove a Trustee, a Beneficiary or a Director of any of the companies that belong to the trust or the settlor can act as a director himself and a settlor may also issue binding instructions to Trustees in relation to the exercise of any power. The most important change however is the fact that the settlor can now choose the applicable law that will govern the Trust and change the governing law or the forum of administration of the Trust.

Duration of Trust

Under the 1992 law, an International Trust could be valid for up to 100 years from the date of its establishment, with the exception of charitable and purpose trusts which were permitted to exist in perpetuity.  The new law abolishes all restrictions on the duration of trusts.

With regards to an International Trust which was established during or after the entry into force of this new Law, it is provided that there is no limit in the period over which a trust may continue to be valid and enforceable.

Notwithstanding anything to the contrary contained in the terms and conditions of the trust, no concession, distribution, payment, holding or disposal of the income or capital of the trust to another trust is invalidated solely on the ground that the other trust continues to be valid and enforceable after the date on which the former trust must come to an end.

Definition of Charitable Institutions

The new Law redefines charitable institutions. According to Section 7, International Trusts are considered as charitable institutions where the trust has as a main objective to achieve one or more of the following purposes:

1. Prevention or alleviation of poverty;
2. Promotion of education;
3. Promotion of religion;
4. Promotion of health or salvation of life;
5. Promotion for the development of citizens and of the community;
6. Promotion of art, culture, heritage or science;
7. Promotion of amateur sports;
8. Promotion of human rights, dispute settlement or reconciliation or the promotion of religious or national harmony or equality and individuality;
9. Promotion of the protection or development of the environment;
10. Relief needs arising from young or advanced age, ill health, disability, economic hardship or other disadvantage;
11. Promotion of the welfare and protection of animals; and
12. For any other reason for the benefit of the general public or which is consistent with paragraphs (a) – (k) above.

Power of Trustee to invest in movable & immovable property

Section 8 of the 1992 Law has been amended.  The Trustee may now hold, maintain or invest in movable property in Cyprus and abroad, including investments in shares in companies registered in Cyprus and in immovable property located in Cyprus or abroad.

The new Law recognises the already existing powers of Trustees; some of the most important powers are:

1. To make capital distribution;
2. To employ;
3. To borrow;
4. To mortgage;
5. To guarantee;
6. To invest/lend money;
7. To make payments for/on behalf of beneficiaries; and
8. To advance money to another trust

Tax Advantages of International Trusts

International Trusts are ideal for asset protection, inheritance and tax planning.  The benefits arising from the use of such trusts distinguish Cyprus as one of the most advantageous trust jurisdictions.

According to Section 12 of the Law, if the beneficiary of such Trust is a resident of Cyprus then the income or profits of such trust which arise in and out of Cyprus will be taxed in Cyprus.

Additionally, in case the beneficiary is not a resident of Cyprus, then the income or profits of such trust that arise within Cyprus are taxed according to the tax laws of Cyprus. In effect any income or profits of such trust that arise outside Cyprus are not taxed in Cyprus.

It should further be noted that the definition of a ‘resident of Cyprus’ has the meaning attributed to the term under the Income Tax Laws.

Confidentiality

Confidentiality and secrecy are still preserved under the new Law and the Trustee, the Protector or any Governmental body is not entitled to disclose information or documents relating to:

a)      The settlor,

b)      The beneficiaries,

c)       The trustees, and

d)      The property of the Trust,

unless the above are ordered by the Courts of Cyprus.

Conclusion

All the above amendments to the International Trust Law of Cyprus will certainly promote Cyprus as one of the most favourable trust jurisdictions and given the island’s beneficial tax regime, the new legislation is expected to be one of the most useful tools in tax planning for foreign investors.

Cyprus Company Formation Multilysis Services Limited

Cyprus Lawyers N. Pirilides & Associates LLC

Cyprus is a reliable European Union and Euro-zone jurisdiction for conducting professional services and offshore activities.

The country maintains an excellent international reputation for conducting business.  With 10% corporate tax, Cyprus is the lowest tax jurisdiction in the European Union that is not offshore and has the lowest non-offshore jurisdiction corporate tax rate in the world.

Cyprus simply offers a host of financial advantages and benefits to companies and individuals. It can do so due to the sustaining a strong and stable economy (in relation to the country’s size) that almost completely focuses on professional services and the financial sector.

Cyprus offers an excellent infrastructure for such activities, such as legal and accounting firms and banking, highly educated, qualified and multilingual workforce, proper government regulations and a general policy of non-intervention in business operations.

Cyprus has excellent geopolitical and trading relationships with key source markets, which together with the ideal geographical location, is a principal choice for investments into many neighbouring markets, including the EU, Russia, CIS, as well as the Middle East and North Africa.

Reforms that positioned Cyprus as the ideal offshore jurisdiction

The offshore regime in Cyprus has changed drastically due to its EU accession, and as a result of agreements with the Organisation for Economic Cooperation and Development (OECD); certainly for the better.

Cyprus has transformed itself from being considered an offshore tax haven with a 4.25% corporate tax rate for grey-area businesses to a unique EU jurisdiction with a standardised tax rate of 10% – still the lowest tax rate in the EU.

Cyprus has successfully reformed all its financial sector legislation in line with international practice and has implemented a simplified, effective and transparent tax system which is fully compliant with the European Union, OECD, Financial Action Task Force (FATF), and Financial Stability Forum (FSF).

Since EU accession, Cyprus has harmonised local regulations to the Acquis Communautaire, allowing the country to further develop as a financial centre. Following these measures, Cyprus was placed on the OECD white list of territories which have substantially implemented the internationally agreed standard in tax transparency.

Other actions taken by Cyprus to boost its global recognition as a credible offshore jurisdiction includes:

• It has made various tax reforms in order to bring its legislation in full conformity both with EU Laws and Directives and with the Organisation for Economic Cooperation and Development’s guidelines.
• Instantly implemented the EU Tax Directive, which includes a Code of Conduct on harmful tax practices and rules to avoid the double taxation of royalty and interest payments.
• Adopted International Financial Reporting Standards.
• Passed Anti Money Laundering legislation (Law 188(I)/2007), Markets in Financial Instruments Directive (MiFiD), and Transparency Law and Anti Money Laundering Law.
• Cyprus has made huge steps in structural reform, modernization, and liberalization of its market-oriented economy, with a view to enhancing international competitiveness.

Cyprus Company Formation Multilysis Services Limited

Cyprus Lawyers N. Pirilides & Associates LLC

15 февраля 2012 Российская Дума ратифицировала протокол поправок к договору

1998 года об избежании двойного налогообложения между Россией и Кипром, подписанного 7 октября 2010 года. Кипр также ратифицировал этот протокол в начале августа 2011 года. В соответствии с условиями соглашения, которые вступят в силу с 1 января 2013 года Кипр будет выведен из, так называемого, “черного списка”, в который был включен с 1 января 2008 года.

CIPA (Кипрское Агентство инвестиционного развития) приветствовало эту позитивную ратификацию Протокола поправок, что подтверждает отличные и прочные политические и экономические отношения между Кипром и Россией, которые продолжают развиваться. Представитель CIPA прокомментировал, что это соглашение пойдет на пользу Кипрской экономике по двум основным причинам: “во-первых в силу новых русских инвестиций, а во-вторых, в силу дальнейшего укрепления безопасности, предоставляемого русским инвесторам”.

Кроме того, он отметил, что в связи с тем, что Россия является ведущей страной инвестирования на Кипре, “данное соглашение будет способствовать модернизации Кипра, как страны с очень хорошей инфраструктурой для установления сотрудничества с международными компаниями”.

http://www.multilysis.com/ru/

http://www.pirilides.com/ru

Сотрудники «Multilysis» имели возможность принять участие в Форуме, который состоялся 10Февраля 2012 в Four Seasons Hotel в Лимассоле.

Организаторами конференции успешно выступили Торгово-промышленная палата Кипра, Торгово-промышленная палата России, Деловой совет по сотрудничеству с Кипром и Кипрско-Российская бизнес-ассоциация.

Обращаясь к Российско-Кипрскому деловому и инвестиционному форуму,  в Лимассоле, вчера, посол России заявил, что в последние 20 лет “, общий объем инвестиций между нашими странами достиг ста миллиардов долларов, и это очень внушительная цифра”, добавив, что ” объем торгово-экономического сотрудничества за прошлый год составил около 1,3 миллиарда долларов.

Г-н Шумский сказал, что “в торгово-экономических отношениях, мы достигли докризисного уровня, нам удалось в течение короткого периода времени преодолеть экономические и финансовые трудности, и у нас есть хороший потенциал.

Также выступая на форуме, президент Димитрис Христофиас заявил, что Кипр является «безопасным и надежным партнером» для русских компаний, стремящихся к реализации своих международных стратегических планов “в период политической нестабильности и неопределенности” в регионе.

Он отметил, что прямые иностранные инвестиции на Кипр из России экспоненциально увеличились в последние годы, показывая тем самым, что Кипр является международным деловым центром для русских бизнесменов. Г-н Христофиас подчеркнул, что экономика России традиционно играет значительную роль на острове “, выступая в качестве катализатора роста для экономики Кипра.

Он поблагодарил российского президента Дмитрия Медведева за его личный вклад в создании и поддержании прочных исторических связей, взаимовыгодных политических, экономических и бизнес -отношений между двумя странами.

Г-н Христофиас отметил, что форум дал “прекрасную возможность” укрепить отношения с Россией, конкретно сославшись на потенциальные инвестиции в энергетическом секторе, вытекающие из последнего обнаружения месторождения газа, который находится в исключительно экономической зоне Кипра (ИЭЗ).

“Естественно, мы ожидаем, что русские компании, специализирующиеся в области энергетики, сегодня, будут проявлять интерес к изучению инвестиционных возможностей в этом секторе на Кипре”, сказал г-н Христофиас.

Вице-президент Торгово-промышленной палаты России г-н Георгий Петров сказал, что 2011 год был годом экономического возрождения России, с ростом ВВП на 4,5%, добавив, что 2012 год будет “еще более успешным. Г- н Петров призвал Думу к ратификации протокола, об избежании двойного налогообложения, подписанного между Христофиасом и Дмитрием Медведевым во время визита последнего на Кипр в 2011 году.

На конференции было подчеркнуто, разными выступающими, что одна из главных задач правительства Кипра является сохранение преимуществ и дальнейшего повышения конкурентоспособности экономики. В этой связи предпринимаемые меры включают, среди прочего:

• упрощение нормативно-правовой базы и снижение административного

бремени для бизнеса;

• непрерывной модернизации инфраструктуры в области транспорта,

энергетики и связи;

• содействие научным исследованиям и инновациям, а также

• дальнейшее развитие человеческого капитала.

Кроме того, все выступавшие подчеркнули тот факт, что экономика Кипра доказала свою способность успешно преодолевать трудности и, что Кипр предлагает значительные преимущества для иностранных инвесторов, которые ищут место для ведения бизнеса и, что Кипрско-Российская бизнес-ассоциация может и будет играют жизненно важную роль.

http://www.multilysis.com/ru/

http://www.pirilides.com/ru

The following information and/or documents will be required in order for the permit to be issued by the Council of Ministers for the acquisition of immovable property by foreigners:

1. Side Plan
2. Copy of the Title deed and Land Registry Plans accompanying the Title Deed of the property to be acquired.
3. Copy of the building permit for the erection of a house or any other kind of building, or for the permit residential development of the land.  For land that is under division, then such permit should be also filed.
4. A duly stamped copy of the purchase agreement
5. Plan of the house/apartment. In case of a land’s division, a division plan will be required. In case of residential development, a plan will be required, where the exact location of the residence is shown within the whole estate.
6. The total area in sq.m. of the property to be acquired.
7. Evidence of the applicant’s financial status.
8. Copy of the applicant’s passport and the passport of the husband/wife.  All pages showing/verifying stamps of their arrival in Cyprus and departure from Cyprus should be filed.
9. Copy of the certificate of marriage of the applicant or a related certificate by the Embassy of their country of origin (this applies where the surname of the wife is not the same as the husband and/or if the wife has not changed her family’s surname). The marriage certificate must be officially translated into Greek or English.
10.  The applicant must provide copy of the residence or work permit in Cyprus.
11. A duly completed Application Comm 145.
12.  In case the applicant is a company or the applicant is a shareholder of an offshore company, all relevant certificates of the company (shareholders, directors and the registered office of the company) are required to be filed.  Furthermore, copy of the memorandum & articles of association of the company should be filed.

In addition, the shareholders of the applicant company and their husbands/wives must provide their passport copies and they should verify whether they acquire any further immovable property in Cyprus.

• Cypriot Lawyers N. Pirilides & Associates LLC
• Cyprus Company Formation Multilysis Services Limited

On the 15^th of February 2012, the Russian Duma has ratified the amending Protocol to the Cyprus-Russia Double Tax Treaty of 1998, signed on the 7^th of October 2010. Cyprus has also ratified this Protocol earlier in August 2011. The application of this ratifying Protocol on 1^st of January 2013 will finally remove Cyprus from the so called Russian “black list”, in which Cyprus was included since the 1^st of January 2008.

CIPA (Cyprus Investment Promotion Agency) has welcomed this positive ratification of the amending Protocol which confirms the excellent and strong political and economic relationship between Cyprus and Russia which keeps developing. As CIPA’s representative commented, the Cypriot economy will benefit for two main reasons; “firstly from the new Russian investments and secondly by the further strengthening of the security provided to the Russian investors.”

In addition, he noted that due to the fact that Russia is the leading investing country in Cyprus, “this agreement will also contribute to the upgrading of Cyprus as a country with a very good infrastructure for establishing cooperations with international companies.”

Cypriot Lawyers N. Pirilides & Associates LLC

Cyprus Company Formation Multilysis Services Limited

Israeli Prime Minister Benjamin Netanyahu said that important perspectives will occur through the cooperation between Cyprus and Israel in the hydrocarbon sector, during the joint press conference with President of Cyprus, Mr Demetris Christofias.

Mr. Netanyahu emphasized the need of cooperation, stating that this can be very helpful in the future because, as he pointed out, the research and the cooperation on multiple sectors at once is much more useful and efficient than working and investigating one sector at a time. He also pointed out that the outlook of this cooperation can positively affect the welfare of Cyprus and of the wider region as well.

In addition, Mr. Netanyahu noted that despite the fact that the flight from Israel to Cyprus takes only 45 minutes, “it took 63 years for an Israeli Prime talked about the strong bonds and Minister to visit the island.” He also talked about the strong bonds and relationship between the people of the two countries and how this relationship has developed during the last few years. He emphasized the need and importance of continuing and extending this cooperation in other areas as well as the energy sector.

Mr. Netanyahu thanked President Demetris Christofias for the hospitality and he expressed the hope that he will be able to fill in, in the future the gap of the 63 years which took for an Israeli Prime Minister to visit Cyprus.

On the other hand, President Demetris Christofias said that both Cyprus and Israel will work effectively aiming to use the hydrocarbon reserves which have been officially confirmed within the Exclusive Economic Zones of the two countries, aiming at the welfare of both the people of Cyprus and Israel.

The President of Cyprus noted that “contacts are already in progress in order to discuss the perspective plans” which he wished to “lead in the near future to concrete suggestions for promoting the bilateral agreements between the two countries.”

Referring to the first visit of an Israeli Prime Minister in Cyprus, President Christofias said that such a visit confirms the strong and high-level relationship between the two countries.

In relation to the signing of a bilateral agreement regarding the sectors of research and rescue services, President Christofias said that it is a tangible confirmation of the increased level of cooperation and development of this cooperation level with Israel.

Cyprus Company Formation Multilysis Services Limited

Cyprus Lawyers N. Pirilides & Associates LLC