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Cyprus Desk

Healys Cyprus desk is ideally placed to help with any UK/Cyprus related legal issue, and is probably the largest city practice offering expertise of the Cypriot market.

With two of its partners of Cypriot origin, the desk has specialised knowledge and strong connections, together with an expansive network of contacts, which could benefit you.

Our team comprises:

Marios Pattihis is the senior partner and he has spearheaded the firm’s International Team.  Specialising in inward and outward investments in Cyprus, he has a comprehensive understanding of offshore jurisdictions and particular expertise in energy projects and commercial law.

Kiri Kkoshi, a partner and Head of Real Estate specialises in Commercial and Residential property investment and development.

Operating though a company registered in Cyprus can significantly reduce the tax liability of a business and its shareholders.

As an established reputable business and financial centre, Cyprus is supported by an advanced legal accounting and banking system, a highly skilled and multi lingual workforce and excellent telecommunication systems.

With its strategic position and time zone, enabling comfortable connections between Europe, the Middle East, Africa and Asia, Cyprus is a natural global hub for business and trade.

Benefits of operating a company registered in Cyprus include:

  • Members of the EU
  • Ideal for Middle East, Central and Eastern European investors
  • Extensive double tax treaties
  • Common law system
  • Low tax rate fixed
  • Choice of corporate vehicle
  • Dividend income and profits from sales of shares are exempt
  • No time restrictions on carrying forward tax losses
  • No stamp duties on normal trading activities
  • Group relief for utilisation of tax losses
  • Exemption from estate duty on shares in offshore companies if inherited in Cyprus

Since 1974 and the unofficial partition of Cyprus between Greek and Turkish interests, Cyprus property law has been subject to dispute by politicians, landowners and residents. Issues of legal ownership and human rights remain unresolved, and many cases have been brought before both UK and Cypriot courts, as well as the European Courts of Justice and Human Rights.

Healys Cyprus desk is an established team with particular expertise in this complex field. With bilingual specialists and two partners of Cypriot origin, we can help you protect your interest and human rights in Cyprus. We offer a comprehensive personal service and can provide advice and representation through affiliated lawyers, estate agents and advisers in Cyprus.

In its continued attempted to attract foreign investors the Government of Cyprus has created a number of incentives.  One of these is the citizenship-by-investment program which not only grants Cypriot citizenship but will give successful applicants the right to work, live and study in all 28 EU member countries.

The main requirement of this is to invest 2 million Euros in real estate (which was recently reduced from 2.5 million euro).  A further change made in September 2016 was the possibility to include parents of the main applicant.  This is done by further investing 500,000 Euros in real estate.

Key requirements for investment:

  1. Investment in real estate, developments and infrastructure projects – applicants are required to invest at least 2 million euro in these projects
  2. Acquisition, creation, or investing in Cypriot companies – applicants must purchase, invest or created a business that operates in the republic at a value of 2 million euro
  3. Investment in funds, financial assets of Cypriot enterprise – applicants must invest 2 million euro in financial assets of a Cypriot company in the form of bonds, securities or debt securities.
  4. Investment in Government Bonds – in combination with above the applicant can invest in a special government bond of a value of 500,000 euro
  5. Another important requirement that applies is the purchase and life-time possession of a property in Cyprus that will be declared as the applicant’s residence in Cyprus. The purchase price of the particular property should be at least EUR 500,000 plus VAT. If the above investment includes the real estate option, this property can be included in the EUR 2 million investment.

Healys Immigration team will be on hand to manage the application process.  The team will be able to find suitable investment opportunities, evaluate those investments and deal with all the transactions needed to get you through the application process.

We have strategic relationships with Lawyers, accountants, tax advisers, fiduciaries, commercial and residential real estate agents, relocation agents and recruitment specialists in the Cyprus, Europe and around the world.  This unique position puts a team of experts at the disposal of our clients offering a ‘one stop shop’ service to solve any issues they may have.

Call Us Today
Call our London office on 020 7822 4000 or our Brighton office on 01273 838734. You can also contact us online.
Call Us Today
London: 020 7822 4000 Brighton: 01273 838734 Or you can contact us online: Contact Us