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Efstathios K. Efstathiou > Articles posted by admin

Unlocking Immigration Benefits through Cyprus International Business Company (IBC)

Cyprus, a captivating island in the Eastern Mediterranean, offers not only a favorable business environment but also a pathway to residency and potential citizenship through strategic corporate structuring. The Cyprus International Business Company (IBC) serves as a gateway for entrepreneurs and investors to access immigration benefits, including residency permits and, in some cases, citizenship. In this article, we will explore how establishing a Cyprus IBC can provide opportunities for eligible individuals to pursue residency and citizenship in Cyprus. Cyprus IBC: A Business Platform with Immigration Incentives A Cyprus IBC is a preferred vehicle for international business activities due to its attractive tax...

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The Removal of Data in the Schengen Information System (SIS)

The Schengen Information System (SIS) is a vital tool used by countries within the Schengen Area to enhance cooperation and facilitate border management. It serves as a shared database for information exchange, including alerts for wanted persons, missing individuals, stolen objects, and more. However, the removal of data from the SIS is equally important to ensure the accuracy and fairness of its functioning. When it comes to the removal of data in the SIS, there are specific procedures and criteria in place that aim to strike a balance between the legitimate interests of individuals and the efficient functioning of the system....

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How to Remove your Data in the Schengen Information System (SIS)

To remove your data from the Schengen Information System (SIS), you must follow specific procedures and comply with the regulations set by the European Union (EU). The SIS is a database that contains information about individuals and objects wanted by authorities in the EU and Schengen associated countries for various purposes, such as law enforcement and border control. If you wish to have your data removed from the SIS, here are the steps to follow: Understand your rights: Familiarize yourself with the data protection laws and regulations governing the SIS. It is important to know your rights and the procedures for...

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Work Permit Applications in Cyprus – What You Need to Know

Introduction Cyprus, known for its vibrant economy and favorable business environment, attracts individuals from across the globe, seeking employment opportunities and career growth. However, before embarking on your professional journey in Cyprus, it is essential to navigate the work permit application process. In this article, we'll provide an overview of the key information you need to know about work permit applications in Cyprus. Understanding the Work Permit System in Cyprus: To legally work in Cyprus as a foreign national, you must obtain a work permit or a temporary residence permit with work authorization. The permit system is designed to regulate the employment...

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What You Should Know About Investment-Based Permanent Residency Permit in Cyprus

Introduction Cyprus, with its thriving economy and favorable business climate, offers a range of investment opportunities for individuals looking to establish long-term residence in the country. One such option is the investment-based permanent residency permit, which grants the holder an indefinite stay in Cyprus. In this article, we explore the key things you should know about obtaining an investment-based permanent residency permit in Cyprus. Investment Categories: There are several investment categories available for obtaining a permanent residency permit in Cyprus: a) Real Estate: One of the most popular options, this category requires a minimum real estate investment of €300,000, which must be maintained...

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Stay Ahead of the Curve: Incorporation of a Cyprus Company in 2024

Introduction The incorporation of a company in Cyprus has become increasingly popular among entrepreneurs, investors, and multinational corporations. In 2024, changes in legislation will further enhance the country's corporate governance and compliance regulations, making it an even more attractive jurisdiction for business incorporation. This article explores the benefits of incorporating a Cyprus company in 2024 and the upcoming changes to the country's legal framework. Why Incorporate a Company in Cyprus? Cyprus is a well-established jurisdiction that offers various advantages for businesses, such as: a) Favorable tax regime: Cyprus has one of the lowest corporate tax rates in Europe at 12.5%, making it an...

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Sale and Purchase Agreement in Cyprus: What You Need to Know

Introduction When engaging in a property transaction in Cyprus, it is crucial to have a comprehensive understanding of the sale and purchase agreement. This legally binding contract outlines the terms and conditions of the property sale and ensures the protection of both the buyer and the seller. In this article, we will discuss the key elements of a sale and purchase agreement in Cyprus, providing you with the information you need to navigate the process effectively. Understanding the Sale and Purchase Agreement: The sale and purchase agreement is a legally binding document that sets out the terms and conditions of the property...

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Demystifying Tax Residency in Cyprus: A Comprehensive Guide

Introduction Cyprus, with its favorable tax regime and strategic location, has become an attractive destination for individuals seeking tax residency. Understanding the concept of tax residency is crucial for those considering establishing themselves in Cyprus. In this comprehensive guide, we aim to demystify tax residency in Cyprus and provide essential information for individuals interested in this aspect. Definition of Tax Residency: Tax residency refers to the determination of an individual's tax obligations based on their residence status in a particular jurisdiction. In Cyprus, tax residency is determined by the number of days an individual spends in the country during a tax year. ...

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Complete Guide to Permanent Residence Applications in Cyprus

Introduction Cyprus, known for its desirable lifestyle, Mediterranean climate, and thriving business environment, attracts individuals seeking permanent residency in a welcoming and prosperous country. This article serves as a comprehensive guide to help you navigate the process of Permanent Residence Applications in Cyprus. Permanent Residence Permit Categories: Cyprus offers several pathways to obtain permanent residency. Understanding the available categories can help determine the most suitable option for your circumstances: a) Category F: This category is designed for individuals who wish to retire in Cyprus. Applicants must meet specific financial criteria and demonstrate a stable annual income from sources outside Cyprus. b) Category 6(2): Individuals...

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Company Due Diligence in Cyprus: 5 FAQs

Introduction Due diligence is a process that helps businesses minimize risks and make informed decisions when entering into partnerships or business transactions. Conducting due diligence in Cyprus is crucial for businesses to ensure regulatory compliance, verify financial information, and identify potential legal or reputational risks. In this article, we answer five frequently asked questions about company due diligence in Cyprus. What is company due diligence? Company due diligence is the process of assessing a company's financial, legal, and operational aspects to evaluate its stability, reputation, and compliance with regulatory requirements. Due diligence involves gathering and analyzing information to mitigate risks and make...

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