Desenvolvedores Chipre Chipre propiedade creadores de Casas en inmobles Chipre inmobles á venda

Arquivo para a 'Chipre' Categoría

Agios é agora oficialmente á caza de unha nova gama de luxo vivendas para alugar en Chipre .

Alcanzando as etapas finais de unha disposición nova páxina de inicio, estamos ampliando unha serie de nosos servizos de aluguer para axudar a facer a experiencia da reserva e gozar dunha casa de vacacións en Chipre , que moito mellor. Vilas será, por suposto, suxeita a un control rigoroso para garantir que permanezan parte superior do conxunto en termos de presentación, calidade de produto e servizo.

Vilas que, obviamente, estar no máis alto da lista de buscados, son vivendas preto das praias ou polo menos o litoral. Vilas preto de diversións e unha curta distancia de restaurantes con boa comida tamén son excelentes opcións.

O tema do Chipre Apartments sempre vén á tona e nós imos estar cambiando o xeito no que traballamos para iso. Unha festa piso en Chipre é para persoas que non poden querer algo moi grande ou moi caro. É debido aos custos que son incapaces de encargado de boa fe o propietario dunha comisión porque acaba empuxando os tipos de mercado de vivendas pasadas. Polo tanto, se ten un piso en Chipre, para 100Euro por ano pode anunciar o seu inmoble na nosa web e recibir información directamente dela.

Entón, se vostede ou alguén que coñece ten unha casa ou apartamento que precisan para alugar, por favor, adiante-los para o noso aluguer vila web. Faremos todos os esforzos para axudar e aconsellamos-lo sobre como BES para dar o seu retorno sobre a súa propiedade.

Para obter máis información turismo aidditional visita a Chipre Organización de turismo

Chipre é unha Unión de confianza europea e euro-zona xurisdición para a realización de servizos profesionais e actividades offshore.

O país mantén unha excelente reputación internacional para a realización de negocios. Cun 10% impostos sobre as sociedades, Chipre é a xurisdición do imposto máis baixa da Unión Europea que non é offshore e ten o menor non offshore xurisdición taxa de impostos sobre as sociedades no mundo.

Chipre é simple e ofrece unha serie de vantaxes financeiras e beneficios para empresas e particulares. Podes facelo debido ao soster unha economía forte e estable (en relación ao tamaño do país) que case completamente concéntrase en servizos profesionais e do sector financeiro.

Chipre ofrece unha excelente infraestrutura para tales actividades, como despachos de avogados e Contabilidade e bancarios, forza de traballo altamente instruída, cualificado e multilingüe, regras gobernamentais adecuadas e dunha política xeral de non-intervención en tarefas de negocios.

Chipre ten excelentes relacións xeopolíticas e comerciais con mercados emisores principais, que xunto coa localización xeográfica ideal, é unha opción principal para investimentos en moitos mercados veciños, incluíndo a UE, Rusia, CIS, así como o Oriente Medio e Norte de África.

Reformas que posicionados Chipre como a xurisdición ideal mar

O réxime offshore en Chipre cambiou drasticamente debido á súa adhesión á UE, e, como resultado de acordos coa Organización para a Cooperación e Desenvolvemento Económico (OCDE), seguramente a mellor.

Chipre converteuse de ser considerado un paraíso fiscal offshore cunha taxa do imposto corporativo para 4,25% da área gris-negocio a un país da UE cunha taxa do imposto estándar do 10% - aínda a menor taxa de impostos na UE.

Chipre conseguiu reformar a lexislación do sector financeiro de conformidade coa práctica internacional e aplicou un sistema fiscal simplificado, eficaz e transparente, que é totalmente compatible coa Unión Europea, OCDE, Forza Tarefa de Acción Financeira (GAFI), eo Foro de Estabilidade Financeira (FSF ).

Desde a adhesión á UE, Chipre harmonizou a lexislación local ao acervo comunitario, permitindo ao país desenvolver como centro financeiro. Tras estas medidas, Chipre foi posto na lista branca da OCDE de territorios que se aplicado substancialmente o estándar internacional acordado en transparencia fiscal.

Outras accións tomadas por Chipre para incrementar o seu recoñecemento mundial como unha xurisdición credível no mar inclúe:

• El fixo varias reformas fiscais, a fin de adaptar a súa lexislación en plena conformidade tanto coa lexislación da UE e das directivas e coa Organización para a Cooperación Económica e Desenvolvemento de directrices.
• Instantaneamente aplicou a directiva relativa á tributación da UE, que inclúe un Código de Conduta sobre as prácticas fiscais nocivos e regras para evitar a dobre imposición de dereitos e pagamentos de xuros.
• Aprobado International Financial Reporting Standards.
• Aprobou unha lei de loita contra a lavado de diñeiro (Lei 188 (I) / 2007), Mercados de Instrumentos Financeiros Directiva (DMIF), e Lei de Transparencia e Lei de lavado de diñeiro.
• Chipre deu pasos enormes en reforma estrutural, de liberalización, modernización e da súa economía orientada ao mercado, co fin de reforzar a competitividade internacional.

Empresa Chipre Formación Servizos Multilysis Limitado

Chipre Avogados N. Pirilides & Associates LLC

Agios está constantemente a engadir novas e exclusivas Vilas en Chipre no seu Cartafol. Polo tanto, imos engadir dúas moi fermosas 3 vivendas en Latchi todos con vistas ao mar.

Estas vivendas non están situados a pouca distancia das tendas e diversións, son illados e privados, e que é máis eles están nunha granxa de saúde exclusiva completa con spa e restaurantes Chipre .

Queremos invite, así como todos os nosos clientes regulares para comprobar coa xente nos próximos 10 días para acceder a estas vivendas que virán con unha propagación de dispoñibilidade. En canto vacacións privadas Chipre ir, estas vivendas en Chipre son o camiño a seguir e son unha boa forma de gozar de algún tempo no Med

Chipre no seu mellor

Nunha nota lateral, como as vivendas son remotas, ofrecemos un servizo de transfer do aeroporto de Paphos, quere ou Larnaca.

Primeiro ministro israelí Benjamin Netanyahu dixo que as perspectivas importantes terá lugar a través da cooperación entre Chipre e Israel no sector de hidrocarburos, durante a conferencia de prensa conxunta co presidente de Chipre, Demetris Christofias.

Netanyahu enfatizou a necesidade de cooperación, afirmando que iso pode ser moi útil no futuro, porque, como salientou, a investigación ea cooperación en varios sectores ao mesmo tempo é moito máis útil e eficiente que traballar e investigar un sector de cada tempo. Tamén apuntou que as perspectivas desta cooperación pode afectar positivamente o benestar de Chipre e de toda a rexión tamén.

Ademais, Netanyahu dixo que, a pesar do feito de que o voo de Israel para Chipre leva uns 45 minutos ", que levou 63 anos para un primeiro ministro israelí falou sobre os lazos fortes e ministro a visitar a illa." Tamén falou sobre a lazos fortes e de relación entre os pobos dos dous países e como esa relación se desenvolveu durante os últimos anos. El enfatizou a necesidade e importancia de continuar e ampliar esa cooperación a outras áreas, así como o sector da enerxía.

Netanyahu agradeceu ao Presidente Demetris Christofias á hospitalidade e el expresou a esperanza de que será capaz de cubrir, no futuro, a apertura dos 63 anos que levou a un primeiro ministro israelí para visitar Chipre.

Por outra banda, o presidente Demetris Christofias asegurou que Chipre e Israel ha traballar efectivamente co obxectivo de utilizar as reservas de hidrocarburos que foron oficialmente confirmados nas zonas económicas exclusivas dos dous países, de cara o benestar de ambos os pobos de Chipre e Israel .

O Presidente de Chipre referiu que "os contactos que xa están en marcha, a fin de discutir os plans de perspectiva" que pretendía "levar no futuro próximo para suxestións concretas para a promoción dos acordos bilaterais entre os dous países."

Referíndose á primeira visita dun primeiro ministro israelí en Chipre, o presidente Christofias dixo que tal visita confirma a relación forte e de alto nivel entre os dous países.

En relación á sinatura dun acordo bilateral sobre os sectores de servizos de investigación e salvamento, Christofias presidente dixo que é unha confirmación concreta do aumento do nivel de cooperación e desenvolvemento dese nivel de cooperación con Israel.

Empresa Chipre Formación Servizos Multilysis Limitado

Chipre Avogados N. Pirilides & Associates LLC

Chegando ao Chipre e pregunta o que esperar. Ademais dunha gama de miles de luxo Vilas Chipre , hoteis e apartamentos, o que máis a illa ten para ofrecer?

Ok, entón imos facer os movementos normais e din que o tempo de Chipre é grande, algo así como 360 días de sol. Non tan rápido.

En primeiro lugar, chove no inverno, e moi moito. Pero iso é bo dereita, como o lugar quedaría moi abatida se non o fixo. Algúns din que estatística é inferindo 360 días en que o sol brilla para, polo menos, unha durante o día. Así, os tempos cambiaron, entón esqueza. Pero o que pasou no verán?

Chipre - Latchi estaleiro

De preto de abril a outubro e, ás veces, en novembro, o clima é moi favorable. Se reservar unha festa para Chipre, abril a xuño e clima ameno, de xullo a finais de setembro é moi quente e outubro-novembro suave.

Alimentos? Restaurantes en Chipre moito en calidade e prezo. Asegúrese de chegar nas súas mans unha guía de comida decente. Agios estará lanzando pronto eyeris que ten unha voz activa, guía de restaurantes interactivo que fará o traballo de atopar comida de calidade en Chipre moito máis fácil e divertido.

Praias? A maioría das praias están situadas na parte leste da illa, con Paphos e Latchi gozar dalgunhas praias de xisto e grava. Depende do que quere realmente.

Vilas Chipre e vacacións.

8 anos Agios naceu e con el unha serie de novos conceptos que se fixeron características esteos en moitas vilas Chipre sitios.

De paseos virtuais, mapas interactivos de Google para obter as mellores fotos, os usuarios online tivo unha experiencia mellor.

O que estamos agora no proceso de cocción no laboratorio non será tan facilmente replicada polos sitios de competencia, o obxectivo desta ferramenta é facer que as nosas vivendas en Chipre web ao usuario unha experiencia totalmente diferente.

Estamos a piques de lanzar o noso primeiro programa móbil que dará aos seus clientes unha das máis poderosas ferramentas para fora alí para atopar lugares de interese, restaurantes e comentarios, punto a punto as instrucións de dirección, distancia, a función de reserva de golf e unha infinidade de outros recursos que cantidade para clientes que teñen un panel de expertos en Chipre, a dereita nos seus dispositivos móbiles.

Benvido a outro futuro.

É moi fácil pasar polos lugares culturais para visitar inCyprusdue para as fermosas praias, clima quente e de moitos restaurantes e locais de boates e tamén moitas instalacións de lecer. Chipre está chea de historia marabillosa e interesante e para os que poden tomar un pouco de tempo para visitar eses lugares que vai ser moi sorprendido só en canto a cultura, artefactos e monumentos van aproveitar o alento.

Nicosia (Lefkosia) a capital de Chipre

• CyprusMuseum
• Catedral de St Johns
• Paredes de Venecia
• Laiki Geitonia
• Centro de Artesanía
• LeventisMuseum
• O Arcebispado

Limassol (Lemesos)

• Limassol Castelo
• Kolossi Castelo
• Xardíns e Museo Municipal
• Templo de Apolo
• Amathus antigos
• Phassouri viñedos
• Chipre Museo do Viño

Larnaca (Larnaka)

• Igrexa de San Lázaro
• O Salt Lake
• LefkaraVillage
• Pierides Museo
• Igrexa de Panagia Angeloktisti
• KornosVillage
• Mosteiro Stavrovouni
• Choirokoitia Liquidación Neolítico
• Ala Sultan Tekke

Paphos (Pafos)

• O Harbour
• O Castelo
• Tumba dos Reis
• TempleofAphrodite
• Bosques Paphos
• St Pauls Pilar
• O baldosas - Petra tou Romiou

Famagusta

• Mosteiro AgiaNapaVenitian
• SeaCaves-CapeGreko
• AgiaNapaHarbour
• Paralimni centro comercial de idade
• Thalassa Museum

E, por suposto, sen esquecer as Montañas Troodos verdadeiramente sorprendente, onde podes ver o ofCyprus todo e coñecer algúns propia cultura e aldeas historcail no camiño.

Publicado por A & G KOUZALI Secretaría de Dereito o 22 de novembro 2011

Pista 1 - Esta pista é a pista para a extrema esquerda. It is used to drive as normal as you would on any road or highway. National speed limit applies.

Pista 2 - Esta é a pista do medio nunha estrada pista 3. Esta franxa é usada para superar os coches na pista 1. Esta franxa non é para ser usado para conducir normalmente de longa distancia. El é usado só para asunción despois deberá manuver volta a pista 1.

Lane 3 – This is predominatly called the fast lane. El é usado por máis de tomar os coches que van a un ritmo máis lento en pista 1 e 2. É tamén usado para cando hai colas de tráfico de ultrapassagem, nunha tentativa de aliviar conjestion. This lane is again only used for over taking as in lane 2 not for normal driving as in lane 1.

DO NOT

Non queda na pista 2 e 3 de todo o camiño ata o seu destino son para ultrapassagens só para aliviar a conxestión.

Se alguén está dirixido moi devagar ou utilizar a pista 3 como a súa franxa normal de conducción, non superar, indo para a pista 2 no interior iso é moi perigoso. É mellor para indicar as luces que deben manuver a pista 1 ou 2 para que a superar.

Non conducir lentamente nunha autoestrada, mesmo na pista 1, hai un límite de velocidade nacional que non só se aplica a velocidade, pero tamén a falta de velocidade. The speed limit is 100kilometers even if you are driving in the fast lane.

Se precisa máis información sobre como utilizar a estrada ollar esta en internet ou visitar a comisaría de policía local. Para os cidadáns que viaxan na autoestrada nova pista 3 en Chipre se dado un período de dúas semanas alguén chamou graza non cumprir as leis de autoestradas nacionais será penalizado de acordo coas leis de Chipre.

Publicado por A & G KOUZALI Secretaría de Dereito o ¹⁸ de novembro de 2011.

A & G Avogados Kouzali Chipre - Review - Tecelagem En Chipre

Tecer era moi popular de volta o día, pero como o tempo pasa e as xeracións se fan máis entretido coa tecnoloxía das tradicións Chipre vellas xa tristemente perdido alí camiño. Ademais, con folla facendo tan barato importar tecelões rapidamente se tornou unha cousa do pasado ea habilidade de tecer tamén foi perdido.

Adoitaba pensar tecelãs en cada aldea en Chipre teceduría lonxe na máquina antiga e tradicional teceduría facendo moitos panos bonitos e útiles agora é moi distantes entre si e, sobre todo, só para atracción turística. Tamén é moi difícil atopar as máquinas antigas de teceduría chamado "teares", senón como dixemos para atracción turística.

Nicosia e Famagusta eran moi famosos para a tecelagem de seda e iso foi exportado internacionalmente a través da porta, tamén Lapithos era moi popular para a tecelagem de seda atopado preto Kerynia este foi hai moitos anos. Esta tradición de Chipre acabou por perder o seu camiño no século 20, cando os países do Leste comezaron a ofrecer seda especialista en prezos moi baixos.

Podes atopar en Strovolos Nicosia un taller operada por certo cabaleiro querer manter viva a tradición e ata revivir a tradición e que atende polo nome de Loucaides Rolandos.

Sr Loucaides estudou os mecanismos enteiros de teceduría, comprou un tear que aínda estaba en perfecto estado de funcionamento e se foi. aínda estudando as técnicas e tecidos e traer de volta á vida o tecido man Chipre roupa que se pode atopar colgados na vitrina e en torno da súa tenda.

Este é un lugar definido para visitar cando está en Nicosia para veciños e turistas. todos nós temos que visitar eses lugares e amosar o noso apoio en manter a cultura viva de Chipre tan importante. Non só é moi interesante, pero tamén vai atopar algúns realmente único e tradicionalmente fermosas pezas para sempre ser estimado.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 24TH NOVEMBER 2011.

Chipre Law Firm - Review - Wine Chipre

Produtoras de viño inCyprushas está en funcionamento desde a illa era born.Cyprusis no top 40 países para a produción de viño e produce 40.000 toneladas de viño cada ano.

A empresa primeiro viño comercial formouse en 1844 este foi realmente cando os veciños decidiron facer a receita do viño antes de man que fora feita para o seu uso local. A empresa foi chamada ETKO. Desde entón, a industria do viño expandir-se e alí foron 4 empresas produtoras de viño principal inCyprus. ETKO, LOEL, SODAP e KEO.

Dende o ano pasado a exportación de viño converteuse en receita grande para theCyprusIslandand vinícolas pequenas comezaron a xurdir. Claro que como o tempo pasou e novas leis entran en acción e coa adhesión para as cousas da UE moitos cambiaron.

Moitas cousas positivas aconteceron para as vinícolas e moitos novos viños foron e aínda están sendo producidos para ser recoñecido a nivel internacional.

Chipre é agora un país de viños ben coñecido producir viño de calidade superior e as moitas viñas espalladas Chipre e as vinícolas propias onde os visitantes poden visitar para paseos de degustación de viño son un deleite absoluto.

A industria do viño inCyprusis tan popular agora thatCyprusholds festivais de viño, onde moitos cidadáns de todo o país veñen visitar e concursos de degustación de viño tomar inCyprusand lugar internacionalmente. A UE agora axuda a 122 vinícolas inCyprusto recoller os seus produtos que é o que a industria do viño está a evolucionar inCyprusand todos os días.

Tamén podes visitar theCyprusWineMuseumwhich é un día fantástico para toda a familia, onde se pode degustar algúns dos máis famousCypruswine e sabe todo sobre a industria do viño que abrangue máis de 5 anos atrás!

Publicado por A & G KOUZALI Secretaría de Dereito o 24 de novembro 2011

Avogados en Famagusta - Comentarios - Chipre Forst estradas Terra 3

Chipre offcially ten a súa estrada primeira pista rematada 3 acomodar miles de coches todos os días viaxan en Nicosia. Con todo, os cidadáns non saben realmente como empregar unha estrada.

Isto é moi divertido cando pensa que estamos no ^século 21!

A autoestrada de 3 tomou pouco menos de 2 anos para ser completado e está deseñado para axudar ás longas filas de tráfico que viaxa cara á capital da illa todos os días. Anteriormente sería moi común de sentir en filas por un bo tempo e agora espero que a estrada pode impedir iso. A razón principal para esta nova autoestrada é a esperanza de que ha diminuír a cantidade de accidentes de tráfico. Iso non vai ter efecto ata que os cidadáns realmente saben como usalo correctamente.

A policía non obstante, ter emitido un aviso aos viaxeiros en coche para facer a súa lección de casa sobre como usar unha autoestrada como están permitindo só a 2 período de carencia de semana para os que non están utilizándose correctamente. Calquera pego non utilizar a estrada correctamente tras un período de 2 semanas será penalizado de acordo coas leis de tráfico.

Para ser xusto o Reino Unido tivo autoestradas desde antes do tempo e as persoas non saben como usalos así á Illa de Chipre para acostumar con iso en 2 semanas e pedir moito. É moi sinxelo de usar, pero algúns viaxeiros calquera non pode ser incómodo e dirixir como quere ou dous realmente non sei dirixir e onde se senten máis cómodos.

A nova autovía comeza a partir da estrada Larnaca / Limassol conectar directamente Nicosia. Todo o proxecto custou arredor de máis de 30 millóns de euros e foi concluído beofre schelue wow isto é un primeiro tamén para Chipre!

Parabéns para a autoestrada primeira pista 3 en Chipre!

Consulte o noso artigo sobre como usar correctamente e con seguridade da autoestrada nova pista 3.

Publicado por A & G KOUZALI Secretaría de Dereito o ¹⁸ de NOVEMEBR 2011

Avogados inCyprus-Review-CyprusDeficit - Feito o 21 de novembro de 2012

Pensa-se thatCypruswill moi improbable chegar a Directiva da UE sobre o déficit do país dentro do prazo establecido. Isto significa máis sancións e máis presión sobre o público para cubrir as sancións ten por seguro sobre iso!

O porcentaxe destinada a alcanzar en 2012 é inferior ao 3%, mentres os pensamentos son que vai ter sorte para ver por baixo de 5%, o que podería significa instante multas toCyprus.

Medidas de austeridade propostas foron varias veces discutida e rexeitada eo goberno aínda teñen que concordar con tales medidas de austeridade que han axudar o déficit. Moi pouco se fixo para cortar gastos, especialmente cando se trata da folla de pagamento do Estado o seu propio. E quen será este caer sobre o público!

O goberno está agora nunha corda frouxa para garantir medidas de austeridade duras para garantir que o prazo eo porcentaxe branco son cumpridos.

O seu é todo moi ben e dândi da UE obrigando os Estados a asegurar que isto ocorre, pero mediante a aplicación de sancións máis como xa dixen antes só trae máis presión sobre nós o contribuínte. Non pode a UE engadir unha cláusula coa sanción que o público non debe pagar polos erros dos gobernos e que o goberno debe cargar o fardo só ... si isto é un soño, por suposto!

Pénsase que 2013 será o ano a ver un crecemento positivo mentres que 2012 vai permanecer estagnado é a clave para manter a súa vez, en 2012 un ano negativo será a esperanza dun outro bo ano para o turismo. O aumento do IVE para o 17% se pasou é esperar a ver caída do país 1% de déficit, que é unha figura tan grande dúbida, este será rexeitado.

Ben, todo o que podemos dicir é 2012 será un ano difícil para o público en Chipre se tales duras medidas de austeridade son necesarios para evitar unha axuda da UE, pero vai ser un ano tan difícil para os funcionarios do goberno permite que esperar e ver?

Publicado por A & G KOUZALI Secretaría de Dereito o 21 de novembro de 2011.

Bufete de avogados na costa leste de Chipre - Review - UK crise financeira

Se pensamos que temos que inCyprusmaybe malo temos que facer unha viaxe para theUKand ver como mal as cousas que teñen neste momento.

Cando o goberno inCyprustalks sobre novas medidas de austeridade que quizais un plan de 2-3 anos en conta. Pero theUKis falando dun plan de 10 anos. Sempre pensamos que a herba é máis verde, pero é realmente?

Os cidadáns do Reino Unido xa dan un 50% dos seus salarios ao goberno, eles pagan imposto de votación, que pagar imposto sobre o peso do seu lixo os homes do lixo levar, que pagan taxas de licenza de TV, de feito, logo que mercar unha televisión nova en the UK your name and address must given to register the new TV with the licensing office.

Os bancos están practicamente no mesmo barco asCyprus, Britainused para ofrecer préstamo de alto a hipotecas de valor estes días son moito máis unha cousa do pasado e hipotecas son moi difíciles de atopar. Polo tanto quedando na escaleira da propiedade, a menos que vostede é un compradores de diñeiro é practicamente imposible. O alivio só o mercado inmobiliario ten e as vantaxes fiscais dadas de arrendamento de theUKproperty

A lista vai sobre e sobre. Emprego é a contenda en theUK, moitos están damnificados ea pesar de teren leis máis rigorosas, drogas, armas e bandas son a norma. Entón unha vez Reiteramos a herba é realmente máis verde do outro lado?

Pénsase que un plan de austeridade 10 anos pode beneficiar a Gran Bretaña moito máis que un plan de austeridade curta e pechada para cidadáns británicos non sei o que o goberno se realmente agora tributar vostede como parece que obter a maioría do seu diñeiro, pero xa parece que ten un longo de 10 anos dunha cabeza de vós!

Publicado por A & G KOUZALI Secretaría de Dereito o 28 de novembro de 2011.

Avogados inFamagusta-Review - 20/20 Federación da Xuventude

Os esforzos para a reunificación da illa de Chipre están ocorrendo ao longo das xeracións máis novas nun lance que van realmente influír os máis vellos e os políticos.

Esta é unha boa idea ... Nada mellor para comezar! A xeración máis nova é o futuro e son elas que debemos educar desde cedo para deixar os que toman xa posicións moi definidas desde a xeración máis vella.

Sentimentos inCyprusare moi mesturado. A xeración máis vella dos chipriotas que viviron a invasión turca considerar que é moi difícil por suposto divagar. Súas experiencias de si mesmos e os seus pais a través desa vez son concretas nas súas memorias, pero as xeracións máis novas teñen memorias máis frescas e só escoitar de segunda man para que haxa máis de posibilidades de que os sentimentos sobre a situación pode ser superada!

Un evento recentemente tivo lugar de individuos novos de ambos lados theIslandnamely conferencia a 20/20 mozos. O evento dá a todos os mozos a oportunidade de traballar xuntos en paz e presentar as súas ideas para unha reunificación harmoniosa. Había 3 talleres diferentes, que lles permitiu crear carteis e vídeos e declaracións que poden ser utilizados para promover a reunificación illas.

O proxecto está organizado por dous voluntarios Chipre grego e turco de que será un proxecto continuo e esperamos que vai traer moitos máis da xeración máis nova de Chipre grego e turco xuntos e aínda a illa relación ampla entre os dous lados.

Como xa dixemos antes de que sexa en mans das persoas máis do que os políticos. Os políticos xestionar as formalidades a xente lidan con as realidades!

Publicado por A & G KOUZALI Secretaría de Dereito o 28 de novembro de 2011.

Famagusta Lawyers – Review – Energy costs affecting Christmas

We have Christmas round the corner once again and sorry to say this year may not be so bright and festive. Why is this?….simply because the cost of energy in Cyprus will make many companies and households think twice about using such high amounts of power.

How sad have things become here that we are now having to cut down on Chrsitamd lights to save on electric bills.

On the good side citizens are also taking into consideration the energy saving factor not just relating to financial costs but also to the general energy saving issue. Especially after the Mari blast explosion.
Many municipalities are only decorating main buildings and many road sides will not be decorated as per usual. Many new types of energy saving lights have been bought. And some municipalities will have time restrictions.
Its a sad state of affairs when Chrsitams comes around and we have to think about energy costs instead of the festive season to be had. But thats how it is folks with regards to the electric here. Every mistake thats made comes to us through our electric bills.

Evem after Chrsitamd we are expecting another increase in energy costs thats a great start for the new year.

Wecan over come this by buying low consumption lighting and having them the lights on at the most convenient times of the day when they will be the most visable.
Many business owners are weary that not lighting up their business will drop the level of Chrsitmad spirit hence drop the level in comsumer activity.
This is a fact of life we just have to deal with at the moment until the government and departments get their house in order!
PUBLISHED BY A&G KOUZALI LAW OFFICE ON 19TH NOVEMBER 2011.

For the purpose of raising revenues and decreasing government spending, the House of Representatives of Cyprus voted on the 26 ^th of August 2011, the following changes in the Tax and Company Legislation:

The Income Tax Law changes

• Abolition of exemption from taxation of the official emoluments and the pension of the President of the Republic and the pension of the President of the House of Representatives. Entry in to force: As from 1/01/2011.

• A new tax incentive has been introduced for the employment in Cyprus of persons who are not tax Residents of Cyprus: In such a case if the income from employment exceeds €100.000 per annum a 50% deduction is granted for such income for the first 5 years of such employment. This incentive is granted to anyone (Cypriot or non Cypriot) provided that prior to his employment in Cyprus this person was resident outside Cyprus and was not considered as a tax resident of Cyprus. Entry into force: As from 01/01/2012.

• A new income tax rate of 35% has been introduced for individuals on there taxable income in excess of €60.000. Entry into force: As from 01/01/2011.

The Special Contribution for the Defense of the Republic Law changes

• Increase in the rate of defense Tax on interest received by or credited to Cypriot Tax residents from 10% to 15%. This is applicable to both individuals and corporations provided this income is classified as interest. For more details as to when interest received or accrued is considered as trading income see the relative article on our website.

• Increase in the rate of defense Tax on dividends received or accrued or deemed to be received by a Cypriot tax resident from 15% to 17%. This applies only to individuals since generally companies are except from the defense tax on dividends. For more details as to the taxation of dividends see the relative article on our website.

• Both changes are effective as from 31/08/2011.

The Immovable Property Tax Law changes

• The rates applicable for the payment of the immovable property tax which is imposed on every person owning property in Cyprus have changed. The rates effective as from the year 2012 are as follows:

Up to €120.000 0%0

From €120.000 to €170.000 4%0

From €170.001 to €300.000 5%0

From €300.001 to €500.000 6%0

From €500.001 to €800.000 7%0

Over €800.000 8%0

It should be noted that the Tax is levied on the assessed value of the property as at 1/1/1980.

The Value Added Tax Law changes

• Individuals who buy or construct a flat or a house to be used as their private main residence are entitled to a reduced VAT rate of 5% on this residence provided the area of the property does not exceed 200 square meters. It should also be noted that the reduced rate of 5% also applies on the first 200 square meters if the total area of the property does not exceed 300 square meters.

The Companies Law changes

• As from 2011 an annual levy of €350 is introduced for all companies incorporated in Cyprus, payable to the Registrar of Companies. For groups of companies the maximum levy is fixed at €20.000.

• The levy for 2011 must be paid by 31 December 2011, whereas the levy for 2012 onwards must be paid by 30 June of each year.

• No annual levy is imposed for the year of incorporation.

• Dormant companies, companies which do not own any assets, as well as companies owning property located in the non Government controlled areas of Cyprus are exempted from the payment of the levy.

In case the levy is not paid in the prescribed period penalties are imposed .

Cyprus Corporate Services Multilysis Services Limited

Chipre Avogados N. Pirilides & Associates LLC

Co fin de aumentar ingresos e diminuír os gastos do goberno, a Cámara dos Representantes de Chipre votado ^o 26 de agosto de 2011, os seguintes cambios na lexislación tributaria e da Empresa:

Os ingresos de dereito cambios fiscais

• Abolición da exención de tributación dos emolumentos oficiais ea pensión do presidente da República e da pensión do presidente da Cámara dos Deputados. Entrada en vigor a: A partir de 2011/01/01.

• A new tax incentive has been introduced for the employment in Cyprus of persons who are not tax Residents of Cyprus: In such a case if the income from employment exceeds €100.000 per annum a 50% deduction is granted for such income for the first 5 years of such employment. This incentive is granted to anyone (Cypriot or non Cypriot) provided that prior to his employment in Cyprus this person was resident outside Cyprus and was not considered as a tax resident of Cyprus. Entry into force: As from 01/01/2012.

• A new income tax rate of 35% has been introduced for individuals on there taxable income in excess of €60.000. Entry into force: As from 01/01/2011.

The Special Contribution for the Defense of the Republic Law changes

• Increase in the rate of defense Tax on interest received by or credited to Cypriot Tax residents from 10% to 15%. This is applicable to both individuals and corporations provided this income is classified as interest. For more details as to when interest received or accrued is considered as trading income see the relative article on our website.

• Increase in the rate of defense Tax on dividends received or accrued or deemed to be received by a Cypriot tax resident from 15% to 17%. This applies only to individuals since generally companies are except from the defense tax on dividends. For more details as to the taxation of dividends see the relative article on our website.

• Both changes are effective as from 31/08/2011.

The Immovable Property Tax Law changes

• The rates applicable for the payment of the immovable property tax which is imposed on every person owning property in Cyprus have changed. The rates effective as from the year 2012 are as follows:

Up to €120.000 0%0

From €120.000 to €170.000 4%0

From €170.001 to €300.000 5%0

From €300.001 to €500.000 6%0

From €500.001 to €800.000 7%0

Over €800.000 8%0

It should be noted that the Tax is levied on the assessed value of the property as at 1/1/1980.

The Value Added Tax Law changes

• Individuals who buy or construct a flat or a house to be used as their private main residence are entitled to a reduced VAT rate of 5% on this residence provided the area of the property does not exceed 200 square meters. It should also be noted that the reduced rate of 5% also applies on the first 200 square meters if the total area of the property does not exceed 300 square meters.

The Companies Law changes

• As from 2011 an annual levy of €350 is introduced for all companies incorporated in Cyprus, payable to the Registrar of Companies. For groups of companies the maximum levy is fixed at €20.000.

• The levy for 2011 must be paid by 31 December 2011, whereas the levy for 2012 onwards must be paid by 30 June of each year.

• No annual levy is imposed for the year of incorporation.

• Empresas inactivas, as empresas que non posúen os bens, así como empresas que posúen propiedades situadas nas áreas do goberno non controladas de Chipre están exentos do pagamento da imposición.

No caso da taxa non se paga no prazo fixado as penas son impostas.

Chipre Corporate Services Multilysis Services Limited

Chipre Avogados N. Pirilides & Associates LLC

The natural gas conference held by the President of the Republic of Cyprus took place at the Presidential House. During the conference, the Minister of Finance, the Minister of Interior and the Minister of Trade & Agriculture participated. The conference took place due to the first drill scheduled to take place in the exclusive economic zone of Cyprus by the American based company called “Noble”.

After the conference, the President mentioned that “the conference addressed the attempts—as well as the acts of the Republic of Cyprus—in the exploitation of possible carbohydrate deposits in the ADZ of Cyprus. Moving forward, the Republic of Cyprus has made a deal with the “NOBLE ENERGY” company to carry out the research.

Christofias presidente dixo que os acordos que Chipre celebrados con países veciños, como Exipto, Israel e Líbano, favoreceu e asistido intentos de Chipre para explorar a riqueza subacuática de Chipre. , Subliñou a importancia destas actividades nas relacións entre países veciños, como para a delimitación da zona económica exclusiva do noso país.

O obxectivo da broca é para confirmar a existencia de hidrato de carbono, como a investigación xeofísica suxeriu ata agora. Segundo a investigación, a posibilidade é moi grande. Ademais de que, a broca vai garantir a cantidade ea calidade dos depósitos potenciais. Deste xeito, a perspectiva ea posibilidade de extraer o gas natural, subaquática será determinada.

Por outra banda, a Turquía expresou o seu interese en non hostís as relacións con países veciños. Nunha reunión entre EAC (Autoridade de Electricidade do Chipre), Noble e Delek, as tres empresas manifestaron a súa dispoñibilidade para unha posible cooperación no ámbito do gas natural. A reunión foi só un dos moitos entre EAC e as dúas empresas, que se están facendo activa na área de escavación e explotación comercial do gas natural.

Un anuncio correspondente menciona que o papel da EAC é considerada por ambas as empresas como moi importante, pois EAC será o máis importante e quizais o único consumidor dese gas.

http://www.multilysis.com/

The natural gas conference held by the President of the Republic of Cyprus took place at the Presidential House. During the conference, the Minister of Finance, the Minister of Interior and the Minister of Trade & Agriculture participated. The conference took place due to the first drill scheduled to take place in the exclusive economic zone of Cyprus by the American based company called “Noble”.

After the conference, the President mentioned that “the conference addressed the attempts—as well as the acts of the Republic of Cyprus—in the exploitation of possible carbohydrate deposits in the ADZ of Cyprus. Moving forward, the Republic of Cyprus has made a deal with the “NOBLE ENERGY” company to carry out the research.

President Christofias said that the agreements that Cyprus concluded with neighboring countries like Egypt, Israel and Lebanon, has favoured and assisted Cyprus attempts to explore the underwater wealth of Cyprus. , stressed the importance of these activities in the dealings between neighboring countries such as for the delimitation of the exclusive economic zone of our country.

The purpose of the drill is to confirm the existence of carbohydrate, as geophysical research has suggested until now. According to research, the possibility is really big. Apart from that, the drill will ensure the amount and the quality of the potential deposits. In this way, the perspective and the possibility of extracting the underwater natural gas will be determined.

On the other hand, Turkey has expressed its interest in non-hostile relations with its neighbor countries. In a meeting between EAC (Electricity Authority of Cyprus), Noble and Delek, the three companies expressed their willingness for a potential cooperation in the field of natural gas. The meeting was just one of many between EAC and the two companies, which are becoming active in the field of excavation and trade exploitation of natural gas.

Un anuncio correspondente menciona que o papel da EAC é considerada por ambas as empresas como moi importante, pois EAC será o máis importante e quizais o único consumidor dese gas.

http://www.multilysis.com/

The re-domiciliation of these companies to the Republic of Cyprus can be effected under the Companies Law of the Republic of Cyprus, CAP 113 and more specifically under Article 354A of the Law.

The procedure of re-domiciliation of a foreign company to Cyprus is as follows:-

An application is made by the foreign company in question to register in Cyprus. This is then filed to the Registrar of Companies. The application should be accompanied by various corporate &/or legal documents which concern the foreign company.

Within six months from the date of issue of the certificate of temporary continuation, the company must submit to the Registrar proof that it has been “de-registered” from its transfer-out jurisdiction. The company is then issued with its permanent certificate of continuation.

A company which wishes to re-dominicilliate its registered office to Cyprus must apply to the Registrar of Companies in order to be granted with a 'certificate of continuance' in Cyprus.

MULTILYSIS SERVICES LIMITED has a long expertise in this area of corporate practice and can be of assistance. For more information & or enquiries, do not hesitate to contact us at info@multilysis.com .

The re-domiciliation of these companies to the Republic of Cyprus can be effected under the Companies Law of the Republic of Cyprus, CAP 113 and more specifically under Article 354A of the Law.

The procedure of re-domiciliation of a foreign company to Cyprus is as follows:-

An application is made by the foreign company in question to register in Cyprus. This is then filed to the Registrar of Companies. The application should be accompanied by various corporate &/or legal documents which concern the foreign company.

Within six months from the date of issue of the certificate of temporary continuation, the company must submit to the Registrar proof that it has been “de-registered” from its transfer-out jurisdiction. The company is then issued with its permanent certificate of continuation.

A company which wishes to re-dominicilliate its registered office to Cyprus must apply to the Registrar of Companies in order to be granted with a 'certificate of continuance' in Cyprus.

MULTILYSIS SERVICES LIMITED has a long expertise in this area of corporate practice and can be of assistance. For more information & or enquiries, do not hesitate to contact us at info@multilysis.com .

On the 26 ^th of August 2011, the House of Representatives voted as a first package of measures a number of amendments to tax legislation for the purpose of raising revenues and decreasing government spending and for the objective entry into the support mechanism.

These changes relate to increasing various taxes, introducing a levy for all companies incorporated in Cyprus, as well as introducing and/or increasing contributions to pension schemes of government employees, local authorities and semi-governmental organizations, and introducing a special levy for two years on the salaries and pensions paid to government employees, local authorities and semi-governmental organizations.

In the next few months a second and probably a third package of additional measures is expected, which hopefully should focus on further reductions in government spending. The increase in the VAT rate from 15% to 17% is expected to be approved with the second package of measures.

The most significant changes in the tax and company legislation are set out below:

The Income Tax Law

• Increase in the maximum personal income tax rate to 35%

A new income tax rate of 35% is introduced for individuals on taxable income in excess of €60.000.

• Tax incentives for the employment in Cyprus of highly paid non Cypriot resident individuals

In order to encourage the establishment or development in Cyprus of new businesses, tax incentives are offered for the employment in Cyprus of persons who are not tax residents of Cyprus. In such a case, if the income from employment exceeds €100.000 per annum, a 50% deduction is permitted for such income for the first 5 years of employment. The incentive is granted both to Cypriots and non-Cypriots, on condition that prior to the employment in Cyprus, such a person was resident outside Cyprus and was not considered as a tax resident of Cyprus.

• Abolition of exemption from taxation of the President of the Republic and the President of the House of Representatives

The exemption from taxation of the official emoluments and the pension of the President of the Republic and the pension of the President of the House of Representatives is abolished.

• Entry into force

The increase in the personal tax rate will come into effect as from the 1 ^st January 2011, whereas the incentive for new employees will come into force for employments starting as from the 1 ^st of January 2012.

The Special Contribution for the Defence Law

• Increase in the rate of defence tax on interest from 10% to 15%

The rate of special contribution for the Defence of the Republic (“defence tax”) on interest received or credited by Cypriot tax residents is increased from 10% to 15%. This applies to both individuals and corporations. In the case of corporations, if the interest results from the ordinary carrying on of any business, including any interest closely connected with the ordinary carrying on of the business, it is not subject to defence tax, but instead is subject to corporate income tax. Therefore, financing companies, including companies involved in intra –group financing activities, are not expected to be affected from the involved in intra–group financing activities, are not expected to be affected from the change in the rate. It should be noted that no defence tax is payable on interest payments to non residents. It should also be noted that this provision applies to interest received by resident individuals or corporations, both from sources within Cyprus and outside of Cyprus.

For provident funds, defence tax on interest received remains at 3%, as well as in the case of an individual whose total income for the year does not exceed €12.000 (including interest income). The same rate applies to interest received by an individual from Government savings certificates and developments stocks.

• Increase in the rate of defence tax on dividends from 15% to 17%

The rate of defence tax on dividends received by a Cypriot tax resident is increased from 15% to 17%. This applies only to individuals, since under the provisions of the legislation companies are generally exempt from the payment of defence tax on dividends.

The increase in the rate also applies when the deemed distribution rules ate applied in cases where a tax resident company does not distribute within two years at least 70% of its after tax profits.

It should be noted that no defence tax is levied on dividends paid to non-resident individuals or corporations. It is also noted that the deemed distribution rules are not applicable in the case where shareholders of a resident company ate non tax residents of Cyprus. However, the deemed distribution rules are applicable in the case of a Cypriot tax resident company owned by another Cypriot tax resident company, which in turn is owned by non residents. It is expected that shortly such companies will be included from the provisions of the deemed distribution rules, therefore there should be a significant benefit for such companies in case of inability to distribute an actual dividend.

• Entry into force

The above provisions will enter into force as soon as the new law is published in the official gazette of the Republic.

The Immovable Property Tax Law

The rates applicable for the payment of immovable property tax, which is paid by both individuals and companies on property owned in Cyprus are significantly increased, as well as the threshold as from which taxes are paid is lowered. It should be noted that tax remains levied on the assessed value of the property as at 1 January 1980. The rates are as follows:

Up to €120.000 0%0

From €120.000 to €170.000 4%0

From €170.001 to €300.000 5%0

From €300.001 to €500.000 6%0

From €500.001 to €800.000 7%0

Over €800.00 8%0

The increase will be effective as from the year 2012.

The Companies Law

• As from 2011 an annual levy of €350 is introduced for all companies incorporated in Cyprus payable to the Registrar of Companies. For groups of companies the maximum levy is fixed at €20.000.
• The levy for 2011 must be paid by 31 December 2011, whereas the levy for 2012 onwards must be paid by 30 June of each year.
• Dormant companies, companies which do not own any assets, as well as companies owning property located in the non Government controlled areas of Cyprus are exempted from the payment of the levy.

In case where the levy is not paid within the prescribed period, if the levy is paid within two months from the due date, a penalty of 10% is payable which is increased to 30% if the levy is paid within five months from the due date. If the levy is not paid within five months, the Registrar of Companies will remove the company from the registry (something which is expected to restrict the company from filing documents or requesting certificates from the Registrar's Office). The return of the company to the registry can be effected within two years with the payment of a levy of €500 per annum and thereafter with the payment of a levy of €750 per annum.

The Value Added Tax Law

Under existing legislation, individuals who buy or construct a flat or house to be used as private main residence ate entitled to apply for a refund amounting to about €17.000 from the Government. This provision is replaced with the introduction of a reduced VAT rate of 5% on the purchase or construction of a house or flat to be used as private main residence, provided the area of the property does not exceed 200 square meters if the total area of the property does not exceed 300 sq.m).

Cyprus Corporate Services Multilysis Services Limited

Chipre Avogados N. Pirilides & Associates LLC

Limassol has been selected to be within the list of the top 50 from 500 destinations in southern Europe.

As a representative from the Limassol, Municipality announced, Limassol was chosen to be included in the list of 'Fifty (50) excellent destinations in Southern Europe due to Quality of Beaches for 2011'.

The research took place, under the Union's initiative in relation to the Beach and sea Areas-EUCC of the European program on Quality Coast, in more than 500 international destinations in southern Europe.

Part of the above mentioned list of one of the' 50 excellent Quality Coast 2011 – of Southern Europe destinations' – was Pafos and Kouklia, which are both considered, internationally, as one of the most attractive destinations for tourists who wish to enjoy the natural and cultural heritage, local identity and environment.

The Mayors of the city-destinations which were awarded the above mentioned awards, were invited to the International Ceremony and Laboratory Quality Coast in Cyprus, which took place on the 13th May, in the medieval castle of Kouklia near Afrodite's rock.

During the ceremony, Professor Johan Vande Lanotte delivered the certificates and the relative flags to the Mayors.

Chipre Avogados N. Pirilides & Associates LLC - Cyprus Corporate Services Multilysis Services Limited

Russian President Dmitry Medvedev in his congratulatory message to Cyprus President Demetris Christofias for his 65 ^th birthday highlighted the importance of the intensification of Russian – Cyprus relations and cooperation.

The Russian President in his message, which can be found in the official web page of Kremlin, said accordingly “In Russia you are considered rightly as a sincere friend for our country and we attach a high appraisal for the years you contribute to the development of Russian-Cyprus relations.”

The Russian President continued and stated “I look forward that the confidential dialogue between the two nations will contribute in promoting a constructive agenda both bilaterally and on an international level” Further Dmitry Medvedev, added that he himself attaches a great deal of importance for the implementation of agreements between the two nations which were achieved in October 2010 as the culmination of the talks in Cyprus.

“As a matter of priority treated intensification of multifaceted and geared in future Russian-Cypriot partnership”, says Russian President concluding that he is convinced that the further dynamic development of the relationship between the two nations meets the fundamental interests of both the Russia and Cyprus people and serves towards the consolidation of regional and global stability.

Chipre Avogados N. Pirilides & Associates LLC - Cyprus Corporate Services Multilysis Services Limited

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

Tax chargeable on any supply of goods or services is a liability of the person making the supply. Taxable person is every person, natural or legal, resident in the Republic or abroad, who carries on a business and has registered as such in the VAT Register or he is liable to be registered according to the provisions of the VAT legislation .

The term “business” includes any trade, profession or vocation.

Employees or other natural persons who are bound to any employer by a contract of employment or by other legal relation, which creates relationship of employer and employee, are not considered to be carrying out an economic activity and therefore they are not considered as taxable persons.

In addition the VAT legislation provides that Governmental Authorities, Local Authorities and Public Authorities are not deemed to be taxable persons for the supplies of goods or services made by them in carrying out their mission. There are however some exceptions.

The supplies of goods or services made by a person who is not considered as taxable, are not VAT chargeable. On the other hand when this person buys goods or services, he is charged with VAT as if he was the final consumer.

VAT is charged on every taxable supply of goods or services that is on every supply of goods or services made within the Republic, by a taxable person in the course or furtherance of any business carried on by him.

As a general rule a supply of goods or services is considered to be taxable if made for consideration. Nevertheless, the Law provides that specific supplies are considered to be taxable even if made for no consideration.

The supply of any goods is treated as made in the Republic if the goods are in the Republic. The supply of any services is treated as made in the Republic if the person supplying them is in the Republic.

As an exception, the legislation provides that the supply of certain services should be treated as taxable even if made by a person who is in another country and received by a person who registered in the Republic.

Registration with VAT

According to the VAT legislation, every person making taxable supplies is liable to be registered in the following cases:

(i) At the end of any month, if the value of his taxable supplies in the period of one year then ending has exceeded €15.600

(ii) At any time, if there are reasonable grounds for believing that the value of his taxable supplies in the period of thirty days then beginning will exceed €15.600.

A person who by virtue of (i) is liable to be registered, is obliged to notify the VAT Commissioner of his liability by submitting an “Application for Registration in the VAT Register” (Form VAT 101) to the local VAT Office, within thirty days of the end of the relevant month and his registration is effective as from the end of the month following the relevant month or from such earlier date as may be agreed between the person and the VAT Officer.

If a person is liable to be registered by virtue of (ii), he is obliged to notify the VAT Commissioner of his liability by submitting an “Application for Registration in the VAT Register” (Form VAT 101) to the local VAT Office, before the end of thirty-day period to which the liability arises and the registration is effective as from the beginning of this period.

Failing to comply, the person is liable to a levy of €85 for every month or part of month of the delay or refusal or omission . It is clarified that the liability of a taxable person to be registered exists whether or not he has submitted an application for registration. The VAT Commissioner is authorized by the Law to register a taxable person retrospectively, that is from the date that person was, according to the Law, liable to registration. If a taxable person liable to registration neglects to be registered, he is still liable to pay tax on all the supplies he made from the date he was liable to registration.
It is noted that persons making zero-rated supplies are also liable to be registered.

Entitlement to register

A person not liable to be registered is entitled to be registered in the following cases:

(i) Voluntary registration

If a person makes taxable supplies the value of which does not exceed the thresholds that would make him liable to be registered, then he is entitled to apply for voluntary registration by submitting an “Application for Registration in the VAT Register”.

(ii) Intending traders

If a person engages in a business and intends to make taxable supplies of goods or services, he is entitled to apply to be registered as intending trader by submitting an “Application for Registration in the VAT Register”.

The registration is effective from the date of the application or any other previous date as may be agreed between the VAT officer and the taxable person.
Additionally, farmers are entitled to voluntary registration, regardless of the value of the supplies they make in the period of one year, which consist of agricultural products of their own produce or agricultural services.

Acquisitions

Any person making acquisitions in Cyprus is liable to be registered:

(a) at the end of any month , the total value of that person´s acquisitions from all other member States in the year beginning from 1 January has exceeded the registration threshold of €10.251,61; or

(b) at any time that there are reasonable grounds to believe that the value of the acquisitions that person would be making in the following 30 days alone will be over the registration threshold of €10.251,61;

A person making acquisitions according to the previous paragraph is liable to notify his/her obligation to be registered on Form VAT 106. Failure to comply, renders the person liable to a levy of €85 for every month of the delay or refusal or omission.

Where the acquisitions of any person does not exceed the threshold of €10.251,61, then that person may register for making acquisitions in Cyprus voluntarily.

Distance Sales

Any person making distance sales (sales from a person established in another member State), is liable to register for VAT purposes in Cyprus and account for VAT in Cyprus, if in the period starting from the 1st January of the year, the value of distance sales exceeds €35.000. This person is liable to notify liability to register on Form VAT 105. Failure to conform renders the person liable to a levy of €85 for every month of the delay or refusal or omission.
There is also the right for voluntary registration when the threshold is not reached.

Obligations of person/s registered with VAT

According to the VAT legislation, every taxable person is liable, among others, to:

(i) Be registered if the value of taxable supplies of goods or services exceeds the thresholds as set by the VAT Law.

(ii) Notify their liability to be registered within 30 days of the date that the liability emerged.

(iii)Notify the termination of taxable supplies or of the intention to make taxable supplies within 60 days of the date of the termination.

(iv) Pay a levy of €85 for every month or part of month of the delay or refusal or omission to comply with point (i) and (ii) above and €85 for the delay or refusal or omission to comply with point (iii) above.

(v) Submit tax declarations not later than the 10th day following the end of the month following the end of each tax period.

(vi) Pay the tax due not later than the 10th day following the end of the month following the end of each tax period.

(vii)Pay a levy of €51 for the delay or refusal or omission to submit a tax return.

(viii) Provide other taxable persons with tax invoices.

(ix) Retailers must issue a tax invoice, if the customer is a taxable person and asks for one and if the consideration exceeds €85.

(x) Issue tax invoices at the prescribed time.

(xi) Pay any amount that has been assessed or reassessed by the VAT Commissioner.

(xii) Produce certain documents relating to input tax upon request by the VAT Commissioner.

(xiii) Give such amount of security, upon request by the VAT Commissioner, for that amount of tax payment.

(xiv) Not make any taxable supplies, if the VAT Commissioner requires so, unless the taxable person furnishes the VAT Commissioner with any form of security for securing payment of the tax concerned.

(xv) Pay any amount that has been charged as VAT on an issued invoice.
(xvi) Pay an additional levy equal to 10% of the amount which the taxable person neglects or refuses to pay.

(xvi) Pay interest at 9% in cases where the taxable person continues to neglect or refuses payment of any amount due after 30 days.

(xvii) Keep books and records for the purposes of verifying the supplies of goods or services which the taxable person makes or receives.

(xviii)Provide every facility that may be required by the VAT Commissioner for the purpose of examination by any person authorized by the VAT Commissioner of any books and records.

(xix) Preserve books and records for at least seven years, unless the VAT Commissioner fixes otherwise.

(xx) Pay a levy of €85 for the omission to comply with the above – points xix and xx.

(xxi) Notify the VAT Commissioner of such facts and information in respect of any change or alteration of circumstances and conditions of the business.

(xxii) Furnish to the VAT Commissioner such information relating to the goods or services or the supplies of goods or services or importation.

(xxiii)Produce for inspection and search at such time and place as may be reasonably required any documents relating to the business.

(xxiv) Pay a levy of €85 for the omission to comply with the above – points xxiii – xiv.

(xxv) Provide samples of goods to enable the correctness of their tax treatment to be examined.

VAT on imported goods

VAT is charged on all imported goods regardless of the importer being a taxable person or not. In the importation of goods of goods, VAT is considered to be an imports duty and is charged as if it were a duty of Customs.

In certain cases, the importation of services, that is the supply of services from abroad to Cyprus, is treated as a taxable supply of services made by the recipient, if he is a taxable person.

Tax returns, tax payment and credit

Every taxable person is liable to submit Tax Declarations and pay the tax that may be due, usually every three months. Tax declarations relate to certain tax periods that are made known to the taxable person at the stage of his registration. The VAT Service dispatches tax declarations to the last known address of a registered person. The liability to submit tax declarations exists regardless of the relevant form being received or not by the taxable person. Thus, if he has not received it on time, he should contact the VAT Office of his district and ask for the form to be reissued.

On the tax declarations, taxable persons calculate their output tax (the tax on supplies of goods or services they made during the relevant tax period and the VAT calculated on the acquisition of goods from other member States).

Books and records to be kept

According to section 43 and the Tenth Schedule of the VAT Law, every taxable person must keep books and records and preserve them for at least seven (7) years after the completion of the entries or deeds written therein, unless the VAT Commissioner, by relevant notification to the person concerned, fixes otherwise. Every taxable person has to keep books and records of all the taxable supplies of goods or services he makes or receives for the purpose of his business and for intra-community transactions he makes. Books and records must be kept up-to-date, with adequate information and in a manner that enables taxable persons to use them to calculate the payable or claimable amount of tax and fill in tax declarations. Books and records must also be kept in a manner that VAT officers can easily examine them in order to verify VAT declarations but this manner should not be contrary to business practices. In addition VAT legislation provides for special arrangements concerning keeping books and records in connection with the special regimes ie Retail Schemes, Profit Margin Schemes etc.

Taxable persons must keep and preserve the required books and records at the premises of the business.

Relevant to the above is chapter VIII of the VAT Guide, information leaflet 10 and information leaflet 12A on the Margin Scheme for Tour Operators published by the VAT Service.

VAT Invoice

As a general rule, every registered taxable person

- who makes taxable supplies of goods or services to other taxable persons in Cyprus
- makes a supply of goods or services, other than an exempt supply, to a person in another member state

- receives a payment on account from a person in another member state for a supply that he has made or intends to make,

is required to provide them with VAT invoices.

This obligation does not apply if the supply involved is:

- zero-rated;

- made for no consideration;

- made by a taxable person that uses the Profit Margin Scheme.

Registered retailers may issue the “retail invoice”, if the customer is a taxable person and asks for a tax invoice, provided that the consideration is below €85,43.

Foreign enterprises doing business in Cyprus

If a trader is not resident in the Republic – in the case of a natural person or the legal person is based abroad – carries out a business in Cyprus and is liable or entitled to registration in the VAT Register of the Republic, the VAT officer may appoint a person who is resident in the Republic and is recommended by the trader, to act on behalf of the trader for VAT matters (a VAT representative) or require security for the protection of public revenue.

It should be noted that for persons resident in another member state or legal persons incorporated in another member state, there is no obligation to appoint a Vat representative.

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

ZERO-RATING OF INTRA-COMMUNITY SUPPLIES

Prior to 1st May 2004 all exports of goods to destinations outside Cyprus, qualified for the zero rate of VAT. This continues to be the case for exports to countries outside the EU. However, under the EU VAT arrangements, as from that date a Cypriot trader registered for VAT may zero-rate the supply of goods to a customer in another Member State (MS) provided that:

-The customer is registered for VAT in the other MS,

- The customer's VAT registration number is obtained and retained in the supplier's records,

- This number, together with the supplier's VAT registration number is quoted on the sales invoice,
- The goods are dispatched and transported to the other MS,

- The supplier retains appropriate commercial documentary evidence that the goods have been removed from Cyprus,

- The supplier submits the Recapitulative Statements to the VAT Service.

PURPOSE OF THE VIES SYSTEM

VIES (VAT Information Exchange System) contributes to the effectiveness of this new VAT regime and provides a mechanism for preventing and deterring of the abuse of the VAT zero-rating provisions on intra-community trade of goods and detecting unreported movements of zero-rated goods between MS. An integral part of the system is a requirement that each MS must store and process specific information which it collects from its traders about their supplies to other MS.

OBLIGATIONS OF TRADERS UNDER VIES

Under the EU and the national legislation regulating VIES, any VAT-registered person who supplies goods to a VAT-registered person in another MS has to submit the Recapitulative Statement declaring all the intra-community supplies made during a calendar quarter. The Statement must be submitted to the VAT Service until the tenth day of the second month following the calendar quarter to which the statement relates. If a person fails to comply, this person is liable to a penalty of fifty one euro (€51) for every month of non-compliance, the maximum being three months. Non-compliance that continues after the three months constitutes a criminal offense and a convicted person may incur an additional fine of up to two thousand five hundred sixty two euro (€2562).

Moreover, the relevant legislation provides that the submitted Recapitulative Statement should not be incomplete or contain inaccuracies, such as wrong VAT numbers of the customers in other MS. If a submitted Recapitulative Statement is incomplete or contains inaccuracies, the taxpayer should submit a corrective statement within two months following the calendar quarter to which the Recapitulative Statement relates. In opposite case, a penalty of fifty one euro (€51) is imposed.

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Legal basis

• The Customs and Excise Duties Law of 2003 no. 224(I) of 2002, Section 17.
• The Customs and Excise Duties (Relief on Imported Goods) Regulations of 2004, PI 380/04, Regulation 13.

The relief regime from import and excise duties for goods imported for use by offshore companies or their expatriate personnel has been terminated since 31 December 2003.

Motor vehicles under relief

In spite of the fact that the relief regime for offshore companies has been abolished, as mentioned earlier, entitled offshore personnel reserves the right to continue to possess a duty free vehicle which has been registered in their name prior to the 31st March 2003 in cases whereby they:

• change employment to another entitled offshore company;
• continue their employment in the same entitled company, which has extended its activities into Cyprus and has chosen to be taxed in accordance with the provisions of section 46 of the Income Tax Law, under the normal corporate tax rate;
• change employment to another company which was entitled to relief but has elected to be taxed in conformity with the provision of section 46 of the Income Tax Law, under the normal corporate tax rate.

In case of disposal of the vehicle, the provisions of Regulation 12 of the Customs and Excise Duties (Relief on Imported Goods) Regulations of 2004, PI 380/04, will apply

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Recently there have been amendments in 3 statutes namely the (1) Town and Country Planning (N.90/72), (2) the Streets and Buildings Regulation (Chapter 96), and (3) the Immovable Property (Chapter 224) (Tenure, Registration and Valuation) Laws (hereinafter collectively called “ the Planning Amnesty Amendments ”).

The Planning Amnesty Amendments came into force on 8.4.2011. Their aim is to simplify the procedures regarding the legalization of irregularities and ultimately the issue of updated title deeds.

For the first time a purchaser (apart from the registered owner) has the right to activate necessary procedures for the legalization of the development or for the issuing of title deeds. Where the registered owner seems to be reluctant or unwilling to unwilling to apply for a certificate of approval or to legalize the building, the Authorities are empowered to impose considerable administrative fines. It is advisable that the statements of intent or planning applications are submitted jointly by as many co-owners as possible.

Therefore an owner and/or purchaser of immovable property unit with irregularities and no separate title deed may:

1. Apply directly for the issue of separate title deed, without prior legalization of the irregularities. This means that the title deed shall be subject to the said irregularities, if any, or

2. Apply for the legalization of the irregularities prior to the issue of title deed. With this way there will be no irregularities registered on the title deed.

A fixed three-year period, expiring on 7.4.2014 , is defined, for the submission of applications making use of the Planning Amnesty Amendments. However if a purchaser wishes to legalize irregularities, he/she must submit a Statement of Intent the latest by 7.10.2011

Issue of Title Deed (without prior legalization)

The legality of the building is no longer a prerequisite for the issuing of an updated title deed. Thus title deeds can be issued, despite any building irregularities, provided that an application is submitted to the Building Authority, together with an accurate description of the building as well as any irregularities that may appear, in comparison to the building or the planning permit issued.

Following the said application the Building Authority shall issue:

1) a certificate of approval (in case the building was constructed in accordance with issued permits) or

2) a noted certificate of approval (where the deviations shall be described) or

3) a certificate of unauthorized operations (in case of substantial irregularities in relation to the permit)

The Building Authority may issue a certificate of approval, even if a planning permit or a building permit has expired. The certificate of approval has the effect of a building permit.

The Building Authority shall send all the relevant information to the Land and Surveys Department in order to obtain a title deed with or without notes or with prohibition of transfer and burden.

It should be noted that the updated title deeds are issued in the name of the original owner, and not in the name of the purchasers. The Authorities involved in the procedure do not have the power to transfer property rights to purchasers, without the owner´s consent. However, it is of crucial importance, that separate title deeds are issued for individual units of a larger development, as this facilitates significantly the purchaser to invoke the right of specific performance of the contract of sale, through action taken in the Courts, against the vendor. The transfer of property to purchasers is performed by the registered owner, either voluntarily, or by an Order of the Court, issued at the request of the purchaser.

Legalization of Irregularities (prior to issue of title deed)

If a purchaser wishes to legalize any irregularities, he/she must submit to the ministry of interior a 2-page Statement of Intent the latest by 7.10.2011 . The said Statement contains general information that is necessary so as to ensure that the irregularities existed on April 8, 2011, and is attested by an affidavit provided by a qualified person, member of the Scientific and Technical Chamber of Cyprus (ETEK).

It is strongly recommended that each owner to submit the said notice prior to the above deadline, even if at this stage he/she is not certain whether the irregularities satisfy the conditions of the Planning Amnesty Amendments. The said statement is the KEY for an owner/purchaser to proceed later on with an application to legalize the irregularities (this does not apply to persons submitting, directly, an application for planning permit (instead of a statement of intent) to the Planning Authority until October 7, 2011, or those who have already submitted an application to the Building Authority for a certificate of approval and have not yet been informed of the Authority's decision).

The Planning Amnesty Amendments enable the legalization of only specific type, nature, scale and significance irregularities on existing buildings under certain conditions, the most important of which is the existence of a relevant planning permit and/ or building permit for the development, even if the planning permit and/ or building permit have expired.

The scale and significance of the irregularities that can be legalised are defined by the provisions of the law. Not any irregularity, irrespective of its scale, can be legalised. In cases of irregularities of a very severe nature, the Building Authority is empowered to issue a certificate of unauthorized works, requiring the Department of Lands and Surveys to register a note on the title, prohibiting the transfer of the property to another person.

For example the provisions of the law can apply where there is an increase of the approved plot ratio (of the building or the individual unit) up to 30% of the approved covered area, of which only 10% could be allocated outside the approved shell of the building, differences in the approved general layout of the development etc. In such cases compensation levy will be imposed on the owner or purchaser, which will be equivalent to the market value of the area in excess. These values will be determined on the basis of general estimates carried out by the Department of Land and Surveys, which will be published by an Order of the Minister of the Interior. A 20% discount on the compensation levy is set for all applications submitted within the first year period, and a 10% discount for applications submitted within the second year of the implementation of the provisions of the law.

http://www.pirilides.com/en/cyprus/practices/property-law/10 - Cyprus Property Law

The project for the implementation of the new Ayia Napa Marina is expected to start in approximately 1-2 years from today. Soon, the consortium which has won the contest for the construction of the project, will engage into discussions with the Government of Cyprus for the signing of the final agreements. Upon signing of these agreements, the plans will have to be deposited which will demonstrate exactly what developments will be included in the Project ie yacht berths, construction of villas, houses and other buildings such as restaurants, etc.

Bank guarantees will be required by the Government so that the government can secure the fact that that companies which will undertake to implement the project have the necessary liquidity. As stated by the Mayor of Ayia Napa, 'the Ayia Napa marina will positively affect this part of Cyprus and that Cyprus will be positively affected and will enjoy multiple benefits since the project will optimize the economic life of the Famagusta area, since new job positions will be opened and will be available and tourism development will be further enhanced'.

Another important project for the area of Ayia Napa is the creation of the Ayia Napa Forest Golf, planned to be implemented in the northern eastern part of Ayia Napa. The Golf course will not however contain a residential area. This project will stretch in 430 acres of land. The piece of land has been granted by the government for this development.

The project is expected to finish in 1-2 years approximately. The fact that there is not going to be any residential development of the land, means that the area will be wholly reserved and used for sports and also, time-consuming procedures for approval of planning permits and other bureaucratic procedures are automatically overcome. In the golf course, there will only be some cafeterias, and probably changing rooms for the athletes.

http://www.multilysis.com/

Banks Operating in Cyprus

A. BANKS INCORPORATED IN CYPRUS

1. BANKS LISTED ON THE CYPRUS STOCK EXCHANGE

1. Bank of Cyprus Public Company Ltd
2. Marfin Popular Bank Public Co Ltd
3. Hellenic Bank Public Company Limited
4. USB Bank Plc

2. SUBSIDIARIES OF FOREIGN BANKS

1. Αlpha Bank Cyprus Ltd
2. BNP Paribas Cyprus Ltd
3. Emporiki Bank – Cyprus Limited
4. National Bank of Greece (Cyprus) Ltd
5. Russian Commercial Bank (Cyprus) Ltd
6. Societe Generale Bank-Cyprus Limited
7. Piraeus Bank (Cyprus) Ltd
8. Eurobank EFG Cyprus Ltd

3. OTHER BANKS

1. Co-operative Central Bank Ltd
2. The Cyprus Development Bank Public Company Limited
3. Housing Finance Corporation

Β. BRANCHES OF FOREIGN BANKS

1. BRANCHES OF BANKS OF EUROPEAN UNION COUNTRIES

1. Barclays Bank PLC
2. Banque SBA SA
3. First Investment Bank Ltd
4. Joint Stock Company “Trasta Komercbanka”
5. National Bank of Greece SA
6. Central Cooperative Bank PLC
7. Banca Transilvania SA
8. Joint Stock Company Akciju Komercbanka “Baltikums”
9. AS LTB Bank

2. BRANCHES OF BANKS OF COUNTRIES OTHER THAN EUROPEAN UNION

1. BankMed sal
2. Arab Jordan Investment Bank SA
3. BANQUE BEMO SAL
4. Bank of Beirut SAL
5. BBAC SAL
6. BLOM Bank SAL
7. Byblos Bank SAL
8. Credit Libanais SAL
9. FBME Bank Ltd
10. Open joint-stock company AvtoVAZbank
11. OJSC Promsvyazbank
12. Jordan Kuwait Bank PLC
13. Jordan Ahli Bank plc
14. Lebanon and Gulf Bank SAL
15. Privatbank Commercial Bank
16. IBL Bank sal

C. REPRESENTATIVE OFFICES

Atlasmont Banka AD

Economic growth is usually associated with technological changes, changes which aim in minimizing costs and maximizing profits. Even if, the aforesaid proposition seems to be the norm, Cyprus enjoys both the privilege and the grace to attract investors and financiers who are able to appreciate the potential economic dynamics of the Cyprus economy. Cyprus has the privilege to be acknowledged as a respectable member of the International Real Estate Federation (“FIABCI”) which links thousands of real estate professionals worldwide from every discipline in the industry having as a major objective the eradication of borders between nations and the amplification of investments which will surely add to what many have named as “economic expansion”.

In May 2011 Cyprus had the opportunity to be the host of the FIABCI conference which was successfully held in Pafos. What became apparent and of course delighting, was the high interest to invest in the Cyprus market by foreign investors. Analysing the above proposition it seems obvious that one of the reasons that an investment might seem attractive in Cyprus is the high quality of legal and accounting services that can become available to any potential investor. In addition, the low tax rates compared with the Russian tax rates and the agility that is provided by the Cyprus legal system can be regarded as the main reason of attraction by foreign, especially Russian investors.

In immediate aftermath of the FIABCI conference many Russian investors stayed for about a week in Pafos and performed a detailed economic analysis on the subjects analysed in the FIABCI conference. This can be also translated as a strategic movement by those investors aiming in identifying there next project. Moreover according to the Dinos Michaillides, the Cypriot President of FIABCI department in Cyprus, many multi-million projects are under consideration and due to commence within the near future.

This is also supported by the leading man in FIABCI Alexander Romanenco who has stated that he expects a big Russian wave of investment in Cyprus as Cyprus is currently regarded as having the dynamics to gear profits and create prosperity both to the local market but also to an investor who is willing and ready to invest within the solid economy of Cyprus .

Angelos Onisiforou

http://www.multilysis.com/

Karayiannas Developers in Cyprus , Christoforos Karayiannas & Son Ltd construct Cyprus property, apartments, bungalows and in Frenaros, Ayia Napa, Vrysoulles and Paralimni.

Karayiannas Developeres in Cyprus Sotira Lake villas in the Famagusta district of Cyprus – video by Karayiannas Developers in ParalimniCyprus. Cyprus property – Karayiannas developers are producing videos about Cyprus. Karayiannas property developers are Cyprus property developers with offices in Paralimni located in the Famagusta district of Cyprus. As Cyprus developers we develop all types of property in Cyprus. Find out more about

Karayiannas Developers in Cyprus, Christoforos Karayiannas & Son Ltd construct Cyprus property, apartments, bungalows and in Frenaros, Ayia Napa, Vrysoulles and Paralimni. -

Karayiannas Cyprus Paralimni Properties - Paralimni video by Karayiannas Developers – Paralimni is a popular destination in Cyprus, it is close to Ayia Napa and Protaras in the Famagusta district of Cyprus Karayiannas Developers are based in Paralimni.Cyprus property – Karayiannas developers are producing videos about Cyprus. Karayiannas property developers are Cyprus property developers with offices in Paralimni located in the Famagusta district of Cyprus. As Cyprus developers we develop all types of property in Cyprus. Find out more about us:- www.karayiannas.com.cy And our Blog www.karayiannas.co.uk King Menelaous Project – www.karayiannashome.com Stone Meadows – www.karayiannas.net Alonia Villas Project – www.karayiannas.com Villa Anna Project – www.karayiannas.biz Andriani Gardens Project – www.karayiannas-andrianigardens.com and www.karayiannas.info www.karayiannasprotaras.co.uk Long Video

10 June 2011

Tomorrow the 10 ^th June, the Special Olympics flame will arrive in Pafos.

Castle square in Kato Pafos at 20:00

11-13 June 2011

Kataklysmos

Fifty days after Easter is Kataklysmos, which is otherwise known as the Festival of the Flood, or the Water Festival. This religious public holiday sees a three day celebration at all of the major coastal towns across the island, with the promenades taking on the appearance of an open-air fair, with countless stalls selling toys and traditional Cypriot food. The celebrations will include folk dancing, singing, games, swimming competitions, boat races, and just generally throwing water at each other. A great way to stay cool in the Cyprus sun!

It is the day of the Holy Spirit, which celebrates the descent of the Holy Ghost to the Apostles. In Cyprus, the celebrations also relate back to the Old Testament tale of Noah's Ark (the Greek myth of Deukalion) and ancient ceremonies in honour of Aphrodite and Adonis.

The Cyprus Government provides new incentives to third-country nationals for investing in Cyprus. These incentives gained popularity in the last three years as around 30 foreign nationals were granted permit/s or nationality, amongst them some of the richest people in the world.

The main ways in which this can take place are as follows:

a. By obtaining an Immigration Permit

Equivalent to a permanent residency permit and can be granted, by the Minister of the Interior provided that the applicant/s has a clean criminal record and an insured annual income of approximately €30.000 (per couple) wholly generated abroad and not from employment or self employment in Cyprus, to people from third countries who invest in privately owned residence in Cyprus of a value not less than EUR 300,000 for ownership occupancy.

b. By obtaining a Cypriot Passport/Nationality

Approval must be obtained from the Council of Ministers for providing nationality in special cases. Although each case is considered on its own merit, there is some criteria which needs to be met when considering such applications, ie The applicant must be over the age of 30 years, have a clean criminal record and must have a permanent home in Cyprus and of course travel to the island often. These conditions must be satisfied when a third country individual applies for Cypriot nationality.

In addition to the above, the applicant must satisfy one of the following conditions:

a. Must have business activities, with a total annual turnover of not less than €85m., in the year prior to the year of application – (eg companies registered in Cyprus)

OR

b. Must have direct investments of at least €30m.

OR

c. A combination of business activities and direct investments of at least €25m.

OR

d. Must be able to prove that he has introduced new technology in vital sectors of the

Cypriot economy or research centres

OR

e. The applicant must have a personal 5 year deposit in a Bank in Cyprus amounting to

at least €17m.

Even if the figures stated above for points a to e are not fully achieved, if the potential investor has the 'correct' profile and commits himself to a considerable and respectful investment in the island, there is a good chance to be considered eligible to obtain a passport.

Read more

http://www.pirilides.com/en/cyprus/practices/acquisition-of-immovable-property/10

Visit justincyprus.com and read more about Rent To Buy Property in Cyprus.

Did you know? Cyprus offers some of the best beach destinations, according to a survey released April 5 by TripAdvisor. Cyprus took two of the three top beach destinations in the survey, including the top one! The winners were based on the most highly rated beach destinations by millions of international travelers in TripAdvisor reviews.

Did you know? Cyprus offers an incredible amount of 54 blue flag beaches for such a small island (648 Km of coastline).
In comparison, Bulgaria only was awarded 10 blue flag beaches, Malta only 2, Morocco 20, Norway 5 and Tunisia 8.
Cyprus in fact is in the top 5 countries worldwide with the highest ratio of Blue Flag beaches per km of coastline.

Did you know? Archeologists discovered that ancient civilizations produced perfumes or fragrant oils, while the oldest relics in this sense have about 4,000 years. The perfumes bottles were found in Pyrgos, Cyprus.