• November 6, 2024
• Polina Polycarpou

The last few years have been tough for the UK economy, which has faced unprecedented shocks from the legacy of the COVID-19 pandemic, an energy price spike driven by the war in Ukraine, and globally high inflation.

Consequently, the UK government has announced a series of measures including the abolition of the non-dom regime from 6 April 2025. The current rules for the taxation of non-UK domiciled individuals will come to an end. As a result, the concept of domicile as a relevant connecting factor in the UK tax system will be replaced by a system based on tax residence.

• December 4, 2024

The sports industry in today’s modern age has evolved into a highly commercialized and competitive business, offering sports clubs the opportunity to generate immense profits year after year. As a result, it is essential for clubs to invest not only in the club’s success in its respective league but also in their brand development which can attract more fans and generate increased revenue. One of the key ways to achieve this, in addition to the implementation of marketing strategies, is through intellectual property protection.

This Article provides a quick overview on a few key areas where sports clubs may safeguard their intellectual property to maximise their brand value and commercial potential. Note that this is a non-exhaustive list.

• February 19, 2025
• Stephanos Ayiomamitis

In a recent case before the Supreme Court of Cyprus, the complexities and potential risks of property transactions were brought to light. The Supreme Court rejected an application by an affected property buyer seeking permission to file legal questions before it. The buyer’s claims stemmed from the Court of Appeal’s decision to uphold the District Court’s ruling that the Land Registry has no obligation to inform a buyer, upon the filing of a sale contract, about prior sale contracts that may already exist for the property in question.

• December 12, 2024
• Chrystalla Philippou

Cyprus corporate law allows the re-domiciliation of companies registered in different jurisdictions. Re-domiciliation allows the transfer of a company from one jurisdiction to another. The company will not be liquidated to the jurisdiction of incorporation, it will be transferred from one country to another through a straightforward procedure, according to which the company’s solvency is not affected.

Below you will find a brief description of the procedure for the transfer of the office of private companies solely.  Regarding the transfer of public companies, further requirements apply.

• January 8, 2025
• Lefteris Eleftheriou

The Common Reporting Standard (CRS) is a global information gathering and reporting mechanism developed by the Organisation for Economic Co-Operation and Development (OECD), and requires the automatic exchange of financial accounts information between tax authorities of the participating country members. The CRS aims to combat tax evasion and promote transparency on an international scale. The Republic of Cyprus is a participating member of the CRS since 2014.

The Law on Administrative Cooperation in the Field of Taxation (Law 205(I) of 2012) Article 22C and the Law on the Assessment and Collection of Taxes (No. 4/1978) Article 27, as amended, empower the Tax Commissioner to request and obtain information from individuals or entities in order to verify compliance with tax reporting obligations.