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Newsletter October 2017

VAT of 19% will be imposed on land sales in Cyprus A VAT charge of 19% will be imposed on all commercial land sales in Cyprus from the 1st January 2018. According to the circular issued by the Cyprus Tax Department it is confirmed that no VAT will be imposed on the purchase or sale of land located in livestock zones and in non-development areas, zones/areas of environmental protection, archaeological, rural, etc. The Cyprus Citizenship Investment Scheme A new improved Cyprus investment scheme came into force on the 1st of November 2016. The most important changes of the revised Scheme are the abolishment of the provision for collective investment of €12 million which is being replaced by an individual investment of €2 million and the purchase of a residence worth at least €500,000. The new scheme has also abolished the ability to apply for the citizenship through bank deposits worth €5 million, through impaired deposits due to the measures implemented after the 15th March 2013 and through the purchase of bonds worth €2,5 million, which were applicable to the previous scheme. Please feel free to visit our website for more information on the revised Cyprus Citizenship Investment Scheme at www.ca-advocates.com Caribbean Citizenship programs Our Law Firm is in a position, through its reliable agent in the Caribbean, to assist clients proceed with an application to participate in the financial citizenship program of Saint Kitts and Nevis, Grenada, Antigua and Dominica. Some interesting factors about the Caribbean Citizenship programs are outlined below: * There is currently no mandatory interview requirement for the Dominican Citizenship by Investment Program; however an interview may be required at the discretion of the government. ** Non-Resident Citizens that have not resided in their home countries for a minimum of at least 8+ years are considered on a case by case basis. *** Professional fees do not include client\’s documentation translation and legalization with notary and apostil. Please feel free to visit our website at www.ca-advocates.com for more information on the above mentioned programs. First Legal 500 Ranking for CA Advocates Our law firm has successfully qualified to receive a Legal 500 ranking for the first time, under the category of Cyprus: Commercial, Corporate and M&A. The Legal 500 rankings result from an independent review of researchers forming a special purpose committee by collecting feedback from 250,000 in-house peers and by obtaining access to law firms\’ deals and confidential matters, which are subsequently, independently assessed by the said researchers. The only way a law firm can get into the Legal 500 ranking tables and commentary is on merit and it is not possible for a firm to buy its way into the editorial. More relevant information can be found at http://www.legal500.com/c/cyprus/commercial-corporate-and-manda. As per the editorial of the Legal 500 publication which is based on clients’ comments, \”CA Advocates (Pourgoura & Aspri LLC) delivers ‘high quality and clear advice’. Alexia Aspri and Celia Pourgoura are ‘very professional’. The team ‘manages to meet extremely tight deadlines in a cost-effective way’.\” More information about the firm and its services may be obtained through its website at http://www.ca-advocates.com Offshorewealth Blog We would like to introduce the leading corporate blog of offshore industry in Russia and CIS countries – OffshoreWealth.info. Offshorewealth.info – is a reliable source of information that helps entrepreneurs and high net worth individuals to create and successfully develop their international and online businesses, using the latest technology and protection schemes for their capital honestly earned abroad. The blog contains a number of articles about offshore jurisdictions and other international jurisdictions with the most favorable tax regime, i.e. Nevis, Panama, Cyprus, the British Virgin Islands, Hong Kong, Singapore, Andorra, Latvia, etc. The authors of the blog are numerous offshore industry professionals who work closely with Offshorewealth.info and actively participate frequently in seminars on tax mitigation, business structuring, opportunities on acquisition of economic citizenship and other important topics. We can carry on talking about Offshorewealth.info and what it has to offer, but the best way to get acquainted with the most advanced and relevant blog of offshore industry available in the Russian language is to visit it – at www.offshorewealth.info. Seeing once is better than hearing twice!      

Newsletter September 2017

Limassol Del Mar, a milestone project for Cyprus After the sale of the luxury apartments in buildings A and B reached its peak, Limassol Del Mar has launched further apartments in the tallest building in the development, consisting of 27 floors. Pre-launch of new apartments has already begun, with sales already achieved. The newly launched apartments will offer elite specifications and premium materials throughout. The very best views of Limassol’s glorious coastline feature within every apartment too. Please read more at www.ca-advocates.com Cypriot Passport ranked 12th worldwide The Cypriot passport has scored a passport rank of 12 worldwide, in the list of the Global Passport Power Rank featuring in the Power Index 2017. You may read more on the subject at: https://www.passportindex.org/byRank.php. An investor may obtain a Cyprus citizenship by making an investment of a minimum of €2 million and the purchase of a residence worth at least €500,000. Please feel free to visit our website for more information on the revised Cyprus Citizenship Investment Scheme at www.ca-advocates.com. The Cyprus Citizenship Investment Scheme A new improved Cyprus investment scheme came into force on the 1st of November 2016. The most important changes of the revised Scheme are the abolishment of the provision for collective investment of €12 million which is being replaced by an individual investment of €2 million and the purchase of a residence worth at least €500,000. The new scheme has also abolished the ability to apply for the citizenship through bank deposits worth €5 million, through impaired deposits due to the measures implemented after the 15th March 2013 and through the purchase of bonds worth €2,5 million, which were applicable to the previous scheme. Please feel free to visit our website for more information on the revised Cyprus Citizenship Investment Scheme at www.ca-advocates.com Caribbean Citizenship programs Our Law Firm is in a position, through its reliable agent in the Caribbean, to assist clients proceed with an application to participate in the financial citizenship program of Saint Kitts and Nevis, Grenada, Antigua and Dominica. Some interesting factors about the Caribbean Citizenship programs are outlined below: * There is currently no mandatory interview requirement for the Dominican Citizenship by Investment Program; however an interview may be required at the discretion of the government. ** Non-Resident Citizens that have not resided in their home countries for a minimum of at least 8+ years are considered on a case by case basis. *** Professional fees do not include client\’s documentation translation and legalization with notary and apostil. Please feel free to visit our website at www.ca-advocates.com for more information on the above mentioned programs. First Legal 500 Ranking for CA Advocates Our law firm has successfully qualified to receive a Legal 500 ranking for the first time, under the category of Cyprus: Commercial, Corporate and M&A. The Legal 500 rankings result from an independent review of researchers forming a special purpose committee by collecting feedback from 250,000 in-house peers and by obtaining access to law firms\’ deals and confidential matters, which are subsequently, independently assessed by the said researchers. The only way a law firm can get into the Legal 500 ranking tables and commentary is on merit and it is not possible for a firm to buy its way into the editorial. More relevant information can be found at http://www.legal500.com/c/cyprus/commercial-corporate-and-manda. As per the editorial of the Legal 500 publication which is based on clients’ comments, \”CA Advocates (Pourgoura & Aspri LLC) delivers ‘high quality and clear advice’. Alexia Aspri and Celia Pourgoura are ‘very professional’. The team ‘manages to meet extremely tight deadlines in a cost-effective way’.\” More information about the firm and its services may be obtained through its website at http://www.ca-advocates.com Offshorewealth Blog We would like to introduce the leading corporate blog of offshore industry in Russia and CIS countries – OffshoreWealth.info. Offshorewealth.info – is a reliable source of information that helps entrepreneurs and high net worth individuals to create and successfully develop their international and online businesses, using the latest technology and protection schemes for their capital honestly earned abroad. The blog contains a number of articles about offshore jurisdictions and other international jurisdictions with the most favorable tax regime, i.e. Nevis, Panama, Cyprus, the British Virgin Islands, Hong Kong, Singapore, Andorra, Latvia, etc. The authors of the blog are numerous offshore industry professionals who work closely with Offshorewealth.info and actively participate frequently in seminars on tax mitigation, business structuring, opportunities on acquisition of economic citizenship and other important topics. We can carry on talking about Offshorewealth.info and what it has to offer, but the best way to get acquainted with the most advanced and relevant blog of offshore industry available in the Russian language is to visit it – at www.offshorewealth.info. Seeing once is better than hearing twice!      

Newsletter August 2017

80 Leading Law Firms in Cyprus We are proud to announce that our law firm is listed by the Gold Magazine as one of the 80 leading law firms in Cyprus. The Cyprus Bar Association maintains over 3,000 registered members, many of whom work in more than 220 law firms across the whole island. Since 2011, every year GOLD Magazine has been compiling and updating its list of the leading law firms in Cyprus. For more information please visit http://www.goldnews.com.cy/en/companies/gold-magazine–80-leading-law-firms-in-cyprus. 2nd English – Cypriot Law Day The Cyprus Bar Association will be organizing an English – Cypriot Law Day in collaboration with the Bar Council of England and Wales, on the 8th of September 2017 at Columbia Plaza in Limassol. Our director Mrs. Celia Pougoura, Barrister at Law, will be participating in the Forum as a speaker. For more information about the conference please visit http://www.cyprusbarassociation.org. Our Law Firm will be Gold Sponsor of the 1st National Forum on the Rights of the Child Our Law Firm will be sponsoring the 1st National Forum on the Rights of the Child, which will take place on the 21st September 2017 in Nicosia. For more information about the Agenda of the Forum and registration process please feel free to visit http://forum.uncrcpc.org. Caribbean Citizenship programs Our Law Firm is in a position, through its reliable agent in the Caribbean, to assist clients proceed with an application to participate in the financial citizenship program of Saint Kitts and Nevis, Grenada, Antigua and Dominica. Some interesting factors about the Caribbean Citizenship programs are outlined below: * There is currently no mandatory interview requirement for the Dominican Citizenship by Investment Program; however an interview may be required at the discretion of the government. ** Non-Resident Citizens that have not resided in their home countries for a minimum of at least 8+ years are considered on a case by case basis. *** Professional fees do not include client\’s documentation translation and legalization with notary and apostil. Please feel free to visit our website at www.ca-advocates.com for more information on the above mentioned programs. First Legal 500 Ranking for CA Advocates Our law firm has successfully qualified to receive a Legal 500 ranking for the first time, under the category of Cyprus: Commercial, Corporate and M&A. The Legal 500 rankings result from an independent review of researchers forming a special purpose committee by collecting feedback from 250,000 in-house peers and by obtaining access to law firms\’ deals and confidential matters, which are subsequently, independently assessed by the said researchers. The only way a law firm can get into the Legal 500 ranking tables and commentary is on merit and it is not possible for a firm to buy its way into the editorial. More relevant information can be found at http://www.legal500.com/c/cyprus/commercial-corporate-and-manda. As per the editorial of the Legal 500 publication which is based on clients’ comments, \”CA Advocates (Pourgoura & Aspri LLC) delivers ‘high quality and clear advice’. Alexia Aspri and Celia Pourgoura are ‘very professional’. The team ‘manages to meet extremely tight deadlines in a cost-effective way’.\” More information about the firm and its services may be obtained through its website at http://www.ca-advocates.com Offshorewealth Blog We would like to introduce the leading corporate blog of offshore industry in Russia and CIS countries – OffshoreWealth.info. Offshorewealth.info – is a reliable source of information that helps entrepreneurs and high net worth individuals to create and successfully develop their international and online businesses, using the latest technology and protection schemes for their capital honestly earned abroad. The blog contains a number of articles about offshore jurisdictions and other international jurisdictions with the most favorable tax regime, i.e. Nevis, Panama, Cyprus, the British Virgin Islands, Hong Kong, Singapore, Andorra, Latvia, etc. The authors of the blog are numerous offshore industry professionals who work closely with Offshorewealth.info and actively participate frequently in seminars on tax mitigation, business structuring, opportunities on acquisition of economic citizenship and other important topics. We can carry on talking about Offshorewealth.info and what it has to offer, but the best way to get acquainted with the most advanced and relevant blog of offshore industry available in the Russian language is to visit it – at www.offshorewealth.info. Seeing once is better than hearing twice!