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Oct 16, 2024 | 
lexology.com | Angelos Paphitis
A key reason why many individuals and corporations choose to establish a Cyprus International Trust is the potential for significant tax benefits... IntroductionIn an increasingly interconnected world, individuals and businesses are continuously seeking ways to protect, manage, and grow their assets across borders. One of the most effective and time-tested mechanisms for achieving these goals is the establishment of a trust.
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Oct 9, 2024 | 
mondaq.com | Angelos Paphitis
In recent years, Dubai has emerged as a global hub for
businesses, investors, and high-net-worth individuals seeking
strategic locations for wealth management, asset protection, and
philanthropy.
Among the various legal structures available in Dubai,
foundations have gained significant traction due to their
flexibility, privacy, and favorable regulatory environment.
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Oct 8, 2024 | 
mondaq.com | Angelos Paphitis
This group included 83,800 individuals, marking a rise in the
number of taxpayers but a slight decrease in tax liabilities from
the previous year.
The number of individuals claiming non-domiciled status
increased to 74,000, primarily driven by new arrivals after
pandemic-related restrictions eased. Newly arrived non-doms
increased by 18%, and total tax revenue from this group reached its
highest level since 2017.
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Oct 6, 2024 | 
lexology.com | Angelos Paphitis
"The ‘knowledgeable’ Angelos Paphitis is known for his ‘deep, thorough and constructive’ approach", Legal 500 EMEA, 2015; and "it seems like nothing is impossible for him", Legal 500 EMEA 2019.
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Sep 5, 2024 | 
lexology.com | Angelos Paphitis
...by adhering to best practices and leveraging the benefits of CITs, you can safeguard your assets and achieve your financial and estate planning goals effectively. Avoid Risking Sham Trusts and a Guide on Cyprus International TrustsEstablishing a trust is a strategy for managing and protecting assets. However, the concept of a “sham trust” can undermine this goal, posing significant legal and financial risks.
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Sep 3, 2024 | 
lexology.com | Angelos Paphitis |Michael Davies
The CJEU’s ruling reinforces the EU’s commitment to fostering transparency and accountability in tax matters through DAC6. On July 29, 2024, the Court of Justice of the European Union (CJEU) upheld the validity of the Council Directive (EU) 2018/822, commonly known as DAC6, which mandates the reporting of potentially aggressive cross-border tax arrangements.
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Aug 26, 2024 | 
mondaq.com | Angelos Paphitis
Ex-parte injunctions are a critical component of the
legal practice in Cyprus, often sought in urgent situations where
immediate court intervention is necessary to prevent irreparable
harm.
These injunctions are typically applied for without notice, i.e.
without the presence of the opposing party (ex-parte), relying
heavily on the applicant's presentation of urgency and the
merits of their case.
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Aug 21, 2024 | 
lexology.com | Angelos Paphitis
Applicants must be diligent and timely in their actions to avoid the pitfalls of “fictitious” delay and ensure their applications are considered on their merits. Ex-parte injunctions are a critical component of the legal practice in Cyprus, often sought in urgent situations where immediate court intervention is necessary to prevent irreparable harm.
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Jul 2, 2024 | 
lexology.com | Angelos Paphitis |Myrianthi Papagianni
Key provisions include rules on company structure, shareholder rights, and the approval processes for mergers and acquisitions. Mergers and acquisitions (M&As) are complex transactions that require proper planning, strategic execution, and comprehensive legal support. In Cyprus, the legal landscape for M&As is robust, grounded in a framework that supports both local and cross-border transactions.
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May 28, 2024 | 
mondaq.com | Angelos Paphitis
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AGP Law | A.G. Paphitis & Co. LLC
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Established in 2006, AGP & Co is a highly reputable, dynamic, award winning and excellence driven Law Firm based in Cyprus with a strong international presence. It provides full service Legal, Corporate, FS Advisory & Regulatory Compliance/AML, Tax, Immigration and Real Estate services.
Starting a business is an exciting venture, but it comes with numerous legal considerations.
