Full-Service Law Firm in Nicosia, Cyprus
Stelios Americanos & Co LLC
Office 601, 6th Floor
Nicosia 1080
Cyprus
Stelios Americanos & Co LLC Overview
Stelios Americanos & Co LLC is a full services, highly innovative law firm with headquarters based in Nicosia, Cyprus and a branch in Athens, Greece. It specializes in corporate, commercial and banking law, (focusing mainly on transboundary banking financing, joint ventures, mergers and
Stelios Americanos & Co LLC Areas of Law
- Business Law
- Banking & Finance
- Business Formation
- Commercial Law
- Consumer Law
- Criminal Defense
- Employment
- Family Law
- Government
- Administrative Law
- Immigration
- International Law
- International Arbitration
- Litigation
- Arbitration
- Business Litigation
- Civil Litigation
- Real Estate
- Construction Law
- Landlord & Tenant Law
Articles Published by Stelios Americanos & Co LLC
Cyprus: Business Trends & Legal Uncertainties for NFTs
The future of NFTs seems bright and promising. NFTs are evolving into an asset class that, at its core, serves as the world’s greatest digital evidence of ownership. As NFTs grow, their role as digital proofs of ownership will provide innovative and lucrative use cases for future digital economies. While digital art and collectibles presently dominate the realm of non-fungible tokens, this is just the tip of an enormous iceberg
Read ArticleCyprus Introduces Transfer Pricing Rules and Documentation Requirements
On 30 June 2022, the Cyprus Parliament enacted amendments to the Income Tax Law and the Assessment and Collection of Taxes Law in relation to transfer pricing regulations in accordance with recommendations of the Organisation for Economic Co-operation and Development on Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (OECD TP Guidelines). The laws will be effective as of 1 January 2022 and once published in the official Gazette. As per the amended Law, the new TP rules apply to transactions between related parties (legal persons and individuals). For corporate entities, the new law provides detailed rules as to the meaning of the term “related parties” in an effort to capture different relations that there is a “control” situation.
Read ArticleCryptoassets & Banking: A Cyprus Law Perspective
The banking sector is showing an incremental appreciation of the use of cryptoassets and their correlation with banks’ traditional retail functions. The existing legal framework is maturing to the regulation of cryptoassets, allowing for the effective supervision of such digital assets, based on national and European laws and guidelines.
Read ArticlePermanent Residency in Cyprus
Cyprus is a small EU member state country but the third largest Island in the Mediterranean Sea with a population almost one million. Whereas Greek is the official language, English is widely spoken and the language in which business is generally conducted.
Read ArticleNew 50% and 20% Income Tax Exemption on Employment Income to Attract Foreign Investors and Employees to Cyprus
On 26 July 2022, the new amended articles 8(21) and 8(23) of the Income Tax Law were published in the Gazette aiming to attract foreign investors and high-profile foreign employees. Similarly with the 20% exemption, it is not required for the individual to become a Cyprus tax resident to benefit from the new 50% exemption, nor for the employer to be a Cyprus tax resident employer.
Read ArticleGreen Funds: Business Trends & Regulatory Developments
A growing number and class of investors is shifting towards sustainable and ESG-compliant markets and products. Environmental and social considerations are assuming a growing importance, with the EU focusing its efforts to the greening of the economies of its Member States.
Read ArticleThe Increased Interest of Israeli Investors in the Cypriot Residential Real Estate Market
The last few years have been extremely challenging and unstable for the World Economy. Covid-19 had a major impact on the markets, costs and investments. Cyprus, of course, was no exception and with specific reference to the residential real estate market, the sudden abolishing of the “Citizenship by Investment Program”, according to which the acquisition of residential properties could entitle the purchasers to a Cypriot Passport, just added fuel to fury.
Read ArticleNew Rules for Foreigners as to Employment & Residence in Cyprus
New conditions regarding nationals of the third countries who have the right to be employed or reside in Cyprus, when they are investors or self-employed or even employees
Read ArticleAppointment of a Provisional Liquidator Pending a Winding up Petition of a Company in Cyprus
The appointment of a provisional liquidator to a Company could be considered as a decisive and very serious development to the operation of the Company. That’s why if there is an alternative way to anticipate the risk of alienation of assets throughout the issuance of a discovery order or a freezing order, the appointment of a provisional liquidator will not be preferred by the Courts.
Read ArticleCyprus Government Approves Tax Incentives to Attract Talent and Promote Headquartering
Staff relocating to Cyprus earning more than €55,000 will benefit from a 50% tax exemption on their salary.
Read ArticleCyprus: Crypto & Asset Tokenization Regulatory Developments
DR. CHARIS SAVVIDES, Partner at Stelios Americanos & Co LLC, addressed most of the trending questions with regard to Regulatory Updates on the Cryptocurrency and Asset Tokenization space in a detailed Q&A Session.
Read ArticleThe Cyprus Regulatory Sandbox by CySEC
CySEC’s call for views The Cyprus Securities and Exchange Commission has launched a call for views on establishing a Regulatory Sandbox. The Call and accompanying Press Release were circulated on 16th March 2022 on CySEC’s Website (the “Call”) and invites stakeholders across the financial services industry to provide their own feedback on establishing a Regulatory Sandbox for the promotion of innovation in the industry. The Call refers to and concerns regulated entities, Financial Technology (FinTech), Regulatory Technology RegTech) companies, their professional associations from Cyprus or abroad and in general, any interested party with views as to the merits of establishing a Regulatory Sandbox, its scope and its testing process.
Read ArticleDigitalization in Cyprus: Opportunities, Challenges and the Legal Sector
There is an ongoing race at the national and international, regulatory and private sector levels, to take advantage of the increasing demands for digitalization and acquire a first mover advantage in those sectors where digitalization is having the most impact. The heavily digitally-influenced reality that many countries and industries have had to rapidly adapt to, has provided an opportunity for Cyprus to distinguish itself as an innovation-friendly jurisdiction and set the groundwork for fostering new technologies and market trends connected to the digital space.
Read ArticleImportant Tax Amendments Cyprus Companies Tax Residency
On 9 December 2021, the Cyprus Parliament approved the expansion of the definition of corporate tax residency for Cyprus companies to additionally include the incorporation test. As per current law a Cyprus company is considered as Cyprus tax resident if the management and control is exercised in Cyprus. With, the new law, and the introduction of the incorporation test, if a Cyprus company is not managed and controlled in Cyprus and is not tax resident of another country it will be considered as tax resident of Cyprus as it was incorporated in Cyprus. This will apply from 31 December 2022. Withholding tax payments of dividends, interest and royalties from Cyprus companies to companies resident or registered in jurisdictions included in the EU list of non-cooperative jurisdictions on tax matters
Read ArticleCyprus: Asset Tokenization
Asset tokenization constitutes a relatively new process. Yet, it has been receiving increasing levels of attention across several jurisdictions, with positive indications as to its ability to revolutionize the way different assets are held, traded and used.
Read ArticleCyprus Permanent Residency Programme – 3rd Revision – Expedited Procedure
Pursuant to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the Minister of Interior has decided to revise the current permanent residency programme (the “Programme”) to include additional investment criteria other than investment in real estate with the purpose of attracting foreign investors and their families to invest in Cyprus.
Read ArticleFast Track Business Activation Program in Cyprus
The new program provides for the possibility of employing a higher number of third country nationals of specific professions and/or skills, without a prior labour market test and aims to further attract foreign business to Cyprus as well as to provide fast and efficient services to foreign business wishing to establish presence in Cyprus.
Read ArticleCrypto-Asset Service Providers Cyprus SEC’s June Directive
In late June, the Cyprus Securities Exchange Commission (the “CySEC”) issued its new directive on the prevention and suppression of money laundering activities, which specifically focuses on crypto-asset service providers (the “CASPs”) and their duty to register with the CySEC.
Read ArticleCyprus New Business Attraction Strategy, for High Technology, Shipping, Innovation and R & D
The Government presented the new strategy for attracting skilled workforce and companies in Cyprus on Friday 15 October 2021. This new strategy is mainly focused on high technology, shipping, innovation, and research and development. The new strategy includes a series of incentives concerning residency, taxation, employment and simplification and digitization of the current procedures. The scheme will come into force on the 1st of January 2022.
Read ArticleCyprus: An Update on The Central Register of UBO(s)
Globally, it has been highlighted the importance and the need for extended transparency, in business and corporate entities, to combat money laundering, terrorist financing, and more generally, the abuse of the financial systems by criminals.
Read ArticleRejection of Applications and Revocation of Cyprus Citizenship - The Legal Challenges of the Administration
The Cyprus Investment Program seemed problematic from the beginning and even the amendments could not save and protect the abuse of the Program. The Cyprus Government decided to terminate the Program with final submission date the 30th of October 2020 after amending the Law regulating the Citizenship by Investment Program. The new policy of the Government let to many rejections of new applications and initiated many revocation procedure for investors who had already received the Cypriot passport.
Read ArticleCOVID-19 and Contractual Obligations (Force Majeure & the Doctrine of Frustration in Cyprus Law)
The recent outbreak of Covid-19, which the World Health Organisation classified as a pandemic, has brought to the fore significant issues for businesses. The disease has a profound impact on the performance of businesses and their underlying contractual relationships.
Read ArticleCyprus Investment Firm (CIF)
A Cyprus Investment Firm (CIF) is one of the most useful tools in the European Union (and Internationally) if you intend to provide and perform investment services and activities either within Cyprus or abroad on a professional basis on certain financial instruments.
Read ArticleCyprus New Limitation of Actions Law
It is common amongst common law jurisdictions to have laws that prescribe the maximum time after an event that legal proceedings based on that event may be instigated. This is called a statute of limitation of actions.
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