A G Paphitis & Co


AGP Law Firm | A.G. Paphitis & Co. LLC is a full-service and multi-awarded International Law Firm, based in Cyprus, providing legal, corporate, regulatory and tax services. Clients from all over the world, including private individuals and international and multinational corporations, major banks, multi-million and multi-billion groups and foundations, rely on AGP experts, consisted of lawyers, business consultants and financial advisors for tailor-made and clear advice helping them to succeed in their objectives.  We are proud of AGP's dedicated and brilliant people who make it possible for you to succeed in your endeavours, whatever these are from private matters to large business imperatives. 

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Intellectual Property

Significant amendments introduced to Trademarks Law
Cyprus | 05 October 2020

In June 2020 the Trademarks Law Cap 268 (as amended) was published in the Official Gazette, implementing the EU Trademarks Directive into Cypriot law. The new directive aims to accommodate the modern business environment by standardising the rules applicable in EU member states in order to facilitate transnational company activities, improve cooperation among trademark offices and support anti-counterfeiting.

Private Client & Offshore Services

Employing a holding company as a family investment company: how does it compare to a family trust?
Cyprus | 04 March 2021

Given the strengthening of the rules on corporate tax avoidance, individuals must consider better estate protection strategies and undertake legitimate tax and tax avoidance planning. Family trusts are deeply embedded in estate planning, but the Cyprus holding company may also be utilised as a family investment company as an alternative to a family trust. The question of which one to opt for depends on individual family circumstances, objectives and investment strategies.

Does Cyprus law allow wills to be signed electronically?
Cyprus | 12 November 2020

The outbreak of COVID-19 and continuation of social distancing measures have brought to light a variety of issues concerning the signing and execution of wills. Consequently, the legal world has had to resort to digital means in order to sign such documents. One of the key digital means is the use of electronic signatures instead of handwritten or wet-ink signatures.

Individual investment in Cyprus during COVID-19 pandemic
Cyprus | 11 June 2020

While the COVID-19 pandemic has caused global economic turmoil, Cyprus is also facing challenges owing to the global interconnectedness of its economy. However, the government is working closely with the Cyprus Investment Promotion Agency to support the revival of the economy and has taken measures to protect the value of individual investments during this economic crisis.

Benefits of Cyprus international trust regime
Cyprus | 27 February 2020

The Cyprus International Trusts Law is one of the world's most attractive legal frameworks, as it builds on the well-established English principles of equity and trusts. Under this framework, Cyprus international trusts can be created in most complex situations and enjoy many advantages that cannot be found in aggregate in other trust jurisdictions.

Recent changes to inheritance and succession law
Cyprus | 19 September 2019

Cyprus has a complicated system of forced heirship in which a portion of a deceased's estate must be effectively passed to surviving family members according to a set system of inheritance. This forced heirship regime means that even if a deceased writes a will leaving a certain portion of their estate as gift to their spouse, their wishes will be deemed invalid if there are natural children who are entitled to a fixed minimum percentage of the estate.

Tax benefits for foreign nationals
Cyprus | 18 July 2019

Cyprus offers a number of tax incentives to high-net-worth individuals. For example, foreign nationals who earn €100,000 per annum from employment in Cyprus are eligible for a 50% tax exemption on their income irrespective of the status of their tax residency or domicile. Further, Cyprus is party to more than 65 tax treaties, which allows it to charge zero or minimal withholding tax rates on incomes such as pensions, royalties, dividends and interest received from abroad.

Estate and gift taxes in Cyprus – planning is needed
Cyprus | 07 March 2019

When property interests are given away during life or at death, taxes are imposed on their transfer. Such taxes are known as estate and gift taxes. The simplicity of Cyprus's tax system, especially with regard to estate and gift taxes, is one of the major attractions for the many high-net-worth individuals and companies that choose Cyprus as their place of business or residence.

Central Bank circular revises definition of 'shell companies': impact on offshore entities
Cyprus | 29 November 2018

The Central Bank of Cyprus recently issued a circular which clarifies dubious and vague information regarding shell companies and entities in Cyprus and advises banks and service providers on how to deal with them. As Cyprus remains an attractive jurisdiction for registering offshore entities, the circular's revised definition of 'shell companies' will assist banks when opening accounts for international businesses and corporate service providers.

Establishing international trusts for children
Cyprus | 18 October 2018

Typically, a parent's main concern is being able to pay for their children's education and ensuring the best start for them when they grow up and want to purchase property or launch their own business. One way to accomplish these goals is to set up a Cyprus investment trust (CIT), which allows a trustee to manage its assets for the good of the beneficiaries. Setting up a CIT for children is easy and allows parents to tailor a trust to fit their unique circumstances.

Taxation of Cyprus international trusts
Cyprus | 15 March 2018

Cyprus international trusts, which are subject to the International Trusts (Amendment) Law 1992, provide a significant number of tax advantages and can be used as part of an international tax planning strategy. In order to estimate the tax that should be imposed on a trust, its specifications, purpose and any other relevant circumstances must be considered.

Private investments in Cyprus – a bright future
Cyprus | 14 December 2017

Cyprus saw its highest increase in gross domestic product in almost a decade in the first quarter of 2017. The dark days of the 2013 financial crisis appear to be in the past and foreign investment remains at the heart of government strategy, aided by factors such as the citizenship-by-investment programme, which will help to attract private investment in the property, retail and pharmaceutical sectors.

Tax residency can be obtained by staying in Cyprus for 60 days a year
Cyprus | 07 September 2017

Foreign tax residents in Cyprus are exempt from taxation on their worldwide dividend and passive interest income. Parliament recently approved a bill granting tax resident status to individuals who spend at least 60 days a year in Cyprus, under certain conditions. Individuals who do not qualify as Cyprus tax residents under the 183-day rule now have the opportunity to consider the 60-day rule, which took effect on January 1 2017.

Cyprus international trusts – an overview
Cyprus | 06 July 2017

Cyprus international trusts (CITs), also known as Cyprus offshore trusts, are regulated by the International Trusts Law, which complements the Trustees Law. CITs provide multiple benefits – such as anonymity, asset protection, flexibility and taxation incentives and benefits – which high-net-worth individuals around the world can use within the framework of their tax planning and investment strategies.

Cyprus offers tax exemption on worldwide income
Cyprus | 01 June 2017

In order to provide high-net-worth individuals with additional incentives to relocate to Cyprus or continue conducting their business operations or investments in Cyprus, the government introduced non-domicile rules for the purposes of the Special Defence Contribution Tax Law. As a result, an individual may be resident, but not domiciled, in Cyprus. Tax residents who are not domiciled in Cyprus are exempted from the special defence contribution tax.