Magnumserve Group of Companies was founded on the principles of providing a new platform for the international financial industry by offering a full spectrum of consulting and administrative services. Profile

We have all the expertise you require to place investments globally and we ensure that our clients will receive the high quality, responsive service required to meet their international financial needs. Services

PUBLICATIONS

  • 15 Sep 2020

    BILATERAL AGREEMENT BETWEEN CYPRUS AND THE UNITED STATES

    CYPRUS: BILATERAL AGREEMENT BETWEEN CYPRUS AND THE UNITED STATES The Cyprus Tax Department announced... Read More
  • 23 Jun 2020

    Corporate Measures undertaken by the government in response to COVID-19

    Cyprus: Corporate Measures undertaken by the government in response to COVID-19 As part of the measu... Read More
  • 17 Jun 2020

    What will happen to Cyprus Russia Double Tax Treaty?

    Cyprus -Russia. Cyprus Double Tax Treaty What will happen to Cyprus Russia Double Tax Treaty? A rath... Read More
  • 5 Feb 2020

    Security for the Loan. Fixed and Floating Charges under Cyprus Law

    Security for the Loan. Fixed and Floating Charges under Cyprus Law. Charges under Cyprus law, can be... Read More
  • 24 Jan 2020

    Double Tax Treaty between Cyprus and Republic of Kazakhstan

    Double Tax Treaty between Cyprus and Republic of Kazakhstan On May 30th, 2018, the successful final... Read More
  • 19 Nov 2019

    Cyprus: New Double Tax Treaty between Cyprus and Egypt

    Cyprus: New Double Tax Treaty between Cyprus and Egypt On the 8th of October 2019, Cyprus and the Ar... Read More
  • 15 Nov 2019

    Cyprus: Duties and Liabilities of ‘’Nominee Directors’’

    Cyprus: Duties and Liabilities of ‘’Nominee Directors’’ The Law Commission in its Consultation Paper... Read More
  • 8 Oct 2019

    The 5th EU Anti-Money laundering Directive

    The 5th EU Anti-Money laundering Directive Money laundering, terrorism financing and organized crime... Read More
  • 29 Mar 2019

    Cyprus Tax Authorities introduce guidance for taxation of Intra-Group Financing Transactions

    Cyprus Tax Authorities introduce guidance for taxation of Intra-Group Financing Transactions. In Cyp... Read More
  • 13 Mar 2019

    Amendments to the Cyprus Investment Scheme

    Amendments to the Cyprus Investment Scheme Certain significant amendments have been made to the Cypr... Read More
  • 13 Dec 2018

    Cyprus Investment Program -Focus Investor’s Family Members-update May 2018

    Cyprus Investment Program -Focus Investor’s Family Members-update May 2018 Per Council of Minister’s... Read More
  • 10 Dec 2018

    Redomiciliation of Cyprus Companies to Other Countries

    CYPRUS: Redomiciliation of Cyprus Companies to Other Countries A Cyprus company, upon obtaining the... Read More
  • 27 Sep 2018

    Cyprus-UK- Double Taxation Convention- Update of the Treaty of 1974

    Cyprus - UK- Double Taxation Convention- Update of the Treaty of 1974 The Cyprus UK Double Taxation... Read More
  • 6 Sep 2018

    From Cypriot Citizenship by Investment Programme to Cypriot Investment Scheme

    From Cypriot Citizenship by Investment Programme to Cypriot Investment Scheme The system that has be... Read More
  • 27 Dec 2017

    THE EU LIST of non-cooperative tax jurisdictions

    THE EU LIST of non-cooperative tax jurisdictions During their meeting in Brussels on the 5th Decembe... Read More
  • 13 Dec 2017

    CYPRUS: VAT LAW AMENDMENT

    CYPRUS: VAT LAW AMENDMENT On the 3rd of November 2017 the Cypriot Parliament amended the VAT Law whi... Read More
  • 23 Nov 2017

    Cyprus: Tax residency amendment

    Cyprus: Tax residency amendment The Parliament of Cyprus has approved on the 14th of July 2017 a bil... Read More
  • 11 Oct 2017

    CYPRUS: Personal criminal liability when issuing a cheque on behalf of the company

    CYPRUS: Personal criminal liability when issuing a cheque on behalf of the company A bouncing cheque... Read More
  • 26 Sep 2017

    Cyprus: The Amendments to the Companies Law Cap 113

    Cyprus: The Amendments to the Companies Law Cap 113 The House of Representatives has approved the am... Read More
  • 19 Jul 2017

    CYPRUS - TAX UPDATE – TAX RESIDENCY RULES TO BE AMENDED

    CYPRUS - TAX UPDATE – TAX RESIDENCY RULES TO BE AMENDED On 14th July 2017, the Parliament of Cyprus... Read More
  • 7 Jun 2017

    The amended law on Specific Performance relating to Property Sales

    The amended law on Specific Performance relating to Property Sales Recently, the law of Specific Per... Read More
  • 15 May 2017

    Cyprus- Dispute Resolution – Commercial Court

    Cyprus- Dispute Resolution – Commercial Court Minister of Justice, Mr. Ionas Nicolaou and Members of... Read More
  • 25 Apr 2017

    Cyprus – Tax –Notional Interest Deduction (the “NID”) and Circular 2016/10

    Cyprus – Tax –Notional Interest Deduction (the “NID”) and Circular 2016/10 The NID rules have been i... Read More
  • 9 Feb 2017

    Cyprus – Tax-Immovable Property Tax Law

    Cyprus – Tax-Immovable Property Tax Law On 14 July 2016, the House of Representatives approved chang...
  • 24 Jan 2017

    Cyprus – Commercial Law - Promissory Notes

    Cyprus – Commercial Law - Promissory Notes A promissory note is an unconditional promise made in wri...
  • 7 Dec 2016

    Cyprus: The new EU Electronic Signature Regulation 910/2014/EU

    Cyprus: The new EU Electronic Signature Regulation 910/2014/EU The EU has adopted a new Regulation w...
  • 3 Nov 2016

    Convention between the Republic of Cyprus and Latvia

    Convention between the Republic of Cyprus and Latvia A Convention, for the avoidance of double taxat...
  • 14 Oct 2016

    Cyprus: European Court of Justice importance in ruling on the Cyprus haircut case

    Cyprus: European Court of Justice importance in ruling on the Cyprus haircut case Several citizens o...
  • 10 Oct 2016

    Cyprus- Health-NHS System

    Cyprus- Health-NHS System The Cabinet approved on Friday (7.10.2016) a draft bill, concerning the es...
  • 4 Oct 2016

    CYPRUS PRIVATISATION OF THE CSE

    CYPRUS PRIVATISATION OF THE CSE The Cyprus Privatisation Unit has announced a tender for the appoint...
  • 28 Sep 2016

    Cyprus: Implementation of the EU Regulation No. 655/2014

    Cyprus: Implementation of the EU Regulation No. 655/2014 The EU Regulation No. 655/2014 establishes...
  • 20 Sep 2016

    No interest to buy loans from BoC - CySec

    No interest to buy loans from BoC - CySec The head of Cyprus’s Securities and Exchange Commission (C...
  • 15 Sep 2016

    The Cabinet has approved on Tuesday (13.0916) the revised scheme for granting Cypriot citizenship to...

    The Cabinet has approved on Tuesday (13.0916) the revised scheme for granting Cypriot citizenship to...
  • 14 Sep 2016

    CYPRUS: ARBITRATION – ANTI-SUIT INJUNCTION ISSUED BY ARBITRATORS

    CYPRUS: ARBITRATION – ANTI-SUIT INJUNCTION ISSUED BY ARBITRATORS The European Court of Justice (‘ECJ...
  • 29 Aug 2016

    Cyprus:Announcement by the Department of Registrar of Companies and Official Receiver in relation to...

    Cyprus:Announcement by the Department of Registrar of Companies and Official Receiver in relation to...
  • 28 Jul 2016

    Cyprus: Clarification on Cross border Insolvency which may be applied by the Cypriot Courts

    Cyprus: Clarification on Cross border Insolvency which may be applied by the Cypriot Courts On the 2...
  • 4 Jul 2016

    Cyprus – Tax- Announcement of the Ministry of Finance of the Republic of Cyprus Convention for the A...

    Cyprus – Tax- Announcement of the Ministry of Finance of the Republic of Cyprus Convention for the A...
  • 29 Jun 2016

    CYPRUS: The Grand Chamber of the European Court of Justice to decide on the haircut of Cyprus

    CYPRUS: The Grand Chamber of the European Court of Justice to decide on the haircut of Cyprus In due...
  • 14 Jun 2016

    Enforcement of Judgments under the New Recast Regulation 1215/2012 and the issuance of protective me...

    Enforcement of Judgments under the New Recast Regulation 1215/2012 and the issuance of protective me...
  • 7 Jun 2016

    CIRCULAR OF THE UNIT FOR COMBATING MONEY LAUNDERING - "PANAMA PAPERS"

    CIRCULAR OF THE UNIT FOR COMBATING MONEY LAUNDERING PURSUANT TO THE ARTICLE 55(1)(D) OF THE PREVENTI...
  • 14 Apr 2016

    CYPRUS: JURISDICTION OF CYPRUS COURTS TO RECOGNISE AND ENFORCE FOREIGN JUDGMENTS AND FOREIGN ARBITRA...

    CYPRUS: JURISDICTION OF CYPRUS COURTS TO RECOGNISE AND ENFORCE FOREIGN JUDGMENTS AND FOREIGN ARBITRA...
  • 7 Apr 2016

    AGREEMENT BETWEEN THE REPUBLIC OF CYPRUS AND THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA

    AGREEMENT BETWEEN THE REPUBLIC OF CYPRUS AND THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA –on THE AVO...
  • 31 Mar 2016

    CYPRUS : English Court Guidance on Anti- suit Injunctions

    CYPRUS : English Court Guidance on Anti- suit Injunctions __________________________________________...
  • 24 Mar 2016

    Cyprus: Implementation of the Common Reporting Standard by the Republic of Cyprus

    Cyprus: Implementation of the Common Reporting Standard by the Republic of Cyprus The Organisation f...
  • 17 Mar 2016

    CYPRUS: English Court guidance on the wording of a Freezing Order

    CYPRUS: English Court guidance on the wording of a Freezing Order Recently the Supreme Court of the...
  • 9 Mar 2016

    CYPRUS : English Court Guidance on the liability of an agent – towards his principal for benefits an...

    CYPRUS : English Court Guidance on the liability of an agent – towards his principal for benefits an...
  • 2 Mar 2016

    CYPRUS: LEGAL PROFESSIONAL PRIVILEGE

    CYPRUS: LEGAL PROFESSIONAL PRIVILEGE In a recent case, the Supreme Court of Cyprus (single Judge), i...
  • 22 Feb 2016

    Cyprus: The strict approach of the provisions laid under the New York Convention on the enforcement...

    Cyprus: The strict approach of the provisions laid under the New York Convention on the enforcement...
  • 18 Feb 2016

    CYPRUS: LAW APPLICABLE TO CONTRACTUAL OBLIGATIONS – ROME I REGULATION

    CYPRUS: LAW APPLICABLE TO CONTRACTUAL OBLIGATIONS – ROME I REGULATION Since 17 December 2009, the EU...
  • 11 Feb 2016

    CYPRUS: An update of the European Criminal Records Information System

    CYPRUS: An update of the European Criminal Records Information System An efficient exchange of infor...
  • 4 Feb 2016

    CYPRUS: Enforcement of Foreign Arbitral awards under New York Convention

    CYPRUS: Enforcement of Foreign Arbitral awards under New York Convention ___________________________...
  • 29 Jan 2016

    CYPRUS : WARRANT OF SEARCH ISSUED AGAINST A LAWYER CANCELLED DUE TO VIOLATION OF LEGAL PROFESSIONAL...

    CYPRUS : WARRANT OF SEARCH ISSUED AGAINST A LAWYER CANCELLED DUE TO VIOLATION OF LEGAL PROFESSIONAL...
  • 15 Jan 2016

    CYPRUS: English guidance on the principle of legal advice privilege

    CYPRUS: English guidance on the principle of legal advice privilege A recent judgment handed by the...
  • 7 Jan 2016

    Cyprus: Guidance of Cyprus Courts on issue of appointment of Lawyers by the Directors of a Company

    Cyprus: Guidance of Cyprus Courts on issue of appointment of Lawyers by the Directors of a Company R...
  • 28 Dec 2015

    Cyprus: Guidance for Cyprus Courts on the duties owned by directors of a company to the shareholders

    Cyprus: Guidance for Cyprus Courts on the duties owned by directors of a company to the shareholders...
  • 22 Dec 2015

    Cyprus: Taxation – Amendments on the Double Tax Treaty between the Republic of Cyprus and Ukraine

    Cyprus: Taxation – Amendments on the Double Tax Treaty between the Republic of Cyprus and Ukraine Re...
  • 14 Dec 2015

    CYPRUS: Guidance by the Supreme Court of Cyprus on “mens rea” for bounced cheques

    CYPRUS: Guidance by the Supreme Court of Cyprus on “mens rea” for bounced cheques In October 2015 th...
  • 9 Dec 2015

    CYPRUS: Double Tax Treaty between Cyprus and Swiss Confederation

    CYPRUS: Double Tax Treaty between Cyprus and Swiss Confederation On 15th October 2015, the Double Ta...
  • 7 Dec 2015

    Cyprus: New Procedure for Issuing a Tax Residency Certificates

    Cyprus: New Procedure for Issuing a Tax Residency Certificates Tax Department, has recently issued a...
  • 27 Nov 2015

    CYPRUS: NO CAPITAL GAINS TAX FOR IMMOVABLE PROPERTIES PURCHASED UNTIL THE END OF THE YEAR 2016

    CYPRUS: NO CAPITAL GAINS TAX FOR IMMOVABLE PROPERTIES PURCHASED UNTIL THE END OF THE YEAR 2016 By a...
  • 23 Nov 2015

    Tied Agents

    Tied Agents A tied agent means a person established in a Member State, who, acting under the full an...
  • 20 Nov 2015

    Cyprus: Possible guidance from the English Courts on the Interpretation of jurisdiction clauses as “...

    Cyprus: Possible guidance from the English Courts on the Interpretation of jurisdiction clauses as “...
  • 18 Nov 2015

    CYPRUS: WINDING OF COMPANIES – WINDING UP BY THE COURT (COMPULSORY WINDING UP)-INABILITY OF THE COMP...

    CYPRUS: WINDING OF COMPANIES – WINDING UP BY THE COURT (COMPULSORY WINDING UP)-INABILITY OF THE COMP...
  • 30 Oct 2015

    Cyprus: A possible amendment in the Law of Social Insurance Debtors

    Cyprus: A possible amendment in the Law of Social Insurance Debtors In Cyprus over the last years ar...
  • 29 Oct 2015

    Cyprus: Will the proposed amendment in relation to the reduction of Judges in Family Courts solve th...

    Cyprus: Will the proposed amendment in relation to the reduction of Judges in Family Courts solve th...
  • 23 Oct 2015

    CYPRUS: SERVICE OF COURT DOCUMENTS UNDER REGULATION (EC) 1393/2007

    CYPRUS: SERVICE OF COURT DOCUMENTS UNDER REGULATION (EC) 1393/2007 In a case involving service of co...
  • 21 Oct 2015

    CYPRUS: APPOINTMENT OF RECEIVER IN AID OF EQUITABLE EXECUTION OF CYPRUS JUDGMENT

    CYPRUS: APPOINTMENT OF RECEIVER IN AID OF EQUITABLE EXECUTION OF CYPRUS JUDGMENT In a recent case ha...
  • 20 Oct 2015

    Cyprus : Supreme Court has ruled in favour of Speed and Efficacy in the spirit of judicial cooperati...

    Cyprus : Supreme Court has ruled in favour of Speed and Efficacy in the spirit of judicial cooperati...
  • 19 Oct 2015

    CYPRUS: Strengthening protection on money laundering by the Introduction of the Fourth Anti- Money L...

    CYPRUS: Strengthening protection on money laundering by the Introduction of the Fourth Anti- Money L...
  • 13 Oct 2015

    The International Court of Arbitration of the International Chamber of Commerce to communicate reaso...

    The International Court of Arbitration of the International Chamber of Commerce to communicate reaso...
  • 5 Oct 2015

    A fight against corruption by the proposed introduction of Criminal Record Certificates for Companie...

    A fight against corruption by the proposed introduction of Criminal Record Certificates for Companie...
  • 30 Sep 2015

    THE EXAMINERSHIP - Amendments to the Cyprus Legislation

    THE EXAMINERSHIP - Amendments to the Cyprus Legislation The Companies Law, Cap.113 as amended by the...
  • 23 Sep 2015

    CYPRUS TAX. AMENDMENTS EXPECTED TO ARRIVE IN AUTUMN 2015.

    CYPRUS TAX. AMENDMENTS EXPECTED TO ARRIVE IN AUTUMN 2015. A. Income Tax Treatment of Forex It is pro...
  • 10 Sep 2015

    Changes to the Inheritance process under European Succession Regulation 650/2012

    Changes to the Inheritance process under European Succession Regulation 650/2012 The growing importa...
  • 9 Sep 2015

    Renewal and Amendment of the Double Taxation Treaty between Cyprus and Ukraine

    Renewal and Amendment of the Double Taxation Treaty between Cyprus and Ukraine _____________________...
  • 1 Sep 2015

    ACTIVATION OF A CIF AUTHORISATION

    ACTIVATION OF A CIF AUTHORISATION According to Cyprus Securities and Exchange Commission’s (“CySEC”)...
  • 1 Sep 2015

    RECENT DEVELOPMENTS IN CYPRUS DTT NETWORK

    RECENT DEVELOPMENTS IN CYPRUS DTT NETWORK Cyprus- Bahrain (DTT signed in March 2015) In pursuit of s...
  • 1 Sep 2015

    CYPRUS INVESTMENT FIRMS (CIFs)

    CYPRUS INVESTMENT FIRMS (CIFs) The Cyprus Investment Firms Law 144(I)/2007 provides the legal framew...
  • 19 Aug 2015

    The establishment of a New Administrative Court in Nicosia, Cyprus

    The establishment of a New Administrative Court in Nicosia, Cyprus The legislative body of the Repub...
  • 6 Aug 2015

    The Approval of a Bill relating to the Sale of Loans

    The Approval of a Bill relating to the Sale of Loans A bill under the name “Lawregulating the activi...
  • 23 Jul 2015

    Recent Amendments to Cyprus Tax Regime

    Recent Amendments to Cyprus Tax Regime On the 9th July 2015, Cyprus Parliament passed number of new...
  • 20 Jul 2015

    Cyprus - Immovable Property

    Cyprus –Immovable Property ‘Parliament to submit law addressing the issue of Title Deeds and Hidden...
  • 17 Jul 2015

    Deoffshorization Law in Russia and possible solutions for the CFCs in Cyprus

    Deoffshorization Law in Russia and possible solutions for the CFCs in Cyprus The Federal Law No 376-...
  • 16 Jul 2015

    The Law amending the Companies Law CAP 113 N.4 [89(I) /2015] and collectively (the ‘Law’) came into...

    The Law amending the Companies Law CAP 113 N.4 [89(I) /2015] and collectively (the ‘Law’) came into...
  • 8 May 2015

    Other Listings

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  • 23 Oct 2014

    NOTE ON SHORT/LONG RESIDENCY AND NATURALISATION OF INVERSTORS

    NOTE ON SHORT/LONG RESIDENCY AND NATURALISATION OF INVERSTORS I. TEMPORARY RESIDENCE PERMIT- Uniform...
  • 23 Oct 2014

    WHERE DOES MANAGMENT AND CONROL LIE?

    WHERE DOES MANAGMENT AND CONROL LIE? This short note is dedicated to the test of residency in Cyprus...
  • 25 Jul 2014

    ASSET PROTECTION & CYPRUS INTERNATIONAL TRUSTS

    ASSET PROTECTION & CYPRUS INTERNATIONAL TRUSTS A. WHAT DOES ASSET PROTECTION MEAN?Asset protection i...
  • 30 Jul 2013

    The Duties of Directors of a Cyprus Company

    Directors exercise extensive powers in the management of their companies, influencing their company’...
  • 30 Jul 2013

    Shareholder's Agreement - Benefits and Advantages

    What is a Shareholder’s Agreement? A Shareholder’s Agreement is distinct from the company’s constitu...
  • 30 Jul 2013

    Mutual Funds in Cyprus: Open Ended (UCITS) and Closed ended (ICIS)

    The OPEN-ENDED FUNDS or OPEN-ENDED UNDERTAKINGS FOR COLLECTIVE INVESTMENT IN TRANSFERABLE SECURITY (...
  • 30 Jul 2013

    Memorandum on International Collective Investment Schemes in Cyprus

    OPEN-ENDED UNDERTAKINGS FOR COLLECTIVE INVESTMENT IN TRANSFERABLE SECURITIES (“UCITS”) 1.1 UCITS The...
  • 30 Jul 2013

    Intra Group Loans (back-to back loans) through Cyprus

    Cyprus Companies are in wide use as major vehicles in international tax structuring mainly due to th...
  • 30 Jul 2013

    Cyprus: An Ideal Place for Direct Investment

    I. INTRODUCTION Cyprus is an ideal place for direct investments, because of inter alia, its strategi...
  • 30 Jul 2013

    Cyprus Holding Company

    PREFACE This brief guide has been prepared to provide a general background to the legal framework re...
  • 30 Jul 2013

    Cyprus Company's Constitutions, Shareholders Agreements and Pontential Conflicts

    I. INTRODUCTION The use of a large number of Cypriot Companies as vehicles for carrying out joint ve...
  • 30 Jul 2013

    Cyprus and Ukraine sign a new bilateral tax agreement for the avoidance of double taxation

    Cyprus and Ukraine sign a new bilateral tax agreement for the avoidance of double taxation and the p...
  • 30 Jul 2013

    Cross - Border Initial Public Offerings (IPOs) and Admission of Shares of Cyprus Companies on other...

    Cyprus has for the past years successfully attracted foreign investment by tax effective holding com...
  • 30 Jul 2013

    Assets Protection & Cyprus Internetional Trust

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  • 30 Jul 2013

    Agreement for the Avoidance of Double Taxation between Cyprus and Slovenia

    A new Double Taxation Agreement has been added to the wide network of double taxation treaties which...
  • 30 Jul 2013

    Agreement for the Avoidance of Double Taxation between Cyprus and Kuwait.

    A new Double Taxation Agreement has been added to the wide network of double taxation treaties which...

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SOTERIS PITTAS & CO LLC with MAGNUMSERVE Group of Companies has been serving the needs of discerning international clients for many years. It was founded on the principles of providing a new platform for the international financial industry by offering a full spectrum of consulting and administrative services.
 
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