Claim for Damages filed with the General Court of the European Union on behalf of 720 Cyprus Depositors
We are pleased to announce to our clients that on 12/3/2018 we processed and filed with the General Court of the European Union the application for damages in relation to the haircut of deposits. The applicants will be notified of any further procedure or steps, through the Association of Depositors (SYKALA).
Το Δικηγορικό Γραφείο LLPO Law Firm – Αγγελίδης, Ιωαννίδης, Λεωνίδου Δ.Ε.Π.Ε., είναι στην ευχάριστη θέση να ανακοινώσει οτι ο εκ των ιδρυτικών συνεταίρων του, κ. Σάββας Αγγελίδης αναλαμβάνει τα καθήκοντα του Υπουργού Άμυνας της Κυπριακής Δημοκρατίας την 1/3/2018. Την διοίκηση του Τμήματος Δικαστηρίου αναλαμβάνει ο εκ των ιδρυτικών συνεταίρων κ. Χρίστος Ιωαννίδης.
#funds #alternativefunds #aif #moi
A new type of a registered alternative investment fund will be introduced by CySeC in Cyprus. This new category of "registered" funds will be available for funds marketed to professional or well informed investors.
The main characteristic of registered alternative investment funds is that they will not be directly authorized or directly supervised by CySeC but only registered in a central registry. Instead, registered funds will be operated by their investment manager and the investment manager authorized by CySeC will be directly responsible for their operation.
Such registered funds are customarily used for a fast route establishment, minimum thresholds of supervision and sometimes the assumption of riskier investment positions. The structure is expected to be used extensively by hedge funds or other alternative structures.
For more information check Alternative Funds (AIF) or contact Michael O. Ioannides.
#cypruspassports #cypruscitizenship #moi #map
On the 13th of September 2016 the Cyprus Government approved the new regime for granting Cypriot - European citizenship for foreign investors.
The new regime is the more competitive Citizenship programme in Europe and it is expected to attract an increase of citizenship applications. The regime provides for the reduction of the required investment to €2.000.000, includes participation in Alternative Investment Funds as a class of approved investments and shortens the time for approval to 3 months.
Investment Requirement and Approved Classes for Investment
The main requirement for acquiring European - Cypriot Citizenship is the investment of €2.000.000 in any of the following classes of investments in Cyprus:
The applicant is required to have a permanent privately-owned residence in the Republic of Cyprus, the value of which must exceed the amount of €500,000 at current prices (plus VAT).
Clean Criminal Record
The applicant must have a clean criminal record from the country of origin and the country of residence (if different). Furthermore, his/her name must not be included on the list of persons whose assets are frozen within the boundaries of the European Union.
It is estimated that a period of 3 months is needed for the approval of the application and the issuance of Cypriot - European Passport.
LLPO Law Firm provides a turnkey solution to its clients to acquire Cypriot - European Citizenship by Investment. For further information please check EU Investor Passports or contact Michael O. Ioannides or Maria Panayiotou
#cypruslottery #gaming #coi #aleo
Vlaemminck & Partners BV BVBA operating under the brand name of PharumLegal and Angelides, Ioannides Leonidou LLC - LLPO Law Firm, (acting as the legal experts of the KPMG Ltd led advisory team, also including, QLot Consulting AB and J&E Davy Holdings Limited) have been selected by the Ministry of Finance of Cyprus and the Republic’s Privatization Unit as the retained consultants of the Cyprus Government for the provision of professional services regarding the private sector participation in the National Lottery.
Pharumlegal and LLPO Law Firm will offer their legal services to:
(a) provide a legal analysis of the lottery market in Cyprus and the relevant trends in the global gaming market,
(b) identify, analyse and present the private sector participation options and respective legal structures regarding the National Lottery,
(c) assess and adequately develop Cyprus’ existing legislative and regulatory framework pertaining to the lottery activities and any relevant impending legislation and draft/ prepare/ amend all necessary underlying laws and regulations and secure their enactment,
(d) manage all legal aspects of the Project from design, initiation, preparation, execution and management up to the financial close of the Transaction
About PharumLegal - Vlaemminck & Partners BV BVBA (www.pharumlegal.eu)
Pharumlegal, is a leading law firm, with its headquarters located in Brussels, Belgium, specialising in the lottery industry and a key contributor to the relevant EU and national gaming legislations. The lawyers of the firm have been advising governments, regulators and operators all over Europe for the past 30 years, and have been involved in every gambling case at the Court of Justice of the EU since 1994.
About LLPO Law Firm - Angelides, Ioannides, Leonidou LLC (www.llpolawfirm.com)
LLPO Law Firm is a leading law firm, with its headquarters located in Nicosia, Cyprus, practicing in all major areas of commercial and financial services law, providing amongst other services legislative and regulatory compliance services and advice on commercial law, lotteries, gambling and gaming, intellectual property, corporate and company law.
For more information contact Christos O. Ioannides or Andreas N. Leonidou.
#caif #funds #financialservices #moi #aleo
As regional and domestic markets continue to expand and fuel economic growth, the funds industry of Cyprus is taking a frontline the global investment environment. In particular more and more investors and managers are choosing Cyprus as their prefered jurisdiction for the establishment and administration of their Alternative Investment Funds.
The Benefits of an Alternative Investment Fund in Cyprus is that it offers a range of legal, regulatory and tax solutions to address and meet the needs of AIF promoters and investors alike. Services such as setup and acquisition structuring, fund administration, legal, custody and audit are provided in a wide and customized range, and at competitive costs in comparison to other reputable funds jurisdictions. Cyprus has enacted strict Anti-Money Laundering Regulations, in line with EU and international standards.
There are no specific provisions or special modes of taxation in Cyprus tax law regarding AIFs. Therefore, provided an AIF is structured in the form of a private limited liability company, and its management and control is exercised in Cyprus, it is taxed in the same way as a Cyprus tax resident company. All of the advantages afforded by the Cyprus tax regime will fully apply to the AIF regime.
The below are the main tax advantages enjoyed by an AIF in Cyprus:
One of LLPO Law Firm’s partners, Mr. Christos Ioannides, will be presenting at Financial Crime & Forensic Investigations Conference at Hilton Park Hotel in Nicosia, on Tuesday 1st December 2015. Christos will be hosting the subject 'Defence Strategies in Financial Crime Prosecution'.
His presentation will be concentrated on the following topics:
Christos Ioannides is a criminal lawyer and together with Savvas Angelides - Head of Criminal Department, are leading LLPO’s criminal defence team. LLPO is currently defending clients in all the major corruption cases in Cyprus.
The first Financial Crime & Forensic Investigations Conference in Cyprus is offering the opportunity to find out more about new forms of white collar crimes, corporate ethics and independence, and methods for combating/ preventing financial crime. Presentations will be provided by a selection of high profile industry experts and professionals from both Cyprus and abroad.
Some other guest speakers at the event will be:
Financial Crime & Forensic Investigations Conference 2015 Brochure.
For more information please contact Mr Savvas Angelides and Mr Christos Ioannides,- Partners of LLPO Law Firm Cyprus
The investment management sector is developing rapidly on the island as it has become one of the most appealing countries to start up and manage financial services. With the entrance of Cyprus in the EU in 2004, it has opened many business doors as well as the influence of the CIFs which have successfully set up and operate efficiently. The Cyprus Securities and Exchange Commission (CySEC) licensed nearly 200 CIFs to date.
This adds up to a continuous interest in setting up and operating CIFs in Cyprus as it offers an attractive tax regime. There are lots of reasons why the access of the European Securities Markets is becoming increasingly tempting. Other than providing liquidity and access to a diverse pool of investors, European listings provide companies with the appropriate status for further European and international expansion.
LLPO Law Firm can assist by incorporating the entity to be licensed, as well as the preparation of various documents, the submission of the application, following up the process and the promotion of your application with Cyprus Securities and Exchange Commission and the activation of the license by submission to the regulatory authorities.
For more information on this subject please contact Mr. Michalis Ioannides - Partner LLPO Law Firm Cyprus
Nominated Advisor (NOMAD) is a law firm or a financial institution or a Cyprus Investment Firm (CIF) or an audit firm or another legal entity appointed by the Council of the Cyprus Stock Exchange as a Nominated Advisor for the Emerging Companies Market of the Cyprus Stock Exchange which manages and promotes the listing of securities on the Emerging Companies Market and whose name is entered in a special list of Nominated Advisors published by the Cyprus Stock Exchange.
The major role of the NOMAD is to ensure that the issuer/company is appropriate to be quoted on the Emerging Companies Markets (ECM) and to assure that the rules and regulations are complied with on flotation. The NOMAD must be retained at all terms to consult the issuer/company. A short sum up, the NOMAD represent the issuer through the listing procedure and provide advice to the issuer in respect of the compliance of the continuous obligations in the market.
Listing your company in the Cypriot ECM can offer major benefits as it can be associated with being part of such an efficient run market, as well as the general advantages of being listed, such as marketability and credibility. There is an additional advantage for companies with international interest; (depending on the jurisdiction) they can be safeguarded from the application of CFC rules.
LLPO Law firm is CSE approved NOMAD since 2009. It has a actively reputation for its experience in listing companies in the Cyprus Stock Exchange Market. LLPO’s NOMAD role include:
For more information on this subject please contact Mr. Michael Ioannides - Partner LLPO Law Firm Cyprus
#caif #funds #financialservices #moi #aleo
The Alternative Investments Funds Law of 2014 was enacted by the House of Representatives on 10th July 2014 and came into force on 18th July 2014. The new law replaces the International Collective Investment Schemes Law (ICIS) of 1999.
Under the applicable Cypriot legislation, namely the AIF Law, the Cyprus Securities and Exchange Commission (“CySEC”) is the regulatory and supervisory authority for AIFs and may, upon a written application, recognise a FIxed or Variable Capital Company, a Common Fund or a Partnership as a AIF.
Main characteristics of the AIF Law
The new AIF Law introduces new structuring options which were not possible under the previous framework, such as:
For more information on this subject please check Alternative Funds (AIF) contact Mr. Michalis Ioannides - Partner LLPO Law Firm Cyprus