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Новый закон о НДС на Недвижимость для проживания

Новый закон вступил в силу с 1-го октября 2011 года, он позволяет владельцам недвижимости на Кипре оплачивать не более 5% от стоимости их недвижимости до тех пор, пока, владелец будет использовать недвижимость для проживания в ней.  Это несомненно позитивное мероприятие, было реализовано новым министром мистером Казамиасом и поддержано Правительством. Основные параметры нового закона изложены так же в письме департамента НДС датированном 7-ым октября, Кипр был более чем готов к хорошим новостям относительно рынка недвижимости.

ПРИМЕЧАНИЕ: В примечаниях ясно описано, что в случае если любая недвижимость была куплена до 1 октября 2011 года, она не подпадает под действие этого закона. Дополнительные примечания ясно излагают необходимые требования для заявителей для получения одобрения.

  1. Заявителю должно быть более 18 лет
  2. Резидент ЕС или Кипра
  3. Заявитель должен/а использовать недвижимость только в целях проживания.
  4. Заявление на планирование должно быть зарегистрировано после 1/5/2004
  5. Площадь недвижимости не должна быть более 275 кв. м. и 5%НДС распространяется на первые 200 кв. м.
  6. Есть так же специальные условия для вспомогательных (технических) помещений, кладовых, крытых парковочных мест, и крытых веранд.
  7. Для семей состоящих более чем из 6 человек (минимум 4 детей) 275 кв. м. будут увеличены на 15 кв. м. на каждого члена семьи после 3-го ребенка. Таким образом, для семьи в которой четверо детей, норма (275 кв.м.) будет увеличена на 15 кв. м.

Ожидаются так же следующие ограничения:

  1. Заявители должны будут владеть собственностью минимум в течение 10 лет.
  2. В случае, если заявители продадут или освободят недвижимость до истечения 10 лет, им необходимо будет вернуть определенную сумму властям.

Для подачи заявления необходимы следующие документы:

  • Разрешение на планирование
  • Договор купли-продажи
  • Подтверждение оплаты по договору – чеки оплаты и т.д.
  • Подтверждение архитектором площади недвижимости в квадратных метрах.
  • Копия Идентификационной карты(Паспорта) и многие другие данные и документы.

The applications must be made and delivered and or posted to the VAT offices in each district.   Finally the applicants must prove within six months from the delivery of the property that he/she is really a full resident of the property, using utility bills.

Заявления должны быть доставлены в Департамент НДС в соответствующем районе. Заявитель в течение шести месяцев после получения недвижимости должен доказать свое проживание в ней используя счета за электроэнергию.

Пожалуйста, обращайтесь к нам за дополнительной информацией

A&G Kouzali Law Office

169, 1st April Ave, P.O. Box 34328

Paralimni, Cyprus.

Tel: 00357 28811788/23811787

Fax: 00357 23711789

Skype: agkouzalilawoffice

Email: lawfirm@cytanet.com.cy

The Race Is On And The Bids Are Ready For Culture Capital 2017 Property Lawyers In Cyprus Say We Are All Winners

Lawyers in Cyprus – review – European Culture capital 2017

Culture Capital 2017 seems far away but if you haven’t noticed time is whizzing by and it will soon come around and when it does Cyprus will be bussing with people from all over the world.

Paphos are on point and are ready to put in their bid at the end of the month for this crowning title.  This is great for Cyprus we are so excited.  Limassol, Nicosia, Larnaca and Paphos are all at heads wanting their city to be Culture Capital 2017 king.

Of course no matter which city wins it will be good for the whole of Cyprus but the competitions on and it will be interesting to see who wins.

The Cyprus cities will be short listed and announced before Christmas but until then ideas and new projects that each city is to implement are being kept hush hush.

The city who wins not only wins the title but keeps it for the whole of 2017 and events will take place all the year round. This not only gives the island the opportunity to brighten up the place but it also brings in extra tourism and raises awareness to the country itself to worldwide nationals.

Paphos are going all out to win the Culture capital 2017 and focusing on not only the culture aspects but also the environment and many other aspects.  Paphos is an extremely strong nominee with many ancient monuments and historical places of interest dating back centuries they have a lot to offer for this title.

But once again it is still an island wide honour and no matter who wins everyone will help and support each other. Having said that it is still exciting to see who will be the winner but we have to wait until Christmas to find out!

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 30TH OCTOBER 2011. http://www.lawcyprus.org/

Another Energy Increase Would Result In Disaster And Total Public Resentment Advise Paralimni Property Lawyers

Property Lawyers in Paralimni – review – Cyprus Energy Prices

Brace your self’s public we may be set for another electric increase.  Funny though I thought we had only just had one and now we are set for another one? These must be false rumours’ as this would tip the public over the edge. You cannot be serious?

It was all kept silent on how much the electric bills would be increased to after the Mari navy base explosion but then later announced our bills would be raised by 16% and oh yes our bills were definitely raised.

The new raise is expected to be brought in the beginning of 2012 and we are absolutely gobsmacked. The UK now pay less on electric bills than Cyprus we never thought we would say that it is shocking.

This is on top of any new austerity measures being brought in once agreed upon.  Please how are we supposed to live here especially now winter has arrived and jobs are very scarce.  Social security does not even pay enough to cover the rent let alone the electric.

It is reported on a whole consumer will be paying 30% more on their electric bills wow!

The Commerce Committee plan to approach the European Union asking if the VAT on electric bills can be dropped by 7% currently set at 15% it may make a dint in the bills but 30% is still a long way away.

The government really need to address this situation it is becoming out of control and if they do not sort this out it may be the public out of control soon enough.  We have taken enough we cannot afford anymore increases in any aspect of our living here.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 30TH OCTOBER 2011. http://www.lawcyprus.org/

Lawyers In Cyprus Urge All To Recycle And Do Their Part Towards Saving The Planet

Cyprus Lawyers-Review-Recycling - http://www.lawcyprus.org/

We try to cover every month a topic on the environment and climate change.  This is a topic we feel very strongly about and will continue to promote water saving and recycling and any issue we feel should be undertaken by the public to help the climate.

It does not take a lot of effort maybe a few extra minutes every day out of your time just to make sure you are doing your bit for climate change.  It is not a lot to ask but the rewards will definitely be high in the future.

Recycling is very easy, very quick and a lot more hygienic.  If you have 3 separate bins in your home even just small ones with different coloured bags, it is good to buy the same coloured bags as the public recycling bins to make it easier for you to deposit them in the right bin, and put your own labels on your home bins, it is really effortless to recycle.  It also teaches your children from a very small age how to recycle which is excellent for the future of our planet and more so, excellent for their future.

To make it easy for you we have prepared 3 tables that you can print out and stick on your bins.  These will also help you to remember what is included in the public recycling bins.

BLUE – PLASTIC BOTTLES AND CONTAINERS                         BROWN – PAPER                                                              GREEN-GLASS

PAPER BASED DRINKS CONTAINERS                                        CARDBOARD PACKAGING & BOXES                         BOTTLES

WATER                                                                                                 NEWSPAPERS                                                                    VASES

MILK                                                                                                      LEAFLETS/PAPER                                                              CONTAINERS

SQUASH                                                                                               MAGAZINES

JUICE

WASHING LIQUID/POWDER/CONDITIONER

CLEANING MATERIALS

LIQUID SOAP/SHAMPOO

TINS

CANS

METAL PACKAGES

All you have to do now is stick these lists on your bins with the right couloured bags and you have no work to do yet your recycling duty is fulfilled.

We urge you to take part in saving the planet and teach your children to do the same it is for them we are doing this!

Greek Lessons For Free On East Coast Give It A Try You Wont Regret It Advise Famagusta Lawyers

Lawyers in Famagusta – Review – Greek lessons

As it is now becoming a major issue for non-Cypriot citizens to learn Greek we did some research and found a great Greek speaking course for the East Coast residents.

It is Government run and the teacher is a lady called Maria who is absolutely charming and will put all you scaredy cats at ease.  The course is free of charge but you must have your yellow slip which you can apply for at the local immigration service.

The course starts beginning of November so you must hurry.  You can contact Maria on …….

The course actually runs for 3 years but each year starts November and completes in May which is excellent for the seasonal workers here in Cyprus.

This course is open to all persons over the age of 15. Maria is a qualified teacher and goes through every exercise very slowly in order for you to fully comprehend.  It is very nerve racking to start a new language and then to find a teacher who teaches at speed lightening is even worse as you tend just to pack up. Maria understands this and teaches at the pace suitable for you.

After signing up to this course and being the mature age that I am, after meeting Maria I am actually very excited to start my first lesson.

This course is run in every city in Cyprus and it is highly advised to start seriously thinking about learning Greek to be able to obtain a job here.  It also gives you more opportunities to really get to know the Greek people and their culture and make many more contact on the island.

The Greek people I feel will respect you a lot more if they can see you’re trying.

Once again If you would like further information call Maria on …….. It is also a lot of fun so give it a go and enhance your job prospects, knowledge and associates.

PUBLISHED BY A&G KOUZALI LAW OFFIC E ON 29TH OCTOBER 2011. http://www.lawcyprus.org/

Turkey Pleas For Tents And Sheltered Housing After 2 Earthquakes Hit Now The Nuclear Plant Should Be Banned Even More So Believe Cyprus Legal Consultants

Legal Consultants in Cyprus – review – Turkey earthquakes

Turkey has recently endured an 2 earth quakes one of them reaching 7.2 on the ricta scale over 500 people are dead and well over a thousand are injured.  Many houses are crushed and people are living on the streets in the cold and rain.  It is warned that many will die due to the cold weather and lack of housing facilities.

The search is still on for missing and dead bodies with many being found under the collapsed buildings.  Turkey are appealing for help and need tents and temporary housing for the homeless.  Some people are sleeping in parks and on the streets.

There is outrage over the slow response of certain recue and emergency services since the quakes took place.  There are many people queuing for tents to house their families while some people are taking tents and selling them to make a profit which is absolutely disgusting.

This is the same country that are wanting to implement a nuclear plant in the near future we hope this will be a good reason for them to stop this ludicrous idea and drop the subject immediately.  Turkey is very prone to earthquakes and had this disaster struck with a nuclear plant nearby the consequences would have been unimaginable.

Turkey is expecting snow any minute now and the people who survived the quake and are homeless stand no chance of survival should the snow hit.  Israel who do not have the best relationship with Turkey is sending in tents and other nearby countries are urged to do the same to help these poor people.

The emergency services should be on point with this kind of disaster being that Turkey is prone to earthquakes and such emergency requirements should be on hand ready in case this is not a good scenario.

Our thoughts are with the Turkish Nationals and the families who are sitting homeless and who have lost their loved ones in this disaster, and we hope and pray the nuclear plant will now be banned as it would be devastating to the Turkish nationals should it go ahead.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 29TH OCTOBER 2011. http://www.lawcyprus.org/

For The Cyprus Coffee Lovers – Organic Coffee Pure Ingredients, Healthy And More Than Tastey Who Would Have Believed It Review Cyprus Lawyers

Lawyers in Cyprus – Review – Organic Coffee- Completed on 29th October 2011.

Coffee is one of the biggest selling products after petrol I bet you did not know that?  Well we here in Cyprus knew that of course as coffee is a major part of our lives and our culture you could say!

Cypriots are one of the biggest drinkers of coffee! Yet we all know coffee is not good for us it is not good for our bodies and our and most definitely not good for our sleeping patterns.

So when I was invited to a coffee tasting evening I just had to go as I myself must drink at least 8 cups of coffee per day and no I do not sleep very well!!

I was very intrigued to hear it was a new organic coffee that has pure ingredients and is actually very good for you.  Ok so there had to be a catch but after tasting the coffee and listening to the presentation I was wonderfully surprised.

This coffee which is called ORGANO GOLD is 100% organic and tastes absolutely beautiful.  It goes down so smooth and it is totally healthy.  The ingredient is Ganoderma which is a mushroom grown in China.  I would never have believed it but for those who take coffee seriously this is the coffee for you.

Usually I choose which ever coffee is on offer of course with Nescafe being my favourite but I am totally hooked.

It is also exclusive in Cyprus and con not be found in the stores which also makes this new concept a profit making opportunity.  I feel once you have tasted this coffee you will want to go a step further and promote it yourself.

Check out the ORGANO website at www.organocoffeecompany.com and see for yourself.  Promoting products is not a usual practice of ours but this was a must as I absolutely love it and it is a new healthy way of drinking coffee and now we can do that without feeling guilty and it helps you sleep what could be better.  Give it a try and lets us know what you think.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 29TH OCTOBER 2011. http://www.lawcyprus.org

Power…Money…Leadership…A True Leader Will Step Down If It Is Right For The People Believe Lawyers In Cyprus

Gaddafi is dead.  Brought to the slaughter by the public after many years in power and what a way to die shot in the head in a dirty drain.

This leader lost his family who were killed in this mayhem, many thousands of lives of his so called people and his own life all because he would not give up his power he must have been an utter lunatic.  Why not just hand it all over and go and live in peace with your family what is the logic here … money…power…and what it does to people.  It was pointless!

The leaders of today have a lot more on their plate than anticipated, it is not just about lining their own pockets they now have to seriously think about the people they are leading because the people are not taking it lying down any longer and Gaddaffi is a prime example of how far the people are willing to go.

As we have said many times before this is a new era and everything is changing, countries are struggling people are getting poorer and these leaders who have had their time in power and their luxuries and lined their pocket, if the people are not eating they are not doing their job and the people will not starve while they are sitting eating luxury meals.

To be truthful the time has come we actually agree with this, not with death by no means but we agree the people must take a stand together it is the only way.

Libya is now celebrating its freedom and the end of this terrible civil war which has been going on for months. It is time to rebuild the country and hope for a better life for Libya’s long time suffering poorer class society.

When a leader can see his people no longer have faith in him or her Libya scenario proves the best way is to step down quietly with dignity.  Do not fight it those days have gone. A true leader will look you his people and what is best for them.  The loss of lives is not worth anything on this earth!

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 21ST OCTOBER 2011. http://www.lawcyprus.org/

East Coast Would Definately Benefit From New Casino And Give Us A Little Ray Of Light Says Cyprus Legal Consultants

Legal Consultants in Cyprus – Review – Casino on East Coast

Well who would have thought it … Paphos is quick on the draw and looking to obtain licenses to hold casinos in their town!

One village in Paphos known as Kritou Terra was actually the only area in Cyprus ever to have a casino and they want the same building which has been preserved to some extent to be restored and reopened as a casino once again.  The village will be first in line to apply for a license.

Although the building has not been used as a casino since the 20th century it was a place where the affluent visited including kings and the wealthy Egyptians. The village would like to revive the area once again and have taken it a step further and are already talking with the ministries for the license.

The interest in the casinos is very high and the Paphos municipality are also on the list to apply for a licence hoping it will bring in major revenue and keep the Paphos area and all year round destination.

Hotel owners are very excited at this opportunity and hope to take advantage but it is not clear how many licences the government will grant or even if the legislation will go ahead, however, we feel with the islands current financial situation they really have no choice.

This type of venue would be ideal for the East coast who up until now has received very little in development. It would bring in employment to the area and maybe all year round visitors it really depends on the extent of the project. We should apply for a license by all means it’s a great opportunity and great asset to offer the tourists and would 100% bring in extra revenue.

We will continue to follow this issue and any progress being made.  Let us know your thoughts and how you feel on casinos and the government now discussing new legislation.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 22ND OCTOBER 2011. http://www.lawcyprus.org/

New Projects, Promotions And Campaigns Needed To Keep East Coast Open All Year Round Believe Cyprus Lawyers

Lawyers in Cyprus – Review – Karma Hotel Development

Due to the winter season being so slow here in Cyprus hotels are now thinking of ways to keep their establishments open all year round and turning them into residential resorts, with apartments for long term rental and for investment purposes.

This type of project is aimed more at the older generation than the young which is a great concept as it is the older generations who have the cash to splash so to speak.

One hotel imparticular in the area of Pernera on the East Coast has renovated their hotel with a certain number of apartments for sale and the rest for long term renters.  They have included facilities such as bowling grounds, fitness club, and bridge club and also have the added benefit of a woman’s health clinic and a doctor visiting on a certain day of the week.

There are dining and bar facilities and many other facilities and clubs and arranged trips making it a complete lifestyle with everything you need in your own back garden. You have everything and is also has the security aspect which is excellent in this day and age.

It is a fantastic idea and also brings all year round employment to an area which really is like a ghost town during the winter so to have all year round residents is a blessing.

Even though this is an excellent idea and we wish huge success to the karma hotel who has worked very hard in achieving the high level standard of living on offer we must reiterate the need for all year round promotion for the Cyprus Island.

This island does not have to stop once November come around, the sun is still shining, and the venues can still operate people still love to holiday in the winter months even more so to get away from their cold countries.  We must start campaigning and organising all year round Cyprus for all the coastal areas the East Coast imparticular which comes to a sudden holt it’s drastic when we have so much to offer.

Well done to the Karma hotel we need more projects like this.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 22ND OCTOBER 2011. http://www.lawcyprus.org/

Where Will It All End For Greece And The Rest Of Us, We Must Hope And Pray As Violence Is No Solution Feel Paralimni Lawyers

Lawyers in Paralimni – Review – Greece

Even though Greece has been having protests for some time and they are very used to protesters in the streets they have now turned very ugly and things are getting out of control.

The most recent protest in Athens has seen one man dead and many injured and we are sure this is just the start of many more protests like this to come, as Greece brings in some very tough austerity measures that will hit the public harder when they are already down.

The clash between rivals groups erupted outside the house of parliament and a union official lost his life.  The tough austerity measures have been bought into action in order for Greece to receive EU and international financial support, but to gain this the public must suffer.

The house of parliament were waiting for the new austerity measures to be passed while the capital went on a 48 hour strike to protest against these measures and concluded with a loss of life.  It is a very sad state of affairs and the country is near collapse.

This is the same story in many countries and we are continuously reporting the same thing Cyprus is not far from this type of action we are sure as new austerity measures are now under discussion. However, no matter what point we get to and we believe the public should make a stand for their rights, violence is not a solution and we hope we do not endure this behaviour.

Many Greeks are coming from Athens to Cyprus for better opportunities but we are afraid we do not have that much better to offer at the moment.  Where this will end nobody knows we can only hope and pray for the best.

Our thoughts are with our sister land!

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 22ND OCTOBER 2011. http://www.lawcyprus.org/

Casinos Not Necassarily Good But Neither Is Our Economy Says Lawyers In Paralimni

Paralimni lawyers – Review – Casinos in Republic of Cyprus

As we thought the governments retracted decision on allowing casinos in Cyprus is becoming the latest controversy in Cyprus.  Of course someone has something to say it is always the case in fact it is human nature.  As we previously reported the government are discussing legislation to allow casinos in the Republic of Cyprus.

This has come at a time when the economy needs all the help it can get.  This does not necessarily mean the President or government officials agree with casinos or like the idea, but we feel it is a case of doing all possible to keep the island afloat.  We also have to move with the times and casinos are an attraction and can also be quite an exciting and great night out, it does not have to become a deeply disturbing addiction and cause for major concern.

The Cyprus Social Problems action group believe that the casinos will cause a higher level of crime and mostly low income households will use the casinos to 1 get free food and drinks and 2 because they believe they will win major amounts of money.  They also believe that casinos do not bring in extra revenue and only makes individuals gambling addicts.

Casinos have been in action since the beginning of time and whether or not the casinos are allowed, gambling goes on everyday here in Cyprus behind closed doors. Maybe bringing gamblers out in public places allows for more control however, gamblers are gamblers no one can stop them that is a fact, so no matter of their surroundings whether it be in a box room or a luxurious casino makes no difference!

The island is facing its worst economic meltdown in history and all development we are sure will be very highly considered but also very thought through.  It must have taken a lot and we must be in quite a mess for such a retraction by the government on this issue!

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 21ST OCTOBER 2011. http://www.lawcyprus.org

Классы акций компаний с ограниченной ответственностью на Кипре

Важно объяснить различия между следующими классами:

а) Уставный акционерный капитал

б) Выпущенный или выделенный акционерный капитал – общая номинальная сумма, фактически выданная акционерам в любое время

в) Оплаченный уставный капитал – сумма, которая до сих пор выплачивается по акциям, которые были выпущены

г) Невостребованный капитал – сумма, в отношении которой компания имеет право обратиться к акционерам, чтобы они внесли свой вклад

Следует отметить, что не существует минимального требуемого акционерного капитала для частных компаний на Кипре. Тем не менее, государственные компании должны иметь минимальный акционерный капитал в размере 25,630 €  (CYP15.000), из которого по крайней мере четверть суммы и все премии были выплачены.

Компания может иметь такие классы акций, например, в которых различные акции имеют разные права, т.е. право голоса или право получать дивиденды в обмен на их вклад в капитал. Акционеры получают свою долю прибыли путем выплаты дивидендов. Право на дивиденды возникает, если существуют распространяемые прибыли, получение дивидендов по которым было объявлено.

Когда и как это будет сделано, зависит от устава компании. Акционеры могут получить возврат своих капитальных вложений при ликвидации фирмы или сокращении капитала в соответствии с положениями Главы 113 Закона о компаниях. Если разные акции имеют разные права, они будут разделены на классы акций. Двумя наиболее распространенными классами акций являются следующие:

а) Обыкновенные акции (долевые), к которым относится подавляющее большинство акций и которые будут иметь обычные права без специального определения, и

б) Привилегированные акции, которые имеют преимущественное право на получение дивидендов и / или возврат капитала.

Привилегированные акции обычно имеют преимущественные дивиденды, которые определяются как % от номинальной стоимости акции. Такие дивиденды, как предполагают, являются кумулятивными, если не указано иное. Таким образом, если дивиденды не были выплачены за один год, 20% дивидендов будет выплачено в следующем году.  Приоритет дивидендов означает, что хотя дивиденды будут выплачиваться более регулярно, они будут точно такими же и не будут увеличиваться, если будет получено больше прибыли. Привилегированным акциям также будет отдаваться приоритет при возвращении капитала во время процедуры ликвидации, хотя, учитывая презумпцию равенства этих акций, это произойдет не только потому что они имеют предпочтение в отношении дивидендов. Имея приоритет при возврате капитала, эти акции более безопасны для инвестиций, чем обыкновенные акции, так как они имеют больше шансов получить возврат капитала даже там, где его недостаточно, чтобы произвести оплату всем акционеров. И все же они менее выгодны, так как не будут участвовать в распределении любых излишков.

Обыкновенные акции дают меньшую гарантию регулярной выплаты дивидендов, но выигрывают там, где была получена большая прибыль.

Следует отметить, что существуют участвующие привилегированные акции, которые сочетают преимущества приоритетного предпочтения и совместного использования  оставшейся прибыли или избытка капитала обыкновенных акций.

Classes of shares in a limited liability company in Cyprus

It is important to explain and differentiate between:

a)      Authorised share capital

b)      Issued or allotted share capital- the total nominal amount actually issued to shareholders at any time

c)       Paid up share capital- the amount so far paid on shares which have been issued

d)      Uncalled share capital- the amount which the company is entitled to call on shareholders to contribute

It should be noted here that there is no minimum share capital requirement for private companies in Cyprus. However, public companies must have a minimum share capital of Euro  €25.630 (CYP15.000) on which at least one quarter of the value and the entire premium has been paid.

A company may have classes of shares, for example, where different shares have different rights i.e. to vote or to receive dividends in return for their capital contributions. Shareholders receive their share of the profits by way of payment of dividend.  The right to a dividend arises if there are distributable profits out of which a divided has been declared.

When and how this is done, will depend on the Articles of Association of the company. Shareholders may receive a return of their capital investment on liquidation of the company or a reduction of capital in accordance with the provisions of the Company’s Law Cap 113.  If different shares have different rights, there will be classes of shares. The two most common classes of shares are the following:

a)      Ordinary shares (equity shares) which are the vast majority of shares and will have the usual rights without any special definition, and

b)      Preference shares which have preferential rights to dividend and/or return of capital.

Preference shares usually have a preferential dividend measured as a % of the nominal value of the share.  Such dividend is presumed to be cumulative unless otherwise stated.  Thus, if no dividend is paid one year, a 20% dividend will be paid the next year.  The priority on the dividend means that although dividends will be paid more regularly, they will be exactly the same and will not increase if more profits are made. Preference shares will also be given priority in the return of capital in a liquidation procedure, although, given the presumption of equality of these shares, this is not necessarily so just because they have a preference to dividend.   If given priority to return of capital, these shares are a more secure investment than ordinary shares, as they are more likely to have capital returned even where there is insufficient to pay all shareholders. Nevertheless, they are less profitable, as they will not share in any surplus.

Ordinary shares have less of a guarantee of payment of dividend regularly but stand to benefit where a large profit has been made.

It should be noted here that there are participating preference shares which combine the benefits of priority of preference and of sharing in the remaining profits or surplus of capital of ordinary shares.

Child Abduction It Could Happen To You Be Extra Vigilant Advise Lawyers In Paralimni

Paralimni Lawyers – Review – Child abduction

We would like to bring to your attention the urgent matter of child abduction and human trafficking. We have already touched down on human trafficking and the fact that Cyprus is bottom of the list when it comes to implementing the law.

Now it seems child abduction which goes hand in hand with human trafficking is becoming quite apparent on our island and this is a very scary matter.

There have been reports of foreign nationals trying to take children from places such as busy hotels where children are wondering around during the day time and swimming in the pools having lots of fun. Parents naturally assume their children are safe but they are not and attempted abductions are taking place. This is also happening at schools at times when the children are finishing school and it is very chaotic.

These attempted abductions can take place anywhere, at the beach, at the parks and parents and staff must now be extra vigilant.

Parents must always keep their children in eye view and close proximity at all times and staff at such establishments that cater for children must be briefed on child abduction and always fully aware of strangers. Your children must also be safe and secure playing in their own gardens.

This is the age we are living in i am afraid and while Cyprus has always been a safe place, free movement between EU countries makes it easier for human trafficking.

Children are taken in order to be sold or exploited and as horrific as this sounds not everything in life is smooth sailing with sun, sea and sand.

The reality is that there are very bad people out there who can make a lot of money off small innocent children and this is a parent’s worst nightmare come true. So we must push this issue and come together and come together to make sure this does not happen to our children.

This is very serious and it would be very foolish to think it would never happen to you. Push the government to tighten the laws and push the people to be extra vigilant and keep an eye out at all times.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 20TH SEPTEMBER 2011. http://www.lawcyprus.org/

Property Lawyers In Famagusta Not Surprised Uk Media Slaughter Cyprus Over Shabby Building Regulations

Famagusta property Lawyers – Review – Crumbling Paphos property development

It always happens to the British, wherever there’s property issues unfortunately the British are to suffer. In Paphos this year Kamares village to be exact a crack appeared on a hillside road that has situated quite a new development consisting of villas, houses and apartments 14 in all.

Since this time homeowners still have no clue what is to happen to their investment and are living in rented property or missing out on holidays in their new holiday homes until further notice. All the properties are starting move and this is only going to get worse if something is not done soon.

There are disagreements with the developer and authorities as to whose fault this is. The authorities believe if the developer had efficient surveys done this would have been noticed and the developer believes the authorities should never have given building permission.

But while they are playing the blaming game to and from the houses are going to start crumbling away and the homeowners of this project will have no home to argue over. It could be deemed that the houses have to be knocked down altogether and having only received their finished properties a couple of years ago this is a terrible nightmare for all who have invested on this project.

The road has been closed as this is too dangerous for the public and no use of the properties are allowed and it is believed the lack of sufficient drainage has caused this!

Whose ever fault this is it is not the investors fault and once again such investors are suffering and the lack of caring the construction industry whether this be on the governmental side or the developer it’s an ongoing problem with property issues of sorts.

Come on Cyprus pull your finger out no wonder the UK media slaughter Cyprus if its not one thing it’s another should not be allowed to happen. Where’s the caring, where’s the professionalism. Where’s the law?

We wish the owners of the properties a suitable solution and hope the government and developers get it together pretty soon before the bricks start falling.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 19TH SEPTEMBER 2011. http://www.lawcyprus.org/

Can No One Control Turkey Even Our Tourists Are Worried Now Say Lawyers In Famagusta

Famagusta lawyers -Review-Turkey disputing oil drilling

Cyprus is to start drilling for oil and gas on Monday 19th and matter between Cyprus and Turkey are now really staring to hot up. Greece has also stated there point of view if that any attacks happen on Cyprus it is the same as attacking Greece themselves.

The UN believe this is a good enough reason for peace talks between the Republic of Cyprus and the Turkish Republic of Cyprus to hurry and find a solution so that all Cyprus united can make use and benefit from such resources. But it seems Turkey is set on causing trouble and complete isolation for themselves.

Cyprus has every right to be drilling and Turkey are obviously not listening to EU warnings and threatening that their warships are ready and they will open fire should drilling start.

So what do we do just sit here and wait for the bombs to start dropping on us? The public and the visitors to our island are starting to panic and want to know what is going on and are they safe?

Will Turkey listen to reason and is this a good enough reason for the 2 sides to find a solution. If Turkey does not step down from this ludicrous behavior it could certainly damage peace talks and their accession into the EU so we do hope for all sakes that this issue is sorted very quickly.

Preparations are already taking place at the Limassol port where the helicopter has arrived that will be transporting the workers to and from the oil rig so whether there is threat of war or not preparations are not being deterred by Turkeys threats.

The find of natural resources would benefit many this should not be obstructed in any way. The EU must put their foot down on this one as it seems no one can control Turkey they want to do the controlling!

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 18TH SEPTEMBER 2011 http://www.lawcyprus.org/

Cyprus Property Lawyers Sponser Cancer Relief Walk And Urge Everyone To Join In To Raise Money For Cancer Relief

Property Lawyers in Cyprus – Review- 5Km Sponsored walk for cancer relief

We are pleased to announce we are one of the proud sponsors of the 4th Annual 5Km walk in aid of Cancer Relief.

This is a cause very close to our hearts and we ask as many people as possible to join in the walk in aid of cancer relief. Many thousands upon thousands die of cancer or are diagnosed with cancer every year and while studies are progressing we must do all we can to make sure the funds are available for the research of this drastic and very sad decease.

This is a 5Km walk starting in Pernera and finishing Agia Triada, on Sunday 30th October which gives you plenty of time to get those walking shoes and put this date in your diary. There will be refreshments and entertainment to finish of a perfect day.

All the proceeds will be shared between the following:

Cyprus Anti-Cancer Society in Paralimni
Cyprus Association of Cancer Patients and Friends in Paralimni
The Nicosia Hospital Oncology Unit
Make a Wish Foundation for children with Cancer related illness

We have a lot of units to cover which is why we are making this plea for as many people to join in as possible. So tell your neighbors, your family and friends and come and have a great day out with us. It’s not such hard work it really is fun and you will meet many individuals from around the area.

If you do nothing on a Sunday except sit at home watch TV or go to the beach just give it a miss for 1 day that’s all we are asking and show your support to the adult and children who are not so lucky as us.

We look forward to seeing you there!

Contact our office directly for more information or call SUE 07768377/STAN 99015187

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 16TH SEPTEMBER 2011 http://www.lawcyprus.org/

We Have The Weather We Have The Facilities Why Do We Close Ask Lawyers In Paralimni

Paralimni Lawyers – Review – All Year Round Tourism

We look set for another long hot winter the same as we saw last year 2010. It was December before there was any sign of cooler weather and 2011 is going to be exactly the same. Temperatures have reached up to 42C this summer and with September still seeing 39C, visitors to our island are loving it.

Temperatures are above normal form previous years and this just proves we have the weather to promote all year round tourism. We are one of the hottest islands in the Mediterranean and we must take full advantage and publicize this factor.

The only concern and downfall to this is that our water capacity is struggling and the island locals will suffer because of this. Rainfall has been very limited through 2010-2011 and water is very much down on last year. Obviously the 11/7/11 explosion has not helped matters and lack of rain previous and future water outlook is extra pressure on the islands water shortages.

Buts lets look at the positive side our summers are getting longer and longer and we need this to give incentive to business owners, tour operators and the government to keep the island 12 months of the year creating extra revenue, and all year round employment! Thus, repairing the economy and making extra cash available to find ways of obtaining or devising ways of securing water.

Places such as Tenerife, Canary Islands and Egypt stay open all year round and have a buzzing trade so there is absolutely no reason why we should slow down in winter.

June to October trade is busy especially on the East Coast now we must all pull together and put Cyprus on the map as an all year round destination.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 20TH SEPTEMBER 2011. http://www.lawcyprus.org/

Not The Last Horror Storey From Greece Believe Cypriot Lawyer G Kouzalis

G Kouzalis Cypriot lawyer – Reviews Greece debt

Issues in Greece are very much getting to the Greek public as one individual set himself alight due to his mounting debt at his home and his business. The bank refused him any payment options on his debt and he set fire to himself.

Is this the way forward for us all that we get to the point of no return? This man must have been very desperate to have done this to himself and their are many families and individuals in the same situation not being able to make the rent or the bills or put food on the table. And this is what the government have reduced their people too!

We can not even say things will even get any better for the Greek residents as it does look not look that way at all. Many are leaving their beloved country to find employment elsewhere and moving their businesses to other countries including Cyprus which puts more pressure on the country at a time that they need as much support as possible.

But if your people are struggling and not being able to put food on their tables it is very unlikely they will keep their support with a country that is not helping them. There are accusations that the state of the country is due to governmental corruption and this alone deters support from the people.

The man who set fire to himself is now being hospitalized and will still have to deal with his debt when he returns home this is such a sad story. The people need help not more taxes forced on them and lower salaries.

It is highly thought that Greece will default on its sovereign debt and have to pull out of the Euro zone not only do they have to find billions to cover their EU regulated country deficit for 2011 but also find money to pay back the EU for funds that are keeping the country afloat at the moment.

Greece plans to sell even more state owned companies to help pay some debt but in the long run the public will pay for this. This is not the last horror story will hear for Greek residents but we do wish so much luck for Greece and hope they see some sunlight very soon.

The governments have a lot to answer for everyone is struggling something has to change!

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 20TH SEPTEMBER 2011. http://www.lawcyprus.org/

Paralimni Property Legal Consultants Hope This Time Around Theme Park Goes Ahead

Property legal Consultants in Paralimni – Review – Theme Park

So is the Disney style theme park to be or not to be? There were rumors a year or so ago that we were to have a Disney theme park situated in the Larnaca area that would be built on the border bringing both sides of the island together. However, rumors died down and no more was spoken.

Now we have news that the plans are back on the table and negotiations are taking place between the government and the Russian business group who are looking to fund this huge project. The theme park is thought to be being built in Pyla and will require some 40 hectares of government owned land along with some privately owned land.

Should this theme park go ahead it will also consist of a water park, luxury hotel, and many dining facilities. It will cost in the region of 800 million Euros so it will be a very large project indeed.

This kind of development will most definitely bring in all year round tourism and all year round employment this is exactly what Cyprus needs.

The theme park will be Greek mythology themed so not exactly the same as Disney world but yet still a huge project for Cyprus. We are not sure to get our hopes up just yet as we were excited previously and nothing came to fruition so we will stay calm for now and see what happens.

The Russian business group apparently has a meeting with the Cyprus finance Minister to discuss matters of the land so it is still very early days.

All we can say is fingers crossed we need this investment and many more like it to bring in all year round revenue and keep our island and our economy buzzing.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 19TH SEPTEMBER 2011. http://www.lawcyprus.org/

Woman Of The Year Award For Cyprus And Russia Great Step Towards Womens Promoting Womens Equality Says Lawyers In Famagusta

Famagusta lawyers – review – Women’s Equality

Gone are the times that females should be seen and not heard or wearing the apron washing the pots, cleaning the house, doing the cooking and looking after the kids.

We are in the 21st century and women are doing for themselves. And to show just how far we have come, and we say this because Cyprus who still have very old fashioned views, 2 awards are being presented by CAS Cyprus Award Scheme to Cyprus females who have achieved entrepreneurship or high executive positions.

An award will also be presented to a Russian female in Cyprus who have achieved the same standard and made a difference to our island. This we feel is a very positive step for the females of Cyprus who do not get recognition for their efforts and also in pushing them to put their aprons down and show the Cyprus male population that we can do this!

The Russian business woman of the year award is the first of its kind in Cyprus and with Cyprus and Russia having such strong ties and the Russian nationals are becoming a very prominent force on our island this is natural par for the course.

The Cyprus business woman of the year ward has been running for 6 years now and rightly so. There are many talented females on this island.

If you feel you know an inspiring female who makes a difference and has proven their ability either with running their own business or with an executive position put them forward without hesitation. We as women must stand together on this issue especially on islands such as Cyprus who oppress women equality.

Tell us your thoughts as we would love to hear from you and we will definitely bring more on the awards for Women of the Year in Cyprus.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 20TH SEPTEMBER 2011. http://www.lawcyprus.org/

Tourism Up Lets Start Promoting All Year Round Toruism Say Legal Consultants In Cyprus

Cyprus legal Consultants – review – Tourism Figures

Cyprus is on a winning roll with tourism numbers up for August compared to this time last year. Figures are up nearly 15% for 2011 arrivals compared to 2011.

Russian and UK nationals are still flocking to our island and there have been an increase from Greece, Germany and the Netherlands.

This is such refreshing news after all the bad news Cyprus is facing at the moment, it really is like a breath of fresh air.

August arrivals have risen by 11% on last year and in return for such a great season revenue is also at a rise. However, the recent explosion set back the islands economic growth so these increases in revenue will no impact on the country’s deficit but the future is looking bright.

We have had a miserable time of late and in previous years but it looks like we are back! What is also making us happy is that the UK has not neglected us as we thought they had.

There is no getting away from what our island has to offer, fantastic weather, beautiful coastal lines, magnificent places of interest and events and venues for all ages, what’s more future development.

We ourselves publish all that is going on in the news but we must now concentrate on the positive things our island has to offer instead of the negative issues.

We will make it our goal to bring to the public only the good that Cyrus posse and if all the Cyprus media do the same the difference this will make to our island we are sure would be phenomenal.

Great news on the recent tourism figures lets get started on promoting all year round tourism and what we really have to offer the internationals’ investors and visitors.

The future is bright the future is Cyprus!

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 19TH SEPTEMBER 2011.http://www.lawcyprus.org/

Nice To Hear Joyful Stories Instead Of Continuous Bad News …Congratulations From Cypriot Lawyer On Third Guiness World Record

Cypriot Lawyer G Kouzali Review – Cyprus Guinness World Record
The wine festival in Limassol Cyprus turned out to be a spectacular and very popular event this year with many locals and tourists turning out for the event.

The wine festival has been running for 50 years now and this year was the 50th anniversary and how special it was.

During the festival there was a ceremony for the world Guinness record for the largest wine glass measuring 3m 37cm in height and 1m 53 cm in diameter… imagine that! Four bottles of wine from the biggest wine producers in Cyprus were poured into this gigantic glass to cement the world’s largest wine glass record.

Cyprus also holds to other Guinness world records for longest salsa dance and longest hasabiko dance. The wine festival has been a huge success this year and many tourists travelled form all over the island to visit and reported having a great day.

previous to this event Cyprus also held for the 5th year running the Cyprus Russia gala on the 10th September which was also a huge success visited by many prominent political and financial officials from both Russia and Cyprus.

Many famous performers preformed at the gala including Michalis Hatzigiannis who is a platinum artist many times over. Hundreds of visitors turned out for the gala and not only is this a great day out it is very important for the strong relations Cyprus and Russia enjoy and have done for many years.

It is really nice to hear about such events and how much the public and visitors to our island have enjoyed themselves. It makes a change to hear joyful stories instead of the bad news we are continuously hearing.

Cyprus holds many cultural events all year round in all areas and we will do our best to bring more update and detailed reports on these.

Congratulations to Cyprus for yet another Guinness world record fantastic news.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 20TH SEPTEMBER 2011 http://www.lawcyprus.org/

Correct Procedure For Claimnig Property In The Turkish Republic

We would like to take this opportunity to give out some of the latest as per the above topic as we want to make very clear the procedure for individuals wanting to claim back their property on  Northern Cyprus.

There are 2 courses of action available.

Sit it out until a solution to theCyprusproblem can be found – that is of course if you trust the politicians.

Or

Apply to the Immovable Property Commission on the North.

Applications that went straight to the European Court of Human Rights were actually not passed judgment on as it was decided the applicants have to follow all courses of remedy available to them locally first before appearing at the ECHR.

Therefore, the correct procedure is:

  • To appoint a lawyer that can present your case before the Immovable Property Commission in the North.  (The Immovable Property Commission was devised to hear cases and apply decisions due to the fact that the Turkish Government now accepts responsibility of the North and therefore such applications from Greek Cypriots would be fairly dealt with)
  • However, if the decision from the Immovable property Commission is not satisfactory the next step is to appeal to theHigh Administrative Courtin the North.
  • If still no satisfactory remedy then apply to the ECHR as all obligations to seek remedy have been fulfilled and failed. This is the only way to reach to a European remedy.

There is a time frame to apply to the Immovable Property Commission therefore all applications must be put forward before 21/12/2011. A valuation of the loss of use of property during the years of 1974 – 2011 must be submitted and a decision on the remedy sought.

This is a very short time period and we urge all Greek Cypriots to contact us immediately in order to prepare their application.

Full details and costs will be given upon request.

http://www.lawcyprus.org/

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