Business in Cyprus

Areti Charidemou & Associates LLC

Areti Charidemou & Associates LLC law firm has a full range of services for individuals and legal entities.

The Firm’s professionals have extensive experience in the corporate sector:

  • registration of companies;
  • share transactions;
  • mergers and acquisitions;
  • tax optimisation and legal support of companies, including international business;
  • opening of bank accounts in various jurisdictions;
  • formation of trusts.

For those who plan to reside or to carry on business in Cyprus legal support is often necessary and advisable. Our team of experienced lawyers is always ready to assist. A wide range of issues will require the help and assistance of skilful advocates and accountants. Questions such as “How to obtain a residence permit?”, “What is Economic Citizenship?”, “What are the particularities of the Cyprus taxation system?”

Cyprus tax, corporate and immigration laws undergo constant change; and you have to be sure that any issues you need to deal with are addressed in line with amendments to the legislation.

Areti Charidemou & Associates LLC law firm has been working in Cyprus for over 20 years, rendering professional services to businessmen from Europe, USA, Russia and CIS countries.

Areti Charidemou & Associates’ Llc keyareas of expertise are:

  • sale and purchase of property;
  • trust law;
  • mergers and acquisitions;
  • tax and estate law;
  • shipping law;
  • immigration and corporate law.

Areti Charidemou & Associates Llc is a member of:

  • The Cyprus Bar Association;
  • The International Bar Association;
  • The International Tax Planning Association;
  • The Society of Trust and Estate Practitioners (STEP).

Among the clients of Areti Charidemou & Associates LLC are major Russian, European and Cyprus companies as well as investment funds, international trading and shipping companies.

Specialists of Areti Charidemou & Associates LLC have accumulated vast experience in organisation of tax planning, property deals, obtaining Cyprus citizenship etc.

Interview with the owner of Areti Charidemou & Associates Llc
Mrs Areti Charidemou

Areti Charidimou– Good morning Mrs Charidemou, as you know “Kipr Inform” is catering for Russian clients, and therefore, can I ask you “What kind of service do you think is most essential for Russian citizens?”

– We also work for Russian clients. To be honest, Russian citizens already feature substantially amongst our friends. You may notice I don’t call them clients as this is somehow impersonal, so I like to call them our friends and we have over the years helped our friends to develop their businesses and resolve their various issues.

Nowadays, an increasing number of Russian citizens consider Cyprus as their home from home and acquiring Cyprus citizenship or temporary or permanent residency is an obvious necessity, particularly in view of the recent attempts by the Cyprus government to ease the terms and conditions for obtaining Cyprus economic citizenship. As an example, in the case of a group investment of funds, the eligibility criteria has been reduced by over a half: the minimum investment is now 2.5 million Euros, whereas before it used to be 5.5 million Euros. Note that the term “investments” has been popular among businessmen investing their money in “somebody else’s business” whilst at the same time acquiring an ability to credit personal benefits for a future life in Cyprus such as personal bank accounts, company bank accounts in any Cyprus bank, purchase of property as well as shares in Cyprus companies. There is a possibility to combine all or several different options.

– Do you assist in realisation of such schemes?

– Yes, we do. We provide consultations and assistance in the realisation of planned investments, and in the purchase of property.

– And ordinary property sale/purchase deals also?

– This is one of our areas of expertise. We carry out due diligence, transaction support, obtaining the requisite documentation. For us it is not just a question of routine, we consider it as asset protection and comfort to the friends who trust us.

– Despite the fact that it is well known that Cyprus is no longer an offshore zone, it is no secret that many Russian businessmen still use Cyprus companies for preferential taxation schemes.

– Services for the corporate sector is our foremost expertise. This includes the formation of trusts – Cyprus trusts in particular and also in other offshore jurisdictions, including Bermuda and The Cayman Islands. New legislation does make Cyprus more attractive for foreign residents. In general, personally I like to call Cyprus an “international financial centre”. And this status remains unchanged.

– Even after March 2013?

– Yes, we have had to go through a financial crisis, but we are coming out of it. ‘Threatened folk live long’- you do have such a saying in Russia don’t’ you?

– Bravo!
Areti Charidemou & Associates LLC
– Thank you. We have overcome it. Most problems were connected to the banking system. But other services, including legal, registration, trusts services and tax planning – all remain as reliable as before the crisis. Companies opened their bank accounts in other banks, and as a matter of fact – they are coming back.

– Really?

– Yes, it is difficult to find any bank which could have been as loyal to clients as the banks in Cyprus. Although the requirements in Cyprus have been made more stringent, it is still more comfortable to work with bank accounts opened in Cyprus. And, coming round to the subject of tax planning, I would like to mention that Cyprus and Cyprus companies may well be interesting not only from the tax advantages point of view, but also as an instrument of business protection and preservation, for mergers and acquisitions , property purchase and sale, to name just a few. It is also important that Cyprus is a part of European Union and therefore all transactions made by us have a certain status.

– Mrs. Charidemou, now about your style of work. Friends have been telling me that even you are the owner of the Firm you conduct meetings and deal with the clients personally. Isn’t this a bit unusual?

– Not for us . I did mention that we treat our clients as our friends and I consider that our employees are part of my family. I love my job, it is my life and I am always in the centre of the circle, taking personal responsibility for each and every document prepared and signed in this office.

– Thank you so much for your time and I wish you continuing good fortune.

– Thank you!

– My pleasure!



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