Firm Profile

Spyros Arotis- Elena Aroti & Associates is a law firm located in Nicosia, the capital of the Republic of Cyprus, which is a member of the European Union.

The legal team through their years of experience and practice have been profoundly involved in offering legal services to individuals, businesses and public organizations.

The legal team’s experience and practice expands among company formation and management, tax law and international tax planning, corporate and commercial law, admiralty and shipping, property and real estate, litigation practice and arbitration proceedings, banking and finance, applications to the European Court of Human Rights, legal agreements, competition and many other areas. As described under the “areas of practice” section.

The firm’s aim is to provide to each client separately personal attention, quick response, thorough examination of each issue and high standards of service.

Nicosia is the place where the largest companies on the island, amongst which many international companies, have chosen as the location for their headquarters.

Membership of Cyprus in the European Union since May 1^st 2004, its participation in the Eurozone since January 1^st 2008, its democratic regime and its long tradition in the rule of law, guarantee political stability. It is this stability, along with the targeted government policy and geographical, financial, legal, educational and other reasons, which create an environment that favors the continuous development of the island as an important international business and commercial center, as well as a services center of the highest caliber.

Advantages of the Republic of Cyprus:

Strategic Location, Europe’s Middle Eastern Outpost

The geographical location of Cyprus at the crossroads of Europe, Middle East, Asia and Africa, in combination with the excellent climatic and morphological conditions, offer exceptional advantages to the island.

International business, commercial and services centre

The official policies of all successive governments of the Republic of Cyprus encourage and aim at the development and transformation of the island into an important international business and commercial center, as well as a services center of the highest caliber.

Lowest EU corporate tax rate and efficient banking and financial services

(a) The taxes paid by Cypriot legal entities do not exceed 12.5% of net profit, whilst VAT does not exceed 19%. This is the most attractive tax regime in the whole of the European Union.

(b) The Republic of Cyprus has an exceptional banking network that provides all banking services. Bank secrecy is also in effect, with banks handling with the utmost confidentiality the accounts of their customers.

(c) Movement of capital and investments is allowed between the residents of the Republic of Cyprus and the residents of the rest of the member states of the European Union, as well as with the residents of third countries under certain restrictions.

Efficient legal framework

(a) The process of registration of legal entities is very simple, with the registered legal entity being able to start activities within 15 days. Low official fees and other expenses are in effect for the registration.

(b) The identities of shareholders in Cypriot legal entities engaged in international activities may remain secret and are only declared to the Central Bank of Cyprus, which handles the relevant information with the utmost confidentiality. Secrecy is also maintained for the participation in trust funds, as well as for all relevant activities and transactions.

(c) The Republic of Cyprus has signed tax treaties with more than 45 countries, many of which are former Eastern European countries.

(d)The formation of conventions that encourage the investments via Cypriot companies is possible.

European Union and the Eurozone member state

The Republic of Cyprus is a member of the European Union and the Eurozone and third countries can reap the benefits by becoming activated in the European Union via Cypriot companies.

Highly qualified labour force

The workforce is qualified and specialized, with a high educational level, the majority of residents speak English and the standard of living of the population is very high.

Infrastructure Capabilities

There is an abundance of office spaces, as well as living spaces of high standard and low cost, in all parts of the island.

Representation of international service providers

In the Republic of Cyprus many international auditing firms are represented, providing auditing, accounting and advisory services. Also represented are many other companies which are active in many other sectors of trade, finance, services, etc.

Advanced telecommunications network and infrastructure

The Republic of Cyprus is connected to the rest of the world via all the modern telecommunication systems, whilst the local network of telecommunications is amongst the most developed in Europe.

The Republic of Cyprus has two state of the art international airports, in Larnaka and Pafos, through which daily flights are executed from and to all the important destinations of the world.

There are also two harbors, in Limassol and Larnaka, which service on a regular basis around 100 shipping routes from the five continents, as well as a number of marinas that offer a variety of services to private boats.