It is with great pleasure and honour to announce that our Founder and Honorary Chairman, Peter G. Economides, has been awarded with the "STEP Founder’s Award for Outstanding Achievement".

STEP is the international professional body for advisers who specialise in trusts, inheritance and succession planning.

Peter, who founded STEP Cyprus in 2003, has played an important role in the branch’s development over the years, having today almost 200 members from the island’s legal, accounting, banking and trust fields. He has also been pivotal in the global recognition of Cyprus in the trust and estate sector. Last but not least, Peter has also served as a long time council member of STEP’s international committee in London and has helped to globally promote STEP’s interests.

Cyprus offers up to 30% of tax cut with new Green Incentive Programme

The Cyprus Shipping Deputy Ministry has recently announced a new Green Incentive Programme to reward vessels that demonstrate effective emission reductions.

Article: The significance of Shareholders Agreements in a post Covid-19 era

By Panagiotis Sofokleous, Advocate

Interview with George Economides, recently published in the Legal 500

George Economides, partner in E&G Economides LLC, shares his thoughts on current and future behaviour of law firms in Cyprus and abroad.

STEP Private Client Awards

The STEP Private Client Awards are seen as the hallmark of quality within the private client industry. Open globally to both STEP members and non-members, these prestigious Awards recognise and celebrate excellence among private client solicitors, lawyers, accountants, barristers, bankers, trust managers and financial advisors.

Entries are encouraged from all over the world and from the whole of the diverse private client community. Entries for the STEP Private Client Awards 2021/22 are open until 23 April 2021.

All entries undergo a rigorous judging process with up to five finalists in each category. Judges are supported by an independent panel of experts comprising of internationally renowned practitioners in the wealth management arena.

Our Founder and Honorary Chairman, Peter G. Economides, is amongst the panel of experts for one of the categories.

The winners will be announced at the Awards Ceremony on 23 September 2021.

Cyprus imposes new 0.4% contribution on disposals of immovable property

As from 22 February 2021, upon the disposal of any immovable property situated in the Republic of Cyprus, there is a 0.4% contribution imposed on the value of the sale proceeds and will have to be paid by the seller.

In the case of the disposal of shares in a company owning such immovable property, the contribution will be applied on the value of the immovable property in the transaction. This applies only if the buyer will also take control over the said company. The value of the immovable property is taken by the Department of Lands and Surveys based on the latest valuation available by the Department.

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