In addition to advising on corporate law in general, Korelis & Co. LLC has ample experience in structuring mergers (including EU cross-border mergers and joint ventures), monitoring acquisition transactions and advising on business reorganisations, takeovers, internal restructuring, partnership formation and dissolutions.
The firm is actively involved in the drafting and negotiation of shareholders’ agreements and the implementation of such agreements in the Articles of Association of Cyprus companies, as well as the formation, acquisition and management of companies in Cyprus and abroad.
Employment law has always been a major concern of business and our law firm offers technically sound, commercially practical and confidential advice on the full range of employment issues. We deal with drafting of employment agreements and alternative arrangements, employment restructuring and termination issues, confidentiality and non-compete arrangements.
We can advise on employee rights and relations, immigration and tax related issues as well as on other legal requirements in employing foreigners in Cyprus. Our team has extensive experience in representing employers before the Cypriot labour courts and in advising on post termination issues.
We offer advice on the regulatory and compliance requirements for investment firms and intermediaries operating in and through Cyprus, including advice on the formation and licensing of Cyprus Investment Firms.
Our advisory services also cover developing financial service structure, governance and financial arrangements along with comprehensive transactional support and extensive regulatory advice through our close links with the regulatory authorities in Cyprus.
In accordance with the Merchant Shipping (Registration of Ships, Sales and Mortgages) Law of 1963, recreational crafts may be registered in the Register of Cyprus Ships and our office can assist with this process. The vessels are permitted to sail in both national and international waters.
In March 2012, the Cyprus VAT department issued new guidelines introducing advantageous leasing scheme for pleasure yachts in Cyprus. With this scheme, yachts owners are allowed significant tax savings and the effective VAT rat can be reduced as low as 3.4% of the initial value of the yacht. Our accounting department assist in this process of obtaining the VAT approval for such a scheme, working closely with our legal department for the formation of the lease contract and scheme.
Our firm specialises in all areas of immigration law, including work permits, residency permits and citizenship. We have an effective relationship with the Migration Department and together with our experience, we advise our clients accordingly and carry out all the necessary procedures in order to assist foreign employees, investors and their families to qualify under the specific immigration regimes.