C. Savva & Associates Ltd

Nicosia, Cyprus
Description

C. Savva @ Associates Ltd (@S@A@) is a leading independent provider of Global Business Services in the fields of taxation, corporate administration, accountancy, fiduciary, investment funds, international trusts, special-license companies and business advisory services based in Cyprus and Canada. S@A clients comprise of some of the world@s largest multinational public and listed... View full profile

Areas of Practice
  • Tax Planning
  • Corporate Law
  • Fiduciary and Trustee
  • Audit and Accounting
  • Company Formation
C. Savva & Associates Ltd (“S&A”) is a leading independent provider of Global Business Services in the fields of taxation, corporate administration, accountancy, fiduciary, investment funds, international trusts, special-license companies and business advisory services based in Cyprus and Canada. S&A clients comprise of some of the world’s largest multinational public and listed corporations, including banks and investment firms, oil companies, real estate developers, leading law and accounting firms and high net-worth individuals and their families. Since 2009, we have been the fastest growing professional services provider in Cyprus. We are acknowledged as the premier service provider in our field as a result of having one of the strongest technical teams on the island, adopting a service-minded approach unseen among our competitors, and being the most cost efficient tier-1 provider in Cyprus. Our team of highly experienced qualified chartered accountants and legal advisors is uniquely positioned to identify all risks and clearly communicate them to clients.
C. Savva & Associates Ltd
4646 Heritage Hills Blvd
PO Box: 14519
Mississauga, Ontario
L5R 4G3
Canada
Phone 1: +1 (647) 999-7060
Email: cp.savva@savvacyprus.com
Nicosia Cyprus
Prodromou 75
2063
Nicosia
Cyprus
Phone 1: +357 (22) 516 671
Fax 1: +357 (22) 516 672
Email: info@savvacyprus.com
Please login to view company's activities
Avatar
Charles Savva from C. Savva & Associates Ltd shared a news item
06:37 11 July 2016

The CySEC(Amending) Law of 2016 18(I)/2016 for article 30 of the Prevention and Suppression of Money Laundering and Terrorist Financing relating to the application of articles 61 and 62 of Law 188(Ι)/2007, pertaining to the identity verification of clients/beneficial owners, has issued a consultation paper to all members.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
05:53 15 May 2018

Whether or not a legal obligation is created, will depend on whether the document that was signed and/or issued and/or delivered would be considered to fulfill the legal requirements imposed by applicable law, for example on the creation of a contract.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
08:37 19 April 2018

As from July 2017, transactions between related parties are reviewed under Transfer Pricing Guidelines in order to identify the tax treatment and compute any tax amounts. Therefore all related companies’ transactions in which Cyprus Tax Resident Companies are involved, are obliged to follow the arm's length principle.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
08:42 17 April 2018

The recently adopted EU Regulation 302/2018 on Geo-blocking (the “Geo-Blocking Regulation”) addresses the geographically based restrictions which undermine the cross-borders transactions within the Digital Single Market. The Geo-Blocking Regulation ensures equal treatment within the single market irrespective of the geographical area that the potential buyer makes the purchase of the product or service.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
09:03 23 February 2018

On the 23 January 2018, The Code of Conduct Group of the European Council resolved the removal of eight of the originally listed 17 jurisdictions, (including UAE, South Korea and Panama) from the EU tax haven blacklist. Blacklisted jurisdictions are jurisdictions that have failed comply with measures tackling tax fraud, tax evasion and aggressive tax-avoidance.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
09:53 16 February 2018

The Interpretative Circular 222 for Holding Companies (HC) was issued on the 9th January 2018 by the Cyprus Tax Department aiming to explain the tax treatment of companies that are exclusively involved in the holding of shares in other companies. The circular, clarifies that HC are not considered taxable persons exercising an economic activity, as the mere holding of shares in other enterprises does not constitute an economic activity.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
09:54 15 February 2018

It is common practice for Cypriot courts to refrain from interfering with the internal management of private companies, which is usually handled by the Board of Directors and/or the Shareholders in General Meetings unless required by applicable law and/or public policy reasons. . However, there are instances where court interference is required to restore the good order of the company’s affairs and eliminate the oppression of shareholders from the majority of the shareholders, who are essentially in control.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
09:19 25 January 2018

On 20 July 2017, the new EU Prospectus Regulation 2017/1129 (“Prospectus Regulation”) was entered into force as a wider part of the EU Capital Market Union (CMU) initiative. The Regulation replaces the EU Directive 2003/71/EC entirely and sets out new thresholds for drawing up and publishing a prospectus when securities are offered to the public or admitted for trading to a regulated market operating within a European Member State.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
08:27 18 January 2018

On 2 January 2018 the president of the Republic of Cyprus Mr Nicos Anastasiades accompanied by official government delegation visited the Kingdom of Saudi Arabia. During the visit Mr. Ioannis Kasoulides, Minister of Foreign Affairs of the Republic of Cyprus and Mr. Mohammad Abdullah Al-Jadaan, Minister of Finance OF Saudi Arabia, signed the Convention for the avoidance of double taxation with respect to taxes on income and for the prevention of tax evasion between the Republic of Cyprus and the Kingdom of Saudi Arabia.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
10:09 17 January 2018

In an ever-changing commercial environment, we always find it important for our clients and collaborators to refresh their knowledge on the Cyprus tax system. We will therefore use our best to provide an overview on certain matters pertaining to the Cyprus tax system, such as capital gains tax, stamp duty, and capital duty. Other topics will be covered in the near future.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
13:31 26 October 2017

The double tax treaty between Cyprus and Iran has entered into force and will be effective on 01 January 2018. The treaty between the two countries was signed on the 4 August 2015 during a visit of a senior Iranian delegation to Cyprus. The agreement for the avoidance of double taxation is expected to create opportunities and improve investment, and trade relations between Cyprus and Iran.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
14:00 11 July 2017

On 30 June 2017, the Cyprus Tax Department (“CTD”) published an Interpretative Circular (the “Circular”) which sets out the guidelines to be followed in regards to the taxation of intra-group back-to-back financing arrangements. The new guidelines introduce transfer pricing rules, in line with the requirements of the OECD and are applicable from 1 July 2017.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
08:25 10 July 2017

A new amendment to the current tax residency rules of individuals in Cyprus, has been recently proposed (although not as yet passed nor published in the official gazette of the Republic of Cyprus), by the Finance Committee and is expected to be enforced on 1 January 2018.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
07:15 14 June 2017

Article 9B of the Income Tax Law together with Circular 2016/10 is effective since 1 January 2015. The objective is to harmonize the tax treatment of equity financing and debt financing at an effort to encourage Companies to use equity financing and hence reduce dependence on debt financing and increase Cyprus Companies competitiveness. NID applies to Cyprus Tax Resident Companies and Cyprus Permanent Establishments of non-resident Companies.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
10:06 09 May 2017

A patent is the legal instrument provided nationally, on a European level and/or internationally, for the protection of any manufacture used for, amongst others, industrial purposes. By registering a patent, an inventor will exclude others from commercially exploiting the invention for a limited period, in return for the disclosure of the invention.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
10:06 09 May 2017

A patent is the legal instrument provided nationally, on a European level and/or internationally, for the protection of any manufacture used for, amongst others, industrial purposes. By registering a patent, an inventor will exclude others from commercially exploiting the invention for a limited period, in return for the disclosure of the invention.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
06:28 08 May 2017

The Republic of Cyprus was amongst more than 100 jurisdictions present at the OECD Multilateral Convention, for negotiations to implement tax treaty related measures to prevent base erosion and profit shifting, held on 24 November 2016. The Cyprus Ministry of Finance announced in their press release on 5 April 2017, its intention to sign the Multilateral Instrument at the signing ceremony to be held in Paris, in June 2017.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
07:22 07 April 2017

On 16 July 2015 a number of highly attractive amendments to the Cyprus corporate and personal tax laws were introduced to provide an exemption from taxation for personal investment income (dividends, interest, and rents), of “non-domiciled” individuals. The so called “non-dom” provisions aim to further encourage high net-worth individual investors (HNWIs) to reside and invest in Cyprus.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
09:06 15 February 2017

On 7th October the Tax Department has issued circular 205, which modifies circular 151 in regards to the Value Added Tax (VAT) treatment for persons being appointed as directors or other officers in Companies. The purpose of the revised circular, is to clarify the cases where the appointment as director or other officer does not constitute an economic activity and hence is exempt for VAT purposes.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
07:01 13 February 2017

On 1 November 2016, Cyprus signed the Multilateral Competent Authority Agreement (“MCAA”) on Country-by-Country Reporting (“CBCR”) joining other member states of the Organization of Economic Cooperation and Development (“OECD”), in their commitment to increase corporate accountability and transparency and ensuring that CbC reporting is implemented consistently across the globe.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
08:53 09 February 2017

The law pertaining to partnerships is regulated under the General and Limited Partnership and Business Names Law (the “Law”) which is based on the English Partnership Act 1890 and the Limited Partnership Act 1907.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
11:11 19 December 2016

The International Trusts Law of 1992, has been amended by the reforms of March 2012, (International Trusts (Consolidated) Law of 1992 and 2012). There are no formalities in setting up a Cyprus International Trust (CIT), and it can be done simply through a Deed of Settlement. There are however basic registration requirements which depend on whether the trustees of the Trust are licensed Cypriot Advocates or regulated service providers, which do not in any way affect the confidentiality of the beneficiaries or the settlor.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
07:57 21 November 2016

The House of Representatives has voted in favour of the amendments to the income tax laws in relation to the IP Box Regime (exploitation and/or sale of intangible assets). The aim was to bring the Cypriot legislation, in line with the provisions of the OECD BEPS Action 5 and within the new EU rules on the subject. The law will become effective within 30 days, unless amended. We will be able to provide further update once the details of the regulations are approved.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
07:31 21 November 2016

The Betting Law of 2012 (the “Law”) constitutes a technical rule under the Laws on the Procedure for the Provision of Information in Relation to Certain Technical Rules 2003 and 2004, according to “Directive 98/34/EC of the European Parliament and Council.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
14:10 22 June 2015

Cyprus GDP has risen by 1.60% in the first quarter of 2015 and positive growth rate estimated at 0.4% over the corresponding quarter of 2014, as reported by the Statistical Service of the Republic of Cyprus. The reported rise in GDP places Cyprus the second country in Europe (together with Romania) with the highest growth rates in the first quarter after the Czech Republic.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
13:59 22 June 2015

With recent investment initiatives being of top priority to encourage foreign investments into Cyprus, the new Cyprus VAT Aircraft Private Leasing Scheme (CPAS) is of particular appeal, with VAT rates dropping to as low as 4.37% for private jets used for pleasure purposes, the main aim of the Cyprus Tax Department, is to have the lowest VAT rates and most appealing Aircraft Leasing Scheme in Europe.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
13:34 22 June 2015

The protection of Intellectual Property (IP) is fast ascending the ladder of corporate strategy globally, as it can be one of the most valuable assets of an organisation. Intangibles account for some three-quarters of the Fortune 500’s total market capitalisation. Furthermore, IP assets absorb US$1 trillion of investment funds every year; roughly the same as total corporate investment in physical assets.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
12:41 19 June 2015

The Automatic Exchange of Information is fast becoming widely recognised as the most effective instrument to fight against tax evasion. With cooperation between tax administrations being high on the agenda in the ongoing fight against tax evasion, protection of integrity of tax systems, and transparency processes seem to be infiltrating throughout jurisdictions worldwide with the aim to making the Automatic Exchange of Information, a tax standard throughout the European Union.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
15:21 06 June 2014

Cyprus International Trusts (“CIT's”) have evolved considerably since 1992 when they were formally introduced in Cyprus legislation. Cyprus acquired a "state of the art" international trusts regime allowing non-residents to establish trusts with excellent confidentiality, tax mitigation and asset protection features.

Avatar
Charles Savva from C. Savva & Associates Ltd shared a publication
15:02 06 June 2014

Pursuant to a Council of Ministers’ decision, non-Cypriot Investors can acquire the Cyprus Citizenship by Naturalization (by Exception on the basis of Civil Registry Laws 2002-2013 as amended). The Cyprus government has formulated a ‘fast-track’ citizenship scheme aimed at high net worth individuals, investors and entrepreneurs. This allows the applicant, after a successful application, to hold a Cyprus passport and enjoy all the benefits of a Cyprus National.

C. Savva & Associates Ltd has not posted any photos yet.
C. Savva & Associates Ltd has not posted any videos yet.