About the Company
Litigation & Arbitration

The law office S.A. Thoma L.L.C. has litigation practice, covering all areas of general and commercial law.

Our litigation department works with clients to resolve disputes in a timely and effective manner through prompt assistance and sound legal advice.

Areas of work cover: General Practice, Arbitration, Banking and Finance, Debt Collection, Personal Injuries, Insurance corporate and Commercial law, Intellectual Property, Real Estate, Copyrights and Patents, Taxation Mergers and Acquisitions.
Companies Section & Offshore Section

The law office S.A. Thoma L.L.C. offers extensive experience in corporate and commercial law gained both in Cyprus and internationally.

Areas of work cover: Formation, Registration, Administration of Cyprus and Foreign Offshore Company, Invoicing-Reinvoicing, opening L.C.'s, Management of Bank Accounts, Salaries Payrolls, International Tax Planning, Drafting of Contracts/Loan Agreements, Trusts etc.

Our services:

Our department deals with all matters relating to the registration, establishment and operation of Cyprus entities including companies, offshore banking units, offshore trusts, partnerships and representative offices of overseas corporations. Our department also deals with all matters relating to the registration of ships under the Cypriot flag, the incorporation and use of ship owning companies and the registration of securities.

We advise on the regulatory framework governing offshore-related activities and fiscal considerations relating to the operation of offshore entities including the substantial tax advantages and other reliefs and benefits which derive from domestic Cyprus legislation and from Cyprus double tax treaties. We provide nominee shareholders, local directors and secretary, registered office address, accounting and auditing services.

We advise and assist in the opening and operation of corporate and personal bank accounts in any currency with local banks.

Our offshore team of professional accountants and lawyers will be very happy to give you any further information or explanations you may require. Your enquiries will be given our personal attention and confidentiality will be maintained at all times.
Tax Law and International Tax Planning

This 'dusty area of law' is always a consideration in all forms of planning. The law office S.A. Thoma L.L.C. offers comprehensive legal services in this highly important area in an effort to provide the most efficient and practical solutions to the individual and separate needs of each client.

With our extensive expertise in advising and assisting clients in the implementation of effective tax planning structures designed to minimize tax liabilities, meet the clients financial and business objectives. This service is addressed to private individuals and companies -including offshore companies. Special attention is given on the tax benefits relating to the formation of international trusts. Our law firm has an excellent track record for high quality, sound tax advice and tax planning, as well as extensive experience in negotiating and handling tax disputes.
The Government of Cyprus has recently introduced major tax reforms for Cyprus.
The effects of the reforms are:

Enhancement of Cyprus as an international business centre.
Maintenance by Cyprus of its strategic location for investment into and from the Russian, Central European and Eastern European markets.
Ensuring Cyprus has the lowest tax regime in the EU, and
Ensuring Cyprus companies enjoy the benefits of investment and trading within the EU.

Main Characteristics and Tax Advantages:

The distinction between taxation of local companies and IBCs is abolished. The taxable profits of all Cypriot companies are taxed at the rate of 12,5%, the lowest in Europe that is not offshore. With proper tax structuring much lower effective tax rates can be achieved.
A fully EU and OECD compliant tax system (Cyprus is a respectable EU country, non – tax heaven jurisdiction).
No withholding of tax on dividends.
No capital gains tax.
Tax exemption for profits from the sale of securities
Freely transferable accounts of any currency may be kept either in Cyprus or anywhere abroad without any exchange control restrictions.
No withholding tax on payment of dividends, interest and royalties to non-resident individuals or to non-resident corporate shareholders.
No thin capitalization and controlled foreign corporation legislation provides efficient tax planning opportunities.
No time restriction on carrying forward of tax losses.
Group relief provisions are available.
Capital gains realized on immovable property held outside Cyprus will be exempt from capital gains tax.
Cyprus has concluded an impressive number of treaties for the avoidance of double taxation. Along with the low corporate tax rates and the special provisions for holding companies, the Cyprus companies provide an excellent vehicle for effective international tax planning.
The identity of the owners can be kept secret, and nominee shareholders may be used.
The professional and management services offered in Cyprus are of a very high standard.
Strong legal system based on English common law.
Its strategic geographic location.
Able to register for VAT purposes.
No obligation for the Holding Company (or right) for VAT registration & compliance.
Profits earned from a permanent establishment abroad are fully exempt from Cypriot tax, subject to certain conditions.
No withholding tax on dividends received from EU subsidiaries.
Real Estate

The law office S.A. Thoma L.L.C. property department deals with all matters relating to freehold and leasehold property, including transactions and disputes involving commercial and residential property and the provision of a comprehensive service to non-resident purchasers of property in Cyprus.

Areas of work include:

drafting sale agreements on behalf of purchasers and sellers
all aspects concerning acquisition of immovable property by aliens including applications in respect of residence permits, expatriation of funds and exchange control
estate administration planning
wills, probate and re-sealing
property management for non-residents
Intellectual Property

The law office S.A. Thoma L.L.C. deals with all aspects of patent and trade mark protection, design registration, copyright and the licensing of technology.

Our expertise covers the following areas:

advice on the acquisition, registration and protection of intellectual property
franchising and licensing
restrictive trade practices
issues of competition and agency law
patent, trademark, copyright proceedings and "passing-off" actions
advice on all related aspects of taxation

The management and administration of trusts is a core area of S.A. Thoma L.L.C. practice.We specialize in the set up of trusts in Cyprus and elsewhere in the world and offer trustee services to large corporate entities as well as high net worth individuals.

Furthermore our Firm provides comprehensive advice and services on:

International Trusts drafting
Trustees services
Wills drafting
Wills execution
Estate Administration
Sports Law

Cypriot Citizenship - Cyprus Investment Programme

Cyprus has established and revised the "Cyprus Investment Programme” on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2017, which is among the most attractive citizenship programmes worldwide due to an attractive destination for investment, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country.

There are four Criteria on the basis of the Programme, of which a non-Cypriot citizen, may apply for the acquisition of the Cypriot citizenship through naturalization by exception:

1) Investment in real estate, land development and infrastructure projects: The investor must have made an investment of at least €2,0 million for the purchase or construction of buildings or for the construction of other land development projects (residential or commercial developments, developments in the tourism sector) or other infrastructure projects.

2) Purchase or Establishment or Participation in Cypriot Companies or Businesses: The Investor should have made a purchase or should have participated in companies or organizations established and operating in the Republic of Cyprus with investment costs of at least €2,0 million. The invested funds shall be channeled towards the financing of the investment objectives of these companies exclusively in Cyprus, based on a specific investment plan. The applications shall be evaluated to verify that the companies or organizations have proven physical presence in Cyprus, with significant activity and turnover and employ at least five (5) Cypriot or citizens of European Union member-states. The minimum number of employees shall increase, if more than one investor invest simultaneously or almost simultaneously in the same business or company. In addition, the employees of the companies need to have legally and continuously resided in Cyprus during the five years preceding the application submission date.

3) Investment in Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organizations that are licensed by CySec : The investor should have bought units of at least €2,0 million from alternative investment funds (AIF) established in the Republic of Cyprus, licensed and supervised by the CySec andwhose investments are made exclusively in the Republic of Cyprus, in investments that meet the criteria of this Programme or in areas approved by the Minister of Finance. In order to confirm that the investments that meet the criteria of the current Programme will be kept for at least three years, the manager or the auditor of the Fund shall inform in writing and on an annual basis, the Ministries of Finance and Interior with reference to the value of the initial investment.

The purchase of financial assets of Cypriot companies or organizations of at least €2,0 million, such as bonds, bills and securities, issued with the approval of the CySec, by companies that have proven physical presence and substantial economic activity in the Republic of Cyprus, and have as a purpose the financing of the investment plans of these companies or organizations exclusively in Cyprus, based on an investment plan, fall under this criterion.

It is noted that the purchase by an AIF of units of other AIFs is not considered eligible.

4) Combination of the aforementioned investments: The investor may proceed with a combination of the above investments, provided that the total investment will amount up to at least €2,0 million.

Within this criterion (combination of investments) the investor may purchase special government bonds of the Republic of Cyprus, up to €500.000, which will be issued by the Public Debt Management Office of the Ministry of Finance, on condition that the investor will retain these bonds for a three-year period. The characteristics and the terms of these special bonds will be determined by the General and Special Issue Terms of the Government Bonds of the Republic of Cyprus.

Investments in government bonds through the secondary market are not considered eligible.


Clean Criminal Record: The investor must have a clean criminal record. Confirm that the Investor’s name is not included in the list of persons whose property is ordered to be frozen by the EU.

Residence in the Republic of Cyprus: In all the above Criteria, the investor must possess and retain for life, a permanent privately-owned residence and the purchase price of which must be at least €500.000, plus V.A.T. It is noted that members of the same family, who apply separately as investors, can collectively acquire a residence, provided that the total value of this home-property covers the amount of €500.000 per each investor. In case that the purchase value of the permanent privately owned residence in Cyprus exceeds the amount of €500,000, part of this additional amount can be used for purposes of supplementing the total amount of the investment.

Residence Permit in Cyprus: The investor, prior to his/her naturalization as a Cypriot citizen must hold a residence permit in Cyprus.

If the investor does not already hold a residence permit, he/she may apply for an immigration permit on the basis of Regulation 6 (2) of the Aliens and Immigration Law, simultaneously with the application for naturalization. If the application for acquiring an immigration permit is made solely for purposes of acquiring the Cypriot citizenship, in accordance with the provisions of this Programme, there are no other conditions than those stated as per the above criteria.

Assist and Support by Law firm S.A. THOMA L.L.C.:
Advise clients regarding the application procedure and the preparation of all the necessary documents.
Assist the clients on the above criteria
Communication with the responsible Ministries prior to submitting an application and during the examination of the application
Assist the client, upon the approval, regarding the procedure of the issuance of the passport and ID card etc.
Opening of Bank account
Preparation of any agreement regarding the citizenship procedure etc.
Cyprus Permanent Residence Permit

This permit concerns NON EU citizens. It is granted to applicant and his spouse till the rest of their lives. Also it is granted to their minor children till the age of 18 years old (in some exceptions till the age of 25 years old). Holders of this Permit are not entitled to work in Cyprus but may own Cyprus Company and receive dividends from its profit. There are two ways to obtain it:
           A. Category F (regulation 5(f)) : within 5 - 12 months
           B. Fast Track Procedure (Regulation 6(2)): within 2 months

Permanent Residence Permit Category F

Permanent Residence for the Republic of Cyprus can be applied under category F application in Cyprus. New and accelerated procedure for granting Immigration Permit to applicants who are third country nationals and intent to invest in the Republic of Cyprus. According to the provisions of Regulation 5(f) of the Aliens and Immigration Regulations, the Minister of the Interior decided to issue Immigration Permit to applicants, who are third country nationals, provided that they fulfill the following criteria :
  • A little of ownership or contract of sale, of a property in Cyprus, a house, apartment or other building, of a minimum market value of €300.000 and more.
  • Have secured annual income high enough to give them a decent living in Cyprus, without having to engage in any business, trade of profession.

As the category F is the permit, granted once but for the permanent stay in Cyprus, the Immigration Authorities will examine the stability and reliability of annual income during a long period of time. The possession of a solid amount of money, deposited in one of the banks of Cyprus might facilitate the application.


According to the provision of Regulation 6(2) of the Aliens and Immigration Regulations the applicant should be an owner of a property in Cyprus, a house, apartment or other building, of the minimum value of €300.000 excluding VAT.


Dependent Adult Children Age 18 - 25

Application fast track procedure (regulation 6) may be submitted by the adult child. He will get this permit of age including that they are depended on the parents (expect of other reasons).

Independent Adult Children:

  • Age 18 and more
  • To be independent on their parents
  • Total purchase price of the property of their parents must be €300.000 excluding VAT for each independent adult child.
Our firm will inform you about all other requirements.


It should be approved within 2 months and/or earlier and PR should be granted provided that all requirements are satisfied.

Areas of Practice

We provide a complete range of services necessary for Businesses, Entrepreneurs, Private individuals, Expatriates, Associates, Professional agents Legal Entities and Families, including but not limited to the following:

litigation practice, covering all areas of general and commercial law including Arbitration;
international tax planning;
analysis of client's business and preliminary advice on possible improvements;
consultancy in relation to setting up the optimal international business group structure;
ship registration;
consultancy on investment opportunities worldwide ;
formation of companies, branches and trusts in Cyprus, Seychelles, BVI, UK, Belize, Panama, Jersey, Gibraltar, USA & others;
We provide nominee shareholders, local directors and secretary, registered office address. assistance in setting up offices and in recruitment of staff in Cyprus;
opening of bank accounts with reputable banks and acting with them for relevant banking services;
assistance in raising finance;
assistance in acquisition of properties in Cyprus or abroad;
assistance in accounting services and consultancy on design and implementation of accounting and reporting systems;
assistance in auditing services;
domiciliation services;
company secretarial services;
statutory compliance services;
business administration, operation and management services;
preparation of special reports such as feasibility studies in relation to international business and investments, due diligence reports, etc;
provision of temporary office and business meetings facilities, provision of virtual office facilities in Cyprus;
The success of the office, its rapid expansion and the awards achieved are the direct result of the personal attention, quick response and high standards of excellence reflected in the service carried out.
Areas of Practice

Litigation & Arbitration
Companies Section & Offshore Section
Tax Law and International Tax Planning
Real Estate
Intellectual Property
Sports Law
Cyprus Permanent Residence Permit
Cypriot Citizenship - Cyprus Investment Programme

Latest News

Cyprus : New Energy Center
The light at the end of the tunnel for Cyprus has been the discovery of vast hydread more

Cyprus : New Energy Center


The light at the end of the tunnel for Cyprus has been the discovery of vast hydrocarbon reserves in its Exclusive Economic Zone (EEZ), which if fully exploited could see the reversal of Cyprus fortunes.
Energy is the new boom industry in Cyprus and the country has attracted worldwide attention and serious international investment. The country has begun developing strategies to exploit its new-found hydrocarbon wealth, following a world class natural gas discovery by US-company Noble Energy in 2011.. The reserves are currently estimated at around 7 trillion cubic feet (198 billion cubic metres) enough to meet the domestic gas demand for around 100 years.
There is increasing interest to invest in the energy sector and auxiliary services in Cyprus, presenting new opportunities for growth in the well-established legal, financial services and even construction sectors.
Cyprus has already signed multi-million-euro agreements with an Italian and South Korean consortium, ENI/Kogas, and with French energy giant Total to start natural gas exploration in its other EEZ blocks and has plans to start building a new infrastructure to utilise natural gas locally.
Published By : www.cyprusprofile.com

Cyprus: International Business Centre
Cyprus is a developed and established international business centre, with many tread more

Cyprus: International Business Centre


Cyprus is a developed and established international business centre, with many tax and other advantages to international business. The extensive network of treaties for the avoidance of double taxation which Cyprus has formed makes the island very attractive to international investors.
There are a large number of International Business Companies (IBCs), i.e. companies incorporated in Cyprus whose beneficial ownership and business activities lie outside Cyprus. It is worth mentioning that Cyprus has the lowest corporation tax rate in the EU at 10% on operating profits. Furthermore, as holding companies in Cyprus are in practice free of any tax both on their income from dividends and on their proceeds/going on disposal of their investments without any restrictions to relation to the time for which the investment was held or in relation to thin capitalisation, the island has become a favourable location for establishing holding companies by international business.

Cyprus Marinas: The new capital of Mediterranean Luxury
Marina projects are expected to be completed by the fourth quarter of 2012, makiread more

Cyprus Marinas: The new capital of Mediterranean Luxury


Marina projects are expected to be completed by the fourth quarter of 2012, making it possible to welcome the first yachts during Cyprus? assumption of the E.U. presidency during the second quarter of the same year. Work for the construction of Limassol Marina is already under way and progressing rapidly. Estimated to cost more than 350 million euros and providing facilities and services of the highest standard, it can accommodate all types of vessels from sailing yachts to megayachts, ranging in length from 8m to 100m.