Practice Areas

Direct & Indirect Tax Law

Direct and Indirect Tax Law


Tax & Vat

The provision of advice in tax and VAT matters, is a key component of our practice, playing a key role in various local and international finance and commercial transactions, as well as corporate structuring and restructuring.

Recognizing the significance of providing comprehensive and efficient tax advice, our legal team continually strives to assess the current developments and international trends in relation to tax transparency, substance and value creation, and at the same time to optimally utilize the Cyprus legal framework, including the Cyprus tax regime and double taxation treaty network and the existing incentives and benefits offered by the tax systems of various jurisdictions to achieve the most effective result for its clients.

Patrikios Legal has extensive expertise in advising and assisting clients in attaining tax efficiency in local and international cross-border transactions and meeting their financial and business objectives.

Our Firm’s direct tax advisory services include:

Our aim is to assist our clients to in achieving their business objectives through proper structuring and tailor-made advice. Our professionals can advise both on proposed and existing tax structures, with the goal of optimising their efficiency. Also, our tax team provides advice on the tax aspects and consequences of any local or international transaction. Our clients include local and international real estate companies, investment and financial firms, companies in the hospitality industry, start-ups, technology and software development companies.

Patrikios Legal can provide robust advice, assistance and support from the inception of a corporate transaction or its underlying structure, through its realization and implementation. The Corporate Tax Advisory team provides a wide range of services, from corporate structuring to the establishment of local and foreign companies and other entities, corporate tax optimisation, obtaining tax rulings, advising on applicable tax legislation and on any available incentives, benefits or schemes.

Patrikios Legal comprehensively advises individuals, on their business and personal needs, including tax and trust law matters, asset protection, domicile and tax residency issues, available incentives for HNWIs and relocation matters.

Patrikios Legal actively advises and assists in the implementation of any proposed local or cross-border structure, including incorporation, maintenance and administration of companies and other legal entities in Cyprus or abroad and provision of secretarial and administration services. Our firm is a one-stop shop offering all services related with the incorporation, corporate and accounting administration, as well as liquidation and dissolution of companies. Also, we are implementing restructurings and reorganizations, including local and cross-border mergers and advising on obtaining all tax benefits provided by the relevant legislation.

We offer advice in relation to the creation of substance in line with the current local and international trends. This includes the BEPS action plans and the nexus approach, the setting up of fully-fledged offices, and meeting local regulatory requirements, aligned with any applicable double tax treaties.

We provide advice in relation to the transfer pricing requirements, including assistance for obtaining any necessary transfer pricing study.

Patrikios Legal can assist entities and individuals to apply to the Cyprus tax authorities for the purposes of obtaining tax rulings.

Our Firm’s indirect tax advisory services include:

Advising on VAT

Provision of advice on any VAT matter concerning the VAT Directive as it has been interpreted by the European Court of Justice decisions and the Cyprus Value Added Tax Law 95(I) of 2000. Our mission is to provide comprehensive and sophisticated solutions concerning:

  • 1. VAT Registration and Compliance Advisory Services: Assisting businesses with the process of VAT registration and ensuring ongoing compliance with VAT regulations, including filing of the VAT returns in an accurate and timely manner.
  • 2. VAT Opinions on specific matters of the VAT legislation: Drafting VAT opinions on specific matters of the VAT legislation and providing expert legal interpretations and guidance on complex or ambiguous aspects.
  • 3. Dispute Resolution: Representing clients before the Tax Tribunal and/or the Administrative Court.
  • 4. Obtaining VAT Rulings: Obtaining rulings from the CyprusTax Department on the VAT treatment of specific transactions and arrangements.
  • 5. Co-ordination with the VAT Authorities in order to achieve the optimum outcome for our client.

Patrikios Legal is widely recognized as a premier law firm specializing in both direct and indirect tax law, boasting an excellent reputation in these fields. Beyond the firm’s expertise, Patrikios Legal is celebrated as an internationally renowned legal practice firm, dedicated to exceeding client expectations. The firm’s commitment to excellence ensures comprehensive legal solutions tailored to the unique needs of each client. Patrikios Legal's distinguished team of professionals provides strategic guidance and innovative approaches, establishing the firm as a trusted partner for clients seeking top-tier legal services on a global scale.

We offer continuous advice from the Cyprus law perspective on various tax matters to a number of large international law firms as well as high net worth individual clients. To ensure utmost satisfaction of clients, we maintain professional corporate and accounting/bookkeeping departments and close associations with top-tier audit firms, allowing clients to receive a full spectrum of services according to their individual needs.

Through our association with Pagecorp Group, we provide comprehensive corporate and accounting services, including incorporation and maintenance of legal entities, company secretarial services, the setting up and administration of Cyprus International Trusts –CITs-, re-domiciliation of companies in or out of Cyprus, accounting and financial reporting, VAT and VIES registration and administration, payroll processing and administration for a variety of clients in Cyprus and overseas.

Sample of Major Cases Handled

Tax Advice for Airline's Aircraft Leasing Scheme Across UAE, Cyprus, Ireland

Advising a leading airline company in relation to the tax consequences arising out of a financing scheme concerning the leasing of Boeing and Airbus aircrafts, involving UAE, Cypriot and Irish entities. We provided specialised tax advice in relation to transfer pricing and VAT matters and other relevant taxes.

Banking Institution Consultation on Stamp Duty for Developmental Bank Agreement

Advised one of the major banking institutions of Cyprus in relation to whether a general issuing bank agreement entered into by the Cypriot Bank and an international developmental investment bank is subject to stamp duty in Cyprus.

Legal Setup of Online Tourism Company Leveraging Cyprus IP Box Tax

Advised an entrepreneur, provider of online travel and holiday services accommodating a niche market of travelers seeking to enjoy alternative experiences ranging from hunting and fishing to trekking and ecotourism, on all legal matters relating to the setup of a specialist online based tourism company and website. Our client’s Cyprus based company seeks to benefit from the beneficial IP Box tax regulations in Cyprus that provide a tax efficient platform for the development of IP-related assets and enterprises.

Tax Re-domiciliation Advice for BVI, Panama Companies to Cyprus

Seeking to benefit from the Double Taxation Treaties in place between Cyprus and several other countries, we advised a number of Companies from the BVI and Panama wishing to transfer their base for tax purposes. Provided our legal opinions on tax matters relating to re-domiciliation to and from Cyprus to our multijurisdictional clientele.

Establishing Cyprus Subsidiary for Greek Data Security Company's International Sales

Advised a Greek based data security company in relation to the establishment of a Cyprus subsidiary for the purposes of facilitating international sales of its software products.

Guidance on Cyprus Citizenship by Investment and Tax Residency

Advised various foreign individuals in obtaining the Cyprus Citizenship through the Cyprus citizenship by investment programme, in relation to the requirements for becoming tax residents of Cyprus and acquiring the non-domiciled status.

Advising on Cyprus International Trust Setup for Wealth Management

Advising a high-net-worth individual owner of an interactive online marketing agency and other online platforms, in relation to the settlement of a Cyprus International Trust (CIT) for the purposes of utilizing the same as a wealth management and estate planning tool. We advised on the setting up and registration of the CIT and all related tax implications.

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