Could you give a brief overview of Chambersfield
Economides Kranos, with reference to its core business
Chambersfield Economides Kranos is an international law firm, with
physical presence in more than 9 countries that undertakes a comprehensive
range of complex legal disputes and business cases, which fall within the
scope of litigation, by providing legal consultation and services in various
international businesses, public bodies and governmental authorities all
around the globe.
GFA Trust, offers corporate and fiduciary regulated services in 21
jurisdictions to private and corporate clients, multinational companies,
financial institutions and governments on a local, national and global
level. GFA Trust’s range of services includes company formation and
administration, trust registration and management, business consultancy for
wealth management, company re-domiciliation, mergers and acquisitions,
escrow services, opening of bank accounts on a global level, incorporation
of foundations, drafting of contracts, handling of commercial dispute
resolutions, consultation in commercial negotiations, provision of settlement
and alternative dispute resolution services.
Migration Citizen, has an extensive experience, in regards to Citizenships and
Permanent Residence plans with solutions that are fully compliant with the
legal provisions of each and every jurisdiction that our company is dealing
with. We mainly work with Cyprus approved and Latin America schemes i.e
Cyprus, St Kitts & Nevis, Antigua & Barbuda, Dominica, Grenada
Furthermore, it is noteworthy to mention that our Law Firm, Chambersfield
Economides Kranos, has created a powerful cooperation with reputable law
firms in multiple jurisdictions, in order to add a local touch to its provided
services towards its selective clientele.
Our experienced team of lawyers is very well aware of the fact that the
diversified business environment of our era, needs to be dealt with an open
perspective – creative out-of-the-box thinking – when approaching each legal
or corporate issue.
Which are the key priorities set up for the year 2018?
According to our experience, clients tend to form a very close relationship
with their lawyers. They require from their lawyers to thoroughly
comprehend their business culture and the legal framework in which they
operate, regardless of the jurisdiction. Therefore, our main aim is to create
long term relationships with our customers and not short term transactions.
Consequently, for each customer we analyze the industry characteristics,
operational environment and legal framework of the jurisdiction, in which
the client operates, as well as, the business plan and future targets of the client
which are to be achieved, in order to provide the best solution on a short and
long term basis.
Furthermore, an additional priority of equal essence to our company is the
formation of powerful cooperation’s with reputable law firms in various
jurisdictions, in order to add a local touch to our provided range of services.
We strongly believe that due to the diversified environment of our times,
enhancing our provided services towards our customers through localization,
shall ultimately strengthen our customer’s relationships, as well as, provide
higher quality of services. After all no one knows better the legislative
framework of a country, than a local professional lawyer.
Which are the advantages offered by Cyprus to
International business and foreign investors?
Cyprus is considered to be one of the most reputable and strongest
jurisdictions for many types of company formation, incorporation, trusts and
investment by offering one of the lowest corporate tax rates in Europe. The
country’s strategic geographical location enhances business activities between
the three continents of Europe, Africa and Asia.
Additionally, as a full member of the European Community, Cyprus is
completely aligned with the EU regulations and is acknowledged as a
country with one of the lowest crime rates in the world. The excellent
transportation structure, infrastructure, trustworthy and advance private
banking and medical system of Cyprus perfectly supports the entire
spectrum of business activities and way of life.
At this point, I believe that it is noteworthy to stress the important role
of the governmental authorities of Cyprus. The governmental authorities
of Cyprus are constantly promoting and supporting incorporation and
foreign investments, as well as, the purchase / ownership of property
under favorable conditions. Thus, the Cyprus governmental authorities are
engaging in non – stop negotiations for the formation of double taxation
treaties with non European countries, as to enable the Cypriot active
companies to enjoy an important competitive advantage. Currently, Cyprus
is an affiliate to more than 50 double taxation treaties based on the OECD
including EU, China, India, Kuwait, Russia, Singapore, Thailand, USA,
Azerbaijan, Lebanon, UAE, Georgia and other important hub countries.
Furthermore, other important advantages that Cyprus offers to
international business and foreign investors are the low corporation tax rate
of 12.5%, the very short time framework for company registration which
is approximately 7 – 9 days, opening of bank accounts within 2 – 5 days
accompanied by full online electronic banking and digital pass, as well as,
the low annual maintenance fees of corporations. Also, Cyprus allows the
use of nominee Directors, Secretary and Shareholders.
Cyprus is considered to be the most well-known EU country for offshore
company formation and Trusts. The Cyprus International Trusts are
exempted from income tax, capital gains tax, special contribution or
any other taxes. Additionally, there is no estate duty or inheritance tax in
Cyprus, flexibility for relocation, there is no exchange control regulation
and trusts can operate internationally with no disposal tax of securities.
Thus, there are no withholding taxes on dividend payments, interest or
royalties to non residents always subjected to the analogous conditions.
In addition, profits from the sale of shares in the stock exchange are tax free,
whereas, the losses of a company can be carried forward opposed to future
profits for an indefinite period. Besides those very important advantages,
Cyprus is also offering the Group relief option, whereby the loss of one
company can be covered by the profits of another since both of them are
under the Cyprus residential tax scheme.
According to your experience what are the criteria that
an investor should take under consideration when
selecting a Citizenship by investment program?
Even though each client’s requests are unique and may vary, what we know
by fact is that flexibility, mobility, lifestyle and future opportunities are some
of the most essential criteria for HNWI.
The Citizenship by investment schemes that we recommend, according to
our experience, must satisfy the following criteria:
• Fast passports acquisition process
• Estimate time for issuing the Citizenships / passports
should be 2 – 6 months
• The selected jurisdiction as well as customer jurisdictions must
accept Dual Citizenship
• Number of Visa Free Regime
• No physical residence requirements
• Generous tax regime schemes
• Transferable to next generation
• Investment prerequisites
• Capital appreciation of the investment
• Dependent children inclusion
As per your expert opinion, which do you believe are
the best jurisdictions for acquiring Citizenships by
investment plans, nowadays?
In my opinion, when clients are searching a strong passport that will
provide them direct access to the European Union with no residence
requirements, then the Cyprus Citizenship by Investment Program is
definitely the best choice. With the Cyprus Citizenship by Investment
scheme, investors, among other advantages, have the privileges of a
European Citizen and the benefit to operate a business in a favorably low
tax regime jurisdiction, in one of the safest countries of the world, which is
renowned as an international business hub.
In the case of a client who requests a cheap passport, then Dominica,
Antigua & Barbuda, St Kitts and Nevis, Grenada and St Lucia are highly
recommended as the best jurisdictions of the world, since their procedures
for passport acquisition are very fast, the investment is relatively low, with
value for money available options, thus offering access to a respectable
amount of visa free regime countries including EU and Schengen zone.
Could you please mention the benefits of having an
additional Citizenship / passport?
Currently, with this strategy a new opportunity rises for investors
and entrepreneurs, since they have the legal right to obtain an
additional passport and acquire the privileges offered from an
additional jurisdiction. The underlining concept of immigration
investment schemes is that individuals primarily obtain a new
and additional passport for themselves and their families that will
initially offer them mobility, safety, new business opportunities, as
well as, a new lifestyle perspective. Secondly and most importantly,
individuals who select this option enable themselves to undertake
a smart investment decision, which will simultaneously generate
additional profits for their business.
Thirdly, an additional passport from a reputable jurisdiction
will offer to the individuals and their families’ access to that
jurisdiction’s health providence, education system, quality of life
and culture, as well as, investment opportunities on a corporate
and taxation level that will additionally safeguard and expand their
In my opinion, an additional passport is considered to be a
“pragmatic” intangible asset fully transferable to next generations.