Firm Profile

Costas Melas & Associates LLC was founded by Costas Melas in 1975. The firm has grown rapidly and today it is one of the most well known law firms in Cyprus, offering a wide range of services to a large clientele. We are also a member of the EMNI (European Mediation Network Initiative).

AREAS OF PRACTICE:

We deal with matters such as human rights, company and partnership disputes, insurance claims and disputes, medical negligence claims, traffic accidents, personal injuries, employers liability, company and partnership disputes, construction disputes.

We can assist and provide our clients with wide range of services which is mostly intended for the corporate costumers preferring professional long – term cooperation and support.

We offer consultancy services to foreign firms, individuals or legal entities that want to function in Cyprus.

Our aim is to provide our clients with services of highest quality level and at the same time maintain our professional and business ethics in order to add value and safeguard the interest of our clients.

Through our professional and multilingual staff, we are able to service clients in English, Greek and Russian languages.

• Nominee Shareholders in Companies.
• Nominee Directors in Companies.
• Bank Account Signatories.
• Trustees in International Trusts.
• Provision of a registered office address, acceptance of service of process and official mail.

OTHER CORPORATE MANAGEMENT SERVICES:

• Company formation in Cyprus and other jurisdictions.
• Provision of Company Secretary;
• Preparation of the minutes of directors and shareholders meetings;
• Assisting with changes in the Company’s Memorandum and Articles;
• Preparation and submission of Annual Returns;
• Preparation of Powers of Attorney;
• Maintenance of the statutory books;
• Registering foreign companies and offering consultancy services to them;
• Liquidation of companies, Insolvency, Bankruptcy and reorganization;
• Shareholders’ Agreements;
• Tax and fiscal services;
• Privatizations;
• European Companies formation and management;
• Incorporation of International Investment Schemes (Hedge Fund, Venture Capital, Mutual Fund);
• Corporate, advisory services.

Shipping

• We specialize in the registration of vessels under the Cyprus flag.
• We provide advises to ship owners and managers of ships, charterers and others dealing in shipping and related businesses.
• We help to resolve commercial and legal matters and attend to registration and administration of ships and yachts worldwide, registering of shipping companies, transfer of ownership and change of name.
• We deal with freight and off-hire disputes, financing, security, choice of flag and pollution.

Due to our understanding of the shipping industry we are able to handle all shipping related issues from complex transactions to more straight forward registrations of shipping companies and ships in Cyprus and worldwide. We offer expert advice on the following:

• Registration of shipping companies in Cyprus ( we are working closely with the Cyprus Department of Merchant Shipping) and worldwide.
• Ship and Yacht registration in Cyprus and worldwide.
• Ship management services
• Parallel ( bareboat) registration.
• Transfer of vessel ownership.
• Ship Finance.
• Search, transcripts, change of ship name, deletion, transfer of ownership, etc.
• Crew payroll.
• Sale and purchase of ships and Yachts.
• We provide assistance on other maritime matters such as general average, collisions, salvage claims, disputes under ship building and repair contracts, problems relating to employment of officers and crew and all related company and tax matters, etc.

Administration and Management

We undertake to perform the daily activities involved in operating a company.

Accounting and Financial Management

Accounting records must be kept by every company in Cyprus. Further annual audited financial statements must be submitted to the Inland Revenue and the Registrar of Companies. We offer assistance with such services.

Auditing and Financial Reporting

We provide assistance with the registration of a Cyprus VAT Authorities and the administration of VAT documentation.

In combination with our associated auditing firm we offer assistance in maintaining accounting records of the company in Cyprus as required by the VAT Authorities and eth submission of quarterly VAT Returns, based on the accounting records of the company, to the VAT authorities.

Escrow Services

We specialise in arranging escrows and acting as escrow agents to secure financial obligations arising from acquisitions, cross-border trading transactions and international (construction) projects.

Opening a Bank Account

We are able to provide assistance with the opening of a bank account with a bank in Cyprus or in other reputable jurisdictions. Most of the banks which we have established business relationships with have representative offices and correspondents worldwide and additionally provide on-line banking.

Tax Residency Certificates

Costas Melas & Associates LLC is able to provide clients with assistance in obtaining a Certificate of Tax Residence to prove the tax residency of the company.

This document is necessary when a company wants to take advantage of the benefits offered by an agreement for the avoidance of double taxation, and has to file with the tax authorities of the country of source certification from the country of destination not only that the company is registered in that country, but also that the tax rules of that country apply and that the company pays tax in the country of destination.

Tax Planning

Multi-national companies have been taking advantage of international tax treaties and offshore/low tax companies which has resulted in them reducing their tax payments.

With correct advice other companies can take advantage of low tax and offshore status to make significant and legal tax savings. We are able to help clients take advantage of such benefits.