Indian legal services for clients in Cyprus

Document route

Cypriot certifying officer and apostille, or Indian High Commission attestation

Time difference

IST is 2h30 ahead of Cyprus in summer and 3h30 in winter

Foreign judgments in India

Not reciprocating: fresh suit

Apostille with India

In force: apostille accepted

Cyprus investment in India and Indians in Cyprus

For many years Cyprus was among the largest sources of foreign direct investment into India, used by global investors as a holding jurisdiction because of the earlier tax treaty. Many Indian companies still have Cypriot shareholders or Cypriot intermediate companies. Indian professionals work in Limassol's shipping, fund administration and IT sectors, Indian students study in Nicosia, and a growing number of Indian couples, including mixed-faith couples, travel to Cyprus for a quick civil marriage.

We help with FDI and FEMA compliance for Cypriot investors, tax treaty and NRI tax questions, Indian company setup, buying and selling property in India, registration of Cypriot marriages in India, and powers of attorney.

Signing documents in Cyprus for use in India

Cyprus has been a party to the Hague Apostille Convention since 1973. The usual chain is:

1. Have your signature certified by a certifying officer at a District Administration office, or sign before a Cypriot advocate where the document requires it, with your passport.
2. Obtain the apostille from the Ministry of Justice and Public Order in Nicosia.
3. Courier the signed original to us; in India it is stamped within three months before use.

Indian citizens can also sign before the consular officer at the High Commission of India in Nicosia. Greek documents need a certified English translation, though most Cypriot corporate documents are available in English.

Most requested services from Cyprus

These six services cover most of what investors, professionals and couples connected with Cyprus need from an Indian lawyer.

The 2016 tax treaty and investment from Cyprus

India and Cyprus signed a revised double taxation avoidance agreement in November 2016. Capital gains on shares of Indian companies acquired on or after 1 April 2017 are taxable in India, while investments made before that date were protected under the earlier treaty. Cyprus had been notified as a non-cooperative jurisdiction under Indian tax law in 2013, but that notification was withdrawn retrospectively in 2016. Treaty benefits now also depend on the principal purpose test introduced through the multilateral instrument, so substance in Cyprus matters.

Cyprus does not share a land border with India, so Cypriot companies can usually invest under the automatic route, unless the ultimate beneficial owner is from a land-border country such as China, in which case government approval is needed. Every investment and transfer must be reported to the RBI on time.

NRI tax and property

Indians working in Cyprus are usually non-resident in India if they spend fewer than 182 days in India in the tax year, and are then taxed in India only on Indian income. Cyprus offers favourable regimes to new tax residents, but residents of Cyprus are taxed on worldwide income under Cypriot rules, so treaty relief must be planned. NRIs can buy and sell Indian property, other than agricultural land and farmhouses, freely, and repatriate up to USD 1 million per financial year from an NRO account after tax.

Cypriot judgments and family matters

Cyprus has not been notified as a reciprocating territory under section 44A of the Code of Civil Procedure, so a Cypriot judgment can only found a fresh suit in India. Cyprus is a party to the New York Convention. A civil marriage registered in Cyprus is valid in India if both parties had capacity to marry; the apostilled certificate can be relied on in India, and couples sometimes also register the marriage in India for local records.

All services for clients in Cyprus

NRI Property Law

• Property Disputes
• Encroachment & Illegal Possession
• Partition of Family Property
• Buying & Selling Property
• Title Search & Due Diligence
• Tenant Eviction
• Builder Delay & RERA

Inheritance & Documents

• Wills & Probate
• Succession Certificate
• Mutation & Transfer
• Power of Attorney
• Apostille & Attestation

Cross-Border Family Law

• Divorce for NRIs
• International Child Custody
• Maintenance & Alimony
• Marriage Registration
• 498A & Dowry Case Defence
• OCI Card Issues

Doing Business in India

• Company Setup for Foreigners
• Indian Subsidiary Setup
• Branch & Liaison Office
• FDI & FEMA Compliance
• Trademark Protection in India
• Commercial Contracts
• Employment Law for Foreign Employers
• GST for Foreign Businesses
• Investing in Indian Startups
• Legal Advisory for NRI Investors

Disputes & Enforcement

• International Arbitration
• Enforcing Foreign Judgments
• Money Recovery from India
• Shareholder Disputes & NCLT
• Accident Compensation Claims
• Cyber & Investment Fraud
• Criminal Defence & Look Out Circulars

Cross-Border Tax & Money

• NRI Income Tax & DTAA
• TDS on Property Sale
• Repatriation of Funds
• FEMA Compliance for NRIs

Indian missions in Cyprus

The High Commission in Nicosia provides passport, OCI and attestation services for Indian nationals in Cyprus.

• High Commission of India, Nicosia

Frequently asked questions