Partnerships Limited By Shares in Cyprus

In this article I will inform you about the amendment of Law 144 (I)/2015, which introduced the partnership limited by shares. The new legislation came into force in 2015. As a result of this particular legislation, Cyprus is now in line with other EU member-states, including the UK, Poland and Luxembourg. In addition, the introduction of partnerships limited by shares is expected to create new business and investment opportunities and consequently urge business people and investors coming from different EU member-states to invest and develop their business plans in the Republic of Cyprus.

Generally speaking, the partnership limited by shares is regulated by the Partnership and Business Names Law, Cap. 116.

According to Cap. 116 there are the following two types of partnership:

The General Partnership, in which each partner is liable jointly and individually with all the other partners for an unlimited amount of debts and any other financial obligations of the Partnership. It should be pointed out that a limited liability company or other partnership can be a partner. Precisely, the Partners of a Partnership can be merely limited liability companies, or only Partnerships or both.
The Limited Partnership, in which at least one of the partners must have unlimited liability for Partnership’s obligations and debts. The remaining partners may have limited liability. It should be clarified that limited liability companies can be partners in a Limited Partnership, as the partner with unlimited liability.

This article will be focused on the provisions of the new regulation and specifically to partnerships limited by shares.

Before proceeding to the presentation of partnerships limited by shares, I would like to point out that according to Article 48, the registration of limited partnership is compulsory. Following the provisions of this particular Law, every limited partnership should be registered based on the provisions of this Law. In case a limited partnership is not registered, then is considered as a general partnership. As a result, every limited partner is regarded as a general partner.

Partnerships Limited by Shares:

Following the provisions of Article 47, partnerships limited by shares have no legal personality, regardless if they have or not a share capital. On the contrary, following the law, a limited company has a legal personality on incorporation.

Another major advantage of partnerships limited by shares is tax transparency consequently any taxation arises at the level of partners. The particular amendment has facilitated the adjustment of alternative investment funds to limited liability partnerships.

Restrictions:

No company, association, or partnership consisting of more than ten persons shall be formed for operating business activities unless it is registered as a Company based on the provisions of Companies Law, or any amendment thereof or has been incorporated according to any other Law.
No company, association, or partnership consisting of more than 100 persons shall be formed for the purpose of carrying out any operation which is designed to bring profit to the company/association/partnership, or each member of the company/association/partnership, unless it is registered as a Company based on the provisions of Companies Law, or any amendment thereof or has been established according to any other Law.

Where to Look for Used Cars for Sale

With a huge range of different media available today, online and offline, it can be difficult to know exactly where to begin a search for a new vehicle. Despite the confusion that this can cause, there are several tips to follow to make looking for your perfect used vehicle much easier than originally expected.

The first thing to do is search in your local area for all the used car dealerships that could potentially have the perfect car for you. Look specifically for dealerships offering used cars for sale in your area, or if you have limited access to transport, stick to the town or city that you live in and perhaps a few surrounding ones too.

The reason for this is that by going directly to the garages near you, you will be saving yourself a great deal of time searching through publications and online advertisements when you will just end up going to one of these dealerships anyway. You will also have the advantage that you can gain access to new stock that has not even been advertised yet.

Going directly to dealerships to see what they have available is also an excellent idea if you are looking to purchase your cars on finance. If you cannot afford to pay for your vehicle upfront, discussing your finance options before you set your heart on a specific car can save you a great deal of disappointment.

The next best option is looking at national online sites that advertise a range of cars for sale. These websites will often have a range of vehicles from both private sellers and dealerships, giving you an enormous range of options. You will also be able to filter your search results based on location – for example cars for sale in your area – and model – for example Volkswagen – and much more.

There are many advantages to being able to filter results, meaning you can take the number of vehicles turning up on search results pages from in the thousands down to merely hundreds. Be warned, however – you will have to do a great deal of searching to find just a few cars that suit your needs and preferences.

If you do decide to look for your vehicle in this manner, be sure to read all the small print and details in the advertisement, in order to avoid being conned or tricked into a viewing by the vendor. If you want more details, simply keep a list of essential questions with you when searching and give the seller a ring immediately to clarify the information that you need.

Our final suggestion is to use local newspapers and small ad websites to find the perfect used vehicle for you. Whether you are searching for cars for sale in your area, there is sure to be at least one resource specific to your area that will contain adverts for vehicles that are just a short walk or bus ride away from where you live.

These publications will obviously provide you with a much smaller selection of cars to choose from than the huge, nationwide car sales websites, but the information presented here is much more likely to be reliable and accurate.

Whichever method you choose to find your new vehicle out of a range of second hand cars for sale, make sure that you are methodical in asking all the essential questions that you need to in order to find something that suits your unique requirements and preferences.

7 Levels of Recurring Revenue

The most successful companies put tremendous emphasis on having recurring revenue streams. Are you looking at recurring revenue in the right way? Which level of recurring revenue drives most of your revenue? The higher the level of recurring revenue, the more predictable your revenue stream becomes. The more predictable your revenue stream, the better you scale your operations. The higher the level and greater the volume, the higher you valuation goes. Every company should be constantly asking “How can we strengthen our recurring revenue position?”

Not all recurring revenue is equal. Think of it as pyramid-shaped. The higher up the pyramid you move, the more valuable your company becomes. Think of the pyramid as a way to first increase consistency and predictability, then business scalability, and ultimately market-share dominance, where customers find switching providers more costly or problematic.

Level 1 – Basic Repeat Customers

At this level you have customers that like doing business with you and come back to you repeatedly even though there is no contractual obligation to do so. A good example is a supermarket or gas station. The problem with level one is the barriers and switching costs are usually limited. So, while having repeat customers is far better than not having them, your revenue stream remains risky because you can’t count on your customers sticking with you. Many firms in this mode have built loyalty programs or personally branded products in an attempt to create stronger brand preference and make their offers “stickier”.

Level 2 – Network Effect

What this means is that the more someone uses the company’s product or service, the more each individual customer gets out of the experience. This “network effect” creates a barrier to that customer leaving, namely, the perception that no other network is as good. Automobile Association of America Membership is a good example. You may consider joining other networks, but for anyone who is already a member, it makes no sense to switch because their membership bases are so large that their value streams have pay their members back in multiples. With that said, the cost of switching is still low, and while you can differentiate who is in your network, everyone has access to multiple networks that can provide similar benefits.

Level 3 – Capital Investment with Consumables

In this case a customer has made an investment in a product, and now they need to keep buying consumables to support their investment. The longest standing product and stickiest product in this category is the copier. Later followers to take advantage of this strategy have been desktop printers and coffee machines. However, these later examples failed to really be as sticky because the price point to buy new ones at the consumer level is not high enough to prevent someone from jumping ship. And when it comes to coffeemakers, if they like your coffee, you still get to provide the consumables, just in a different machine. Consumables are usually a high-profit recurring revenue item.

Level 4 – Capital Investments – Subscriptions

Customers make a sizable investment in capital equipment and then pay subscriptions to use the equipment. In this case, they usually do not buy the equipment. They lease the equipment due to the significant expense for the equipment, software, maintenance, and upgrades required. Great examples are WestLawNext or Bloomberg which are staples in the legal and investment communities, respectively.

Level 5 – Sequenced Product Purchases or Service Subscriptions

The idea behind this approach is to create recurring income by encouraging your customers to consistently upgrade to new product and service offerings. Consider the example of Google Drive. It starts out as free. As you begin to use it more and more to store your data, you must pay to upgrade for more storage. Next thing you know, you are using Google Photos, and they have captured another revenue opportunity. Even if the company can convert just a fraction of its customers over to the premium service, it can create an extremely valuable recurring revenue stream. This revenue stream tends to be stickier because your customer prefers (knows how to use) your product, and the cost of switching in terms of time, effort, and costs outweighs the simplicity of staying with the current vendor.

Level 6 – Good-Until-Canceled Revenue

The best examples are bank accounts and credit cards. What makes this model powerful is when it’s based on an “opt-out” model where the customer has to terminate your relationship with them. For instance, I hate my bank. They send me a new credit card almost every 4 months because of their so-called “fraud protection” department’s suspicions. So every 4 months I have to change every recurring payment to come from the new account number. It is a nightmare! Plus, they send policy changes every 6 months, usually raising fees and reducing benefits. But do we change providers? No!, because of the trouble and loss of credit history. How often do people cancel their credit cards or close a bank account? Credit cards or bank accounts are an extremely powerful way of keeping customers over the long haul.

Level 7 – Longer-Term Contracts

The longer the contract the better! Think about the contract you signed when you got your new cell phone. I do not know about you, but I feel like when I signed on with Verizon I married the mob! Not only did you agree to pay a certain amount of money each month depending on the plan you select, you usually agree to keep paying for two years. If you are like me, each family member starts at a different time, so to get out gets prohibitively expensive, becomes a family debate, possible new phones get involved, and tons of time dealing with it. I just got chills thinking about it. This is an extremely valuable model because you can predict with a higher level of certainty what your recurring revenues will be both in the short-term, as well as over the longer term.

Consistency Means Just That

Well, here it is, the latter part of January and finally the gym is back to normal.

It is just too crazy those first 3-4 weeks of January.

All those people who made a commitment to do something healthy in the New Year are simply giving up and going back to business as usual.

It’s a good thing because the gym is just way too crowded when they are all here.

So true, isn’t it?

Whether it is the gym, weight watchers, cold calling or a dozen other things, there is no consistency to most people when it comes to goals in the New Year.

They start strong, but something usually happens.

Ninety percent of those things you said you were going to do this coming year, gone by 1/31 – forgotten forever.

Oh well, there is always next year!

“Stuff happens” as many people say.

No way should you buy into this or be part of it.

You are a star in development – do not get sucked in.

Consistency means you do it every single day, every single week and every single way you can. On and on until it happens in your life.

Yes, it gets boring sometimes, but so what.

Yes, you don’t “feel like it.” You have got to start doing what you need to do, not what you feel like.

This is your year and you are going to make it happen. Let me share 3 keys that can help you be more consistent in all you do.

1. Consistency starts one day at a time.

Don’t say it if you are not going to live it. Don’t say it unless you are committed to making it happen.

It was almost 25 years ago when I finally stopped smoking. However, I almost didn’t make it – again. It was the later part of January and I was ready to have that cigarette. Then, I ran into a good friend of mine who had beaten a nasty drinking habit. He said it very simply to me. “Manny, don’t stop for life, just stop for today. Tomorrow is another day and you can deal with it then.” I stop and have not gone back ever since.

One day at a time creates consistency.

2. Consistency is a “GUT” thing.

You have to feel it and commit to it way down deep.

You have to make a personal commitment that I am going to do this and nothing less is acceptable, period. Most people only commit on the surface.

When I was in Marine Corps boot camp, I made that commitment. No way was I going to go back home without my uniform. No matter how tough it got, it just wasn’t acceptable to quit. Once I did that, it became a way of life.

3. Once you commit to something – accept nothing less.

Consistency is very hard to achieve.

No doubt about it.

Nevertheless, if success were easy, then what fun would it be?

Do you want to be like every one else?

Do you want to be average?

Or do you want to be a superstar?

If you say you are going to do it this year, then follow through and make it happen. You will be amazed by the results.

So, what are you going to do to be consistent in your presentations this year? To be consistently good when you present to a group of people. To close more business. To generate more leads?

4 Great Cloud Storage Services You Should Consider

There are many cloud storage services allowing you to access your documents securely and on different platforms and devices. To make it easy for you to carry your documents while on the go, the cloud storage service providers have applications that you can download and install in your devices for free. The popular cloud storage services in the market include:

Dropbox

It’s probably the biggest name in online storage. It has three main accounts: free (2GB), Pro (100 GB) and Team (1TB). You can use Dropbox in both desktop and mobile and on a number of operating systems including: Android, iOS, BlackBerry, Windows and Linux.

To download the free app you only need to visit the Dropbox website. The cool thing with the service is that it doesn’t give you a size limit for file uploads. In addition to helping you store your file, the provider also allows you to share your files with other Dropbox users.

Box

This is another option that you can go with. It has two main accounts: free and paid. The free account will give you 5GB of storage. When it comes to the paid accounts, you will get 25GB of space if you pay $10 a month and 50GB if you pay $20 a month.

Box provides you with desktop apps for Windows and Mac. It also provides you with Mobile apps for Android, BlackBerry 10, iOs and Windows.

Just like Dropbox, Box also allows you to share files with other Box users. You are also embed a file in your website and give restrictions on who can print or download it.

To make it easy for you to recover files, the provider has a history feature where you can easily find your changed or deleted files.

SkyDrive

This is a service provided by Microsoft. If you have a free account you will get 7GB of space and for you to increase your storage space you have to subscribe to the paid version. For $10 you get additional 20GB. Twenty-five dollars will get you 50GB and $50 will give you 100GB.

There is a SkyDrive app that is compatible with different devices including: iOS, Mac, Windows, Android, and Windows Phone.

The most attractive thing about having SkyDrive is that you don’t have to install Office on your device as you can easily create and edit your Microsoft Office documents on the SkyDrive website.

iCloud

A product from Apple that gives you 5GB of free storage. To up your space you have to subscribe to the paid version. To get an additional 20 GB you have to pay $40 a year. For an extra 50 GB you need to pay $100 a year.

The cool thing with iCloud is that it automatically backs up your device, stores your documents and settings for your applications.

Conclusion

These are some of the popular cloud storage services that you can go with. As you have seen the services differ in terms of payments and space limits. You should research and settle on the best service for your needs.

Portable Fitness Equipment

Getting a bloom and medical allowance adduce provides a bulk of things. Firstly, you are assured of a assurance net in times of accidents, ailments, as able-bodied as injuries brought on the body. Secondly, through bloom and medical insurance, you can backpack out class tests, screens as able-bodied as vaccinations appropriately ensuring that you are calm and calm and in acceptable health.

With a all-inclusive bulk of insurers alms these services, the charge for a bloom and medical allowance adduce that best fits into your claimed needs, wants, as able-bodied as preferences can never be overlooked. There are a bulk of means that you can get allowance quotes. The actual aboriginal adjustment involves analytic online for quotes.Most insurers accept taken up the use of the online aperture to acquaint and advertise their affairs due to a bulk of factors. Firstly, a greater admirers is reached. A bulk of individuals are generally searching for a bloom and medical allowance adduce that best fits into their banking needs as able-bodied as claimed tastes and preferences. The internet has brought this casework afterpiece to them through enabling them admission to advice apropos the quotes just by a bang of a button.

In addition, the internet offers an direct and seamless alternation forum. Due to the charge for personalization and customization, insurers accept best up the use of the internet to facilitate this. A adduce can be discussed as able-bodied as adapted acknowledgment to the internet. Last but absolutely not the least, the internet offers all-inclusive opportunities for one to analysis as able-bodied as analyze the assorted bloom and medical allowance quotes that are accessible in the market.

When gluttonous a bloom and medical allowance quote, there a bulk of affairs that you should consider. Take agenda of the apology plan. Deemed the a lot of expensive, this adduce admitting offers a all-inclusive array of casework as able-bodied as allowances for one to accept from. As discussed, a bloom and medical allowance adduce seeks to accommodate a assurance net appropriately you should consistently accomplish abiding that your net is able-bodied fixed. This can alone be done by accepting an allowance plan that is acceptable for your needs.You should aswell accede the bloom aliment organizations plan. As the name suggests, this plan sets up a bloom and medical allowance adduce that enables you to seek analysis from a bulk of organizations. It is almost affordable and can be acclimated for a advanced ambit of casework as able-bodied as products. There are added affairs available; you should ensure that you backpack out a absolute analysis afore clearing on a accustomed quote. Finance is the above agency that influences the options accessible on accustomed bloom and medical allowance quotes. Ensure you apperceive of your premiums, co-pay package, as able-bodied as the bulk of deductibles that will be charged.