Extension of the deadline for the payment of the Fee of the Cyprus Central Agency for Equal Distribution of Burdens (K.F.I.K.B.) 0.4% due to the transfer of real estate and shares after sale during the period 22/02/2021 until 18/11/2022.
Παράταση προθεσμίας καταβολής του Τέλους Κεντρικού Φορέα Ισότιμης Κατανομής Βαρών (Κ.Φ.Ι.Κ.Β.) 0,4% λόγω μεταβίβασης ακίνητης ιδιοκτησίας και μετοχών κατόπιν πώλησης κατά την περίοδο 22/02/2021 μέχρι 18/11/2022.
The world of cryptocurrency and blockchain technology knows no borders. As crypto markets continue to expand globally, they attract a growing number of businesses offering a wide range of services.
We’re pleased to be one of the authors to the latest edition of “Buying & Selling Real Estate: An International Guide” in ILN’s comparative guide.
Cyprus has been considered as an attractive destination for investors, individuals and families through its competitive transparent legal, financial and regulatory framework as well as the advantageous tax policy combined with the strong banking system and stable economy with high standard of living and an excellent education system.
We’re pleased to be the authors of the Cyprus law chapter in Mondaq’s Comparative Guide on Private Mergers & Acquisitions.
Cyprus is a common law jurisdiction, and its legal system is based on the UK one. It is a clear and robust system which leaves no uncertainty as to the ownership status of real estate in Cyprus.
In the dynamic world of financial markets, the listing and delisting of securities on stock exchanges is a natural part of the evolving landscape.
The adoption of a unified surrender procedure among judicial authorities of European Union (EU) member states, based on the principle of mutual recognition and trust, has accelerated and simplified the extradition process while simultaneously limiting the ability of the executing state’s judicial authority to examine claims of potential violations of the fundamental rights of the requested person. Initially, the Court of Justice of the European Union (CJEU) adhered to a doctrinal approach, emphasising the respect for fundamental rights and freedoms by all EU member states.
Directors are responsible for maintaining the company’s accounting books and records in accordance with applicable accounting standards and laws governing the country where the company is registered.
Οι διευθυντές είναι υπεύθυνοι για την τήρηση των λογιστικών βιβλίων και αρχείων της εταιρείας σύμφωνα με τους ισχύοντες λογιστικούς κανόνες και τους νόμους που διέπουν τη χώρα όπου είναι εγγεγραμμένη η εταιρεία.
The crucial role and functioning of financial institutions in the economic area are unquestionable today. Financial institutions gather capital through deposits, a significant portion of which they then lend to a broad range of borrowers.
Η καίρια θέση και η λειτουργία των χρηματοπιστωτικών ιδρυμάτων στον οικονομικό χώρο είναι αδιαμφισβήτητη σήμερα. Τα χρηματοπιστωτικά ιδρύματα συγκεντρώνουν κεφάλαια μέσω καταθέσεων, μεγάλο μέρος των οποίων δανείζουν στη συνέχεια σε ευρύ φάσμα δανειοληπτών.
In the dynamic corporate world, businesses are constantly exploring strategic options to expand their operations and enhance market competitiveness.
On June 30, 2023, an amendment to the income tax law was published in the Government Gazette, specifically addressing the 50% exemption of employment remuneration under Article 8(23A).
Ο Ευρωπαϊκός Κανονισμός 6/2002 καθιερώθηκε, με σκοπό την ενίσχυση της προστασίας της βιομηχανικής αισθητικής με αποτέλεσμα να προάγει τη συμβολή μεμονωμένων δημιουργών ώστε να καθιερωθεί η υπεροχή της Κοινότητας στον τομέα αυτό, αλλά επίσης έγινε με σκοπό να ενθαρρύνει την καινοτομία και την ανάπτυξη νέων προϊόντων.
Η έκδοση των διαταγμάτων αποκάλυψης τύπου Norwich Pharmacal, εξετάζονται δυνάμει των παραδοσιακών προνοιών του Άρθρου 32 του Περί Δικαστηρίου Νόμου του 1960 (Ν.14/60).
The main protection for a minority shareholder in a company whose rights are being oppressed is provided by the Cypriot Legislation, specifically the Companies Law Cap. 113.
Κύρια προστασία ενός μετόχου μειοψηφίας Εταιρείας, στην οποία καταπιέζονται τα δικαιώματα του, παρέχεται από την ίδια την Κυπριακή Νομοθεσία και ειδικότερα από τον Περί Εταιρειών Νόμο Κεφ.113.
After a prolonged and eventful negotiation process between the European Commission and the Republic of Cyprus, the green light has been given to enforce revised requirements in the VAT law.
On June 13, 2023, European Fund and Asset Management Association (EFAMA) published the 21st edition of the Fact Book.
On 16th December 2022, a new law was published in the Official Gazette of the Republic of Cyprus, introducing significant changes to the country’s labor legislation.
The Corporate Sustainability Reporting Directive (CSRD), effective from January 5, 2023, enhances the rules governing the disclosure of social and environmental information by entities.
Cyprus has recently taken a significant step towards promoting transparency and predictability in the workplace by enacting the Transparent and Predictable Working Conditions Law of 2023 N.25(I)/2023, commonly referred to as the “Law.”
Landlords who fall within the scope of the Tenancy Law of 1983 (23/1983) as amended (hereafter “the Law”) can increase their tenants’ rents by a maximum of 6% after a decade zero increase in rents.
Οι ιδιοκτήτες ακινήτων, που εμπίπτουν στο πεδίο εφαρμογής του Περί Ενοικιοστασίου Νόμου του 1983 (23/1983) ως τροποποιήθηκε (στο εξής ο «Νόμος»), μπορούν να αυξήσουν τα ποσοστά ενοικίων στους ενοικιαστές τους με ανώτατο όριο 6%, μετά από μια δεκαετία μηδενικής αύξησης των ενοικίων.
The EU Council which represents all 27 EU member states, has unanimously approved earlier this month the Markets in Crypto-Assets Regulation (MiCA).
The Ministry of Interior’s proposal to revise the criteria for granting permanent residency under Regulation 6(2) of the Aliens and Immigration Regulation was approved by the Council of Ministers.
Ο χώρος της δικαιοσύνης είναι ένας κοινωνικοηθικός χώρος που είναι πολυδιάστατος και σε μεγάλο βαθμό απρόβλεπτος.
A Trademark is type of Intellectual Property Right that consists of a recognisable symbol, logo, name or design used to distinguish a company’s product or services from those of this competitor.
The crime of Human Trafficking has always been a great obstacle to our society. Despite several efforts to tackle it, this heinous crime continues to exist by violating and exploiting the rights of various individuals from any background.
Litigation funding, is a mechanism by which a third-party provides financial support to a plaintiff or a law firm for a legal dispute in exchange for a portion of the settlement or judgment award.
Cyprus companies are frequently parties to financing transactions either as borrowers or guarantors. For this reason, it is often the case that the shares in the share capital of such Cyprus companies are being placed as security to secure the loan obligations.
In late 2020, the US Securities and Exchange Commission (SEC) charged Ripple, a San Francisco-based company that offers a cross-border payment infrastructure, and two of its executives, with conducting an unregistered securities offering of $1.3bn by selling their cryptocurrency XRP.
On the 25th February 2023 the European Council adopted the 10th package of sanctions against Russia. The package contains new listings plus trade and financial sanctions, including further export bans worth more than €11 billion, depriving the Russian economy of critical tech and industrial goods. It also steps up enforcement and anti-circumvention measures, including a new reporting obligation on Russian Central Bank assets.
The term “reverse merger” refers to a reorganisation whereby a subsidiary company absorbs the assets and liabilities of its parent holding company.
In light of the recent Judgement of the Court of Justice of the European Union (CJEE) in joined cases C-37/20 and C-601/20, of November 22, 2022, access to the Register of Beneficial Owners for the general public was suspended as of the 23rd of November 2022.
Under Cap. 113, the Registrar of Companies may remove from the Register any company which appears not to be doing business and is not operation.
We are often approached by clients who wish to simplify their corporate structures, with the question whether it is best to opt for a merger between their group companies, or the liquidation of companies which no longer they wish to keep alive.
Στο παρόν στάδιο δεν έχει θεσπιστεί κυπριακή νομοθεσία που να επιτρέπει την προώθηση αγωγών αποζημίωσης προς όφελος καταναλωτών στα πλαίσια της νέας οδηγίας (ΕΕ) 2020/1828.
The Parliament has passed a new law levying on a 0.4% tax on all sales of immovable properties. The imposition of this levy is intended to serve humanitarian purposes by supporting Greek -Cypriot refugees.
Entered into force in late 2019, the amended Benchmark Regulation established the EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-associated disclosures for benchmarks.
It is subjective and highly debatable what elements comprise environmental, social or governance factors, yet the investment community has coined the term as they generally acknowledged a broad definition of ESG Investing as non-financial dimensions of a security’s valuation, performance, and risk profile.
| Cookie | Duration | Description |
|---|---|---|
| cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
| cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
| cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
| cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
| cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
| viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
