Legal Articles

  • Supreme Court of Cyprus – Update on legal actions against Bank of Cyprus & Laiki Bank “haircut” - Supreme Court of Cyprus – Update on legal actions against Bank of Cyprus & Laiki Bank,“haircut” The Cyprus’ Supreme Court on April 23, 2013 began reviewing appeals filed against the [...]
  • Suffering Depositors Taking Legal Actions against Banks - The main condition for Cyprus to get the €10 billion loan package, as agreed between the government and the Eurogroup, is the restructuring of the country’s two leading banking institutions, [...]
  • Benefits Enjoyed by Cyprus Shipping Companies - With the global economic turmoil having a huge effect on the worldwide shipping industry, the visionary policies of Cyprus are demonstrating high levels of commitment towards ensuring the growth and [...]
  • Cyprus Developments on Banking Sector – Overcoming the Difficulties - Cyprus is struggling with the worst crisis in its history since the 1974 invasion by Turkish military forces that divided the country in two. The island’s banking sector, holding assets [...]
  • Protecting Your Assets Through Trust Formation - High-net-worth individuals with valuable possessions around the globe need effective asset protection tools to manage and safeguard their wealth, as a respond to the differing legislations and tax regulations of [...]
  • New Law Enhances Maritime Security for Cyprus Registered Vessels - Cyprus boasts the third biggest maritime fleet in the EU; the tenth biggest fleet in the world. It is a market leader in ship management and as such security and [...]
  • Company Creation - When creating a company in Cyprus promoters will most often be given the choice of creating the company from scratch (tailor made) or buying a company that has already been [...]
  • Dissolving a Marriage in Cyprus - One in five marriages in Cyprus will end in divorce.  Family law provisions on the island are complicated by changes in the law made in 2003 which means that different [...]
  • Naming Your New Business - Having decided to create a new business in Cyprus, one of the first considerations a promoter of that business will have will be what to name the new entity. Whilst [...]
  • Pledges - What is a Pledge  A pledge is a form of real security giving the creditor (“pledgee”) proprietary rights over named property belonging to the debtor (“pledgor”).  The pledgee has the [...]
  • Compensating for Lost Property in TRNC - The aftermath of the 1974 occupation by Turkey of the northern part of Cyprus and subsequent division of the island is still keenly felt by citizens of both the Republic [...]
  • Standard Terms and Conditions of Business - Any business that regularly enters into terms (for example for the sale or purchase of goods) that are often the same or similar can benefit from creating its own standard [...]
  • New Limitation Provisions Enacted - New limitation provisions came into effect on 1st July 2012.  After a succession of laws passed since 1964 to extend the suspension of the Limitation of Actions Law, Cap 15, [...]
  • Special Considerations in International Sales Agreements - International sales contracts constitute a specialist area of law that raise unique considerations when compared with domestic counterparts.  Commercial law, responding to the requirements of the international trading community as [...]
  • Considerations When Writing Your Will in Cyprus - Although it is often said that a person may not make a Will in Cyprus, this is in fact a gross oversimplification of the legal provisions regarding inheritance in Cyprus.  [...]
  • New VAT Rules Encourage First Time Buyers in Cyprus - New VAT provisions were brought into effect on 8th June 2012 designed to encourage first time buyers in the Republic of Cyprus.  Law N73 (I)/2012 amends the VAT Law by [...]
  • VAT in Cyprus - Value Added Tax is a tax charged on every taxable supply, by a taxable person, of goods and services within the Republic, other than an exempted supply.  It is also [...]
  • The New and Improved Cyprus International Trusts Law - The law on international trusts in Cyprus has undergone considerable changes this month with the enactment of a new law[1] that amends the International Trusts Law[2].  The amendments have been [...]
  • Capital Gains Tax in Cyprus - Capital Gains Tax (“CGT”) is a tax imposed on capital gains made by companies and individuals in Cyprus. Application It is applied to any gain that is attributable to: -          [...]
  • An Introduction to Personal and Business Income Tax in Cyprus - In a challenging financial climate, it has never been more important to comprehend the system of taxation in the jurisdictions in which you operate.  One needs to be fully aware [...]
  • Double Tax Treaties in Cyprus - The Cyprus government’s fiscal policy clearly embraces tax incentives for foreigners, which act as a considerable inducement for those wishing to conduct international business on the island.  One of the [...]
  • Confidentiality Agreements - Protection of confidential ideas, processes and creations are an exceptionally important element of most businesses.  The law rewards the revelation of certain business ideas into the wider market by allowing [...]
  • Copyright in Cyprus - Copyright is a right granted to the creator of an original work to exclusive use of that work for a period of time limited by law. In Cyprus copyright is [...]
  • Patent Protection - A patent is a right to ownership of an invention granted to the inventor by the government.  It allows the patent owner exclusive use of (and the right to license [...]
  • Action for Infringement of Trademark - The logo, symbol or design of a company is a commodity that serves to distinguish the goods or services of one company from those of its competitors.  Once created, a [...]
  • Registering a Trade Mark - A trademark is a distinctive sign or indicator that is used by a business or an individual to distinguish his goods or services from others on the market.  The trademark [...]
  • Evading Difficulties When Buying Property in Cyprus - Each year hundreds of buyers are attracted to purchasing real estate on the island of Cyprus.   With a system of registered land and a legal process broadly based on that [...]
  • The Costs of Purchasing Property in Cyprus - When buying property in Cyprus there are a number of additional costs and taxes of which every buyer should be aware prior to committing to an acquisition.  It is extremely [...]
  • Distributorship Agreements - A distributorship agreement is one that is made between the supplier and distributor of goods. The relationship is different in nature to other possible models of supply such as agency [...]
  • Agency Agreements - In 2006 a tennis tournament sponsor sued Venus and Serena Williams for non-attendance at their event.  The sponsor claimed that the tennis stars were obliged to attend by virtue of [...]
  • Agents - The term “agent” or “agency” must be used with particular caution in Cyprus as the law attaches a special significance to an agency relationship. In some cases the term “agency” [...]
  • Inheritance in Cyprus - Benjamin Franklin famously declared that “in this world nothing is certain but death and taxes”. Estate planning is a sensitive issue, which many people are reluctant to address, but considering [...]
  • Product Liability in Cyprus - Consumer protection demands that producers of products are responsible for the safety of the goods they manufacture and that, in the event that they are faulty, appropriate avenues of action [...]
  • Insolvency in Cyprus - When a company is created it enjoys a separate legal identity of its own and, as such, when it stops operations a specific procedure must be followed in order to [...]
  • Property Litigation in Cyprus - Property is one of the most valuable assets that a person or a company can own and it is perhaps by virtue of this value that property tends to attract [...]
  • Contractual Disputes - A contract is a written agreement made between the parties which states the terms of their legal relationship.  Every contract will contain different terms and conditions concerning the bargain it [...]
  • The Litigation Process in Cyprus - Litigation refers to the dispute resolution process through the courts.  Having been a British colony until 1960, the Cypriot legal system and rules relating to litigation are primarily based on [...]
  • Arbitration in Cyprus - Arbitration is a consensual legal technique for resolution of disputes without the necessity to refer the matter to court.  The parties to a dispute voluntarily refer the matter to an [...]
  • Considerations when Registering under the Cyprus Flag - There is a vast array of benefits available to those wishing to register a shipping vessel under the Cypriot flag.   In terms of geographical location, infrastructure, safety and efficient operations [...]
  • Advantages of Registration under the Cypriot Flag - Cyprus is a major ship management centre and its flag holds an envious reputation worldwide.  The Cypriot Register now ranks 10th in size internationally and represents the third largest fleet [...]
  • Key Considerations in Commercial Contracts - Every kind of commercial contract will have its own individually negotiated and agreed terms (for example what is to be supplied; where; how; when; the price for supply; quality etc) [...]
  • Cross Border Investment Firm Activity -   Activities of all investment firms in Cyprus are governed by CySEC, the Cyprus Securities and Exchange Commission.  CySEC is responsible for authorising investment firms to undertake investment and ancillary [...]
  • Investment Firms in Cyprus - In the Republic of Cyprus (in accordance with EU law) only certain persons and companies are permitted to undertake investment services and activities (for a full list of such regulated [...]
  • Characteristics of key legal entities in Cyprus - There are three primary established business media in Cyprus: companies; partnerships and sole traders. Sole traders tend to represent smaller operational concerns and therefore, as a business takes off, many [...]
  • Considerations when creating a company in Cyprus - Cyprus undoubtedly offers a considerably advantageous base for any business.  Offering a highly beneficial taxation system (which boasts one of the lowest rates of tax on corporate profits in Europe [...]
  • Recordal of a trade mark licensed user with the Registrar of Companies in Cyprus - In Cyprus the registration of trademarks with the Registrar of Companies is governed by the Cyprus Trade Mark Law, CAP 268 and the Trade Mark Rules 1951 as amended. Cyprus [...]
  • Temporary Transfer Fee Reduction Approved - On Thursday 3rd November the House of Representatives in Cyprus voted to approve a Bill aimed at reducing transfer fees in property transactions.  The draft bill is under finalisation and [...]
  • Cyprus: an advantageous venue for Incorporation - Each year thousands of new companies are registered with the Registrar of Companies in Cyprus.  In 2010, 19278 new companies were registered and 2011 looks set to top that figure.  [...]
  • Cyprus Divorce - Statistics According to the latest demographic report of the Statistical Service of Cyprus for the year 2009, the number of divorces is increasing.  Particularly, in 2009 the number of divorces increased to 1738, compared to 1639 for 2008.  Main ground [...]
  • Buying property in Cyprus - Cyprus is considered one of the safest European countries to invest in since its market is growing at a stable rate and its prices are competitive.  If every perspective purchaser [...]
  • The Supremacy of European Union Law over the Constitution of the Republic of Cyprus - Cyprus was a British colony until 1960 and as such the Cyprus legal system was highly influenced by the English legal system and the principles of common law and equity [...]