Legal Articles

An EU passport includes the right to live and work in any EU member-state. Following, the result of the UK referendum, the UK citizens will 

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Binary Options trading is a straightforward way to trade price fluctuations in multiple underlying financial assets. The underlying asset can be a currency pair (i.e. 

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The Council of Ministers of the Republic of Cyprus approved the Cyprus Start Visa for non-EU citizens aiming at promoting investments in Cyprus in the 

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Animal welfare denotes the well-being of animals, a vital component for the preservation of the ecosystem. The Cyprus legislation for the protection and safeguarding the 

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Cyprus signed the Organization of Economic Cooperation and Development (OECD) Multilateral Competent Authority Agreement (MCAA) on Country-by-Country (CbC) Reporting on 1st November 2016. Afterwards, the 

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The Leasing Law (72(I)/2016) entered into force on 28 April 2016. The purpose of this Law is to regulate and supervise the provision of financial 

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Interim orders or injunctions are temporary court orders which oblige someone to act or not to act in a specific way. One of the primary 

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The mission of CySEC is to safeguard investors protection and the healthy development of the securities market. Furthermore, the vision of CySEC is to establish 

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Nowadays, the internet is embedded in almost every aspect of daily and business life. People use Information and Communication Technologies (ICTs) to network, to communicate, 

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Natural and legal persons involved in legal proceedings send and receive various judicial and extrajudicial documents. ‘Service of documents’ denotes the delivery of legal documents 

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Tax avoidance and improvement of Single Market for businesses are among the main concerns of the European Union. Specifically, the European Commission aims at reinforcing 

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Circular 2016/15, issued on 24 November 2016, by the Cyprus Tax Department, defines the application of Article 33 of the Income Tax Law (118(I)/2002), as 

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Banc de Binary, one of the biggest global providers of online trading in binary options renounced its authorisation. Furthermore, the company was a sponsor of 

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Cyprus is a leading ship management centre. Specifically, Cyprus is the third biggest maritime fleet in the EU and the tenth biggest fleet in the 

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The Ministry of Finance of the Republic of Cyprus announced that the state authorities of Cyprus and Russia have agreed to postpone the implementation of 

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Cyprus Companies Law (Cap. 113) provides that every private company shall have at least one director and every public company shall have at least two 

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Foreign currency loans and mortgages embed a considerable risk due to exchange rate fluctuations which may increase the cost of borrowing.  Loans and mortgages in 

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Business development is a fundamental component of profit maximisation. Among the primary objectives of business development practices are to find clients, and establish strong relationships 

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Shipping is one of the most important sectors of the Cyprus economy. Furthermore, Cyprus is a significant international shipping hub. Specifically, Cyprus is the third 

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Land is considered as one of the most valuable commodities, so its value is steadily increasing. Moreover, land investment is interrelated with high social and 

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Riding a motorcycle embraces freedom and a considerable range of risks. For instance, motorcyclists are more likely to die or be seriously injured in a 

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Football is one of the most popular sports worldwide. Specifically, football is considered to be the king of sports as it is associated with entertainment 

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The sports industry is becoming more and more commercialised and globalised. As a result, athletes, coaches and other stakeholders engaged in the sports industry are 

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Increased mobility and international families are two of the primary outcomes of globalisation. That is to say, spouses may come from different countries, they may 

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The evidence law refers to the rules and legal principles that define the proof of facts in a legal proceeding. As the available evidence shapes 

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‘New Online Betting Regulations will create significant prospects for the economy.’ Harris Georgiades, Minister of Finance Online betting regulations, together with other measures concerning the 

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The Cyprus government launched the Cyprus Citizenship by Investment Programme in order to give incentives to foreign investors and business people to implement their business 

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A person (the testator) determines the ways in which his/her immovable and movable property will be distributed after his/her death through a will. However, in 

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Estate planning is a sensitive matter, consequently, many people avoid addressing it. However, it should be pointed out that estate planning is an important matter 

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Estate planning denotes the process of arranging the disposal of someone’s property, including immovable and movable property after his/her death. Obviously, estate planning may eliminate 

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Pokemon GO is an augmented reality game that embeds virtual creatures in the physical space. Therefore, virtual and physical space co-exist as the virtual creatures 

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The provisions of Termination of Employment Law (24/1967) regulate and define the rights and obligations of employers and employees in case of termination of employment. 

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Insurance represents a contract, in which an individual or a private entity receives financial protection or reimbursement against unexpected losses from an insurance company. In 

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Cyprus has extended its network of double tax conventions by concluding an agreement on the avoidance of double taxation on income with Jersey. Jersey is 

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The favourable tax regime together with many other benefits, such as the well-developed and transparent legal system, attract business people and investors to launch their 

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The term animal welfare denotes the well-being of animals. In Cyprus, the law for the protection and safeguarding the health and welfare of animals (46(I)/1994) 

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Parental care is an important aspect of divorce proceedings. Specifically, child maintenance is an important matter that needs to be taken into consideration as parents 

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Divorce is a highly delicate area of family law. An important thing that needs to be clarified is that divorce does not entirely terminate the 

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The geographical location of Cyprus together with other considerable advantages and well-developed business infrastructures constitute Cyprus an attractive location for international business activities. Cyprus is 

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The Government of the Kingdom of Bahrain and the Government of the Republic of Cyprus concluded an Agreement for the avoidance of double taxation with 

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The double tax treaty between the Republic of Cyprus and the Republic of Latvia will strengthen the economic and commercial relations between the two countries. 

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In October 2015 the Cyprus Tax Department issued the Circular 2015/13 aiming at creating a stable and credible tax system and establishing new procedures for 

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Prevention and monitoring of money laundering, as well as the financing of criminal and terrorist activities, is a significant factor that influences the efficient and 

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The Circular C132, issued by the Cyprus Securities and Exchange Commission (CySEC), contains additional guidelines concerning the legal and natural persons that are included in 

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On Wednesday 1st of June 2016, the Council of Ministers of the Republic of Cyprus approved the following: the reduction of the immovable property tax 

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In 2012 the Cyprus Parliament passed a Law regarding the annual levy on Cyprus Companies. Following the provisions of Companies Law (Cap. 113), all companies 

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The Department of Merchant Shipping has updated its guidelines to operators of ships calling at ports in the Republic of Cyprus concerning reporting procedures under 

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Cyprus is one of the most important maritime locations in the world. Precisely, Cyprus is the third biggest maritime fleet in the EU and the 

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Civil marriage in Cyprus is governed by the provisions of Marriage Law (104(I)/2003) and it is under the jurisdiction of municipalities. Specifically, a civil wedding 

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The civil partnership (Law 184(I)/2015) legitimises the union between two individuals, regardless of gender. In other words, the civil partnership permits same-sex and opposite-sex couples 

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The major legislation that regulates mergers and acquisitions in Cyprus is the Companies Law (Cap. 113). In particular, the sections 198-202 contain provisions about mergers, 

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The Association Agreement between Cyprus and the European Economic Community entered into force in the late 1980’s. As a result, Cyprus was obliged to establish 

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On the 31st of July 2015 and 18th of January 2016 the EU adopted the following legislative instruments concerning restrictive measures against Libya: EU Council 

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Banking is one of the most important sectors of the economy since it influences investment and consumption. Confidentiality is a cornerstone element of an effective 

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Personal data defines any information relating to a natural living person. Some illuminating examples are the number of our identity card, passport, date of birth, 

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The leak of 11.5 million confidential documents of the Panamanian law firm Mossack Fonseca revealed how rich and powerful people use tax havens to hide 

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Confidentiality and data protection are two vital issues in almost all business, social and employment matters. Specifically, data protection is an emerging topic that public 

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The Employment Law (100(1)/2000) in Cyprus includes both statute and case law. Specifically, Cyprus statute law contains issues related to the termination of employment, paid 

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Estate planning is the process of arranging the disposal of someone’s movable and immovable property after his/her death. It should be mentioned that estate planning 

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The geographical location of Cyprus between Europe, Asia, the Middle East and Africa together with the well-established legal, banking and accounting infrastructures urge local and 

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The Alternative Investment Funds Managers’ (AIFMs) Law, 56(I)/ 2013, aligns the Cyprus regulatory framework with various EU regulations on Alternative Investment Managers (AIMs). Specifically, the 

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Foreign exchange trading (FOREX) is an innovative type of business that brings together buyers and sellers from all over the world regardless of time and 

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A domain name is an identification string defined by the rules and procedures of the Domain Name System (DNS).  It should be pointed out that 

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Estate denotes the movable and immovable property someone processes during his/her lifetime. As a result, estate administration is strongly related to all the procedures of 

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Banking is one of the most important sectors of the world economy as it influences investment, consumption and other business activities. Furthermore, banking has a 

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Charges and mortgages are two instruments that ensure creditors’ protection.  Precisely, all creditors need to ensure that they will receive payment for their services or 

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Cypriot investment firms (CIFs) provide investment services on a professional basis inside or outside Cyprus.  A CIF cannot offer professional investment services without being licenced 

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Parental care is the right and duty given to both parents, to take important decisions concerning the life of their children.  In Cyprus, parental care 

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Criminal law is a set of regulations that indicate the actions the society disapproves.  A criminal wrong differs from civil wrong.  Precisely, a criminal wrong 

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Police announced that during January, more than 7.000 drivers had been breathalysed in the whole country, and the 8.25% found to be over the legal 

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Cyprus is a major financial and investment centre in the EU and internationally.  As a result, there is a requirement for an effective and efficient 

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Shipping is among the most important sectors of the Cyprus economy. In addition, Cyprus is one of the biggest fleets in the EU and internationally. 

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Cyprus is an attractive location for immovable property investments for many reasons.  On the one hand, the considerable law taxation schemes, the reliable legal framework 

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The legal team of Michael Chambers& Co. LLC would like to inform you about the amendment of Law 144 (I)/2015, which introduced the partnership limited 

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The legal team of Michael Chambers& Co. LLC is able to assist ‘trapped’ buyers to obtain Title Deeds. The amendment of Transfers and Mortgaging Property 

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The services of Michael Chambers& Co. LLC are available also in Russian. The Cyprus taxation scheme together with the simple bureaucratic procedures motivates business people 

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Employers have a duty of case and responsibility in protecting their employees, business partners, independent contractors and visitors. In other words, employers must take the 

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Cyprus is among the most significant business and investment centres in the EU and internationally. The considerable tax incentives together with the limited bureaucratic procedures 

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An accident caused by poor road maintenance or by negligent driving may lead to a severe personal injury or death. The victim and his or 

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Personal injury denotes the pain caused by another party’s negligence. Particularly, in Cyprus, personal injury is under civil law (Cap. 148) and is based on 

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Medical malpractice is an example of negligence that may cause a severe personal injury or death. Precisely, medical malpractice denotes a legal offense that happens 

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The 26th November 2015 the Cyprus Parliament approves the civil partnership legislation. The Law 184 (I)/ 2015 denotes that the union of heterosexual and LGBTQI 

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The island of Cyprus is a well-known historical and touristic destination. The fantastic weather together with the ancient history and legends constitutes the island an 

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In the article “Registration of Ships in Cyprus” Michael Chambers presented the essential information about eligibility criteria and ship registration procedures. Cypriot and European citizens 

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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, 

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Low taxation and straight forward bureaucratic procedures attract business people and investors from all over the world to invest in the Republic of Cyprus. Cyprus’ 

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Shipping is an important sector of the Cyprus economy. Consequently, shipping finance constitutes an essential part of Cyprus shipping industry. International and national financial institutions 

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Cyprus is a major international shipping centre. In the article “International Shipping Companies Choose Limassol,” Michael Chambers explained the major incentives that motivate international shipping 

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Loans and mortgages in SWISS FRANC became popular in Cyprus after 2006, the year when the Republic was a candidate country to assess the EURO 

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Cyprus is a leading market in ship management. Tax incentives and well-developed business infrastructures attract ship owners and shipping companies from all over the world 

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An important dimension of Family Law is parental care. In general, the term parental care denotes the right and the responsibility of parents towards minor 

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Among the most important parameters of a marriage dissolution or annulation is the division of assets. That is to say, either party has the right 

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Intellectual property is the field area of law that approaches the protection of the rights of the creators of original works. It includes everything, i.e. 

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Despite the global perspective of internet, online gambling regulations are not universal. That is to say, each region has its own jurisdictions that cover the 

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The International Trust Law (No. 69/1992) legislation facilitates the formation and administration of an international trust. The law built on the existing Cyprus trust legislation 

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Cyprus is the third biggest maritime fleet in the EU and the tenth biggest fleet in the world. Generally speaking, Cyprus is a strategic market 

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The Council of Ministers updated the conditions for naturalisation of investors in Cyprus by exception, based on subsection (2) of section 111A of the Civil 

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In Cyprus, an individual can distribute his/her estate by drafting a Will. In case, a deceased person had not prepared a Will during his/her lifetime 

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The Council of Ministers updated the conditions for naturalisation of investors in Cyprus by exception, based on subsection (2) of section 111A of the Civil 

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In Cyprus, an individual can distribute his/her estate by drafting a Will. In case, a deceased person had not prepared a Will during his/her lifetime 

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Criminal law is a set of legal regulations that determine the actions that society condemns. A criminal wrong describes an action that inexcusably and unacceptably 

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Ship arrest practice in the Republic of Cyprus is enforced by the Administration of Justice Act Part 1 of the Arrest Convention in 1952, as 

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Admiralty litigation in Cyprus has increased significantly, as a consequence of the distinctive status of Cyprus as a leading worldwide maritime hub. Admiralty law refers 

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Investors and companies around the world have been benefiting from advantageous corporate structures and favorable tax regimes for years in order to increase profitability. With 

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The Council of Ministers updated the conditions for naturalisation of investors in Cyprus by exception, on the basis of subsection (2) of section 111A of 

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The turbulent banking crisis in the Republic of Cyprus triggered disputes among the EU with regard to whether depositors should be protected from bail-ins or 

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The Supreme Court on Friday, 7 of March, delivered its long-awaited decision with regard to the appeals lodged by Laiki’s and BoC’s depositors who lost 

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The judicial proceedings against the haircut on Laiki and Bank of Cyprus’ depositors are ongoing. The objective of the applications filed for judicial review is 

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Supreme Court of Cyprus – Update on legal actions against Bank of Cyprus & Laiki Bank,“haircut” The Cyprus’ Supreme Court on April 23, 2013 began 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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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 

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