Articles

Prevention and suppression of Money Laundering activities and financing of Terrorism Legal and regulatory framework According to section 59(1)(a) of the Prevention and Suppression of Money Laundering Activities Laws of 2007 to 2018 (the AML/CFT Law), the Central Bank of Cyprus (‘CBC’) is the competent authority for the enforcement of the provisions of the legislation in relation to the financial activities of entities supervised by the CBC, which include credit, payment, electronic money, currency exchange, leasing and credit acquiring institutions. READ MORE

The Cyprus’ General Healthcare System (GHS): An Overview

in Medical Law

March 13, 2019

The General Healthcare System (GHS) is modern, patient-centric healthcare system with the aim of delivering quality healthcare services to beneficiaries. The main features of the system are: Universal coverage of the population Equal and equitable treatment of all beneficiaries Provision of a comprehensive package of healthcare services Freedom of choice of provider by the beneficiaries Social reciprocity For the implementation of the GHS, a special fund was established for purposes of gathering the relevant contributions, and from which all payments to providers of healthcare services will be made. READ MORE

Recent Amendments to the Cyprus Companies Law

in Company Law

March 5, 2019

Recent Amendments to the Cyprus Companies Law Cap. 113 (Law 149(I)/2018) – with an aim to modernize and streamline the filing and registration requirements and processes with the Registrar of Companies. Introduction of Administrative Fines for late filings The Registrar of Companies shall impose an administrative fine for late filing of the below notifications to the Registrar of Companies. The fine shall amount to €50 plus €1 for every day for which the default continues, such fine not to exceed the amount of €250 for each default – effective as of 18 December 2019: READ MORE

Cyprus Non-Dom Tax Residency

in Tax Law

February 28, 2019

Obtain Cyprus tax residency & non-domicile individual status by staying 60 days in Cyprus The low tax jurisdiction of Cyprus is very popular with foreign individual entrepreneurs who wish to benefit from its advantageous business and tax environment. With low tax rates on both income taxation for private individuals and corporate taxation of companies among other benefits, it is no surprise the Cyprus is one of the best places to relocate amongst EU Member States. READ MORE

Brexit and Cyprus’ Entry requirements for British Citizens

in European Law

February 12, 2019

The authorities in the country or territory you’re travelling to are responsible for setting and enforcing the rules for entry. If you’re unclear about any aspect of the entry requirements, or you need further clarifications, you’ll need to contact the embassy, high commission or consulate of the country or territory you’re travelling to. You should also consider checking with your transport provider or travel company to make sure your passport and other travel documents meet their requirements. READ MORE

Sale of Intoxicating Liquors, in Cyprus

in Commercial Law

February 5, 2019

In order to sell, offer to sell, or hold with the purpose to sell alcoholic drinks in the Republic of Cyprus, one needs to obtain the license for the sale of intoxicating liquors (retailer’s license and dealer’s license) by the Municipality, within which the premises are located, or in any other case by the District Officer of the District, within the boundaries of which the premises are located. A retailer’s license is to be obtained in the case of retail sale of alcoholic drinks in specific premises or place for the consumption either inside or outside the premises/place. READ MORE

THE “GREEK GOLDEN VISA” SCHEME

in Immigration Law

January 29, 2019

The golden visa scheme in Greece offers an affordable real estate investment route to permanent residency in Europe. Following the launch of several European investment visa schemes it was introduced by the Greek government in 2013 to encourage investment into Greece. Investment An investment of €250,000 is required in real estate in Greece making the Greek scheme the lowest investment level of any real estate residency visa scheme in Europe. The property, which can be located anywhere on the Greek mainland or the islands, can be either residential or commercial. READ MORE

Flight Delay Compensation

in European Law

January 22, 2019

Although you may experience flight delays, that doesn’t mean you have to accept them. The EU law concerning air passenger rights is officially known as Regulation (EC) No 261/2004 of the European Parliament and of the Council of 11 February 2004. That’s quite a mouthful, so we just call it EC 261. It’s a European law that requires airlines to compensate passengers for long flight delays, cancellations, and in situations where they are denied boarding. READ MORE

Winter health and safety tips for businesses

in European Law

January 15, 2019

With this in mind, here are some winter health and safety tips for your business: MAKE SURE YOUR WORKPLACE IS WELL LIT The days are shorter and for most businesses, employees will be arriving and leaving the workplace in the dark. Make sure internal and external lighting is fully operational, and check with your staff to ensure all areas have been assessed. REVIEW YOUR LONE WORKING PROCEDURES For the same reasons as before, it is important to look after your staff when lone working or working remotely, especially during cold weather. READ MORE

Health and Safety at Workplace

in Labour Law

January 9, 2019

Notification of Work Accidents to the competent Authority Introduction New regulations concerning the reporting of Accidents and Dangerous Occurrences came into effect on the 7/12/2007. These new Regulations named as “The Safety and Health at Work (Accidents and Dangerous Occurrences Notification) Regulations of 2007 (P.I. 531/2007)” have substituted the previous “Accidents and Occupational Diseases (Notification) Law, Section 176”. What is defined as “accident”? According to the above mentioned Regulations, the term “Accident” is defined as a discrete event which causes physical or mental harm or loss of life to: READ MORE

No Stone Should Be Left Unturned.

Prevention and suppression of Money Laundering

The Cyprus’ General Healthcare System (GHS): An Overview

Recent Amendments to the Cyprus Companies Law

Cyprus Non-Dom Tax Residency

Brexit and Cyprus’ Entry requirements for British Citizens

Sale of Intoxicating Liquors, in Cyprus

THE “GREEK GOLDEN VISA” SCHEME

Flight Delay Compensation

Winter health and safety tips for businesses

Health and Safety at Workplace

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