Articles

CYPRUS INVESTMENT PROGRAM on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2019 One of the main objectives of the economic policy of the Republic of Cyprus is to further encourage foreign direct investment and to attract high net worth individuals to settle and conduct their business in Cyprus. Key factors that make Cyprus an attractive destination for investment, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country. READ MORE

Red Notices and Law Enforcement worldwide

in Criminal Law

May 8, 2019

Criminals can flee to another country and thus try to evade justice. A Red Notice alerts police worldwide, about internationally wanted fugitives. A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action. It contains two main types of information: Information to identify the wanted person, such as their name, date of birth, nationality, hair and eye color, photographs and fingerprints if available. READ MORE

Applying for Asylum

in Immigration Law

April 11, 2019

When to apply? If you have valid reasons for seeking asylum, you must submit your application together with all your family members as soon as you arrive in Cyprus. If you entered Cyprus without authorization or documents, you must present yourself to the authorities without undue delay. If you are already in Cyprus and are afraid to return to your country because of events that occurred since your departure, you can also apply for asylum. READ MORE

“Cohabitation Agreement” and the relevant provisions of the Cyprus Civil Union Law

in Private Law

March 27, 2019

The Civil Union Law of 2015 (184(I)/2015) entered into force with the publication of the law in the Official Government Gazette on 09/12/2015. The law introduces the institution of the Civil Union in the legal system of Cyprus. The main responsibility in regard to contracting of Civil Unions is attributed to the Registrar who is the District Officer. Contracting a Civil Union and its Legal Effect With the exclusion of the Adoption Law, contracting a Civil Union has respective effects and consequences as if a marriage was solemnized under the provisions of the Marriage Law and any reference included in any legislation of the Republic of Cyprus to “spouse” shall be interpreted as a reference to the Civil Partners of a Civil Union. READ MORE

Prevention and suppression of Money Laundering

in Criminal Law

March 20, 2019

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

No Stone Should Be Left Unturned.

CYPRUS INVESTMENT PROGRAM on the basis of subsection