Annual meeting of the World Economic Forum
The latest annual meeting of the World Economic Forum took place in January in Davos, bringing together some 2,500 business and political leaders, economists and journalists. Nicholas Tsardellis and Marina Georgiou of our firm’s Nicosia office attended the event to meet clients of our firm and to promote the benefits of Cyprus as an international […]
Amendments to training, certification and watchkeeping standards enter into force
Jan 30, 2018 Author: VASSILIS PSYRRAS Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area: LITIGATION, DISPUTE RESOLUTION AND ARBITRATION
Mediation in Cyprus
Although approximately 90% of the actions filed in the Cyprus courts are resolved without a trial, there are still long delays in hearing cases. Mediation aims to reduce the the time taken to resolve disputes and the costs of access to justice. The process was introduced into the Cyprus legal system with national legislation enacted […]
Revision of the maximum permissible interest rate under article 314A of the Criminal Code
In 2011 the Criminal Code was amended by the addition of a new article 314A, which makes it a criminal offence, punishable by up to 5 years’imprisonment, a fine of up to EUR30,000 or both, for lenders to charge interest at excessive rates. The maximum permissible rate of interest, known as the reference rate, is […]
Central Bank of Cyprus clarification regarding “significant supervised entities”
The Central Bank of Cyprus has issued a clarification on its website regarding Cyprus banks which are categorised as “significant supervised entities” and supervised directly by the European Central Bank under the Single Supervisory Mechanism established by Regulation (EU) 1024/2013. These are Bank of Cyprus, the Cyprus Co-operative Bank, Hellenic Bank and RCB.
Further extension for applications to settle tax arrears by instalments
Jan 26, 2018 Author:PHILIPPOS ARISTOTELOUS Law Firm: Elias Neocleous & Co LLC Publisher: International Law Office Practice area:TAX LAW, TAX PLANNING AND ADVANCED BUSINESS STRUCTURING
Renewal of Civil Liability Certificates
The Department of Merchant Shipping has issued a reminder to registered owners, bareboat charterers, managers and representatives of ships flying the Cyprus flag regarding renewal of civil liability certificates under the CLC Convention, Bunkers Convention, Wreck Removal Convention and the Athens Convention and EU Passenger Liability Regulation. The expiry date for most of the current […]
CYPRUS CHAPTER OF “INTERNATIONAL FRANCHISING, SECOND EDITION”
Jan 24, 2018 Law firm: Elias Neocleous & Co LLC Author: ELIAS NEOCLEOUS , RAMONA LIVERA Publisher: Juris Publishing, Inc Practice area: CORPORATE AND COMMERCIAL
Revision of the EU list of non-cooperative tax jurisdictions
Eight of the countries included on the European Union list of non-cooperative jurisdictions published in December 2017 have now been removed, less than two months after the list was set up. The countries removed from the list are Barbados, Grenada, the Republic of Korea, Macao, Mongolia, Panama, Tunisia and the United Arab Emirates. According to […]
VAT On Real Estate Transactions In Cyprus in “Global Tax Weekly”
Jan 18, 2018 Author:ALEXANDRA SPYROU Law Firm: Elias Neocleous & Co LLC Publisher: Wolters Kluwer Practice area: TAX LAW, TAX PLANNING AND ADVANCED BUSINESS STRUCTURING
