Use of electronic certificates
The Deputy Ministry of Shipping has recently issued a circular informing Recognized Organizations and Recognized Security Organizations, and registered owners, bareboat charterers, managers and representatives of ships flying the Cyprus flag that it now accepts statutory certificates issued to Cyprus-flagged vessels by Recognised Organizations in electronic form, provided that they satisfies the requirements of the […]
Important tax deadlines on 31 July 2018
The Cyprus Tax Department has issued a reminder to taxpayers that employers’ income statements for the tax year 2017 must be submitted by 31 July 2018. In addition, 31 July is the deadline by which companies and self-employed and other individuals whose income is not taxed under the PAYE system must pay the first instalment […]
World Intellectual Property Rights and Remedies
Author: RAMONA LIVERA Law Firm: Elias Neocleous & Co LLC Practice area: INTELLECTUAL PROPERTY
Submission period for applications to settle tax arrears by instalments extended
Author: CONSTANTINOS CHRISTOFI Law Firm: Elias Neocleous & Co LLC Publisher:International Law Office Practice area: CORPORATE AND COMMERCIAL
Amendments to facilitate reduction of non-performing loans
On 8 July the Cyprus parliament approved a package of legislative measures aimed at creating market security, stability and growth, and strengthening the legal framework to deal with non-performing loans. The principal changes are as follows: · The Transfer and Mortgage Law of 1965 has been amended to make it possible, in the case of […]
International Execution against Judgment Debtors
Author: CHRYSANTHOS CHRISTOFOROU Law Firm: Elias Neocleous & Co LLC Practice area: LITIGATION AND DISPUTE RESOLUTION
Reduction of non-performing loans in the Cyprus banking sector
The Central Bank of Cyprus (CBC) has recently published its latest analysis of data on non-performing loans in the Cyprus banking sector, covering the period to 31 March 2018, showing aggregate non-performing facilities (NPFs) and related indicators for the domestic operations of credit institutions operating in Cyprus. Overseas operations are excluded. During the month of […]
Why complying with the GDPR is of vital importance for every organization
The EU General Data Protection Regulation has now been in effect for more than a month, and the changes it introduced have already been noticed by most businesses and the people whose data they use. Complying with the GDPR is of paramount importance as regards the protection of the right to privacy and of the […]
Amendment of the Immovable Property (Tenure, Registration and Valuation) Law
The Immovable Property (Tenure, Registration and Valuation) Law, Cap. 224, has been amended to require government departments and courts to notify owners of property about decisions that may affect their property. Law 71 of 2018 inserts a new section 75A into the law providing that any decision, notification or disclosure of any authority under the […]
Tax Department aims to streamline payment of tax liabilities
Author: ELENA CHRISTODOULOU Law Firm: Elias Neocleous & Co LLC Publisher:International Law Office Practice area: CORPORATE AND COMMERCIAL
