Abolition of Annual Levy
Companies established prior to 2024 were obligated to pay an annual corporate levy by June of every year amounting to EUR350 according to section 391 of the Companies Law, as introduced during the year 2011 with the Amendment Law 117(I)/2011. On 21 February 2024 the President of the Republic of Cyprus, announced the decision […]
From Open Banking to Open Finance: The Framework for Financial Data Access (FiDA)
An article by Xenia Kalogirou, Senior Associate at Elias Neocleous & Co LLC, and published on Lexology, explores the evolution of financial data access from Open Banking to the broader concept of Open Finance within the Framework for Financial Data Access (FiDA). The European Commission’s legislative proposals, including FiDA, aim to modernize the financial sector, […]
