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Legal
Summary of the decisions 23 and 25-2019

Dec 06, 2019

Louka Andreas

The above decisions concern an application to the Tenders Review Authority against a decision of the Municipality of Nicosia to award the procurement for the supply and replacement 7,295 street lighting fixtures in the territory of the Municipality of Nicosia, to ESCO AHK.

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Corporate
Permanent Residence and Citizenship under Cyprus law

Dec 06, 2019

Petrou Angelika

Cyprus is an island which enjoys an intense Mediterranean climate, offers high standards of living and an attractive and transparent tax regime, compliant with EU, OECD and international laws and regulations. 

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Corporate
A Guidance on Taxation of Intra-Group Financing Transactions

Dec 06, 2019

Latzia Anna

The Cyprus Tax Authorities (the “CTA”) issued on 30 June 2017 a tax circular (the “Circular”) regulating the Transfer Pricing rules in relation to the companies which carry out back-to-back intra-group financing transactions in Cyprus. 

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Advisory
The EU legal mechanisms on bank insolvency and resolution.

Dec 05, 2019

Xiourouppa Despina

After the recent financial crisis, the EU adopted a number of measures to harmonise and improve the tools for dealing with bank crises in its member countries.

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Advisory
The different options available to the mortgaged lender, after a failed attempt of foreclosing the mortgaged property

Dec 04, 2019

Papathoma Maria

According to the ʺThe Immovable Property (Transfer and Mortgage) Law of 1965 (9/1965), part VIA, the mortgaged lender has the right to set an auction for mortgaged property, only if all the requisite by the Law requirements are fulfilled and the process which the Law implies is followed exactly as described.

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Advisory
Rescue Culture within the Cypriot Legal System

Dec 04, 2019

Mylona Gabriella

̀ Failure is a part of taking risk; business failure is a consequence of the misjudgement of operating risk… Nonetheless, it is axiomatic that failure will always be a possibility of a business venture because it is one outcome on a range of possible outcomes for the taking of risk ́ .

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Advisory
Economic Duress

Dec 04, 2019

Christodoulou Emilia

The section 15 of the Contract Law, Cap 149 provides the meaning of the term duress. According to the section 15, the term duress supersedes free consent and/or free consent in order to enter to an agreement.

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Advisory
Minimizing Accountability: Regulating White Collar Crimes

Dec 03, 2019

Neophytou Anna Maria

White Collar Crimes are a well-known and prevalent problem that influences a company’s equity and reputation, comity and profitability of the corporate entity involved.