The Legal 500

Legal Developments in Cyprus

• Initial Coin Offering (ICO) Through Cyprus

  Initial Coin Offering, known as “ICO”, is a relatively new phenomenon in the crowdfunding industry being the main subject of discussion in the Blockchain and financial communities.
  - Kinanis LLC

• The new Prospectus Regulation EU

  On 30th June 2017, the European Parliament and the European Council published in the Official Journal of the European Union the Regulation (EU) 2017/1129 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “New Prospectus Regulation”).
  - Kinanis LLC

• Relocation and Retirement in Cyprus - The Tax Aspect

  Since 2004, Cyprus is a full Member State of the European Union. This fact, along with its good strategic location, highly skilled human capital, excellent infrastructure, reliable communications, relatively low cost of living, sound and stable legal system, warm climate and hospitality of its people, are some of the advantages which contribute to Cyprus’ continuous development as a competitive international financial, tourist, retirement and relocation centre.
  - Kinanis LLC

• The new EU regulation on general data protection 2016/679 (“GDPR”)

  A. INTRODUCTION
  - Kinanis LLC

• Notional Interest deduction 11/17

  Introduction
  - Kinanis LLC

• Cyprus: Changes To The Inheritance Process Under European Succession Regulation 650/2012

  The growing importance of cross border successions within the European Union and the difficulties and complications resulting from the diversity of succession and private international law rules relating to succession, prompted the European Commission to examine the possibility of introducing a Regulation that would facilitate and streamline cross border successions.
  - Soteris Pittas & Co L.L.C

• A fight against corruption by the proposed introduction of Criminal Record Certificates for Companie

  Due to existing problems with regards to companies competing for the undertaking of public projects, on the 28 th  September 2015 the Cabinet decided to give an end to the scandals involving the squander of millions of public money by approving an amendment Bill, which would add to the conditions for public tenders, the requirement of providing a Criminal Record Certificate for legal entities. Until today, this was not required due to gaps and loopholes in the existing Law. Provided this Bill will be passed into Law by its publication at the Official Gazette of Cyprus, companies applying for public tender will be asked to produce a certificate that would show they have a clean criminal record.
  - Soteris Pittas & Co L.L.C

• LIS ALIBI PENDENS UNDER THE COUNCIL REGULATION (EC) NO 44/2001 ON JURISDICTIONAND THE RECOGNITION AN

  Lis Alibi pendens is Latin for "suit pending elsewhere" . Both Articles 27 and 28 of the EU Regulation 44/2001 regulate the existence of lis alibi pendens and related judicial actions. In particular it is a doctrine that regulates the jurisdictional relationship of courts hearing concurrent proceedings involving the same or related causes of action between the same parties pending in the courts of different Member States.
  - Soteris Pittas & Co L.L.C

• The new features under the Recast Regulation 1215/2012

  The significance of the EU Regulation 44/2001 is well known as its rules determine both the jurisdiction of courts in the EU in civil and commercial disputes and the conditions for the recognition and the enforcement of their judgments in other EU member States.
  - Soteris Pittas & Co L.L.C

• ECJ CASE C-28/26 - RECOVERABILITY OF INPUT VAT OF A HOLDING COMPANY

  Case C-28/26 - Examines the right of a holding company to deduct input VAT on services acquired in the interest of its subsidiaries where those services are offered to its subsidiaries with no consideration.
  - Kinanis LLC