The Legal 500

Legal Developments in Cyprus

• THE DECLINE OF THE MANAGEMENT AND CONTROL TEST and THE EU DIRECTIVE 2017/828

  THE FULL DISCLOSURE OF EVERYTHING TO EVERYBODY DOCTRIN
  - Kinanis LLC

• Maltese Court Landmark Judgement – Precautionary Acts must be followed by proceedings in the EEA

  A recent landmark decision by the First Hall of the Civil Court has confirmed for the first time that in order for a precautionary warrant to remain in force, it must be preceded or followed (within 20 days), by a court case filed in Malta or in the European Economic Area (EEA).
  - Michael Kyprianou & Co

• New Beneficial Ownership Register for foreign entities which own UK property

  The UK government intends to introduce a new register of People with Significant Control over Overseas Companies, “the PSCOC Register”, in order to improve transparency of beneficial ownership for foreign entities which own UK properties. The Bill will be introduced to Parliament in 2019 and is intended to become operational by 2021.
  - Michael Kyprianou & Co

• Mad II -EU regulation (MAR) and directive (CS MAD) as protection of investors and its application to

  Protection of financial market investors and prevention of unlawful disclosure of inside information and financial market manipulation is provided and guaranteed by the EU Market Abuse Regulation (Regulation 596/2014) (MAR) and the Directive on criminal sanctions for insider dealing and market manipulation (Directive 2014/57/EU) (CSMAD), which collectively replace the previous Market Abuse Directive (MAD) and together is known as MAD II.
  - Michael Kyprianou & Co

• Cyprus: A Relocation and Headquartering Center

  WHY CYPRUS
  - Kinanis LLC

• EU Directive 2019/1151 - Formation of Companies and registration of Branches to be completed fully o

  The European Parliament and the Council of the European Union on 20 June 2019 decided to amend the existing Directive in regards to the rules and procedures on the formation of companies, registration of branches, and filing of documents and information by companies and branches (“Online Procedures”) by issuing the Directive 2019/1151 (the “Directive”). 
  - Kinanis LLC

• Cyprus Implements ATAD

  In light of EU Anti-Tax Avoidance Directive (ATAD), the Cyprus House of Representatives on April 5, 2019 voted into law (applicable from January 1, 2019) the partial implementation of legally-anti-abusive measures. These measures include the ‘interest limitation’ rule, the ‘general anti-abuse’ rule, and the ‘controlled foreign companies’ rule. The rest two measures stipulated by the EU ATAD (exit taxes and rules to tackle hybrid mismatches) are expected to be implemented in Cyprus by 2020.
  - Patrikios Pavlou & Associates LLC

• Pre-1995 Leases in Malta

  Recently, the Maltese courts may have possibly brought about the beginning of the end of a legal and social question concerning landowners who were, and still are, subjected to pre-1995 rent laws. The judgement given in  Anthony Debono et v. Avukat Generali et. , may prove to be a milestone in Maltese rent laws.
  - Michael Kyprianou & Co

• IS SILENCE GOLDEN? The added value of emergency media response plans

  In the words of  WARREN BUFFET:
  - Michael Kyprianou & Co

• Why Cyprus for Maritime?

  Recognizing the political, economic and social importance of shipping, as from 1963, Cyprus managed to develop the country into a fully-fledged shipping centre combining both a sovereign flag and a resident shipping industry, which is renowned for its high-quality services and standards of safety.
  - Michael Kyprianou & Co