I Executive summary
Cyprus, one of the very few common law jurisdictions within the
European Union, is strategically located at the cross-roads of
three continents and counts itself as a rising star in commercial
and corporate transactions. Naturally this has, especially in
recent years, led to a rise in high-profile fraud claims and
asset-tracing exercises taking place in or through the
country. Litigants benefit from the well-established Cyprus
legal system, which is heavily based on that of England, as well as
the bilateral and multilateral ties between Cyprus, the EU and
third countries, including Russia, Belarus, Ukraine and China.
II Important legal framework and statutory
underpinnings to fraud, asset tracing and recovery
schemes