Cyprus Chapter Of 'International Secured Transactions'

§ 11:1 Introduction—In general

Cyprus is a former British colony that gained independence in 1960. In 1974, Cyprus was invaded by Turkey and approximately one-third of the country remains under illegal Turkish occupation. All references to Cyprus or the Cyprus government in this chapter refer to the legitimate state and the government of that state.

When Cyprus became independent, the Constitution provided that the laws previously applicable should remain in force in the Republic, until repealed or amended by its laws. Consequently, much of the modern law of Cyprus relating to secured transactions and many other areas closely mirrors English law of the mid-20th century. In 2004, Cyprus became a member of the European Union (EU).