Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 16 JULY 2013

New Decrees From Cyprus

Harneys
Explore more from Harneys

The Republic of Cyprus has issued new decrees pertaining to the relaxation of restrictive measures.

CyprusFinance and Banking
Pavlos Aristodemou
Pavlos Aristodemou
Nancy Erotocritou
Nancy Erotocritou
Emily Yiolitis
Emily Yiolitis
Author LinkedIn connections

The Republic of Cyprus has issued new decrees pertaining to the relaxation of restrictive measures. Legal updates regarding these decrees, from Harneys' Cyprus Banking Group, are below.

Enforcement of Restrictive Measures on Transactions in case of Emergency Law of 2013-Decree No. 16

The Republic of Cyprus through its Minister of Finance has published its 16th decree as per articles 4 and 5 of the Enforcement of Restrictive Measures on Transactions in case of Emergency Law of 2013 on Friday, 21 June 2013 (the "Decree"). The Decree further clarifies which restrictions are in place in relation to the use of credit and debit cards and other payment instruments including the amounts that can be withdrawn and/or transferred from such instruments. The Decree also contains a number of prohibitory measures relating to the termination of fixed term deposits which will not be analysed in this note. The Decree is in force for 14 days commencing on its publication date.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

MiCA’s Transition Ends On 1 July 2026. Is Your Crypto Business Authorised To Continue?

The EU's Markets in Crypto Assets Regulation (MiCA) transitional period expires on 1 July 2026, marking a critical deadline for crypto-asset service providers operating in Europe. Without proper MiCA authorisation by this date, businesses must cease operations and implement orderly wind-down procedures, as pending applications do not grant permission to continue providing services. This comprehensive analysis examines the regulatory requirements, compliance obligations, and strategic considerations for cryp
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

Can Cyprus Become A True Fintech Banking Hub?

Cyprus is evolving from a jurisdiction that simply attracts fintech licenses to one building genuine European fintech infrastructure. With new regulatory frameworks including PSD3, DORA, and MiCA converging, the country faces a critical question: can it develop the banking relationships, payment systems access, and institutional depth required to transform licensed entities into a truly interconnected financial ecosystem?
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

High-risk Business Incorporation: Structuring iGaming, Crypto And Adult Industry Companies The Right Way

Launching a high-risk business in sectors like iGaming, crypto, fintech, or adult entertainment requires strategic corporate structuring from the outset. This comprehensive guide examines how jurisdiction selection, ownership transparency, payment flows, and compliance preparation directly impact licensing approval, banking access, and long-term operational stability in heavily scrutinized industries.
CyprusFinance and Banking
Michael Chambers & Co LLC
Michael Chambers & Co LLC
Article

What Changed In EU Commodity Derivatives Reporting

ESMA's revised weekly commodity derivatives reporting arrangements went live on 3 September 2026, introducing updated technical requirements, validation rules and XML schema version 2.0. Businesses trading energy or other commodity derivatives must understand their specific reporting role, verify that correct information reaches the appropriate reporting party, and ensure their systems properly handle the new technical framework. Cyprus investment firms, energy traders and groups using commodity derivatives
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC