57 results found

The Amendment of the Transfer and Mortgage of Immovable Property Law which took effect on the 13th of July 2018 marked a significant turning point for the process of foreclosures in Cyprus as it provided the legal framework ...

The world of banking and finance is undergoing rapid transformation. From the rise of digital platforms and alternative payment systems to the expanding scope of regulatory oversight, today's financial environment is more complex and fast-paced than ever.

The issuance of a Charging Order constitutes an execution method when followed by an Order for Sale of the charged asset, as provided by the Law on Charging Orders of 1992 (31 (Ι)/1992) (the ‘Law').

Mr. Petros Ioannides, who has been appointed as liquidator (the "Liquidator") of the branch of FBME Bank Ltd in Cyprus (the "Branch") pursuant to the order 123/2019...

As reported previously in Global Tax Weekly, in July 2015 the Cyprus Government introduced a notional interest deduction ("NID") on new equity capital, aimed at leveling the playing field between debt and equity finance.

The Regulation is set to enter into force on a rolling basis.

The issuance of a charging order comprises an alternative means of enforcement which is accompanied by an order for sale of the charged asset under the Law on Charging Orders of 1992 (31 (Ι)/1992)

The size of the sustainable finance market has risen considerably in recent years, surpassing a remarkable $1,6 trillion globally, as estimated by BloombergNEF.

Following the passing away of a close family member or a relative, there is a difficult but necessary legal process to be followed so that any liabilities/responsibilities of the deceased person...

The main legislation in the area of mergers control in Cyprus is the Control of Concentrations between Enterprises Law 22(I) of 1999 (the Control of Concentrations Law).

The Survey on External Financial Statistics (EFS) is a mandatory quarterly reporting requirement for selected Cyprus entities conducting cross-border financial transactions. Understanding the legal framework, submission deadlines, and potential penalties is crucial for compliance with Central Bank of Cyprus regulations and avoiding fines that can exceed €85,000.

In the recent judgment of the new Cyprus Court of Appeal dated 09/02/2024, Regarding the Petition of Evelyn Bates v. Regarding the Company M. Moniatis & Sons Ltd, Civil Appeal no. 145/2018, 9/2/2024 the following were decided:

Charges under Cyprus law, can be of a fixed and floating nature, (i.e fixed and floating charges).

The first step in the debt collection process is to send a formal demand letter to the debtor, requesting payment of the outstanding debt. If the debtor does not respond or does not pay...

Cyprus has enacted significant amendments to its judicial framework governing disputes over credit facilities secured by primary residences. The new legislation expands District Court jurisdiction to examine not only outstanding debt balances but also broader contractual issues including overcharges and unfair terms, while establishing specific procedures for challenging enforcement notices against mortgaged homes.

Most businesses in Cyprus, at some point, end up with at least one client who stops paying. Sometimes it is a cash-flow issue, sometimes it is a conscious choice to delay, and occasionally the debtor is simply betting that you will lose interest and write it off.