A Cypriot first-instance court has issued an anti-suit injunction preventing a Cypriot company from continuing a legal action filed against a foreign company before the Kazakhstan courts.

The bill, which came into force on 2nd January 2018, has amended the Value Added Tax Law.

A promissory note is an unconditional promise made in writing by one person to another signed by the maker, engaging to pay on demand or at a fixed or determinable future time, a sum certain in money, to, or to the order of, a specified person or to bearer, as defined the Bills of Exchange CAP 262, Part IV Promissory Notes (the "Law"), s. 83 (1).

Lis Alibi pendens is Latin for ‘suit pending elsewhere.’ Both Articles 27 and 28 of the EU Regulation 44/2001 regulate the existence of lis alibi pendens and related judicial actions.

In the case of Re Nicolaou Bros Tourist Enterprises Ltd (1999) 1 AAD 201, the Supreme Court of Cyprus, by adopting English legal principles ...

On 31 December 2022 the Amendments, which amend the Special Contribution for Defence Law (the "SDC Amendment") and the Income Tax Law (the "ITL Amendment"), will enter into force.

A recent decision of the District Court of Limassol has clarified the interpretation relating to Article 7(2) of the recast EU Regulation reaffirming the general principle that civil actions...

A Shareholder's Agreement is distinct from the company's constitution. Without a Shareholder's Agreement, the Company would be controlled solely and exclusively by the exercise of shareholding or directorship rights, through its constitution, and the Cyprus Companies Laws, which are generally insufficient, to protect the rights and interests of minority shareholders.

Since December 1980 the Republic of Cyprus, has been a contracting party to the New York Convention, on the recognition, registration and enforcement of foreign arbitral awards.

A discussion on whether the corporate veil of a trust can be pierced.

Many fraud cases involve complex corporate structures, incorporated in various jurisdictions some of which might cause obstacles or create problems for victims.

The above law is amended pursuant to Directive 2013/48/EU on the right of access to a lawyer in criminal proceedings and European Arrest Warrant Proceedings.

The NID rules have been introduced into our legal system in 2015 and provided that the corporate entities, including the PEs of foreign companies, shall be entitled to NID on their equity.

Cyprus Companies are in wide use as major vehicles in international tax structuring mainly due to the broad range of legal and tax related benefits they can offer because of the flexible tax system and the extended network of double tax treaties between Cyprus and other countries.

On 08 November 2012, Cyprus and Ukraine signed, after long negotiations, a new bilateral tax agreement for the avoidance of double taxation and the prevention of fiscal evasion that when in force will replace the existing Tax Bilateral tax agreement between the two States.

The sham doctrine has been inter alia applied by courts to lift the corporate veil of a limited liability company, to declare agreements as void ab initio, to determine whether a trust is a sham etc.

Amendments relating to the strike-off of a company Members and Creditors protection. Any member or creditor of a company may object to the striking-off of a company within the period of 3 months

For CySEC to grant CIF authorisation, a formal application procedure needs to be followed, and certain requirements must be met, the most important of which are stated below.

The main authority on the subject of dishonest assistance is the case of Royal Brunei Airlines v Tan [1995] 2 AC 378 according to which a person who dishonestly...

On the 9th July 2015, Cyprus Parliament passed number of new laws, which purport to make Cyprus a more attractive investment destination.