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Similarly Cyprus Contract Law is identical to the English Contract Law and follows very closely the UK precedents.

On 28th July 2006 the Cyprus Company Law, Cap 113, has been amended to introduce the concept of re-domiciliation of companies provided certain conditions as laid down by the new Companies (Amendment) Law of 2006, Law No. 124(I)/2006 are satisfied.

The directors are agents of the company for which they act and they owe to the company fiduciary duties.

Foreign companies that choose to transfer their domicile to Cyprus are able to do so without winding-up their business or legal entity and are able to benefit from the advantageous tax regime...

A Cyprus company registered under the provisions of the Cyprus Companies Law, Cap. 113 may apply to a foreign country or jurisdiction to be registered and continue its existence as a legal entity under that legal regime...

A successful application for the Cyprus Citizenship means that the applicant can enjoy all free movement benefits that apply to all European Union Citizens.

The Cyprus Government may grant the Cypriot Citizenship to foreign business persons and investors on the basis of exemption, provided that foreign applicants satisfy certain financial and other criteria.

On 9th of March 2012 the Cyprus Parliament enacted Law 20(I)/2012 by which the Cyprus International Trust Law 69(I)/1992 was amended and modernized taking into account the needs arising from the international economy today.