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Law N.87(I)/2017 on the Investment Services, the exercise Investment Activities, the review of regulated Market and other relevant issues, has only just recently been adopted by the Republic of Cyprus introducing MiFID II into Cyprus law for the purpose of implementing a more strict supervision of the Market through the addition of complimentary authorities. Cyprus...
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The European Union has established the objective of maintaining and developing an area of freedom, security and justice, inter alia, by facilitating access to justice, in particular through the principle of mutual recognition of judicial and extrajudicial decisions in civil matters. For the purposes of free circulation of judgments, a judgment issued by a Court...
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A Company Limited by guarantee is a form of companies provided for under Cyprus Companies Law (Cap. 113), although normally used only for charitable or non-profit making purposes under section 20 of Cyprus Companies Law (Cap. 113). This is similar to other companies provided for under the law, with the main differences relating to their...
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Nowadays it is very common if not essential for many companies to obtain a loan in order to grow their businesses. However, these companies, or other usually affiliated entities, will invariably need to provide a form of security to the lender for the securing of the repayment of their obligations. This article wishes to summarise...
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On the 15th of February 2017, Cyprus adopted the “Startup Visa” (Startup Permit Scheme) for third country nationals interested in residing and investing in innovative businesses in Cyprus. This National Plan will initially be applied for two years, during which 150 residence permits are available to be issued.
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A Shareholders’ agreement (SHA) is a private contract between the members of the company containing, amongst others, the rules for running and owning the company. A SHA regulates that relationship as well as setting the grounds in the event of a deadlock. It is important for the shareholders to enter into a SHA before, or...
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A patent is the legal instrument provided nationally, on a European level and/or internationally, for the protection of any manufacture used for, amongst others, industrial purposes. By registering a patent, an inventor will exclude others from commercially exploiting the invention for a limited period, in return for the disclosure of the invention.
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On the 24th of February 2017 Cyprus’ House of Representatives has ratified the Hague Trust Convention with Law N. 4(ΙΙΙ)/2017 relating to the Hague Convention on the law applicable on trusts and the recognition thereof (Ratifying) Law.  The Hague Convention on the law applicable on Trust is a multilateral treaty developed by the Hague Conference...
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The Cyprus Companies Law, Cap. 113 provides three methods for winding-up a Cyprus company: voluntary winding-up (either by the members or by the creditors); involuntary winding-up by its creditors; and voluntary winding-up by the Court or winding-up subject to the supervision of the Court.
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We would like to take this opportunity to inform you of important amendments introduced to the Cypriot Citizenship by Investment (CBI) program on 16 September 2016 (as published in the official Government Gazette). These changes further solidify Cyprus’ position as having the leading EU CBI program.  A summary of the main amendments to the program...
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