As part of the government’s strategy for attracting businesses for activities or/and expansion of their activities in Cyprus, on 15 October 2021, the Council of Ministers approved the implementation of a Digital Nomad Scheme in Cyprus for the issuance of 100 temporary residence permits, subsequently increased to 500 in March 2022. The Cyprus digital nomad...Read More
We are very excited to announce our support for the Cyprus Computer History Museum, located at Kyriacou Matsi 60, 1st Floor, 2409, Engomi, Nicosia. The Museum will open again in May 2022 with special events and pre-scheduled guided tours. With the approval of the Ministry of Education, a specialised Museum Educational program, featuring a 3-hour...Read More
Our Managing Partner, Nicholas Ktenas, was selected for recognition in the Labour & Employment chapter of the upcoming 2022 edition of Who’s Who Legal: Labour, Employment & Benefits – a guide to the world’s leading labour & employment and pensions & benefits lawyers. This is the 7th consecutive year Nicholas receives this prestigious international recognition...Read More
On 01 February 2022, the Ministry of Finance issued a Circular (1/2022) in connection with the acquisition of tax residency in Cyprus under the “60 days rule”. The aforesaid Circular replaces all previous Circulars issued on the subject (Circular 8 dd.22/09/2017, and Circular 36 dd.22/02/2019). Resident of the Republic of Cyprus under the 60 days...Read More
On 18 June 2021, the Council of Ministers exercising its powers under the Assessment and Collection of Taxes Laws of 1978 to (No. 3) of 2021, issued a Decree imposing the obligation to accept payment means by card on certain categories of businesses which carry out economic activities in Cyprus. The main purpose of the...Read More
Introduction Back in 2018 the Companies (Amending) Law of 2018 (N. 149(I)/2018) was enacted, focusing, amongst others, on setting in place stricter rules aimed to incentivise Cyprus companies to abide with their statutory obligations including submission of their annual returns with and payment of annual levy to the Registrar of Companies in Cyprus (the “RoC”)....Read More
The “Ideas Powered for business SME Fund” is a European Commission initiative implemented by the European Union Intellectual Property Office (EUIPO) which consists of a €20 million grant scheme helping European small and medium-sized enterprises (SMEs) to support businesses in developing their IP strategies and protecting their IP rights, at national, regional or EU level...Read More
Introduction On 13/5/2021 the Commissioner for Personal Data Protection (the “Commissioner”) published a set of Frequently Asked Questions and answers (FAQs) regarding the application of the provisions of Ministerial Decree No. 16 of 2021, issued on 8/5/2021, on measures to prevent the spread of COVID-19. On 12/7/2021 the Commissioner published a new set of Frequently...Read More
On 28th June 2021 the European Commission adopted an adequacy decision under Regulation (EU) 2016/679 (GDPR) (the “Decision”) for the transfer of data from the EEA to the UK, the first such decision in the post-Brexit era. As a result, the UK is now the 13th country considered officially as a third country which provides...Read More
Brief introduction about CySec in regards to Crypto-Assets On 25th June 2021 the Cyprus Securities and Exchange Commission (the “CySEC“) issued a Directive (R.A.A. 269/2021) regarding the Register of Service Providers concerning Crypto Assets, pursuant to Sections 59 and 61E of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007, Law 188(I)/2007, as...Read More
