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The Council of the European Union during the period between 01/05/2019 to 20/06/2019 passed various resolutions giving effect to the following: 1) Republic of Maldives – abolition of regime of autonomous restrictive measures of EU, decisions and regulations taken on 17th of June 2019, in relation to the restrictive measures due to the situation in...
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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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The Financial Times Professional Wealth Management group’s recent study of CBI programmes, around the world, ranked Cyprus ahead of other European countries Austria, Bulgaria and Malta, for its highly attractive travel and residency requirements. A primary objective of the CBI Index was to isolate factors or “pillars” satisfactorily measuring the CBI programmes features and desirability...
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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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Cyprus International Trusts (“CIT’s”) have evolved considerably since 1992 when they were formally introduced in Cyprus legislation. The 1992 Law was not a self-contained law but it built on the 1955 Trustees Law, Cap.193 which is almost identical to the English Trustees Act of 1925.
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What do Skype, Facebook, lung medicine “Pulmicort” and a pacemaker have in common? They are all the result of research and innovation. Moreover, they represent items of protected intellectual property (“IP”). Innovation is at the heart of world development and its preservation cannot be overemphasized. In the words of a US congressman Howard Berman, protection...
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