Insights
Insightful Perspectives with Meaningful Impact
Rapid procedures for Cyprus residence permits to investors
On 23 August 2012, the Cyprus Ministry of Interior has issued a new framework that embraces an accelerated procedure for granting residence permits to applicants investing in Cyprus. The new framework emphasizes the need for - Read More...
Massive Chinese investment in Larnaca
HERMES Airports Ltd, the consortium in charge of operating and managing Larnaca International Airport, and Far Eastern Phoenix, a chinese controlled entity, have signed an agreement providing for a massive investment involving the construction - Read More...
Cyprus resists ratification of ACTA
Cyprus, along with four (4) other EU Member States (Germany, Slovakia, Estonia, and Netherlands), has refused to sign the Anti-Counterfeiting Trade Agreement, known as ACTA. ACTA is a multinational treaty which aims at the establishment - Read More...
EU proposal for a European Bank Account Preservation Order
The European Commission has recently proposed to introduce an EU-wide freezing order known as a European Account Preservation Order (EAPO) to ease the recovery of cross-border debts for both citizens and businesses. The Regulation would - Read More...
Cyprus’s Parliament passed a bank tax
Cyprus’s parliament on Thursday passed legislation imposing a 0.095 percent tax on deposits of banking institutions, saying part of it would help create a financial stability fund. Lawmakers passed the government bill unanimously. The measure - Read More...
New EC law on payment terms
The European Commission has published its new directive (2011/7/EU) which seeks to tackle late payment in commercial transactions. This alert is relevant to anybody buying or selling goods or services. For sellers the directive might - Read More...
Foreign Investment in Larnaca Free Zone
In an effort to encourage external trade and international commerce through the provision of various incentives such as the abolishment of custom duties and taxes in respect of goods imported into the zones, the Cyprus - Read More...