THE UNDERLYING PURPOSE: Taking into consideration the aggregate calls for transparency by the constitutions of the European Union (hereinafter referred to as the “E.U.”) which, now more than ever, form an essential element of the corporate sector that must be guaranteed and safeguarded, the Republic of Cyprus (hereinafter referred to as “Cyprus” and / or the...
“Competition”, as a term, features in many commercial transactions and everyday dealings among individuals and / or Entities. In order to guarantee that consumers will enjoy the best options available in the market, while Enterprises will refrain from abusing their dominant position or entering into restrictive agreements of the competition, the Parliament of the Republic of...
While Cyprus is generally considered to be an attractive proposition for individuals looking to register Intellectual Property (IP), it often gets overlooked for more well-known jurisdictions, such as the likes of the Netherlands and the United Kingdom (UK). There are multiple reasons behind this, with arguably the most significant being the fact that the two...
Floating charges have long been used as a means of securing interest over a number of non-constant assets. These assets are considered to be ‘non-constant’ as they may change with respect to their quantity and/or value. Floating charges are almost exclusively used by Companies, as they allow for the Company to secure a loan without...
By way of an overview, Cyprus’ International Trusts Law (“The International Trusts Law 1992 [No. 69(I)/1992]”) was introduced as a means of implementing the long established English Trust principles into Cypriot Law. The purpose of this Law was to enable the formation of trust vehicles which can be used to channel foreign investments in or...
The words shares and stocks are generally used interchangeably in day to day conversation, similarly to how ‘fall’ and ‘autumn’ both denote the season preceding winter. They are both interconnected with one another, sharing numerous similarities, so much so that even the Companies Law of Cyprus (“Cap. 113”) defines a share as being a “share...
In today’s day and age, the term “GDPR” might just be one of the most popular terms in everyday use, particularly in many business settings, but not necessarily for positive reasons. The introduction of the “General Data Protection Regulation (GDPR)” by the European Union in April of 2016 made waves across industries all over the...
Following the Economic Substance (Companies and Limited Partnerships) Act 2018 (the "Act") coming into force on the 1st of January, 2019 in the British Virgin Islands (BVI), the requirements set out by the European Union Code of Conduct Group have been satisfied. These requirements were introduced by the EU in an attempt to establish a...
In 2016, the European Union (EU) proposed the first draft of what has grown to become a rather controversial Directive. This Directive has come to be known as the “Directive on Copyright in the Digital Single Market” or simply the “EU Copyright Directive”, but will be referred to as the “Directive” for the purposes of...
Following the 2012-13 financial crisis, Cyprus was left in economic shambles. The 2007-08 global financial crisis created massive cracks in the economy, to which the 2012-13 crisis dealt the finishing blow. The government had no choice but to request financial assistance from the European Union in the form of €10 billion. In exchange, Cyprus would...
