The European Long-term Investment fund (ELTIF) was introduced in 2015 as a collective investment framework. The fund aimed to regulate and promote investments in the EU for long-term capital projects.  Almost 10 years later the EU considered it necessary to update this framework to satisfy the current market needs which led to the introduction of...Read More

The recent procedural rules of the Supreme Court provide for a change in the application process for a grant of permission. A request for a grant of permission to the Supreme Court is made when a party to a case, after the case has been heard in the First Instance Court and the Court of...Read More

Starting March 15, 2024, new legal provisions apply to the conversion of Cyprus companies to companies in EU Member States, and vice versa. This follows the amendment of the Companies Law (No.3) of 2024 (Law 26(I)/2024), which incorporates Directive (EU) 2019/2121 (the “Mobility Directive”) into domestic law. The directive amends Directive (EU) 2017/1132 concerning cross-border...Read More

The 2012 amendments to the International Trusts Law 69(I)/92 have made Cyprus an appealing jurisdiction for setting up International Trusts. A trust is a legal arrangement wherein the settlor, who is the owner of the asset, transfers the title to the asset to another person, the trustee. The trustee is then obliged to manage the...Read More

On May 24, 2024, the Council completed the final step in the EU decision-making process, formally adopting the Corporate Sustainability Due Diligence Directive (CSDDD) that was proposed by the European Commission in February 2022. This landmark directive imposes new obligations on large companies, with over 1,000 employees and a net turnover exceeding €450 million, affecting their own...Read More

In December 2023, the enactment of Law 132(I)/2023 brought about significant changes in property regulations, aimed at enhancing buyer protection. This legislative amendment reflects a broader trend of ongoing efforts to safeguard consumers and address power imbalances in contractual agreements. Among the notable provisions is a novel procedure endorsed by the Home Office, offering buyers...Read More

New legal advancements around Cypriot company law are evident in the latest Cypriot  Commercial Authorities’ announcements. Specifically, an important development is the fine imposition against Companies that submit their annual report late. Significant is also the release of guidelines for the entries that entities need to make to comply with the Cyprus Register of Beneficial...Read More

The Immovable Property Law Chapter 224 is concerned with tenure matters, disposition, valuation, and registration of immovable property in Cyprus. This law can be a useful guide for solving co-ownership disputes. If a person owns a property or inherits a property that is co-owned with other individuals this may lead to disputes on the usage...Read More

In a significant move in alignment with the efforts to promote legal migration in Cyprus, the Council of Ministers approved pivotal amending bills on January 17, 2024, aimed at establishing a more flexible framework for the entry and residence of highly skilled workers from outside the EU. These bills outline the procedures and requirements for...Read More

In a significant move towards aligning with the demands of the digital age, on the 23rd of October 2023, the European Council adopted a directive on financial services contracts concluded at a distance, marking the conclusive step of the EU decision-making process. This directive simplifies the existing legislation, aiming to enhance consumer protection and establish...Read More