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

Το Τμήμα Εφόρου Εταιρειών και Διανοητικής Ιδιοκτησίας (ΤΕΕΔΙ) σε συνέχεια της ανακοίνωσής του με θέμα «Ειδοποίηση για καταχώριση στοιχείων πραγματικών δικαιούχων (ΠΔ) στο Μητρώο Πραγματικών Δικαιούχων (ΜΠΔ) και επιβολή προστίμων» ημερομηνίας 01/09/2023, ενημερώνει την έναρξη της εφαρμογής της τελικής λύσης του ηλεκτρονικού συστήματος του ΜΠΔ από τις 14 Νοεμβρίου 2023. Στον σύνδεσμο https://ubo.meci.gov.cy/ μπορούν να ενωθούν όσοι είναι...Read More

In the dynamic world of businesses, understanding and adhering to competition law is paramount for sustainable growth and success. When navigating the landscape of competition law, businesses should keep various key considerations in mind. In the European Union, antitrust rules aim to prevent the limitation of competition in the market and the abuse of dominant...Read More

In a significant move, on August 3rd, 2023, the Council of Ministers at its meeting approved the draft law ‘The Management of Commonhold Buildings and Related Matters Act of 2022’, authorizing the submission of the bill to the House of Representatives for enactment into law. This bill aims to tackle gaps in existing legislation, defining...Read More

The European Court of Justice released its decision in case C-134/22. The case concerns the extent of the employer’s obligation to inform the appropriate authorities in due course regarding collective redundancies. The court held that this obligation does not act as a safety net for the employees.  The facts of the case concern an employee...Read More