NFTs: Business Trends & Legal Uncertainties
The future of NFTs seems bright and promising. NFTs are evolving into an asset class that, at its core, serves as the world’s greatest digital evidence of ownership. As NFTs grow, their role as digital proofs of ownership will provide innovative and lucrative use cases for future digital economies. While digital art and collectibles presently …
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Cryptoassets & Banking: a Cyprus Law perspective
The banking sector is showing an incremental appreciation of the use of cryptoassets and their correlation with banks’ traditional retail functions. The existing legal framework is maturing to the regulation of cryptoassets, allowing for the effective supervision of such digital assets.
Green Funds: Business Trends & Regulatory Developments
A growing number and class of investors is shifting towards sustainable and ESG-compliant markets and products. Environmental and social considerations are assuming a growing importance, with the EU focusing its efforts to the greening of the economies of its Member States.
Government Approves Tax Incentives To Attract Talent And Promote Headquartering
Staff relocating to Cyprus earning more than €55,000 will benefit from a 50% tax exemption on their salary
Digitalization in Cyprus: Opportunities, Challenges and the Legal Sector
There is an ongoing race at the national and international, regulatory and private sector levels, to take advantage of the increasing demands for digitalization and acquire a first mover advantage in those sectors where digitalization is having the most impact. The heavily digitally-influenced reality that many countries and industries have had to rapidly adapt to, …
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The Film Industry in Cyprus – A Blooming Sector
The film industry constitutes a complex and ever-flourishing sector in the global economy. The industry’s operation occupies multifaceted stages, engages a selection of distinct stakeholders and experts and presents plenty opportunities for all parties who choose to get involved. Committed to boosting this highly promising sector, the government of the Republic of Cyprus introduced a …
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Asset Tokenization: Trends & Developments in Cyprus
Asset tokenization constitutes a relatively new process. Yet, it has been receiving increasing levels of attention across several jurisdictions, with positive indications as to its ability to revolutionize the way different assets are held, traded and used.
A Guide on Legal Developments and Government Initiatives in Cyprus
Following the 2007-2009 global financial crisis, the financial services sector has been subjected to a process of intense regulatory overhauling, leading to many of the complex laws that are applicable today in relation to funds, banks, investment and insurance firms. In the context of this legal and regulatory reshaping, new entrants have made their appearance, …
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Overview of recent developments amid Covid-19 pandemic
This note seeks to provide an overview of some of the key recent developments in the area of competition law with regards to the challenges brought about by the Covid-19 pandemic (“the pandemic”) and the disruption induced by digitalization and online marketplaces.
Rejection of Applications and Revocation of Cyprus Citizenship
The Cyprus Investment Program seemed problematic from the beginning and even the amendments could not save and protect the abuse of the Program. The Cyprus Government decided to terminate the Program with final submission date the 30th of October 2020 after amending the Law regulating the Citizenship by Investment Program. The new policy of the …
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