Electronic Money Institutions (EMIs), Payment Institutions (PIs) and Credit Institutions (Banks)
Introduction Bankruptcy: New Regulation means new opportunities!
Exlusive contributor to the Legal500: Construction Country Comparative Guide
MICHAEL KYPRIANOU & CO. LLC has been selected as an exclusive contributor to the Legal 500: Construction 2nd edition Country Comparative Guide, dated May 2019, a privilege reserved for legal firms which have been ranked in The Legal500.
The ePrivacy regulation: When and why you should care
What is the ePrivacy Regulation? The ePrivacy Regulation[1] (‘ePR’) is an unfinished EU law first published in January 2017 that is meant to become an extension of the European Union’s General Data Protection Regulation (‘GDPR’).[2]
Unfair contract terms
The Unfair Contract Terms Law 93(1)/1996 (the “Law”) as amended, implements the EU Directive 93/13/EEC of 5 April 1993 regime into national law. The objective of the aforementioned legislation is the protection of consumers in the European Union from unfair terms and conditions which might be included in a standard contract for goods and services they purchase. …
19% VAT on Plots
In order to harmonize the Acquis Communautaire on the Taxation of untapped and undeveloped plots of land, the Cyprus Government enacted, on 03/11/2017, relevant legislation for the imposition of 19% Value Added Tax (VAT) on these properties, with a date of enforcement being 02/01/2018. The relevant legislation refers to plots/pieces of land offered and/or provided for …
Stricter supervision in relation to the Scheme for Naturalisation of Investors in Cyprus by Exceptio
Recently there were a lot of publications within the European Union expressing concerns about the allegedly very high number of Cypriot passports being given to foreign investors the last few years. The Council of Ministers has decided on 9th January 2018 with the decision with number 84.069, to impose a stricter supervision of all the …
Unjust Banking Practices in Swiss Franc Loan Agreements
The Cypriot banking system is currently being confronted with the issue of providing foreign loans and in particular Swiss francs to both locals and foreigners to cover their housing requirements. Of principle concern in Cypriot and European Courts are the banking practices used in attracting clients to these financial institutions. It seems that misinformation through …
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Changes in the Cyprus-Passport-Investment-Scheme
On 13th of September 2016, the Cyprus Council of Ministers has approved the amendments to the Scheme for Naturalisation of Investors in Cyprus by Exception. The said scheme is based on subsection (2) of section 111A of the Civil Registry Laws of 2002-2015.