News and developments

Tax & private client

Recent Supreme Court's judgment in relation to international child abduction: Following the exception

The recent Supreme Court's case under the title: MINISTER OF JUSTICE AND PUBLIC ORDER (AS A CENTRAL AUTHORITY BASED ON THE LAW (Law 11 (III) / 94) AFTER AUTHORIZATION SAVVA v. GIORKATZI, E12/20/20(The Case) which was issued by the Supreme Court of Cyprusis unprecedented for the Cypriot Courts as the Court, decided although there was an abduction in term of the Convention of 25 October 1980 on the Civil Aspects of International Child Abduction (The Convention), not to order the return of a child to his habitual residence based on psychological factors.
19 March 2021
Finance

The issuance of a charging order and an order for sale of the charged asset.

The issuance of a charging order comprises an alternative means of enforcement which is accompanied by an order for sale of the charged asset under the Law on Charging Orders of 1992 (31 (Ι)/1992) (the Charging Order Law). In accordance with the Charging Order Law, the judgment creditor (the Creditor) is entitled, for the purpose of enforcing the judgment and securing payment of the judgment debt, to make an ex parte application to the Court for issuance of a Charging Order over the interest of the judgment debtor (the Debtor) in assets which are covered by the relevant law (the Charging Order). Furthermore, in order for Creditor to advance the sale of the charged asset, he must secure in advance an order which will permit its redemption after all the interested parties are heard.
09 February 2021
Crime

New Legislation on Combatting Sexism, and Sexism Spreading via the Internet

The need to combat sexism and discrimination between genders which constitute de facto violations of human rights and fundamental liberties has led to the voting of the Law on Combatting Sexism and Sexism Spreading via Internet and Relevant Matters 2020 (‘the Law’), published on 28/12/2020.The purpose of the legislator, amongst other, is eradication, to the degree possible, of incidents involving sexism and gender stereotypes in Cypriot society, in order to establish a framework of security and equal opportunity between genders in education, the job market, professional development and promotion, as well as the assumption of executive positions in all sectors.
10 June 2022
Finance

Suspension of foreclosures involving primary residences or businesses dwellings until end of March 2

On 17.12.2020, the Parliament adopted the amendment of the Transfer and Mortgage of Property (Amending) (No. 2) Law of 2020 (the “Law”) with 31 votes in favour and 17 against .The law has been amended with the addition of article 61 which stipulates that the application of the provisions of Part VIA of the Law regarding the sale of mortgaged property, is temporarily suspended and more specifically until 31 March 2021 in cases were the mortgage property it is the debtor's primary residence or the debtor's businesses dwelling.
20 January 2021
Transport

2009 Motor Insurance Directive: an Evaluation of Current Proposals for Amendment

The 2009 Motor Insurance Directive is paramount for materialising the fundamental right of freedom of movement for European citizens across the EU.The said Directive is a further step to consolidate the market in the motor insurance sector, while promoting the protection of both policyholders and victims of road traffic accidents. The Commission’s amendment proposals address key issues of cover in case of insolvency of an insurer, and minimum cover inconsistency. Moreover, EU Parliament’s and Council’s input strengthens deployment of claim history statements in calculating premiums, and insurance checks on non-domestic vehicles while preserving rights and freedoms. All of the aforementioned proposals on scope manage to integrate important case law, while the individual selection will depend on public policy and alternative cover.
14 January 2021
Employment

Workplace rights for employees undertaking IVF treatment in Cyprus

What is IVF treatment The first reported birth of a child conceived by ‘in Vitro’ fertilization (IVF) was in 1978.IVF alongside other Assisted Reproduction Technologies have since then become accepted practices to medically treat genetic or fertility issues. The IVF practice aims to improve the frequency of pregnancies by implanting a fertilized ovum in the endometrium, although no assurances can be provided for the outcome of the procedure. It is proven that stress can negatively impact the mental health of the patient. Hence, it is of paramount importance that women feel safe and protected by the law against any form of discrimination relating to their decision to engage in IVF.
14 January 2021
Harris Kyriakides