Part One: Introduction + Tech Support Scams Online scams can be defined as fraudulent acts by cybercriminals on the internet, that target financial gain through defrauding unsuspecting victims, and it is responsible for consumer loses up to £2.3bn in the United Kingdom during 2020. Online scamming has also increased in Cyprus in last few years […]
According to the announcement and letter dated 30/09/2021 of the Governor of the Central Bank of Cyprus, Mr. Constantinos Herodotou, requests the Authorized Credit Institutions, as well as the Credit Acquisition Companies, to assist in the completion of justifiable restructuring loan applications. The abovementioned letter repeats the previous positions of the Governor, in a series […]
Introduction On 3d of September 2020, the Council of Ministers of the Republic of Cyprus has approved the creation of the Fast Track Business Activation Mechanism (“FTBA”). The purpose of the enactment of this mechanism, in conjunction with amendments to the immigration legislation with regards to the provision of permanent residency and working permits for […]
Under The Immovable Property (Tenure, Registration and Valuation) (Amendment) Law of 1993 – 6(1) of 1993, section 38K (hereinafter referred to as “The law”), common expenses should be shared between all owners, hence it is an obligation of every owner to participate in the payment of common expenses. Under the Article 38A, common hold property, […]
Elevators are an integral part of the majority of the apartment complexes in Cyprus, since it is reasonably foreseeable that most of them are occupied by elderly people. Elevators have high maintenance demands, safety issues, and power consumption, hence they will attract some substantial common expenses, which should be jointly paid by all the owners […]
Republic of Cyprus ‘ strategic position for clients who work in Europe and the Middle East, its excellent climate, well-developed infrastructure, and highly skilled workforce are just some of the advantages that have made the Republic of Cyprus a major business center. The administrative, and legal systems which are clear and understandable, have contributed to […]
Many Foreigners who wish to move to Cyprus wish to know, can Third Country Nationals work in Cyprus? The Labour Department is responsible for applications from Employers to employ Third Country Nationals for short term needs (1-2 years) provided that Cypriot or European citizens do not meet those specific needs of the Employer. The main […]
Under the scope of the Assessment and Collection of Taxes Laws of 1978 to (No 3) of 2021, on 18 June 2021 the new Decree establishing the requirement to accept payments by cards and in electronic forms has been issued (Issue No. 5548) Which businesses are obligated to comply with the Decree? Such businesses include, […]
All public documents issued abroad and which will be used in Cyprus, must be duly certified, as per the Law ratifying the Convention on the abolishing the requirement of legalization for Foreign Public Documents of 1972 (Apostille stamp). When the said documents are issued by countries which are not part of the Hague Convention (Apostille), […]
According to the Probates (Re-Sealing) Law in Cyprus, if a District Probate Registry in a commonwealth country granted a Probate Order, regarding the assets of the deceased, the Court in Cyprus can re-sealing the same probate order regarding the property of the deceased in Cyprus. Therefore, since there is a commonwealth PROBATE ORDER the application […]