Despite Cyprus’ legislative efforts to enhance its judicial system, Cyprus remains behind other EU countries in the number and scope of adopted measures, leading to the lowest overall performance within the European Union.

The European aviation sector is undergoing significant regulatory scrutiny, particularly concerning state aid provided to airlines and airport operators. Recent decision by the European Commission has brought to light the complexities that EU member states face when balancing support for their aviation sectors with the stringent competition rules established by the European Union (EU). These developments have implications for Cyprus, which has been providing incentives to airlines and airport operators to support its aviation industry.

On 5 September 2024, the Court of Justice of the European Union delivered a landmark judgment in Case C-109/23, ruling that a notary's authentication of property sales involving Russian companies does not breach the EU sanctions regime.

On 27 June 2024, the English Court of Appeal delivered a judgment in Nicholls v AXA Assistance Group T/A AXA Travel Insurance [2024] EWCA Civ 718, addressing crucial issues under the Rome II Regulation (“Rome II”), which is assimilated EU law in the UK, regarding the classification of interest rates on damages and the principles of subrogation. For a comprehensive read, you can access the link.

Effective as of 15 March 2024, new legal provisions apply to Cyprus companies converting to companies in other EU Member States and vice versa.