The outbreak of coronavirus (COVID- 19) has created a new reality, and its impact cannot be foreseen due to its uniqueness and lack of historical data. This evolving situation developed by coronavirus raises concerns about the impact on global economy, markets’ volatility and the consequences on the insurance sector.

As the novel coronavirus (COVID-19) outbreak continues to evolve, Cyprus authorities adopted different measures in order to prevent the spread of the coronavirus (COVID-19) and to strengthen the economy. The measures affected, among others banking and other institutions active in the banking sector.

On 15 March 2020, the Council of Ministers held an extraordinary meeting and decided on the measures to be taken for the protection of employees and businesses, in view of the emergency situation created as a result of the spread of coronavirus (COVID-19).

Our Senior Associate Dr. Panagiotis Tsangaris contributed the Cyprus chapter in the book Sanctions in Europe published by WorldECR. 

Following the growing coronavirus outbreak which continues to upend life across the globe, face-to-face meetings of the Board of many public bodies and organizations are no longer an option.

Following the measures taken by the Supreme Court, the functions of the Court of Justice are strictly limited only to the procedures subject to exceptions. 

 In light of the need to take measures to prevent the spread of the Covid-19 coronavirus, a meeting of the President and Members of the Supreme Court was held on 16.3.2020 at the Supreme Court, in the presence of the Minister of Justice and Public Order, the Attorney General, and the President of the Cyprus Bar Association.

Coexistence agreements can be an easier and cheaper solution to disputes over trademark similarity between parties rather than litigation under appropriate circumstances.

Moneyval published on 12 February 2020 Cyprus’ comprehensive assessment of the effectiveness of anti-money laundering and countering the financing of terrorism (AML/CFT) system and its level of compliance with the Recommendations of the Financial Action Task Force (FATF).

Our GDPR team discusses the opinion issued by the European Data Protection Board on the list of processing activities that are subject to a requirement of data protection impact assessment.

We are pleased to share our 2020 guide on Cyprus Tax Facts and Figures. This comprehensive and easy-to-use publication is aiming to provide complete, valid and updated information to Cyprus companies and individuals based on the cypriot legislation and tax practices.

The House of Representatives of the Republic of Cyprus has amended the Transfer and Mortgage of Property Law of 1965 (9/65) (the Law) in 2015, through the introduction of Part VIB of the Law, seeking to protect “Trapped buyers”.

IFRS 17 Insurance Contract (International Financial Reporting Standards) is the new accounting standards for insurance contracts. IFRS 17 was introduced on May 2017 by International Accounting Standards Board (IASB) and it is a profound development on setting out a common global accounting standard on measurement, recognition of profit and loss, presentation and disclosure of insurance contracts. 

On 24 January 2020 the House of Representatives of the Republic of Cyprus has passed an amendment to the Rent Control Law of 1983 (the “Law”) that aims to make the eviction procedure easier and quicker.

The Cyprus Department of Registrar of Companies and Official Receiver announced on 18th December 2019, that the imposition of a charge on the late submission of forms, as set out in the Companies Law, is postponed from the 18th December 2019 until the 21st April 2020.

A recent article of Dr Nicolas Kyriakides’, partner at Harris Kyriakides, with title ‘Cyprus Civil Justice System Reform: Developing a National Identity’, has been published in the Cyprus Review.

The Cyprus Commission for the Protection of Competition rejected allegations of abuse of dominance regarding  an exclusive dealing agreement for the supply of hairdressing salon products. Our Senior Associate Dr. Panagiotis Tsangaris comments on the decision in Concurrences.

On October 11th, 2019, the Commissioner for personal data protection announced the results of an assessment conducted on the level of compliance with the provisions of the Regulation (EU) 2016/679 and the Law 125(I)/2018 in the Public Sector.

A great and inspiring event hosted by PreventionatSea at Radisson Blu Hotel, Larnaca.

We are delighted for being a recommended firm in Financial and Corporate matters in the IFLR 1000 2020 edition, based on their independent research with clients.

On 25 July 2019 the Council of Ministers has decided a number of amendments to the Cyprus Citizenship Programme, which aims to exclude politically exposed persons from the right to apply for the acquisition of the Cyprus citizenship. 

On 31 July 2018, the Cyprus Parliament enacted Law 124(I)/2018 Alternative Investments Funds Law of Cyprus (the AIF law) which allowed for the establishment of a new investment vehicle called Registered Alternative Investment Funds (RAIF).

Succession in Cyprus is governed by two main pieces of national legislation, namely the Wills and Succession Law (Cap. 195) and of the Administration of Deceased’s Estate Law (Cap. 189). In addition, as a member of the European Union, Cyprus applies European law on succession matters, such as the EU Succession Regulation (650/2012). 

A report published by the European Commission on the General Data Protection Regulation which is adopted with a common EU approach to the protection of personal data, directly applicable in the Member-States shows that it has achieved many of its objectives but needs more work.

We were delighted to welcome the Summer 2019 internship class at our head offices in Larnaca. 

Cyprus has enacted a new law on the Registration and Regulation of the Services of Sworn Translators, which establishes the Registry of Sworn Translators and regulates official translations and related certifications.

We welcome applications from talented, highly motivated and committed graduates who are seeking an excellent working environment, challenging experiences and opportunities by joining our 2019-2020 trainee programme.

The European Court of Justice delivered a judgment to clarify the question of defining judicial authority competent to issue a European Arrest Warrant, and ruled on the sufficient guarantee of independence required to be regarded as such under EU law. 

A big thank you to everyone who came to the Students' Open Day in our Head Offices in Larnaca. It was a pleasure having you here, and hope you enjoyed your visit.

Recent European legislation makes it easier and cheaper to set up a company as well as registering branches or filing documents, especially in cross border operations.

It is our great pleasure to receive the Internship Office partner logo for 2019 by the University of Oxford.

The Ministry of Interior has published the decision of the Council of Ministers that was taken during its previous meeting and concerns a clarification on the Cyprus Investment Programme.

Our competition team covers the Cyprus Chapter on #TheLegal500 Cartels.

The Marine and Maritime Research, Innovation, Technology Centre of Excellence (MaRITeC-X) consortium

Harris Kyriakides LLC was awarded with a Gold Standard Internship Host Award by The University of Oxford. The Internship Office of the University of Oxford honored our firm for the support. 

On 14 July 2017 the Cyprus parliament voted for a Cyprus tax law amendment to also provide that an individual can be a Tax Resident of Cyprus even if he/she spends less that 183 days in the Republic.

It is our great pleasure to announce that we have signed a Memorandum of Cooperation with the School of Law, of the University of Nottingham.

As already known, on the 30th March 2019, the United Kingdom (UK) is leaving the European Union (EU)

We are pleased  to share our 2019 guide on Cyprus Tax Facts and Figure

With drones increasingly becoming a household item and acquiring commercial use, it is important for drone operators to understand the basic requirements

Right after the new General Data Protection Regulation (“GDPR”) came into force, many debates were initiated regarding its limits

On the 24th of October 2018, our Junior Associate, Georgina Athanasiou, was invited by the Department of Law of the University of Cyprus,

 

The Marine and Maritime Research, Innovation, Technology Centre of Excellence (MaRITeC-X) consortium.

We are delighted to announce that our partner, Mr Harris Kyriakides, has been selected by Who 's Who Legal independent research with clients

It was our pleasure to attend an event organised regarding shipping, where Mrs Natasa Pilides, the Deputy Minister of shipping was the main speaker.