Governments, public and private organisations throughout Europe are taking measures to try to contain and mitigate COVID-19 and its consequences including processing sensitive personal data. However, they should still keep GDPR and its obligations in mind in the time of COVID-19.
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.
In the course of the measures taken by the Cyprus Government to support the companies/businesses that are affected by the restricting measures imposed to prevent the spread of the Coronavirus, the Department of Registrar of Companies and Official Receiver (DRCOR) is announcing the following:
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.
The European Data Protection Board (the EDPB) has been actively cooperating with the National Supervisory Authorities in an effort to implement a more harmonized approach regarding standard contractual clauses (SCCs) for contracts between controllers and processors used internationally.
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).
In the light of the measures announced by the Cyprus government to curb the spread of the novel coronavirus (COVID-19), the governmental departments of the Republic of Cyprus have issued the following statement.
The outbreak and rapid spread of the COVID-19 has roiled markets and disrupted business, threatening the global and local economies. In an attempt to support local businesses to overcome the crisis related to the effect of COVID-19, Cyprus Government have announced a number of TAX measures, which are yet to be finalized and submitted for the Parliament’s approval within this week.
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.
In view of the worldwide spread of COVID-19, which the World Health Organisation has classified as a pandemic, the Cyprus Government has issued a number of migration measures for travellers arriving in the Republic of Cyprus.
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).
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.
Harris Kyriakides LLC contributes the Cyprus chapter in the International Comparative Legal Guide to: Environment & Climate Change Law 2020. The guide provides a practical cross border insight into Environment and Climate Change Law.
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”.
Harris Kyriakides LLC contributes the Cyprus chapter in LexisNexis® Company and Foreign Investment Law Guide’s 2020. The guide showcases a detailed review and analysis on Company & Foreign Investment practices around the world.
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 20 February, the Legal 500 inaugural GC Summit will take place in Cyprus and Harris Kyriakides LLC is delighted to partcipate in the event. The event will see around 80 leading legal minds and cover a diverse range of topics, including corporate restructuring, alternative dispute resolution and the future of the bar association in Cyprus.
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.
Last week, the partner of our firm Dr Nicolas Kyriakides, participated in a panel discussion at the event organised by the @LarnacaandFamagustaBarAssociation and the @larnacabarassociation on the occasion of the publication of the book Despina Hadjidimitri-Kara with title “Lectures on Civil Procedure”.
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.
We were delighted to advise pro bono the Larnaca Tourism Board in the Elpida Project. On the 7th of December, Elpida MV and LEF1, after acquisition and licensing from the Cyprus Environment Authority, were sunk in an exuberant ceremony to create Larnaca’s new artificial reefs and enrich marine life and diving options in the Larnaca region.
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.
The party who is affected by an administrative act can seek temporary protection from the Administrative Court through an application for provisional injunction to stay the enforcement of that administrative act until the Administrative Court decides the lawfulness of the said administrative act.
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 30th July 2019 the Greek Data Protection Authority has published an important decision on consent declarations concerning the processing of employees’ data. Our GDPR discusses the guidance issued by the Greek Data Protection Authority and its possible ramifications for Cyprus businesses.
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).
On 12 February 2019, the European Data Protection Board (EDPB) adopted its first opinion (the Opinion) on an administrative arrangement, which provides a new mechanism for the transfer of personal data between European Union (EU) financial supervisory authorities and securities agencies and their non-EU counterparts.
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).
Institutions are occasionally prohibited from suing sovereign governments without their consent on the basis of the soverign immunity doctrine. Harris Kyriakides LLC summarises the Cyprus position on the matter in the 2019 Sovereign Immunity edition of #Lexology. You can read the Cyprus chapter here.
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.
The United Kingdom is currently in the process of exiting the European Union through an unprecedented, extensive and uncertain procedure. We touch upon the key areas of Cyprus law which may be affected from the UK withdrawal from the European Union.
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.
In the Compensations booklet below, you may find a summary of all rulings issued by the Cypriot courts in 2018, in which compensations were awarded for damages resulting from any form of accident. The purpose of this report is to give an indication of the amount of compensation given for various accident cases.
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 Data Protection Board published an opinion on the interplay between the EU Directive on Privacy and Electronic Communications and the General Data Protection Regulation to generally clarify whether the processing of personal data triggers the material scope of both the GDPR and the ePrivacy Directive.
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.
Following an audit carried out in the insurance sector, the Commissioner for Personal Data Protection (the Commissioner) published her findings about the improvements to be made and accomplished before the end of June.
Recent European legislation is giving reputable bankrupt entrepreneurs a second chance and makes it easier for viable enterprises in financial difficulties to access preventive restructuring frameworks at an early stage to prevent insolvency.
The proposal, as submitted by the Commission, seeks to amend the Motor Insurance Directive (2009/103/EC) in five specific areas: (i) insolvency of the insurer; (ii) claims history; (iii) risks due to uninsured driving; (iv) minimum amounts of cover; and (v) scope of the Directive.
Companies are increasingly using marketing to promote their products and services not only to their existing customers but also to potential ones. This is the purpose of the electronic marketing, to target individuals using digital methods, such as text messages or emails.