The outbreak of the coronavirus disease (COVID-19) represents one of the most serious public health crises of the recent decades and is causing major disruptions and unprecedented volatility in markets, economies and businesses throughout Cyprus. Cyprus businesses and investors across industries are facing various challenges and issues, some of which require urgent legal advice. We are actively advising clients on these and other urgent legal and business-critical issues related to Cyprus law.
Please contact your Harris Kyriakides partner or any of our lawyers should you have any questions or require legal advice on any COVID-19 related issues. Our offices are open and we are working remotely.
Below you can find our latest legal analysis on issues related to COVID-19:
The escalation of the COVID-19 pandemic and the emergency situation created in the public health sector, which severely harms the citizens and the wider society, has led to concussions in the global and national economy.
Under the Value Added Tax (Amending) Law of 2020 (L.24(I)/2020), the right of suspension of the obligation of payment of the VAT is conferred to the persons registered in the VAT Registry, whose specified taxation periods end on the 29th of February 2020, the 31st of March 2020 and the 30th of April 2020.
The House of Representatives has approved on 27/3/2020 the Financial Support Program in response to the financial impact of the coronavirus and in particular the decision for non-payment of the increased contribution to GESY for a period of three months, i.e. April–June. In July, the rates will return to those announced in March 2020.
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.
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).
The Treasury of the Republic and Ministry of Finance issued a joint statement on the impact of the COVID-19 epidemic on public procurements.
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.
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.
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.
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.
The Department of Registrar of Companies and Official Receiver has announced further measures to prevent the spread of COVID-19.
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.