The Law on Immovable Property (Tenure, Registration and Valuation), Cap. 224 provides a useful guide for resolving co-ownership disputes. Problems in co-ownership can arise, inter alia, through the voluntary purchase of indivisible shares in a property by two or more persons, or through inheritance, in which case the immovable property of the deceased person passes to his heirs in undivided shares. Exit from such co-ownership is also often difficult and creates friction and conflicts between the co-owners.
A ground-breaking development has recently been announced by the European Commission, which has for the first time applied the strict rules introduced under the Digital Markets Act - to bring non-compliance investigations against three heavyweights in the world of “big tech”, namely Alphabet (the parent company of Google), Apple, and Meta (formerly Facebook Inc.).
The criteria for Cyprus citizenship though naturalization is different for applicants who are highly skilled employees of foreign interest companies, the main difference being that the latter can apply for Cypriot citizenship having less years of residence in Cyprus.
Artificial Intelligence (AI) refers to the simulation of human intelligence in machines programmed to think and learn like humans. These systems are capable of performing tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and language translation. AI works through complex algorithms and models that enable machines to learn from and adapt to new data.
In April 2023, the Council of Ministers decided for the amendment of the criteria for granting Immigration Permits in Cyprus pursuant to the provisions of the Regulation 6(2) of the Aliens and Immigration Regulations. The Golden Visa is a permanent residency-by-investment programme which gives non-EU citizens permanent residence in Cyprus provided they make an investment of (min) €300,000.
Last November marked a new era for the legislation surrounding injunction relief in Cyprus through the amendment of, inter alia, article 32 of Cyprus Courts Law of 1960, L.14/60 (the “Law”). While the amendments are not elaborate nor extensive, they are monumental to the usage of injunctions, by essentially expanding the territorial jurisdiction of Cypriot Courts.
The European Union's 12th package of sanctions, announced on 18 December 2023, marks a significant intensification of the measures taken against Russian assets as a response to the ongoing situation in Ukraine.
In a notable legal development, the Cypriot House of Representatives has passed an amendment to the Civil Registry Law, signifying a major shift in the country's naturalisation policy. While important for all applicants, these changes are particularly impactful for professionals in the 'research and innovation' sector, reflecting the objective to establish Cyprus as a leading global tech hub and an attractive destination for international business.
In an increasingly digitalized world, the significance of electronic signatures takes center stage. Their transformative potential extends far beyond mere convenience. Cyprus has enacted Law 55(I)/2018, which aligns the island with the EU eIDAS Regulation, firmly positions the country within Europe's cohesive digital strategy.
The doctrine of separate legal personality is nothing new in the legal field. Its premise is to essentially shield directors from any liability stemming from any company-related action. There are however, exceptions to this rule, where Courts have the discretionary power to stray away from the general rule and lift the “corporate veil” which protects directors.
The recognition and enforcement of international arbitral awards are frequently sought in Cyprus, which is a hub for international business transactions and a jurisdiction where numerous physical persons and legal entities maintain their assets.
A data subject can object to his/her personal data being processed for direct marketing purposes at any time. Pursuant to the Regulation of Electronic Communications and Postal Services (Law 112(I)/2004, as amended), consent is required.
Significant amendments were introduced to the existing legislation governing divorce and other family matters in Cyprus, aiming to simplify and modernize the judicial proceedings. The Cyprus Parliament has recently decided upon the modification of the Marriage Law (104(I)/2003), the Family Courts Law 1990 (23/1990) and the Attempted Conciliation and Spiritual Dissolution of Marriage Law (22/1990).
Following the identification of crypto-assets by the English Courts as assets, and the finding that crypto-assets may be the subject of freezing or proprietary injunctions, a new development in English case law emerged regarding the fiduciary duties (if any) of the software developers towards the owners of crypto-assets.
Justice in Cyprus is currently undergoing a massive reconstruction through the upcoming reform of the Cyprus Civil Procedure Rules, mainly aiming at the acceleration of judicial proceedings and the elimination of any deficiencies within the Cyprus legal arena.
Following Brexit, the acquirement of EU citizenship may be achieved by British people (of Cypriot origin but not only) who may regain the advantages of enjoying the freedom of movement within Europe for their future personal or business dealings. Cyprus is a member state of the European Union, consequently a Cyprus citizen is also a citizen of the EU who can travel and reside freely in any of the member states of the EU. Dual citizenship/nationality is allowed both in Cyprus and in the UK.
The Council of Ministers approved on 30/11/2022 the amendment of the policy for the registration of companies in the Register of Foreign Interest Entities, which is currently being administered through the Business Facilitation Unit (“BFU”).
