Vaccines have played a vital role in progressing medical treatment throughout history. However, no medical intervention is risk free, and vaccines are certainly no exception to that rule. Every administration of a vaccine will carry the risk of an adverse event following it, which is not inevitably instigated by the vaccine itself: post hoc is not propter hoc.
The "Cyprus Digital Nomad Visa" Scheme allows nationals from non-EU and non-EEA countries, who can perform their work location-independently using telecommunications technology, to reside temporarily in Cyprus and work for an employer registered abroad or perform work through telecommunications technology for companies or clients located abroad.
N. Pirilides & Associates LLC has vast experience acting in HNW divorces in Cyprus, especially in relation to disputes over the division of matrimonial property which admittedly are the most complicated and contested part of the divorce process; such disputes are rarely straightforward as they often involve consideration of property held by companies in Cyprus or abroad, international trusts, preliminary disputes over the jurisdiction of the Cyprus Courts and other complex issues. Our Firm often represents clients seeking to protect their assets and equally those fighting for their fair share in the marital wealth.
Globally there is the shift to remote working. Due to this trend, the digital nomad visa has been introduced in Cyprus in order to attract people from third countries who will live in Cyprus but still work in companies operating abroad.
On Friday 15/10/2021, the Cyprus Ministry of Finance announced an action plan for attracting foreign investment and enhancing business activity in Cyprus through the transformation of the existing Fast Track Business Activation Mechanism (FTBA) into a Business Facilitation Unit.
Cyprus is an attractive solution for foreign companies and due to its competitive advantages always provides fruitful grounds for attracting companies and investments. It is an international business centre and an ideal point of entry to the EU with a strategic location.
A company who has re-domiciled in Cyprus is subject to all statutory obligations and able to exercise all powers of a company incorporated in Cyprus. Consequently, a company who has re-domiciled in Cyprus will have the obligation to submit its beneficial ownership details to the Register.
In an attempt to strengthen and harmonize the framework with regards to the prevention and suppression of money laundering, the Register of UBOs in Cyprus has been created beginning of 2021. The deadline date for submission has been revised to be the latest on 12/03/2022.
On 15/09/2021 the Supreme Court issued a court regulation, the so-called e-Justice Procedural Regulation, which regulates the handling of cases through electronic communication with the Court, allowing judges to handle cases without any physical presence. The e-Justice platform aims to bring together litigants, advocates, law firms, court staff and clerks, judges, the police and relevant governmental authorities so that justice is administered in an effective and practical digital environment.
On 19.07.2013, in the Official Gazette of the Republic of Cyprus, the Amending Law on Registration of Doctors of 2013 (Law 73(I)/2013) (the “Amending Law”) was issued, allowing doctors to provide medical services through the establishment and operation of limited liability companies.
In an effort to further criminalise the act of money laundering, the European Commission issued the 6th AML Directive 2018/1673, however it has not yet been transposed into national law. The 6th AML Directive aims to empower financial institutions and authorities to become more proactive in the fight against money laundering and terrorism financing. This will be done by expanding and clarifying existing legislation on the certain regulations that are at play.
The Council of Ministers approved a Decree requiring businesses operating in the service and retail sector to accept card payments as a means of payment in an effort to fight tax evasion, boost consumer protection and help customer service.
Due to the environmental consultation process and the strategic vision for Cyprus shipping sustainability, Cyprus Shipping Deputy Ministry has recently launched a consultation to co-create a long-term maritime strategy-campaign, supported by those working in or connected to the maritime sector.
The Cyprus Securities and Exchange Commission (“CySEC”) has published a Consultation Paper on 10/06/2021 to propose the introduction of specific rules and obligations on promoters of applications that engage in the submission and promotion of applications for the granting of licenses to regulated entities of CySEC (or other material changes).
Following the enactment of the Prevention and Suppression of Money Laundering and Terrorist Financing Law 188(I)/2007 on 18/02/2021 (the “Amending Law”), every company and/or other legal entity incorporated in Cyprus is required to maintain adequate information about its ultimate beneficial owners (the “UBOs”) and this information needs to be submitted to central registry operation of real beneficiary companies and other legal entities (the “Register”).
As of Monday 10/05 Cyprus has exited a third partial lockdown with a new coronavirus "safe pass" system to allow people to move freely (the government abolished the system of official approval by text message used to allow people to leave home).
On 22 March 2021, the Cyprus government issued new criteria relating to the Fast Track Process of issuing Immigration Permits to applicants-third-country nationals who are willing to invest in Cyprus in an attempt to promote foreign investment to the island and to help economic recovery. Such an Immigration Permit gives the right to permanently reside in Cyprus.
With Cyprus being a common law jurisdiction, the adoption by the Cyprus Courts of judge-made remedies that the English Courts have created for the needs of victims of fraud, was an important evolution to the Cyprus legal system in its battle against civil fraud.
