The Department of Labour examines applications from employers for the employment of foreigners, for the satisfaction of pressing, short term needs in the labour market, in certain economic fields and occupations according to the Ministerial Council’s decision No. 33.210 dated 15/3/1990.
The general principles of the law of agency are included in sections 142-198 of Contract Law Cap.149 (the “Law)”. An agency contract describes the agreement by which the first party (the Principal) appoints another party (the Agent) to act on behalf of or to represent him in transactions with third parties.
MiFID (Markets in Financial Instruments Directive) II and MiFIR (Markets in Financial Instruments Regulation) are the most important changes in legislature of the last decade and...
In July 2017 the Cyprus parliament voted for a Cyprus tax law amendment adding the “60 day rule” test for the purpose of determining whether an individual is a Cyprus tax resident or not. This law amendment is effective as from 1 January 2017.
This permit is the perfect solution for persons who wish to prolong their stay in Cyprus for more than 3 months (90 days). This type of permit is valid for 1 year and can be renewed on an annual basis. Under this permit, a person is allowed to live in Cyprus on a temporary basis and also bring his close family members to live with him.
Recently, the law of Specific Performance relating to Property Sales of 2017 has entered into force and has amended article 12 of the Law of 2011 and 2012...
What are the responsibilities of Directors in a limited company? The Board of Directors of the company is responsible for the day to day management of the company’s business.
What is the liability of shareholders of a Cyprus limited company?
A company limited by shares has separate legal personality from that of its shareholders. The liability of a shareholder for the company's liabilities is commonly limited to the amount, if any, that remains unpaid on that shareholder's shares.
In an effort to combat money laundering and the financing of terrorists’ activities and to increase transparency, the European Commission issued the 4th AML Directive in May 2015 and repealed the previous one.
A Long-Term Residence Permit is granted to individuals who have resided legally and continuously within the controlled areas of the Republic for 5 years prior to the submission of the relevant application and posses valid residence permits.
According to Section 29 of the Cyprus Companies Law Cap. 113 (the “Law)” a private company, is a company which by its articles of association (a) restricts the right to transfer its shares;...
A Cypriot citizen has the right to submit an application with the competent authorities in Cyprus (the District Administration Offices) to change his/her name and/or surname, correct errors or make additions.
Acquiring Cyprus citizenship entitles a person, amongst others to live and work in Cyprus without any restriction as well as travel without any formalities within the EU.
The Cyprus Companies Law recognizes three formal procedures for companies in financial difficulties:
A reorganization plan of the company and/or a settlement between the company and its creditors may be effected following the approval of the court;
