Late payments in commercial transactions

The worsening of the economic crisis has determined in many European countries an increase of late payments in commercial transactions. Cyprus makes no exception to this trend. Specific directives have been adopted at European level in order to combat late payments....

Legal Professional Privilege in Cyprus

A taxpayer’s right of privacy and the Legal Professional Privilege (LLP) in Cyprus In Cyprus, according to the Advocates’ Law (Cap. 2) and the Advocates Code of Conduct Regulations of 2002 (the Regulations), the legal professional privilege is recognised as a...

Fast track economic citizenship program

The Council of Ministers has decided on 15.04.2013 to implement an “economic citizenship” programme, granting accelerated citizenship to applicants who satisfy one of the following criteria: Cash: The applicant has invested at least €3 million in Cyprus,...

Amendments to tax legislation

During November and December 2012, the House of Representatives voted for a number of new and amending laws under the Memorandum of Understanding between the Republic of Cyprus and Troika in order to strengthen public finances. We present below the most relevant...