What is a Trust


A Trust is a legal mechanism for separating the ownership of an asset into two parts: the “legal” ownership, or title to the asset and the “beneficial” ownership. Trusts are incredibly useful and flexible engines that people ignite for all sorts of different purposes. The trust is established by an individual “the Settlor” and the […]


Does a bank owe a duty to its customers?

It is a well-known fact that many people face very serious problems with their loan agreements, bank accounts, deposits and the like. As a consequence, they become parties in a judicial dispute after banks initiate a legal claim against them in order to gain back ‘their’ money. The outcome is very obvious; being in favour […]


Banking in Cyprus


A successful recapitalised banking sector in Cyprus passed External Commercial Borrowing (ECB) stress tests and found a stable footing after the turmoil of the 2013 bail-in. Liquidity and solvency in the banking system have improved significantly, with exchange controls fully lifted in May 2015. Foreign investors who want to open a company in Cyprus will have to open a bank account for […]


EU Launches Investigation into Hungarian Advertising Tax


An investigation into whether Hungary’s advertising tax complies with EU state aid rules has been launched by the European Commission (EC). The tax, which was introduced in June 2014, is presently based on turnover as opposed to profits and is applied at progressive rates ranging from 0 to 50%. While the European Commission does not […]