Cyprus Exits Bailout Program

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Eurozone finance ministers celebrated in Brussels as Cyprus exited its bailout programme – the fourth EU country to do so, while Greece’s creditors continued to stall over its latest rescue package. Cyprus signed up to a rescue package of as much as €10 billion ($11 billion) in March 2013, when its banks collapsed and the […]


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New ‘type’ of Residence Permits For Third Country Nationals

cyprus offshore

The Cyprus Government, in its continuous efforts for a complete reform of the old and outdated application and filing procedures for the issuance of a residence permit in Cyprus has announced that starting as of Monday the 08/02/2016 the Migration Department will be issuing a new type of residence permit to third country nationals that […]


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Cyprus Parliament: ‘‘We put a halt to the liberalization’’

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The Liberalization of the Interest Rate and Related Matters Law No. 160(I) of 1999 which came into force in 2000 gave the right and absolute freedom to any banking institution to charge its customers with any increased percentage rate (also known as default interest rate) on overdue loan installments as a result of a breach […]


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EU and Switzerland’s New Savings Tax Pact

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The European Union and Switzerland have initialed an agreement on the automatic exchange of tax information (AEOI).  The first exchange is scheduled for 2018 after all account data is collected from the onset of 2017. On 19 March 2015, the agreement was initialed by Jacques de Watteville, the Swiss State Secretary, Dominique Paravinci, the Deputy […]


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Arbitration: What to bear in mind

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Without a doubt, International Commercial Arbitration is the most preferable and modern method of the so called ADR (Alternative Dispute Resolutions). The most significant reason why parties choose Arbitration in order to resolve their disputes is mainly for the avoidance of delays in resolving the disputes arising between them. One may argue that there is […]


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