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


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 […]


EU and Switzerland’s New Savings Tax Pact


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 […]


Arbitration: What to bear in mind


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 […]


Alternative Investment Funds workshop and refresher course


Last week Socratis Parparinos Chief Operating Officer and Andreas Ioannou Head of the Corporate attended a workshop aimed at updating their knowledge relating to the establishment and onwards management of Alternative Investment Funds (herein after AIF’s). At Parparinos & Milonas, we continually strive to ensure our staff are given the opportunity to refresh their knowledge […]


Work permit of third-country nationals


Third-country nationals seeking employment in local and international companies in Cyprus Criteria and Limitations The European Union’s immigration policy is governed by Articles 79 and 80 of the Treaty on the Functioning of the European Union (TFEU) ensuring fair treatment of third-country nationals residing in EU Member States. Although the present provisions secure third-country nationals […]