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02.09.2015
Examinership: Powers, Duties and Liabilities of an Examiner under Cyprus Law
Корпоративное и коммерческое право

The recent amendments to the Cyprus Companies Law Ch.113 (hereinafter “the Law”) have introduced the process of Examinership in Cyprus. The legislation is heavily based on the respective provisions of the Irish Companies Act, therefore beside the provisions of the Cypriot Law, the relevant Irish case-law and authorities will be examined for the purposes of this memo.

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29.07.2015
EU: Protected Designation of Origin status to be granted soon for traditional Cypriot cheese Halloumi
Законодательство ЕС, Закон о защите прав интеллектуальной собственности

According to a European Commission representative, the Republic of Cyprus has filed an application for the second time to request grant of PDO status concerning the name «halloumi».

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09.07.2015
The “Companies (Amendment) (No5) Law of 2015”
Корпоративное и коммерческое право

Following the approval of a new amendment to the Companies Law, Cap 113, new Section 298B provides that in every winding up of an insolvent company, the provisions of Bankruptcy Law (Cap 5) shall prevail with regard to the property of any person adjudged bankrupt and with regard to the respective rights of secured and unsecured creditors and to debts provable and to the valuation of annuities and future and contingent liabilities and all persons who would be entitled to prove for and receive dividends out of the assets of the company may come in under the winding up of the company and make such claims against the company.

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09.07.2015
Approved amendments on tax legislation
Налоговое право

A legislative package comprising three bills of law that amend existing tax legislation was approved on July 9, in an effort to further improve and modernise the existing legislative framework. 

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09.07.2015
Amendments to the Department of Land and Surveys (Fees and Charges) Law provide for a 50% lower transfer fee on the sale of immovable property
Законодательство, регулирующее правоотношения в сфере недвижимости, Налоговое право

In an effort to attract new investments and promote development in the constructions sector, the Parliament approved an amendment to the Department of Land and Surveys (Fees and Charges) Law that provides for a 50% reduction of the transfer fees payable on the sale of immovable property and the registration of leases or subleases that shall take place until the end of December 2016.

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