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Amendment to the Takeover Bids Law, 41(I)/2007
Corporate and Commercial Law, European Union Law
In line with Article 119 of EU Directive 2014/59, the new amendment to the Takeover Bids Law [41(I)/2007] and particularly new Section 15A states that Section 13(1) of the basic law on mandatory takeover bids shall not apply in the case of use of resolution tools, powers and mechanisms provided for in Title IV of Directive 2014/59/EU. read more
The Investment Services and Activities and Regulated Market (Amendment) Law of 2014
Banking and Secured Financing, European Union Law

On December 4, the Investment Services Law, 144(I)/2007, was amended for purposes of harmonisation with EU Directive 2013/36 “on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms”, and EU Regulation 576/2013 “on prudential requirements for credit institutions and investment firms”.

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CYPRUS – USA Intergovernmental Agreement on FATCA implementation
Taxation Law

On 2 December 2014, Cyprus signed a Model 1 Intergovernmental Agreement (IGA) with the US government on the implementation of the Foreign Accounts Tax Compliance Act (FATCA).

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Cyprus - Iceland double tax treaty enters into force
Taxation Law

On 13 November 2014, Cyprus signed and ratified a Treaty for the avoidance of Double Taxation with Iceland, with respect to Taxes on Income.

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Cyprus-Lithuania double tax treaty enters into force
Taxation Law

On 21 June 2013, Cyprus signed and ratified a bilateral Agreement for the avoidance of double taxation with Lithuania, the provisions of which generally apply from 1 January 2015. The Agreement will enhance the development of trade and economic relations between Cyprus, Lithuania and other countries.

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