On May 22, 2025, the Administration of Estates of Deceased Persons (Amendment) Law of 2025 was published in the Official Gazette, bringing important changes to the Administration of Estates of Deceased Persons Law (the “Principal Law”). These amendments focus on clarifying the procedures related to the handling of estates and providing greater flexibility in the...Read More

The Land and Survey Department (Fees and Charges) (Amendment) Law of 2025 introduces important modifications to the existing Land and Survey Department (Fees and Charges) Law (the “Principal Law”). These changes specifically affect the definitions and provisions related to the granting of financial assistance under a new housing initiative. Key Changes: Addition to Article 2...Read More

The Cyprus Securities and Exchange Commission (CySEC) introduced a Policy Statement CP-02-2020 which is a transformative regulatory framework aimed at modernizing customer onboarding in the financial services factor. It addresses the growing need for technological innovation while enduring stringent compliance with anti-money laundering (AML) regulations. The financial industry is rapidly evolving, driven by technological advancements...Read More

Introduction of New Provisions for Registers On the 26th of July 2024, the Official Gazette of the Republic of Cyprus published the new Companies (Amendment) (No.4) Law 101(I) of 2024. This law introduces significant changes to the basic Companies Law, with the main amendments as follows: Amendment to Article 365H A new paragraph (f) has...Read More

The Consumer Protection Service has recently issued a statement addressing complaints regarding abusive clauses in financial contracts, which follows the initiation of an infringement procedure (INFR(2024)0018) against Cyprus by the European Commission. The key points from the announcement are as follows: Context and Legislative Background The infringement procedure relates to the implementation of Directive (EU)...Read More

The Department of Registrar of Companies and Intellectual Property announced on the 28th of March 2024, in the context of facilitating compliance with the Register of Beneficial Owners, that by presenting a Declaration it is possible to find out in which companies someone is appointed as officer and/or Shareholder and the search will be made...Read More

On the 22/11/2022, the Department of Registrar of Companies and Intellectual Property announced that following the Directive 2018/843 of the European Court of Justice (ECJ) whereby Member States must ensure that the information on the beneficial ownership of companies incorporated within their territory should be accessible in all cases to any member of the public...Read More

The Council of Ministers reached a decision regarding the decree setting the national minimum wage, which is now set at the amount of €940 and will take effect as from the 01/01/2023. The decree specifies that in the first six months of the employment, the amount of the salary is fixed at €885 and subsequently...Read More

On the 03rd of August 2022, the Criminal Court of Nicosia imposed concurrent prison sentences, with a maximum of 9 years, in an accused, who, following a hearing, was found guilty of all 7 charges faced relating to crimes for sexual abuse of a minor occurred between September 2019 and March 2020. The Criminal Court...Read More