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Cyprus – New Definition for “Shell Companies”

18/12/2018

The Central Bank of Cyprus (“CBC”) issued a circular (Ref. BS 6020) on 02/11/2018, with the purpose of clarifying and further explaining the vague information and definitions about the so-called “shell companies” and entities in Cyprus and how licensed Financial Institutions should deal with them. This was highly needed as the original circular which was issued in June 2018 created uncertainties as to the treatment of various entities by the financial institutions.

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Cyprus – CYSEC Risk-Based Approach Guidance for the Securities Sector

05/12/2018

The Cyprus Securities and Exchange Commission (the ‘CySEC’), has issued a Circular on the 5th November 2018 (Circular C286), to inform the Regulated Entities that the Financial Action Task Force (FATF) has published a Risk-Based Approach Guidance for the Securities Sector.

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Cyprus – Passenger Name Record Directive

04/12/2018

The Cyprus Parliament has, on November 30th, 2018, approved the law which transposes the provisions of the Passenger Name Record (PNR) Directive of the EU (2016/681) into the national legislation.

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G. Vrikis & Associates LLC has been ranked amongst the top law firms in Cyprus

03/05/2018

We are proud to announce that the law firm of G. Vrikis & Associates LLC has been ranked amongst the top law firms in Cyprus and has been included in the Legal 500 EMEA 2018 results. We are recommended for the 2nd year in a row by the prestigious publication for our practice in the field of Corporate, Commercial and Mergers & Acquisitions.

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