Employment Law Update: Directive (EU) 2019/1158 on work-life balance for parents and carers

The Directive was published on the 12.07.2019 and comes into force on the 01.08.2019. The directive has to be implemented into national law by the 2.08.2022 at the latest.

The Directive “lays down minimum requirements designed to achieve equality between men and women with regard to labour market opportunities and treatment at work, by facilitating the reconciliation of work and family life for workers who are parents, or carers”.

Company Law Update: Registration of Charges

The Registrar of Companies and Official Receiver announced on the 15.03.2019 that following clarifications received from the Attorney General regarding Article 90 of the Companies Law, Cap. 113, charges relating to the pledging of foreign share certificates or the charges resulting from them, will be accepted for registration as was the practice previously. The announcement…

Banking Law Update: New leasing law

The House of Representatives passed legislation regulating the provision of leasing services. The legislation has affect as of the 28.04.2016. The new legislation provides that, with limited exceptions, businesses providing leasing services must be authorised to provide such services. Businesses which: (a) do not deal with the public; or (b) whose principal business activity is…

Tax Update: Cyprus and Switzerland sign new agreement for the avoidance of double taxation (DTA)

On the 25.07.2014 Cyprus and Switzerland signed an avoidance of double taxation agreement and relevant protocol. A Finance Ministry press release said, that the new agreement will contribute to further developing trade and financial relations between the two countries as well as with other countries. The ministry further stated that maintaining, updating and signing new…