If you have obtained a judgment or court order, you will want to enforce it in a jurisdiction where the judgment debtor has assets or is located in order to receive whatever the court has granted. EC Regulation No. 805/2004 which introduced the European Enforcement Order (“EEO”) provides a means to enforce foreign judgments within the European…
In order to provide a simplified legal framework for people who have private and financial interests in at least two countries, both within and outside the European Union, EU Regulation 650/2012 (or “Brussels IV”) was adopted on 4 July 2012 (the “Regulation”). The Regulation entered into force on August 17th, 2015 and is applicable to…
The European Court of Justice (“ECJ”) in Federación de Servicios Provados del sindicto Comisiones obreras (CC.OO.) v. Tyco Integrated Security SL, Tyco Integrated Fire & Security Corporation Servicios SA held that, “when workers…do not have a fixed or habitual place of work, the time spent by those workers travelling each day between their homes and…
The Wills and Succession Law determine who will inherit a person’s estate when they pass away. Cyprus succession law provides for “forced heirship”. The rules of forced heirship in Cyprus are fairly complex and inheritance depends upon which family members survive the deceased. The significance is that law determines who will inherit a person’s estate…
1. Introduction The questions below are intended to help shareholders identify and, if relevant, negotiate certain (indicative only) matters regarding regulation of a Cyprus company. The questions are aimed at providing a starting point for discussions between the owners regarding the establishment of a management structure of a Cyprus company. Note that not all the…
1. Introduction Cyprus Company Law is based on the principle of the majority rule. Consequently Cyprus courts will not generally interfere in the internal management of companies. However, in cases where shareholders become oppressed by the controlling or majority shareholders or even the board of a Company, minority or oppressed shareholders can seek redress and…
The Cyprus parliament approved a new insolvency framework aimed at streamlining and modernising the existing system and promoting a rescue culture. The legislation includes the enactment of entirely new legislation and amendments to existing legislation and relates to the insolvency of both natural and legal persons. The new Insolvency framework The new insolvency framework comprises…
On the 20.11.2012 the European Parliament voted in favour of the proposed “recast” Brussels Regulation. The recast Brussels Regulation (EU Regulation 1215/2012) will be applied by Member State courts from the 10.01.2015. An overview of the main areas of reform under the recast Brussels Regulation are listed below in summary form. The main areas of…
On the 16th of October 2014, the European Commission requested that Cyprus and Luxembourg fully implement Directive 2011/77/EU of the European Parliament and of the Council of 27 September 2011 amending Directive 2006/116/EC on the term of protection of copyright and certain related rights. The Directive extends the term of protection for performers and sound…
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…