Introduction Upon the entering of Cyprus in the European Union (EU) in 2004, insurance and reinsurance brokerage in Cyprus has been a thriving industry that offers a wide range of services to both local and international clients. It is convenient to say that today the Cyprus insurance and reinsurance brokerage sector is highly competitive, and…
On 20th of November 2022 the employees of Y. Vasiliou & Co LLC participated in the 5th Radisson Blu Larnaka International Marathon. The Marathon was organized in cooperation with the Municipality of Larnaka and under the approval of the Cyprus Amateur Athletic Association. Under the motto “Together is always better!” the team create memorable moments…
Please note that the Department of Registrar of Companies and Intellectual Property, has announced its intention to deregister companies in case of non-payment of the Annual Levy for any year for the period 2012-2021. The companies at subject will be published in the Official Gazette of the Republic and after three months from the date…
With its Decision of October 15, 2021, the Council of Ministers approved the introduction of the The “Cyprus Digital Nomad Visa” Scheme allows nationals from non-EU and non-EEA countries, who can perform their work location-independently using telecommunications technology, to reside temporarily in Cyprus and work for an employer registered abroad or perform work through telecommunications…
Κατακόρυφη αύξηση των τροχαίων παραβάσεων στην Κύπρο σημειώνεται από τις αρχές του έτους όταν τέθηκε σε εφαρμογή το σύστημα φωτοεπισήμανσης με την χρήση κινητών τροχαίων καμερών στους δρόμους της Κύπρου. Ακόμη πιο πολλές κάμερες σταθερές και κινητές, έρχονται να προστεθούν στους δρόμους μέχρι το τέλος του 2022. Τι πρέπει να γνωρίζετε στην περίπτωση που ειδοποιηθείτε…
Sharp increase of traffic offences in Cyprus has been noted since the beginning of the year when the photo-marking system using mobile traffic cameras was implemented on the roads of Cyprus. Even more cameras, fixed and mobile, will be added to the roads by the end of 2022. What should you be aware of in…
Η Κυπριακή νομοθεσία ρυθμίζει εκτενώς δια μέσου σχετικών νομοθετημάτων και κανονισμών την διαδικασία που πρέπει να ακολουθηθεί σε περίπτωση που ένας άνθρωπος αποβιώσει χωρίς διαθήκη και έχει την κατοικία του εντός της Κυπριακής Δημοκρατίας ή στην περίπτωση που ένας άνθρωπος αποβιώσει εκτός Κύπρου χωρίς διαθήκη, ωστόσο, κατά την ημέρα του θανάτου του είχε ακίνητη περιουσία…
Cypriot legislation regulates extensively through relevant laws and regulations the procedure to be followed in case a person dies without a will and is domiciled in the Republic of Cyprus or in case a person dies outside Cyprus without a will, but on the day of his/her death he/she had immovable property located in the…
The Convention on the Recognition and Enforcement of Foreign Arbitral Awards, also known as the “New York Arbitration Convention” or the “New York Convention”, is one of the key instruments in international arbitration. The Republic of Cyprus is part of the convention along with 168 other states and proceeded with the transfer of the Convention…
The Council presidency and the European Parliament reached a provisional agreement on the markets in crypto-assets (MiCA) proposal in late June 2022 which covers issuers of unbacked crypto-assets, and so-called “stablecoins”, as well as the trading venues and the wallets where crypto-assets are held. This regulatory framework will protect investors and preserve financial stability, while…
Vasiliou & Co LLC (Vasiliou Law) is a multidisciplinary law firm, headquartered in Larnaca, Cyprus. Vasiliou Law is one of the fastest-growing Cypriot law firms, with extensive and expanding clientele, ranging from private individuals to global organisations. We met the founder and managing director of Y.Vasiliou & Co LLC. Yiannos Vasiliou and spoke with him…
On the 25th of June, 2021 Cyprus Securities and Exchange Commission (“CySEC”) introduced the Directive (269/2021) in regard to the registry of service providers whose business activities are related to cryptocurrencies “Crypto Asset Services Provider” (“CASP”) (see our previous published article on cryptocurrency exchange license in Cyprus). CySEC is the anti-money laundering and counter-terrorist financing…
A practical guide prepared by Y. Vasiliou & Co LLC for the process of buying a property in Cyprus. Buying a property in Cyprus is a process that is easy and fast. Below we mention all important points that you should be aware when buying a property in Cyprus. The legal framework Cyprus legal…
For the last years, Cyprus, which is an EU Member State, is one of Europe’s largest financial and Forex trading hubs. Cyprus Securities and Exchange Commission (CySEC) issued its very first Forex Brokerage license in 1988 and since then Cyprus has seen a huge increase in Forex Firms taking up residence, with over 40 now domiciled…