Cyprus Law Blog

The proposed statute shall establish a Cypriot Betting Authority to regulate the gambling industry, which shall accept, review and decide over applications for relevant licences and permits

Cyprus and Qatar signed on 21/4/10 a 400 million euro deal to develop a hotel, residential and commercial complex in central Nicosia. The project will be located on some 250,000 square metres of prime land at the entrance of Nicosia, just across the road from the Hilton hotel. Qatar and Cyprus are setting up a 50:50 joint venture that [...]

The European Commission has officially approved Cyprus’ shipping taxation system. The taxation scheme allows companies to opt for a tax calculated on the net tonnage of the fleet that they operate instead of being taxed on the actual profits of their maritime transport activities. “This approval constitutes perhaps the most important success for Cyprus Shipping [...]

Cypriot courts have a fully established judicial power to grant interim orders over various issues with an international effect. Namely, the Cypriot legal order has incorporated the power of the courts to issue freezing orders towards protecting assets in risk of alienation or towards preserving a status quo of assets pending the final and conclusive [...]

Earlier today in the UK, the Court of Appeal ruled in favour of the Claimant, Meletis Apostolides, in the pivotal case Apostolides v Orams.  The Judgment provides for a Judgment of the District Court of Nicosia, Cyprus, to be registered and enforced in the UK. The latter judgment concerns the the Orams couple, which had illegally purchased land [...]

The Cyprus Commission for the Protection of Competition (CPC) issued its long-awaited decisions in connection to the investigation it carried into the retail fuel market of Cyprus. The investigation concerned the respective violations of national competition legislation on behalf of the four main Cypriot oil companies, namely ExxonMobil Cyprus Ltd (Exxon), Petrolina (Holdings) Public Ltd [...]

In an Opinion commissioned by the Republic of Cyprus and signed by Professors Amerasinghe, Dugard, Pellet, Schabas, Tomuschat and Sir Ian Brownlie,  the international jurists have concurred that the well-established rule of customary international law that in case of injury to an alien, local remedies must be exhausted before international proceedings may be instituted, is not applicable [...]

The German Ministry of Finance has announced on01/09/2009 that it had initialled the text of a revised double taxation treaty with Cyprus. The revised treaty allows for the exchange of information on tax matters between the two countries’ authorities, in accordance with Art. 26 of the OECD model convention. The agreement will allow the respective countries’ tax authorities [...]

The first wind park in Cyprus is underway and will be ready by the end of 2010. The contract for the connection of the first Wind Park, of a total power of 82MW, with the electricity transmission network in Cyprus was signed on July 19 between the transmission system operator of Cyprus and the producer.