Insights
Practical commentary on the legal developments that affect businesses and individuals in Cyprus.
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GDPR & Data Protection
Introduction. The GDPR applies to the processing of personal data that is wholly or partly by automated means or the processing other than by automated means of personal data which forms part of, or is intended to form part of, a filing system. But what is the “personal data” under the GDPR? The definition of … Read More
Company & Corporate Law
Introduction If you are a Crypto Asset Services Provider (“CASP”), within the meaning of the Prevention and Suppression of Money Laundering and Terrorist Financing Law (“AML/CFT Law”), that provides services in or from Cyprus, you must formally register with the Cyprus Securities and Exchange Commission (“CySEC”). A Crypto asset service provider, as defined under 2(1)… Read More
Banking & Finance
The Alternative Investment Funds Law. The passing of the Alternative Investment Funds Law in July 2018 has been welcomed as a significant development that modernized the Cyprus's regulatory framework as regards alternative investment funds. Advantages of setting up a Alternative Investment Fund in Cyprus. The legal regime which is in line with the relevant EU Directives, coupled… Read More
Banking & Finance
The Registered Alternative Investment Fund (RAIF). The Alternative Investment Funds Law 2018 (AIF Law, Law 124(I)2018), that came into force on 31/07/2018 introduced a new fund management vehicle known as the Registered Alternative Investment Fund (RAIF). A major advantage of the RAIFs is that they do not require formal permission by the Cyprus Securities and… Read More
GDPR & Data Protection
The Rights of Data Subjects. The GDPR strengthens the already existing rights of the Data Subjects under the Data Protection Directive (officially Directive 95/46/EC) and also creates new rights for the Data Subjects. The rights of the Data Subjects under the GDPR are: -The right to be informed -The right of access -The right to… Read More
Real Estate Law
What is Stamp Duty in Cyprus? Stamp duty is a government tax payable on most contracts and written agreements in Cyprus, including property sale agreements. It is applied to the total value stated in the agreement and is collected by the Cyprus Tax Department. Although paying stamp duty is not a precondition for an agreement… Read More
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