05 Oct

New Civil Procedure Rules

New Civil Procedure Rules Template Forms

Author: Government Authority Litigation Read more...

19 Sep

Shareholders Agreements: Key Commercial Questions to be Addressed by Shareholders.

A shareholders agreement is a crucial legal document that governs the relationships between shareholders of a company, establishing both their rights and obligations. Creating an effective shareholders agreement is a pre-emptive measure against future conflicts and misunderstandings, and it serves to create legal certainty as to a wide range of issues that commonly arise which ultimately serve to secure everyone’s interests no matter the point in the lifecycle of the business, change of circumstance or environmental threats and opportunities. To ensure that the agreement serves its intended purpose, it’s important for shareholders to discuss and agree upon various commercial matters.

Author: Varnavas Playbell Corporate shareholders agreement, Questions Read more...

18 Jul

Foreign Interest Companies and Employment

This memorandum of advice briefly sets out the legal and regulatory framework in connection to the third-country nationals that will be employed in Foreign Interest Companies in Cyprus. Specifically, it sets out the applicable legislation, the relevant authorities, the application process and the documentation required in order to for a third-country national to be employed in the Republic of Cyprus. Although generally, a Cyprus company must give priority in employment recruitment to Cypriots and EU nationals before attempting to employ third-country nationals, there is an exception enabling companies of foreign interests to give priority to the employment of third-country nationals instead of locals and EU nationals, provided that certain requirements are met.

Author: Panayiotis Paraskeva Employment employment, companies, legal, employee, Cyprus, Law Read more...

12 Jul

Standard Tenancy Agreement (STA)

This document is a standardized tenancy agreement under Cyprus law

Author: Varnavas Playbell Commercial, Property tenancy agreement, standard tenancy agreement, standard, tenancy, rent, let, ενοικιαστήριο, ενοικιαστής, landlord, tenant, rent agreement, rental agreement, lease, standard lease Read more...

30 Nov

Acquisition of Cyprus Investment Firms and Other Regulated Entities

This practice memo describes the legal and practical consideration in connection to sale and purchase of shares in Cyprus private companies, the activities of which constitute regulated activities and require a licence from a relevant authority pursuant to applicable laws. It includes information on, inter alia, the various types regulated activities, the legal requirements, the practical requirements, the process, the memorandum of understanding and other preliminary agreements, the due diligence exercise, the relevant subscription agreement and/or share purchase agreements, conditions precedent, regulatory approval, conditions subsequent, material terms and warranties, execution, completion or "closing" meetings and exchange of documents, escrow arrangements, pre-emption rights, change of management, AML compliance and payment issues, relevant timeframes, date of effect, indicative fees and other relevant matters. It goes further to include a step plan for the entire process and a description of all revenant documents.

Author: Varnavas Playbell Corporate acquisition, transfer of shares Read more...

24 Nov

Make or Buy One? Acquisition of a Cyprus Investment Firm and Other Regulated Entities

New entrants in the financial services market or those strategically expanding or relocating often have the idea to acquire a Cyprus Investment Firm (CIF) rather than undergo the process to apply to the Cyprus Securities and Exchange Commission (CySEC) ab initio and obtain a licence. The underlying objective is to save time and to make the process easier by paying a little premium. Is this however true? Any practitioner will tell you that it may not be so straightforward. The answer lies in the manner such transactions are structured and the common misconceptions and pitfalls which both buyers and sellers encounter only when its too late. That’s why it is vital before undertaking such an endeavor to have all consideration at hand, legal and practical.

Author: Varnavas Playbell Corporate, Financial Services, Property cysec, financial services, cif Read more...

18 Jul

Establishing a business in Cyprus by Foreign Nationals

A brief but comprehensive guide for establishing a business in Cyprus by foreign nationals.

Author: Varnavas Playbell Corporate, Company Formation, Immigration, Litigation Cyprus, establishing a company, foreigners Read more...

26 Aug

PROXY FORM

Proxy form for annual general meeting

Author: Varnavas Playbell Corporate Read more...

26 Aug

Update: Beneficial Owner Registry - Guidance on the Mandatory Registration by all Cyprus Companies

The Council of Ministers (16/12/2020) decided to transpose the 5th Anti-Money Laundering Directive (AMLD) at a national level and have implemented a central registry of Ultimate Beneficial Owners (“BO Registry”) that consists of the detailed information of the natural persons who ultimately own or control a legal entity.

Author: Maria Konstantinidou AMLD, BOregistry, beneficial owner, bo, financial burden Read more...

26 Aug

Registrar Forms - Request for a hearing (Type ΕΣ 21)

This document is the relevant form (type ΕΣ 21) that requests for a hearing for the application for registration of a Trademark under the Cyprus Trademarks Law, Cap. 268, as amended (See Practice Memo: Registration of Trademark). It is provided in Greek. The form is in pdf.

Author: Government Authority Corporate Registrar Forms, request for hearing, registration of trademark, ΕΣ 21, Ε.Σ 21, ΕΣ. 21, Ε.Σ. 21, ES 21, E.S 21, ES.21, E.S. 21 Read more...