Panama law enters into force on January 1st 2017 the obligation for maintaining accounting records for legal entities that do not perform operations that are consummated, perfected or take effect within the Republic of Panama. Accounting records are the information that indicate in a precise way the commercial operations of
The provisions of the Cyprus Companies Law, Cap.113, relating to the winding up of Cyprus Companies may be either:- by the Court; or voluntary (which can be either a member’s voluntary winding up or a creditor’s voluntary winding up); or subject to the supervision of the Court. Members’ Voluntary Liquidation
Intellectual property, very broadly, means the legal rights which result from intellectual activity in the industrial, scientific, literary and artistic fields. Countries have laws to protect intellectual property for two main reasons. One is to give statutory expression to the moral and economic rights of creators in their creations and
When you purchase a property in Cyprus from a developer, your sales contract is deposited with the Cyprus Land Registry and title deeds are issued by the Cyprus Land Registry and transferred to you by the developer – but this takes a considerable amount of time. Before 2011, selling
New Revised Criteria and Procedure for Cyprus Citizenship by Investment On the 13.09.2016, the Council of Ministers announced the implementation of an updated procedure and a series of financial criteria for investors wishing to obtain the Cyprus Citizenship to non-Cypriot entrepreneurs/investors. According to Minister of Finance, the revision of the
The Leasing Law, Law 72(I) of 2016, came into force on 28.04.2016, aiming to regulate the provision of leasing services to the public, and ensure the supervision of the financial leasing services providers’ activities, targeting at a smooth operation of economy and the financial sector. The new legislation provides that
An overview of the current Data Protection Directive. How the new EU Data Protection Law will affect Companies? Background The European Union (hereinafter «EU») legislated the Data Protection Directive 95/46/EC (hereinafter «the Directive» or DPD) in order to provide a shield for the right to privacy and the
The Civil Registry and Migration Department announced that as of February 8th 2016, two new articles (the article 18FZ (7) of the Aliens and Immigration Law (Cap.105) and the article 4 of the Aliens and Immigration (Amending) (No 2) Law has entered into force and will be implemented for residence
