After many years of uncertainty, the United Kingdom officially left the European Union on 31st January 2020.
Technological advancements: Artificial Intelligence a Boon to the Legal Profession
As advances in law technology revolutionise today’s legal landscape, the role of the legal professional has evolved. The automation of legal processes has prompted lawyers and other legal professionals to become proficient at an ever-increasing collection of word processing, database, presentation, and legal research software.That being said, this article will further explain the concept of technological innovation in relation to smart contracts as well as their underlying technological foundation, future applications and legal implications.
PSD2 - Are You Ready For The Change?
PSD2: What is it? Summary:
The Second Payment Services Directive (“PSD2”) is a revised EU Directive on Payment Services that has seen implementation stages. It affects our everyday lives both as consumers and as businesses engaged in payment services, since the PSD2 relates to the legal framework on card-based transactions. Certainly, the PSD2 had caused a lot of discussion and worry at the time, but has already given a lot to the industry and has now much more to offer, changing in a way banking as we know it!
The GDPR aftermath: recent enforcement activities by data protection authorities
In the wake of the Global Data Protection Regulation (GDPR), the biggest shake-up of data privacy laws in the past decades currently marking over a year from its enforcement on 25.05.2018, we started witnessing how data protection authorities (DPAs) use their entrusted powers of investigation and enforcement for ensuring compliance with the GDPR.
Cyprus implements the EU Package Travel Directive
The tourism and leisure travel sector is one of the most advanced sectors in Cyprus. Travelers around the world mostly prefer to book their holidays online, a concept which likewise applies when travelling to our island.
Monitoring employees’ communications at workplace. Is it legal?
Tighter legal framework on money laundering- The Fourth EU Anti Money Laundering Directive
In an effort to combat money laundering and the financing of terrorists’ activities and to increase transparency, the European Commission issued the 4th AML Directive in May 2015 and repealed the previous one.
Oil and natural gas in Cyprus
There are considerable quantities, speculative and confirmed, of gas at East Mediterranean sea especially within the Exclusive Economic Zones (EEZ) of Israel, Egypt and such indicators have also turned the attention to Cyprus’ adjacent EEZ which is only 6km away from the recent biggest discovery of gas in the Mediterranean sea in Egypt’s EEZ, namely Zohr field, but also close to two giant field discoveries in Israel’s EEZ, namely Leviathan and Tamar, intensifying the interest in Cyprus’ EEZ despite the current low prices of oil and gas.
Directive 2002/47/EC on financial collateral arrangements
The Directive aims to produce a clear uniform EU legal framework for the use of securities and cash as collateral in financial transactions. Financial collateral is the property (i.e. securities) provided by a borrower to a lender to reduce the risk of financial loss to the lender if the borrower fails to meet their financial duties to the lender.
EU Air passenger rights Regulation 261/2004
Flight delays, flight cancellations and denial of boarding are matters which undeniably haunt the minds and lives of many people in the 21st century. Hence, the European Union considered it, and rightly so, a matter necessary for providing a legal basis for, which can act as a ground of safety and a shield of protection for the millions of air passengers crossing European grounds daily.
New Measures relating to Parental Child Abductions
The Parliament of Cyprus is seeking to enforce legislative measures regarding both the parental child abductions and the illegal restraints of children in countries other than Cyprus.
Information - UK residents conducting a Civil Wedding in Cyprus
The information provided relates as a basic guideline for British passport holders only. Non-British passport holders or clients with documentation issued outside of the United Kingdom should contact their own consulate or embassy.
EC proposals on modernisation of the Package Travel Directive
What will the reforms bring and how will they affect travellers?
Companies offering administrative services in Cyprus require authorisation.
Cyprus registered companies offering administrative services to other Cypriot registered companies need to be authorised by the Cyprus Securities and Exchange Commission (hereinafter called the ‘Commission’).
Retail Sale and Trade of Alcoholic Drinks in Cyprus
In order to sell, offer to sell, or hold with the purpose to sell alcoholic drinks in the Republic of Cyprus, one needs to obtain the license for the sale of intoxicating liquors (retailer’s licence and dealer’s license) by the Municipality, within which the premises are located, or in any other case by the District Officer of the District, within the boundaries of which the premises are located.
Instructions for Civil Weddings in Cyprus
People who wish to have a civil wedding in Cyprus must apply in person or through a lawyer practising in Cyprus to the Department of marriage services in Cyprus, at the Municipality of their choice (in Limassol, Paphos, Larnaca, Nicosia etc) with the following documents:
Foreigners have the opportunity of investing & establishing business in Cyprus on equal terms
What has really changed? The cornerstone of this analysis revolves around the notion that economic success is often linked with the necessary modifications and alterations that would enhance market growth. The question now turns to be what really changed in Cyprus reality. It was a well known fact that until recently there was a 49% restriction on foreign participation in Cypriot enterprises. This alone was subject to scepticism and suspicion by potential investors who regarded this restriction as an instrument of exploitation by their local counterparts.