A Long-Term Residence Permit is granted to individuals who have resided legally and continuously within the controlled areas of the Republic for 5 years prior to the submission of the relevant application and posses valid residence permits.
A Cypriot citizen has the right to submit an application with the competent authorities in Cyprus (the District Administration Offices) to change his/her name and/or surname, correct errors or make additions.
The Cyprus Companies Law recognizes three formal procedures for companies in financial difficulties:
A reorganization plan of the company and/or a settlement between the company and its creditors may be effected following the approval of the court;
The rapid growth of the real estate market in Cyprus and the complexity and variety of the related transactions led to the need of replacing the previous legislation regulating the specific performance of immovable property contracts.
The Late Payments in Commercial Transactions Law, Law No. 123(I)/2012 (“The Late Payments Law”) repealed the 2003 law on late payments in commercial transactions and harmonised Cyprus law with European Directive 2011/07/EU (the Directive repealed, with effect from 16 March 2013, an earlier Directive from 2000 (Directive 2000/35/EC) on combating late payment in commercial transactions).
Registration of EU citizens in Cyprus
EU Citizens are free to enter, leave, travel and live in Cyprus and may also engage in any economic activity, either as paid employees or self-employed persons, service providers or engage in any educational opportunity in Cyprus, under the same conditions as Cypriot citizens.
Tracing, Freezing and Discovery orders securing the execution of a foreign judgment in Cyprus.
Obtaining a favourable judgment is unfortunately not the end of the story for litigants as this should, following its issue, be executed and/or enforced, taking also into account the fact that many judgment debtors either fail or simply refuse to pay their respective judgment debt!
Interim injunctions in Cyprus- in simple words an interim injunction is the temporary order given by a court of law which tells someone either to do or not do something until an official decision on the case can be made.
Such applications may be submitted by foreign spouses of Cypriot nationals who have completed 3 years of marriage and harmonious cohabitation with the Cypriot spouse and two years of residence in Cyprus prior to the date of application (for spouses of overseas Cypriots please see below).
An EU Regulation (655/2014)1 which establishes an ex-parte Union procedure enabling a creditor – natural or legal person - to obtain a European Account Preservation Order against a debtor – natural or legal person - (“Preservation Order”) will be implemented in Cyprus on 18.01.2017.