N. Pirilides & Associates LLC


Offering high-quality and effective legal advice



According to Section 29 of the Cyprus Companies Law Cap. 113 (the “Law)” a private company, is a company which by its articles of association (a) restricts the right to transfer its shares;...
The UK’s immigration policy is currently in a state of flux due to the referendum decision of 23.06.2016 by which the UK public voted to leave the EU.
Acquiring Cyprus citizenship entitles a person, amongst others to live and work in Cyprus without any restriction as well as travel without any formalities within the EU.
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The Late Payments in Commercial Transactions Law, Law No. 123(I)/2012 (“The Late Payments Law”) repealed the 2003 law on late payments in commercial transactions and harmonised Cyprus law with European Directive 2011/07/EU (the Directive repealed, with effect from 16 March 2013, an earlier Directive from 2000 (Directive 2000/35/EC) on combating late payment in commercial transactions).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.
The Board of Directors of a CIF shall consist of at least two executive Directors and two independent non-executive Directors. The majority of the Directors shall be Cyprus residents.
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).
Cyprus is currently holding the 10th largest merchant navy in the world and the 3rd largest in the European Union.
Currently, Cyprus citizens wishing to travel to the United States even for a short three days need to apply for a non-immigrant travel visa.
The House of Representatives voted recently the Termination of Employment Law 2016 (as amended) (N.89 (I)/2016).
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.
In 2015 the Supreme Court proceeded into a number of amendments regarding the Civil Procedure Rules applying in Cyprus and more specifically regarding Orders 25 and 30.
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.