Suffering Depositors Taking Legal Actions against Banks
The main condition for Cyprus to get the €10 billion loan package, as agreed between the government and the Eurogroup, is the restructuring of the country’s two leading banking institutions, through the resolution of Laiki Bank and the recapitalisation of Bank of Cyprus (BoC). The plan provides for transferring Laiki’s deposits under €100,000, its loans and its €9 billion liabilities from the...
Benefits Enjoyed by Cyprus Shipping Companies
With the global economic turmoil having a huge effect on the worldwide shipping industry, the visionary policies of Cyprus are demonstrating high levels of commitment towards ensuring the growth and wellbeing of Cyprus shipping companies. The country’s simplified registration procedures, favorable taxation regime, well-developed infrastructure and advanced safety policies have established the...