Protecting Your Assets Through Trust Formation
High-net-worth individuals with valuable possessions around the globe need effective asset protection tools to manage and safeguard their wealth, as a respond to the differing legislations and tax regulations of the various jurisdictions. A trust is one of the most effective legal tools available for anyone who requires maximum protection of their funds. It is a legal structure that allows...
Protecting Your Assets Through Trust Formation
High-net-worth individuals with valuable possessions around the globe need effective asset protection tools to manage and safeguard their wealth, as a respond to the differing legislations and tax regulations of the various jurisdictions. A trust is one of the most effective legal tools available for anyone who requires maximum protection of their funds. It is a legal structure that allows...
Cyprus Developments on Banking Sector – Overcoming the Difficulties
Cyprus is struggling with the worst crisis in its history since the 1974 invasion by Turkish military forces that divided the country in two. The island’s banking sector, holding assets more than eight times the size of the national economy, has been dangerously impaired by exposure to Greek banks, where individual bondholders underwent a 75% ‘haircut’ during 2012. The European Union and...
Cyprus Developments on Banking Sector – Overcoming the Difficulties
Cyprus is struggling with the worst crisis in its history since the 1974 invasion by Turkish military forces that divided the country in two. The island’s banking sector, holding assets more than eight times the size of the national economy, has been dangerously impaired by exposure to Greek banks, where individual bondholders underwent a 75% ‘haircut’ during 2012. The European Union and...
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...
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...
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...
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...
Supreme Court of Cyprus – Update on legal actions against Bank of Cyprus & Laiki Bank “haircut”
Supreme Court of Cyprus – Update on legal actions against Bank of Cyprus & Laiki Bank,“haircut”
The Cyprus’ Supreme Court on April 23, 2013 began reviewing appeals filed against the March 29, 2013 Eurogroup’s decision to wind down Laiki bank and impose massive losses on all deposits in excess of €100.000 at both Laiki and the BoC (Bank of Cyprus). The appeals were submitted by local and...
Supreme Court of Cyprus – Update on legal actions against Bank of Cyprus & Laiki Bank “haircut”
Supreme Court of Cyprus – Update on legal actions against Bank of Cyprus & Laiki Bank,“haircut”
The Cyprus’ Supreme Court on April 23, 2013 began reviewing appeals filed against the March 29, 2013 Eurogroup’s decision to wind down Laiki bank and impose massive losses on all deposits in excess of €100.000 at both Laiki and the BoC (Bank of Cyprus). The appeals were submitted by local and...