CYPRUS SHIPPING INDUSTRY: MORTGAGES
Shipping is an important sector of the Cyprus economy. Consequently, shipping finance constitutes an essential part of Cyprus shipping industry. International and national financial institutions may shape the development of the shipping industry in the island. Apart from banking and financial institutions, another important dimension that should be taken into account is the provision of...
REGISTRATION OF SHIPS IN CYPRUS
Cyprus is a major international shipping centre. In the article “International Shipping Companies Choose Limassol,” Michael Chambers explained the major incentives that motivate international shipping companies to establish their operations in Cyprus. In this article Michael Chambers presents the basic information concerning ship registration procedures in Cyprus. Generally, the Policy and...
Foreign Currency Loans Embed an Exchange Rate Risk: The Case of SWISS FRANC Loans
Loans and mortgages in SWISS FRANC became popular in Cyprus after 2006, the year when the Republic was a candidate country to assess the EURO zone. During this particular period, SWISS FRANC loans were attractive because the cost of borrowing was relatively low. Notably, within the period 2006-2009, thousands of investors took loans in SWISS FRANC. Nevertheless, the sudden appreciation of...
International Shipping Companies Choose Limassol
Cyprus is a leading market in ship management. Tax incentives and well-developed business infrastructures attract ship owners and shipping companies from all over the world to register and launch their services in Cyprus. Shipping is an important sector of the Cyprus economy. Ship management activities account almost 6% of Cyprus GDP. Precisely, Cyprus is the largest third party ship...
Divorce in Cyprus: Parental Care
An important dimension of Family Law is parental care. In general, the term parental care denotes the right and the responsibility of parents towards minor children. The parental care is exercised by both parents. That is to say, both of the parents are responsible for the welfare of their children, and at the same time they have the right to have a contact with them.
In Cyprus, parental care...
Division of Assets: an essential matter of marriage dissolution
Among the most important parameters of a marriage dissolution or annulation is the division of assets. That is to say, either party has the right to claim his or her contribution to the increase of the property of the other partner. In this point, it should be underlined that Cyprus jurisdiction applies in case the parties have lived in the Republic of Cyprus for at least three months,...
Cyprus: An Attractive Intellectual Property Destination with Considerable Tax Incentives
Intellectual property is the field area of law that approaches the protection of the rights of the creators of original works. It includes everything, i.e. literature, music, inventions and trademarks. Generally speaking, the main purpose of intellectual property jurisdiction are to endorse the development of new technologies, inventions, arts and promote economic growth and innovation. That...
Online gambling jurisdictions: Malta, UK, Curaçao, Antigua and Barbuda, Isle of Man
Despite the global perspective of internet, online gambling regulations are not universal. That is to say, each region has its own jurisdictions that cover the relevant legal issues, such as licensing. For instance, the legislation in some areas permits them to grant licenses and regulate companies they run online gambling sites or supply industry services, i.e. gaming software. The...
Cyprus International Trust Law
The International Trust Law (No. 69/1992) legislation facilitates the formation and administration of an international trust. The law built on the existing Cyprus trust legislation of 1995 (The Trustees Law, CAP. 193). The amendment of Cyprus trust legislation introduces innovative provisions and provides considerable incentives for the establishment of trusts in Cyprus. Furthermore, Cyprus...
Maritime security for ships flying the Cyprus flag
Cyprus is the third biggest maritime fleet in the EU and the tenth biggest fleet in the world. Generally speaking, Cyprus is a strategic market leader for many reasons. Firstly, it is located at the crossroads of three continents, Europe, Asia and Africa. Secondly, Cyprus has double tax treaties with 45 countries and bilateral agreements of cooperation in merchant shipping with 23 countries....