Unparalleled expertise. Effective solutions.https://demetriades.com/https://demetriades.com/cyprus-central-bank-introduces-new-licensing-process-for-electronic-money-and-payment-institutions/https://demetriades.com/cyprus-central-bank-introduces-new-licensing-process-for-electronic-money-and-payment-institutions/The Central Bank of Cyprus (CBC) has introduced a revised licensing process for Electronic Money Institutions (EMIs) and Payment Institutions (PIs), effective from 3 August 2026. The principal change is the introduction of a mandatory pre-application exploratory stage before a formal licensing application can be submitted. The CBC says the new stage is intended toWed, 07 Oct 2026 11:00:41 GMThttps://demetriades.com/cyprus-online-residence-permit-renewal-service-for-third-country-nationals/https://demetriades.com/cyprus-online-residence-permit-renewal-service-for-third-country-nationals/Cyprus introduced a new online service for renewing certain residence permits of third-country nationals. The initiative forms part of the Government’s broader digitalisation of immigration and public administration services. The platform allows eligible applicants, employers and authorised representatives to handle significant parts of the renewal process electronically, including submitting applications and documents, following application progressTue, 06 Oct 2026 19:30:04 GMThttps://demetriades.com/important-administrative-court-judgment-regarding-the-tax-treatment-of-impaired-bank-deposits/https://demetriades.com/important-administrative-court-judgment-regarding-the-tax-treatment-of-impaired-bank-deposits/A recent Administrative Court judgment concerning the tax treatment of losses arising from the impairment of bank deposits following the 2013 banking crisis represents an important development in Cyprus tax law. Having successfully acted for our client in the proceedings, our partner Katia Kakouli examines the judgment in her latest article for the e-newspaper ofTue, 11 Aug 2026 11:19:14 GMThttps://demetriades.com/cyprus-shipping-companies-and-nis-2-a-legal-framework-overview/https://demetriades.com/cyprus-shipping-companies-and-nis-2-a-legal-framework-overview/Cyprus is among the most significant ship-owning and ship-management centres in Europe and consistently ranks as one of the largest flag administrations globally. The entry into force of Directive (EU) 2022/2555 (the “NIS 2 Directive”) and its transposition into Cypriot law through the Security of Networks and Information Systems Law of 2020, as amended byTue, 11 Aug 2026 10:45:33 GMThttps://demetriades.com/foreign-direct-investment-screening-regime-update-on-commencement-of-operation-and-the-ministrys-guidance-on-scope-of-application-and-procedural-aspects-in-cyprus/https://demetriades.com/foreign-direct-investment-screening-regime-update-on-commencement-of-operation-and-the-ministrys-guidance-on-scope-of-application-and-procedural-aspects-in-cyprus/Recent developments continue to shape the implementation of the Republic of Cyprus’ foreign direct investment screening framework under the Establishment of a Framework for the Foreign Direct Investment Screening Law of 2025 (Law 194(I)/2025). Following a joint announcement by the Ministry of Finance of Cyprus and the Deputy Ministry of Research, Innovation and Digital PolicyFri, 03 Jul 2026 10:23:59 GMThttps://demetriades.com/cjeu-clarifies-the-interaction-between-aml-obligations-and-the-right-to-a-basic-payment-account/https://demetriades.com/cjeu-clarifies-the-interaction-between-aml-obligations-and-the-right-to-a-basic-payment-account/Case C-81/24, LH v OTP banka d.d. (Judgment of 11 June 2026) Introduction On 11 June 2026, the Court of Justice of the European Union (“CJEU”) delivered an important judgment on the relationship between consumers’ right to access a payment account with basic features and the anti-money laundering (“AML”) obligations imposed on credit institutions. InWed, 01 Jul 2026 18:25:38 GMThttps://demetriades.com/cyprus-and-crd-vi-preparing-for-the-new-eu-third-country-branch-regime/https://demetriades.com/cyprus-and-crd-vi-preparing-for-the-new-eu-third-country-branch-regime/The adoption of Capital Requirements Directive (EU) 2024/1619 (“CRD VI”) marks a significant development in the regulation of cross-border banking activities within the European Union. Among its most consequential reforms is the introduction of a harmonised third-country branch (“TCB”) framework governing the provision of core banking services by non-EU institutions to clients and counterparties withinThu, 18 Jun 2026 12:46:05 GMThttps://demetriades.com/ai-authorship-copyright-thaler-v-perlmutter-an-update-from-the-us/https://demetriades.com/ai-authorship-copyright-thaler-v-perlmutter-an-update-from-the-us/On 2 March 2026, the US Supreme Court declined a certiorari petition filed by Dr. Thaler (computer scientist) in relation to the D.C. Circuit Court of Appeals’ judgment in Thaler v. Perlmutter (Case No. 23-5233). The first instance case was filed by Dr. Thaler against the decision of the US Copyright Office to deny hisFri, 22 May 2026 14:25:40 GMThttps://demetriades.com/cost-of-living-allowance-cola-%CE%B1-%CF%84-%CE%B1-ministry-of-finance-circular/https://demetriades.com/cost-of-living-allowance-cola-%CE%B1-%CF%84-%CE%B1-ministry-of-finance-circular/The Ministry of Finance of the Republic of Cyprus issued Circular No. 1780 on 8/1/2026, setting out the framework for the application of the Cost of Living Allowance (COLA), aka A.T.A., for the period 1 January 2026 to 30 June 2027 in the public sector. The Circular is based on the agreement on the reinstatementWed, 20 May 2026 12:38:48 GMThttps://demetriades.com/construction-and-workplace-accidents-recent-guidance-from-the-cyprus-supreme-court/https://demetriades.com/construction-and-workplace-accidents-recent-guidance-from-the-cyprus-supreme-court/In two decisions delivered in early December 2025 (Α. ΕΡΓΟΛΗΠΤΙΚΗ ΕΤΑΙΡΕΙΑ ΓΙΑΝΝΑΚΗΣ ΓΙΑΝΝΗ ΣΥΜΕΟΥ & ΥΙΟΙ ΛΤΔ v. ΔΗΜΗΤΡΗ ΣΑΒΒΑ, Civ App. 266/2017, 2/12/2025 and ΑΛΕΞΗ ΑΛΕΞΑΝΔΡΟΥ ν. ΓΕΩΡΓΙΟΣ ΑΛΕΞΑΝΔΡΟΥ (ΚΑΛΑΜΟΥΔΙΑΣ) ΛΤΔ Civ App.301/2015,1/12/2025), the Supreme Court of Cyprus revisited key principles governing liability for workplace accidents in the construction sector. The cases concerned injuriesWed, 06 May 2026 16:55:52 GMThttps://demetriades.com/balancing-environmental-protection-heritage-and-development-lessons-for-cyprus/https://demetriades.com/balancing-environmental-protection-heritage-and-development-lessons-for-cyprus/Balancing environmental protection, cultural heritage and development is no longer a theoretical exercise; it is fast becoming a defining challenge for courts and policymakers alike. In her latest article, our partner Katia Kakoulli, published in the e-newspaper of the Great Britain-Cyprus Business Association, examines how recent Greek case law offers valuable guidance for Cyprus; articularlyWed, 06 May 2026 16:03:14 GMThttps://demetriades.com/cyprus-tax-reform-package-2026-an-overview-for-individuals-and-companies/https://demetriades.com/cyprus-tax-reform-package-2026-an-overview-for-individuals-and-companies/Widely welcomed by professionals and service providers, Cyprus’ most significant tax reform in over two decades marks a major step forward in modernising the country’s fiscal framework. The Cyprus Tax Reform Package 2026 introduces a comprehensive set of legislative changes affecting both individuals and companies, including developments in income taxation, capital gains tax, dividend taxation,Mon, 30 Mar 2026 10:55:01 GMThttps://demetriades.com/top-tier-rankings-in-chambers-and-partners/https://demetriades.com/top-tier-rankings-in-chambers-and-partners/We are proud to share that our firm has once again secured a prominent position in the Chambers and Partners Europe Guide 2026, being recognised among the leading firms in the jurisdiction. We are particularly delighted to highlight that our senior consultant and former managing partner, Chris Georghiades, has received the highest individual distinction ofTue, 24 Mar 2026 16:41:26 GMThttps://demetriades.com/eu-india-key-points-of-the-free-trade-agreement/https://demetriades.com/eu-india-key-points-of-the-free-trade-agreement/After many years of negotiations, the European Union and India have recently reached a preliminary free trade agreement aimed at facilitating trade flows, reducing tariffs, and simplifying customs procedures. The agreement covers markets that together represent around two billion consumers and encompasses goods, services, sustainability, and digital trade, with gradual implementation over an extended period.Thu, 12 Mar 2026 11:49:47 GMThttps://demetriades.com/sme-fund-2026-eu-support-for-intellectual-property-protection/https://demetriades.com/sme-fund-2026-eu-support-for-intellectual-property-protection/The European Union Intellectual Property Office (EUIPO) launched the SME Fund 2026, a grant scheme for small and medium-sized enterprises, on 2 February 2026 with a total budget of €60 million. The initiative is designed to reduce the cost of obtaining intellectual property (IP) protection for SMEs established in the European Union. It continues aWed, 11 Mar 2026 16:30:09 GMThttps://demetriades.com/contribution-to-the-the-legal-industry-reviews-saudi-arabia-edition/https://demetriades.com/contribution-to-the-the-legal-industry-reviews-saudi-arabia-edition/We are pleased to contribute to the 3rd edition of The Legal Industry Reviews, Saudi Arabia edition, with an article examining Cyprus as a strategic EU gateway for Saudi entrepreneurs and investors, authored by Pavlina Constantinides, Partner and Head of the Corporate Department of our firm. The article explores Cyprus’s geographic and regulatory advantages, recentWed, 18 Feb 2026 12:45:29 GMThttps://demetriades.com/new-eprocurement-system-in-operation-in-cyprus/https://demetriades.com/new-eprocurement-system-in-operation-in-cyprus/As of 3 February 2026, the new national eProcurement System is in operation in Cyprus, under the responsibility of the General Accounting Office of the Republic. The system forms part of the ongoing reform of the public procurement framework and replaces the previous electronic procurement platform. The new system provides an integrated digital environment coveringWed, 18 Feb 2026 12:39:37 GMThttps://demetriades.com/foreign-direct-investment-fdi-cyprus-screening-framework-qa-2/https://demetriades.com/foreign-direct-investment-fdi-cyprus-screening-framework-qa-2/Cyprus has enacted Law 194(I)/2025, establishing a national framework for the screening of Foreign Direct Investment (FDI). The regime is scheduled to enter into force on 2 April 2026 and will introduce an additional regulatory layer for certain investments and transaction structures with relevance to Cyprus. For investors, corporate groups and deal teams, this mayTue, 27 Jan 2026 19:13:20 GMThttps://demetriades.com/recognition-and-enforcement-of-foreign-judgments-and-arbitral-awards/https://demetriades.com/recognition-and-enforcement-of-foreign-judgments-and-arbitral-awards/Global business depends on the expectation that Court judgments and Arbitration awards will be respected beyond national borders. Yet, enforcing foreign judgments remains one of international law’s most fragmented areas. With instruments such as the Convention on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters (the “2019 Hague Convention”) gaining traction,Tue, 30 Dec 2025 13:45:04 GMThttps://demetriades.com/public-procurement-contracts-amendments-to-the-law-on-review-procedures/https://demetriades.com/public-procurement-contracts-amendments-to-the-law-on-review-procedures/The House of Representatives has enacted the 2025 Law Amending the Procedures for Review in the Field of Public Procurement Contracts, which introduces substantial changes to the main Law of 2010 (Law 104(I)/2010). Increase of the financial thresholdWith the amendment of Article 3(d) of the existing provisions, the value threshold of contracts is increased fromMon, 01 Dec 2025 14:24:54 GMT