The Law regulating Airbnb Accommodation in Cyprus
The Law regulating Airbnb Accommodation in Cyprus In January 2020, the Regulation of the Establishment and Operation of Hotels and Tourist Accommodation Law (the “Law”) has been amended to cover…
Temporary and Permanent Residence Permits in Cyprus
Temporary and Permanent Residence Permits in Cyprus Permanent Residence Permits Investors’ Residence Permits An expedited procedure exists for granting a residence permit to third country nationals who…
Amendments to the Rent Control Law
Amendments to the Rent Control Law Tenants who fail to pay relevant rent are protected by the Rent Control Law 23 of 1983 (the “Law”). Due to procedures and delays…
UK’s withdrawal from the EU
UK's withdrawal from the EU The United Kingdom (UK) is withdrawing from the European Union (EU) today, the 31st of January 2020. As a result, the Withdrawal Agreement, which…
Michael Damianos & Co LLC advises EBRD on up to EUR 10 million financing to Kormotech
Michael Damianos & Co LLC advises EBRD on up to EUR 10 million financing to Kormotech We are happy to have assisted, on the Cyprus level, the European Bank…
Compliance of the municipalities – members of the Nicosia Development Agency (ANEL) with the European Data Protection Regulation (GDPR)
Compliance of the municipalities – members of the Nicosia Development Agency (ANEL) with the European Data Protection Regulation (GDPR) The project is being undertaken by Michael Damianos & Co LLC…
Michael Damianos & Co LLC significant deal in 2019
Michael Damianos & Co LLC significant deal in 2019 The firm assisted Rybalkin, Gortsunyan & Partners in advising a member of AEON Corporation with respect to the acquisition of Fincraft…
CHANGES FOR SOCIETIES, INSTITUTIONS AND CLUBS
CHANGES FOR SOCIETIES, INSTITUTIONS AND CLUBS The Societies and Institutions and Other Related Matters Law of 2017, as amended (the “Law”), replaced the existing legislation with respect to societies, institutions…
Amendments to the Cyprus Investment Programme for obtaining Cypriot citizenship dated 25/07/2019
An amendment to the Cyprus Investment Programme has been recently made, as follows: The payment of the mandatory donations of at least €75.000 to (i) the Research and Innovation…
Clarification regarding the Cyprus Investment Programme
Announcement of the Ministry of Interior regarding the Cyprus Investment Programme On the 6th of May 2019 the Council of Ministers announced that it had decided that investors…