Insights
Practical commentary on the legal developments that affect businesses and individuals in Cyprus.
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Banking & Finance
As at July 2019. I am publishing this article as additional guidance to our clients that operate a bank account through a company in Cyprus or wish to open a new one. I have divided my article to two main headings. Opening a bank account with a commercial bank and Opening a bank account with… Read More
Banking & Finance
The Central of Cyprus (CBC) informed last week the commercial banks of the island that it will amend the Anti Money Laundering Directive to include a new definition of shell companies. The aim of the CBC is “force” commercial banks to cease any business relationship with companies coming from zero tax jurisdictions like Seychelles, Belize and the BVI and introduce… Read More
Banking & Finance
In an interview to journalist Christodoulos Christodoulou (CYBC 2, Biz-Εμείς, 09/05/2014), Christophoros Christophi explains the rights of consumers that made loans from commercial banks in view of the haircut and the economic crisis and the inability of thousands of borrowers to repay their loans. Specifically he makes reference to the rights of borrowers to ask restructuring… Read More
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