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15.09.2016
Revised criteria for obtaining the Cypriot citizenship by investment
Corporate and Commercial Law, Employment and Immigration Law
The Cyprus Government, through the Ministry of Interior, has approved revised criteria for granting the Cypriot citizenship by investment, in an effort to further promote foreign direct investments in Cyprus. The Cyprus citizenship program, by way of investment, is now easier to achieve, as the required investment has been reduced from EUR 5 million if applied individually (or  EUR 2.5 million if going through a collective investment scheme), down to  EUR 2 million for all applicants. read more
14.04.2016
New Insurance Law transposes Solvency II Directive
Corporate and Commercial Law
The Cyprus Parliament has approved a new law and regulations on Insurance Services (“The Insurance and Reinsurance Services and Other Related Issues Law of 2016” and “The Insurance and Reinsurance Services and Other Related Issues Regulations of 2016”). The new legislation repeals and replaces the existing legislation of 2002, in line with the EU Directive 2009/138 (“Solvency II” Directive) as amended by Directive 2014/51/EU (“Omnibus II”) on the taking-up and pursuit of the business of insurance and reinsurance.
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11.04.2016
The Currency (Counterfeiting and Other Related Matters) (Amendment) Law of 2016
European Union Law
In line with the “EU Directive 2014/62 on the protection of the euro and other currencies against counterfeiting by criminal law”, the Cyprus Parliament approved an amendment to the Currency (Counterfeiting and Other Related Matters) Law. read more
08.04.2016
The Open – Ended Type Collective Investment Undertakings (Amendment) Law of 2016
Corporate and Commercial Law
An amendment of the Open – Ended Type Collective Investment Undertakings Law, 78(I)/2012, (UCITS Law) was approved by the Parliament, in line with the provisions of the EU Directive 2014/91 (“UCITS V Directive”). read more
07.03.2016
New legislation approved in conformity with the EU Directive 2014/59 (Bank Recovery and Resolution Directive - BBRD)
Banking and Secured Financing

Following a previous approval of the Deposit Guarantee Schemes Law, the Cyprus Parliament enacted a new legislative package for purposes of harmonisation with the EU Directive 2014/59 (Bank Recovery and Resolution Directive – BBRD). The package comprises amendments to the Financial Collateral Arrangements Law, a new law on the Recovery of Cyprus Investment Firms, a new law on the Resolution of Credit Institutions and Investment Firms and an amendment of the Operations of Credit Institutions Law.

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