Collateral Oral Agreements: When an Oral Assurance Prevails over the Written Contract Muskita Aluminium Industries Ltd and Others v. Alsako Aluminium Ltd and Others (2009) 1 C.L.R. 1481 — Civil Appeal No. 381/2006, judgment dated 23/11/2009 Introduction In Muskita v. Alsako, the Supreme Court of Cyprus (Nikolaides, Fotiou, Erotokritou, JJ.) upheld a first-instance judg...

Παράλληλη Προφορική Συμφωνία (Collateral Agreement): Πότε η προφορική διαβεβαίωση υπερισχύε&iota...

On the 13th of September 2016 the Council of Ministers announced the creation of new criteria for the citizenship by investment scheme. The minimum investment amount has been reduced to 2 Million Euros from 2.5 Million Euros under the former scheme. The new criteria have immediate effect but investors who have already applied for the citizenship under the previous scheme have ...

The Cyprus – India Double Tax Treaty: A Gateway for Investment Between Europe and Asia Introduction Cyprus and India enjoy longstanding commercial and financial ties, underpinned by the Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (the "Treaty"). The current Treaty was signed in Nicosia on 18 Novem...

Lante Enterprises Limited ν. Στέλλας Ιωάννου και Ελληνικής Τράπεζας Δημόσιας Εταιρείας Λτδ, Α&gamm...

Lante Enterprises Limited v. Stella Ioannou and Hellenic Bank Public Company Ltd, Action No. 3575/2013, District Court of Larnaca, interim judgment dated 10 March 2014 Bank guarantees and the principle of autonomy — Assignment of a guarantee to a third party — The requirements of section 32 of the Courts of Justice Law — Non-disclosure of material facts and a...

Residential property prices in Cyprus continued to fall in the final quarter of 2014 but some local agents are reporting an increase in sales. Average price of houses fell by 1.1% and apartments by 0.7%, according to the latest index from the Royal Institute of Chartered Surveyors (RICS).  The country’s property market was particularly badly hit during the global e...