News & Publications

On 3 July the European Stability Mechanism (ESM) and the International Monetary Fund (IMF) approved the disbursement of the latest tranches (€100 million and €280 million respectively) of financial assistance to Cyprus under the package agreed in 2013.

Both organisations expressed their satisfaction with the implementation of the economic adjustment programme, and the ESM Managing Director said that, “The legal framework for a new foreclosure procedure has entered into force, and there has also been a substantial reform of corporate and personal insolvency laws. These new regulations enable the country to effectively deal with the problem of non-performing loans (NPL). I trust that the government will continue its reform efforts so that Cyprus can sustain economic recovery.”

According to the IMF the Cyprus economy grew at an annual rate of 0.2 per cent in the first three months of 2015 after shrinking 2.3 per cent in 2014.

July 6, 2015

Disbursement of the latest tranches of financial assistance to Cyprus approved by ESM and IMF

On 3 July the European Stability Mechanism (ESM) and the International Monetary Fund (IMF) approved the disbursement of the latest tranches (€100 million and €280 million […]
May 17, 2015

Cyprus Investment Company CIF And FOREX Companies

It is useful for you to be familiar with some of the aspects of the relevant legislative framework in relation to CIFs. It is CIFs are […]
March 17, 2015

Company Formation in Cyprus Frequently Asked Questions

1. What types of business entities can be registered in Cyprus? The following five types of businesses may be registered under Cyprus law: 1. Limited liability […]
March 14, 2015

Appointed as legal advisor to Cyprus Popular Bank Public Limited as Laiki Legacy.

Tornaritis Law Firm  has been appointed as legal advisor to the Special Adminstrator of Cyprus Popular Bank Public  Limited. Legacy Laiki, which is being run by […]