25.-(1) Subject to the provisions of Article 26, when the owner of an indivisible shareholding in immovable property makes a statement to the Department of Lands and Registry that he has agreed to sell it to a person who is not a co-owner in the same property, the transfer of that portion shall not be recorded unless:
25.-(1) Τηρουμένων των διατάξεων του άρθρου 26, όταν κύριος εξ αδιαιρέτου ιδανικής μερίδας επί ακίνητης ιδιοκτησίας προβεί σε δήλωση ενώπιον του Επαρχιακού Κτηματολογικού Γραφείου ότι συμφώνησε να πωλήσει αυτήν σε πρόσωπο που δεν είναι εγγεγραμμένος συγκύριος στην ίδια ιδιοκτησία, η μεταβίβαση της μερίδας αυτής δεν εγγράφεται εκτός αν
RIGHTS OF PASSAGE – ON IMMOVABLE PROPERTY IMMOVABLE PROPERTY (TENURE, REGISTRATION AND VALUATION) LAW (CAP 224) What the Immovable Property Law (Cap 224) states regarding the Right of Way ? It is a fact that in Cyprus a lot of times there can be a long procedure in obtaining a right of way. Rights of Way are usually claimed through the Land Registry Department from owners of properties that have no access to a public road and usually they want to develop their properties. The following are stated in the Law (CAP 224) regarding the Rights of Way/Passage from one immovable property to the other. Rights...
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How to Register a New Company in Cyprus - Requirements The actual time to register a company in Cyprus depends on the existing workload of the registration department of the Registrar of Companies. However, to register a company from the beginning, it takes approximately 10 to 18 working days. Steps to be followed while registering a company in Cyprus. The first step in any registration is to give the company a name. A name or names, must therefore be submitted to the Registrar of Companies for approval. This can take between 3 - 6 working days. Once approval has been received, it is...
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The real estate market in Cyprus has been in a high demand on the international level for the past few decades. Great location, over 300 sunny days within a year, safety and economic stability have made the island of Cyprus a very desirable for living. With the new outstanding real estate projects including towers all over island which are inspired mainly by the government citizenship program, the forecast for the market is the growth with the geometrical progression. When it comes to sale or a purchase of a property Michalaki, Pitsillidou & Co LLC have a great expertise in the field...
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In the last years, the development of the global and local economy and the desire of an international action let to the massive increase of small and big enterprises. Namely, in Cyprus the number of corporations it seems to have an upward tendency year by year. However, the corporations do not always work properly and without any problems since the matters which may arise from its operation. Also, there are several legal steps which are provided by law to register a company and to maintain its function in line with the Cyprus Company Law (CAP 113). Michalaki, Pitsillidou & Co LLC...
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“When you think to create an offshore company, the jurisdiction of Hong Kong should be certainly considered as a base among the list of other choices. Why choosing Hong Kong? Hong Kong is known to be a secure, and safe place not only for living but also for making a successful offshore business. Being a hub for big international companies and surrounded by the safe economic environment, HK creates flourishing area for building a business. Another important reason is strategical location which is the Asia’s heart with an easy access to the mainland of China. Hong Kong is a special...
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Privacy and security policy Michalaki, Pitsillidou & Co LLC is a law firm offering extensive legal services in many areas of law. As a law firm, we are committed to preserving your personal data that we handle in an open and transparent manner. Michalaki, Pitsillidou & Co. LLC Law Firm considers the data privacy as a fundamental component of the business activity. Our privacy policy and practices focus on processing, sharing and storing personal information properly and legally, while granting privacy, integrity and availability. We would like to assure you that your personal data and privacy are extremely important to us...
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Regulation on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (General Data Protection Regulation) (679/2016/EU Purpose limitation This criterion requires financial institutions to be able to justify the use of certain data categories as well as ensure the data is accurate and updated over time. This is done by defining a purpose for the collection of personal data and ensuring that any further processing is compatible with the original purpose. Data accuracy and data minimization According to GDPR, data must be accurate and up-to date, adequate, relevant and not excessive...
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The Cyprus Securities and Exchange Commission (“CySEC”) draws the attention of the Cyprus Investment Firms (“CIFs”) to the ESMA Press Release in relation to the product intervention measures on contracts for differences and binary options, issued by the European Securities and Markets Authority (“ESMA”) on 27 March 2018. The Press Release has been published in all of the official languages of the European Union (“EU”). ESMA has agreed to use the powers vested in it pursuant to Article 40 of Regulation 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments (“MiFIR”),...
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