A land sale deal between a Greek Cypriot and a Turkish Cypriot has been declared null and void by the Supreme Court. The owner of the property located in the Paphos district, a Turkish Cypriot woman had initially agreed to sell to a Greek Cypriot. Both parties were permanent residents of Australia. However, the Turkish Cypriot owner, decided to call off the deal after discovering the true value of her land. The prospective buyer, who had already submitted 150.000 Australian dollars a... [read more]

  On the 25/7/2008 an amendment of Article 18 of "The Adoption of the Euro Law of 2007" which sets out the provisions for the conversion of companies' capital from Cyprus pounds into Euro was published. Article 18 required members of a limited liability company to pass a resolution to convert and round into Euro the company's capital at a general meeting, and required the resolution to be registered with the Department of the Official Receiver and Registrar of Companies. As... [read more]

  Tsitsios & Associates LLC maintains a number of ready made (shelf) Companies i.e business entities that were pre-registered with the sole purpose of being sold. These Companies have no assets or liabilities and have never conducted business. Corporate documentation of such Companies could be delivered to prospective clients within 24 hours from instructions. List of available ready made (Shelf) Companies:    Name Registration Numb... [read more]

  On the 24/6/2008 the European Court of Human Rights (Fourth Section), delivered two judgments - in the cases of Isaak v Turkey (application no. 44587/98) and Solomou v Turkey (no. 36832/97) - ordering Turkey to compensate the families of two Greek Cypriots - after found Turkey responsible for their deaths. The Court held unanimously that, in both cases, there had been a violation of Article 2 (right to life) of the European Convention on Human Rights in respect of the killing of Anastasios Isaak... [read more]

As a result of the adoption of the Euro in Cyprus from the 1st of January 2008 pursuant to "The Adoption of the Euro Law of 2007", the share capital of a limited liability company either by guarantee or by shares, which is denominated in Cyprus pounds should be converted and rounded into Euro. The Company must register the relevant resolution with the Department of the Official Receiver and Registrar of Companies within the period from 1/1/2008 to 31/12/2008. The resolution must refer to the con... [read more]

  The law office of Mr. Chrysostomos Tsitsios and the lawyers Zacharias Zachariou, Andreas Loizou and Tasos Kyrmitsis proudly announce the establishment of TSITSIOS & ASSOCIATES LLC as from 1st April 2008.  TSITSIOS & ASSOCIATES LLC is a legal limited company registered in Cyprus under the Advocates Act (Cap.2) and regulated by the Cyprus Legal Council. A list of the members of TSITSIOS & ASSOCIATES LLC is open to inspection at its registered office at 5 Soteras Str., ZEFKAS ... [read more]

  As of 1 January 2008 the Euro (€) is the official currency of Cyprus, replacing the Cyprus pound as the legal tender money of Cyprus at the irrevocable fixed exchange rate €1=CY£ 0,585274. Dual display (in pounds and Euro) of the prices of goods and services provided to consumers is compulsory from 1 September 2007 until 30 September 2008. From 1 February 2008 cash in Cyprus pounds ceased to be legal tender and is not accepted for payments. All payments are carried out in Euro. ... [read more]