Introduction

Cyprus’ legal framework is one of the strongest assets of the country due to the fact that, as a member of the EU, it is in compliance with EU Laws and Regulations and also as it is based on the English Common Law due to being a former British Colony. The combination of the above makes Cyprus a preferred investment hub as it offers a known and reliable framework within which international companies can operate.

After the accession of Cyprus to the European Union in 2004, the Cypriot Constitution was amended to give EU Law supremacy over national law.

Furthermore, Cyprus is fully compliant with the Financial Action Task Force on Money Laundering (FATF), the Organization for Economic Co-operation and Development (OECD) and the Financial Stability Forum.

Companies in Cyprus are established and regulated by the Companies Law (Cap 113) which is based on the English Law.

Cyprus has signed a number of Double Taxation Treaties with other countries which are based on the OECD model.

Cyprus is also a signatory to the Charter of the United Nations, the Statute of the International Court of Justice, the International Tribunal for the Law of the Sea, the Convention on the International Maritime Organisation, the Convention for the Protection of Human Rights and Fundamental Freedoms, the Convention Establishing the World Intellectual Property Organisation (WIPO) as well as many other multilateral conventions.

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