News archive

The Limited Liability Shipping Company

The Limited Liability Shipping Company (the “LLSC”) Law, passed by the House of Representatives, creates a new type of corporate entity, with the ownership and operation of Cypriot vessels as its purpose.

Real estate

As the real estate market has recently expanded, demand grows, we have a number of projects in the market that have begun to develop, the completion of which is planned only in the coming years or so.

Homeoffice is on the rise … and so are Cyberattacks!

A recent study on flexible working has shown a new rise in the acceptance and permanent use of home office and remote working At the same time, the current report of German Bitkom e.V on threats to the economy shows an increase in cyber threats to companies, foremost from Russia and China in the wake of Russia’s attack on Ukraine. Especially noteworthy: Attacks now increasingly target communications and customer data. While rules on home office may allow for employees to be obliged to take care of their home office infrastructure’s security, the employer nevertheless remains responsible for overall compliance. This includes data protection and cyber security according to the GDPR and other rules. Thus, unless your company is operating in one of the (thankfully few) countries not taking offense at Russian aggression against Ukraine, it is highly advisable that you ascertain the efficiency of your its security. And make sure that remote working is tightly integrated, rather than an afterthought. Lest one finds their data privacy no longer private and the personal data of employees, clients and partners in the wrong hands. Study “Flexible Working” (German): https://lnkd.in/dU3mAjZPReport “Wirtschaftsschutz 2022” (German): https://lnkd.in/dbfZCe4Z

Additional work: clarifies the contractor’s duty to warn

Under the law, contractors are obliged to warn their client of additional costs arising from an addition or change desired by a client. If a contractor does not do so, he is not entitled to reimbursement of these costs, unless the contracting authority should have understood the need to increase the price of these costs on its own. Nevertheless, there is an exception to this rule, according to a recent ruling by the Supreme Court https://kennis.bierman.nl/blog/meerwerk-de-waarschuwingsplicht-van-de-aannemer-verduidelijkt

Value of company in the event of divorce: how do I determine it?

In the event of a divorce, a lot comes to you. Where do the children go? Who gets the house? Is spousal maintenance an issue? For an entrepreneur who is getting divorced, there is often a question: how do I determine the value of my company in the event of a divorce? In this article Marith Vos tells you more about this. https://kennis.bierman.nl/blog/waarde-bedrijf-bij-scheiding-hoe-bepaal-ik-die?utm_campaign=Scheiden%20met%20een%20eigen%20bedrijf&utm_content=222334747&utm_medium=social&utm_source=linkedin&hss_channel=lcp-112046

The CyTBOR

Did you know that on 13th of May 2022, the Cyprus Securities and Exchange Commission announced the launch of the online platform for the Cyprus beneficial ownership register of express trusts and other similar arrangements?

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