The Limitation of Actions Law Chapter 15 (the “Law”), used to set a maximum period of time that one had in order to take legal action for a particular breach of law. However, in the Republic of Cyprus due to the existing political situation since the invasion of Turkey in 1974 the Law was suspended through a number of suspension laws which were amended and renewed over the years allowing for a legal claim to arise without been affected by the limitation period.

On 1st of July 2012 the Law was abolished as a new legislation known as the Limitation of Actionable Rights Law of 2012, L.66(I)/2012 (the “Amendments”) came into effect. The limitation period however kept being postponed by the members of the Cyprus parliament who were voting in favour of such extension resulting in the actual limitation never really been effected. However, as the deadline of the last extension was approaching on the 31st of December 2015, it was decided that a further extension would not be granted but rather as of the 1st of January 2016, the limitation period would actually start running. As a result the limitation period for proceedings, the right of which existed at 01.01.2016, begins to run from that date and not from the date that the cause of action was completed. However, for new claims, the base of which is completed after 01.01.2016 the limitation period starts to run from the date in which the base of claim was completed.

For further information you can contact Maria Kannava ( or Tereza Pendondgis (


Cyprus’ new rules for intra-group back-to-back financing arrangements

July 26th, 2017|Comments Off on Cyprus’ new rules for intra-group back-to-back financing arrangements

Cyprus’ Tax Department has issued on the 30th of June 2017 an expository Circular in relation to the update Tax Treatment of intra-group back-to-back financing arrangements, with effect as from the 1st of July 2017. The Circular applies to all existing and future transactions. Tax rulings issued before the 1st of July 2017 will no longer be valid for tax periods as from the 1st of July 2017. The Circular is applicable to Companies that carry out group financing transactions and are Cypriot tax resident companies or are non-Cypriot tax resident companies and have a permanent establishment in Cyprus and the financing activities are attributable to the permanent establishment. ‘Intra-group financing transaction’ refers to any activity of granting of loans or cash advances remunerated by interest (or which should be remunerated by interest) to related companies, financed by financial means and instruments (debentures, private loans, cash advances, bank loans). Two [...]

General Principles of Family Law in Cyprus

August 31st, 2016|Comments Off on General Principles of Family Law in Cyprus

Introduction In Cyprus, the majority of the cases that are related to family matters, such as divorce, property relations, custody of a child and maintenance are resolved by Family Courts. Under certain circumstances the family matters are resolved by the President of the District Court or the Family Courts of the Religious Groups. Jurisdiction Family Courts in Cyprus have jurisdiction to resolve the following matters: The dissolution of any religious marriage, in Cyprus or abroad, that was conducted under the rules of the Greek Orthodox Church; The dissolution of any religious marriage, in Cyprus or abroad, of any other faith (except from those marriages that are resolved by the Family Courts of the Religious Groups); The dissolution of any civil marriage, in Cyprus or abroad; Family matters in judicial proceedings initiated by the treaties to which Cyprus is a signatory country; Any family or matrimonial dispute between spouses and [...]


June 16th, 2016|Comments Off on KPK LEGAL FOUNDATION

We are proud to announce the establishment of the “KPK LEGAL FOUNDATION”, a charitable foundation set up by our firm to formalise our covert philanthropic work over the past 3 years of purchasing and distributing food, clothing and other necessities to those in need. Contribution to society is one of the core values of our firm and its members and the establishment of our foundation constitutes a promise to continue our charitable work and to intensify our efforts to provide relief and support to deprived and disadvantaged members of society in any way that we can. More on the activities of our foundation, events and ways to get involved will be published through our website. LATEST UPDATES