Month: April 2020

COVID19 Update (10/04/2020): Law on the enforcement of emergency measures by Financial Organisations and Supervisory Authorities due to COVID-19

On 30th March 2020 the Cyprus Parliament issued Law 33(I)/2020 on the enforcement of emergency measures by financial organisations and supervisory authorities due to COVID-19 (the “Law”), the primary purpose of which is the protection and sustainability of the Cyprus financial system, which is called to overcome the obstacles caused due to the pandemic of COVID-19. … Continue reading “COVID19 Update (10/04/2020): Law on the enforcement of emergency measures by Financial Organisations and Supervisory Authorities due to COVID-19”

COVID19 Update (10/04/2020): Support measures for affected businesses and employees

The rapid spread of coronavirus and the increase in confirmed cases in Cyprus has led the Republic of Cyprus to take additional and more strict preventive measures which have inevitably affected business and employees. Therefore, the Cyprus Government has adopted the below measures to support the businesses and employees affected: A) Full Suspension of Work Scheme: … Continue reading “COVID19 Update (10/04/2020): Support measures for affected businesses and employees”

Changes based on the new guidelines announced by the Minister of Employment, Welfare and Social Insurance

Following our earlier email which included answers to the questions submitted during our last webcast, further announcements have been made by the Minister of Employment, Welfare and Social Insurance. Among many, the main changes can be summarized as follows: Partial Suspension of Business and Self-employed: in order for a company or self-employed person to calculate … Continue reading “Changes based on the new guidelines announced by the Minister of Employment, Welfare and Social Insurance”

COVID-19 Webcast Series – Webcast 2 (02/04/20): Cypriot Measures Implementation Initiation – What does the continuing pandemic mean for your business affairs?

Q&A on major topics raised * The COVID-19 situation is very dynamic. Please note that the below answers were valid as at the date of the response (2 April 2020).  Employment / Contractual Q: 60% of 2018 insurable units or 2019?  A: 2018. Q: In the partial suspension basic premises you stated that ”60% of the 2018 insurable … Continue reading “COVID-19 Webcast Series – Webcast 2 (02/04/20): Cypriot Measures Implementation Initiation – What does the continuing pandemic mean for your business affairs?”