The near collapse of the Cyprus economy back in 2013 was the instigator for the introduction of a new generation of amendments into the Cyprus companies’ legislation (Cap. 113) providing for a new array of tools which could be utilised with the intention of protecting businesses and buttressing the economy from the then expected adverse consequences a potential depletion of liquidity brought about by the 2013 banking crisis could have on them.
Those same tools stand now at the ready to be used by businesses to tackle the difficulties presented to them by the COVID-19 and the new ensuing global recession following in the pandemic’s wake.
Download the PDF to read more.
Related content
Article
The introduction of the consent regime into the Cayman Islands Proceeds of Crime Act (Revised)
Article
The BVI, Cayman Islands, and Bermuda – Current practice, enforcement, and emerging trends
Article
The importance of the Common Reporting Standards to Cayman Islands entities – What to do and when to do it