News - Pyrgou Vakis

November 30, 2023

Published by Pyrgou Vakis Team on November 30, 2023

ESG is now more than ever!

Environmental, Social and Governance (ESG) has lately become a fundamental part of doing business. Watching over to long-term gains ESG is more an opportunity than a risk from the periphery of a company's strategic policies to the core of the most crucial strategic choices.

November 23, 2023

Published by Pyrgou Vakis Team on November 23, 2023

Anti-Money Laundering (AML) Monitoring with PVLF

Anti-Money Laundering (AML) Compliance is a crucial aspect in the service and trade industry, aimed at detecting and preventing money laundering and terrorist financing activities. In recent years, the European Union, which is committed to adopting global solutions to respond to these threats at the international level, has enacted stringent legislation to combat money laundering and terrorist financing.

November 22, 2023

Published by Pyrgou Vakis Team on November 22, 2023

Benefits of registering a Trademark

Registering your Trademark can offer your business a multitude of benefits. The legal framework that governs trademarks in Cyprus allows for businesses to register their marks nationally, in the European Union as well as internationally, thus offering domestic and international protection.

November 16, 2023

Published by Pyrgou Vakis Team on November 16, 2023

A Director may individually bind the Company in a nutshell

We are regularly being requested to provide some kind of evidence to the clients regarding the capacity of a director to individually bind the company. In Cyprus, there is no official Governmental Certificate that points out the powers of the directors.

May 5, 2021

Published by Pyrgou Vakis Team on May 5, 2021

Pyrgou Vakis LLC Ranks Once Again in Legal 500

We are delighted to announce that Pyrgou Vakis LLC has ranked for fourth consecutive year as a top tier firm in the Legal 500, one of the most reputable legal directories in the world. The firm has received several practice rankings and its partners and lawyers received excellent feedback as evidenced by the dithyrambic testimonials of our happy clients.

April 22, 2021

Published by Pyrgou Vakis Team on April 22, 2021

Έλεγχος στη μορφή και το περιεχόμενο των διαφημίσεων των Χρηματοπιστωτικών Ιδρυμάτων

Η Υπηρεσία Προστασίας Καταναλωτή, αφού εξέτασε τη νομιμότητα διαφημίσεων που χρησιμοποιήθηκαν από συγκεκριμένο χρηματοπιστωτικό ίδρυμα, για σκοπούς προώθησης των πιστώσεων που παρείχε στους καταναλωτές, κατέληξε ότι υπήρξε παράβαση της σχετικής νομοθεσίας από το πιστωτικό ίδρυμα και προχώρησε στην έκδοση της πρώτης διοικητικής απόφασης επιβάλλοντας διοικητικό πρόστιμο ύψους €20.000.

April 21, 2021

Published by Pyrgou Vakis Team on April 21, 2021

New investment criteria for acquiring permanent residency in Cyprus

The Cyprus government in an attempt to attract further foreign investment to the island,announced revised investment criteria for Non-EU nationals wishing to acquire permanent residency in Cyprus. To this respect, the third revision of the rules under which investors may obtain permanent residency in Cyprus came into effect on 24 March 2021. New investment options are now available granting applicants the flexibility in selecting the appropriate investment opportunity that matches their immigration purposes.

February 14, 2021

Published by Pyrgou Vakis Team on February 14, 2021

Implementation of the 5th AML Directive into Cyprus Law

On 18 of February 2021, the Republic of Cyprus implemented the 5th AML Directive into national law (the “New Law”), a much-anticipated amendment to the Prevention and Suppression of Money Laundering and Terrorist Financing Law (the “AML Law”) and the aim of the New Law is to make the necessary adaptations to ensure the adequate implementation of the 5th AML Directive and that Cyprus is in compliance with FATF standards.

November 8, 2020

Published by Pyrgou Vakis Team on November 8, 2020

New Criteria for Employing Third Country Nationals by eligible companies of foreign interests

With the FastTrack Business Activation Mechanism ( a mechanism aiming to provide fast and efficient services to foreign businesses wishing to establish presence in Cyprus) in force since 3rd day of September 2020 the Council of Ministers with its decision on 7th day of October 2020 has set new criteria in relation to the employment of third country nationals by foreign interest companies.