Cyprus Legal System

Cyprus Legal System

INTRODUCTION

The favourable location of Cyprus at the crossroads of Europe, Asia, the Middle East and Africa together with the fact that Cyprus was a full member of the E.U. as from May 1st , 2004, its safe and protective legal system, the excellent infrastructure the high standard of legal, banking and accounting services provided, the continuing development of the island, the extensive use of English language, the excellent climate and the hospitality and friendliness of the locals, are some of the reasons that established Cyprus as an ideal centre for both business and pleasure and thus attracted to the island a considerable number of individuals and foreign investors interested in immovable property.

LEGAL SYSTEM

The legal system in Cyprus is generally based on common law and our legislation is, to a large extent is modelled on the English legislation. However, in the field of Immovable Property Cyprus legislation and the legal system is generally different than the one applied in the U.K.

First of all, the protection of ownership is safeguarded by the provisions of the Constitution, the ultimate Law of Cyprus, which establishes the equality of all persons and the respect for human rights, including the right to ownership, without discriminations.

According to Cyprus Law, Cypriots, as well as foreigners can enjoy all rights relating to ownership of their property without any interference either from the State or individuals.