The 4 phases agreed by the Council of Ministers for the gradual lifting of the restrictive measures imposed in order to reduce the spread of COVID-19, were announced by the Minister of Health at a press conference on Friday, 1 May 2020. The Minster stressed that the gradual easing of the lock down will occur on the basis of the guidelines and protocols.
On the 8 April 2020, the President of Cyprus announced that the measures announced previously to restrict the spread of coronavirus on the island were to be extended until April 30, in line with the decisions adopted by the the Council of Ministers. The financial measures announced previously to support employees and businesses during the current crisis will also be be extended until 12 June 2020.
On 30 January 2020 the World Health Organisation declared COVID-19 a global health emergency of international concern. Two months later, the pandemic presents a number of issues for Cyprus employers and threatens the survival of many businesses. This article addresses some of the immediate issues which Cyprus employers are facing.
Many employers are struggling to understand their obligations towards employees during this unprecedented time. Employers obligations include safeguarding the health and safety of employees at their workplace, protecting vulnerable/high risk employees, providing special leave to parents with children up to 15 years old who work in the private sector…
The Cyprus Government announced an initial package of measures to support the economy and employers/employees to cope with the effects of COVID-19. These measures include Special leave for parents working in the private sector and support for businesses facing a reduction in turnover through a Business Suspension Plan.
Novel coronavirus is a new strain of coronavirus (known as COVID-19) first identified in Wuhan City, Hubei Province of China, in December 2019. Since that time there have been an increasing number of cases confirmed throughout the word.The first confirmed case of COVID-19 was officially identified in Cyprus on the 10 March 2020. On the 12 March 2020 the WHO declared Covid-19 a pandemic.
Employment law issues arise in most corporate transactions, whether it is a share sale or purchase, business transfer or other similar transaction. In the context of merger and acquisition transactions, employment law issues may be critical to the transaction.
A Joint Venture is where two parties agree to pool their resources for the purpose of accomplishing a specific task. A joint venture can be created by (a) a contractual agreement between the parties (b) setting up separate legal entity (c) establishing a partnership and (d) establishing a European Economic Interest Grouping
There are no specific regulations in the Cypriot legal system regarding employee ownership or profit-sharing schemes. An employer can gift shares in their business to their employers or they can set up a share acquisition scheme to allow employees to acquire a stake in the business they work for or another company within the group.