In order to maintain economic relations between persons and companies from different countries and to secure their business interests, it is important to ensure the recognition and enforcement of foreign judgments on the territory of foreign countries. In this article we will look at the procedure of enforcement of foreign court judgments in Cyprus.
The judgments of foreign courts are executed in Cyprus according to the legislation of the European Union, bilateral agreements and various conventions.
The Cyprus law will contribute to enforcement of foreign judgments if they meet the following requirements:
- The judgment does not violate Cypriot conflict of laws rules.
- Enforcement of such a decision is not contrary to Cypriot public policy.
- The judgment was made on the merits, and not according to the procedure.
- The foreign judgment was not obtained through fraud.
- The decision taken and its hearings did not contradict natural justice.
Foreign courts should be understood as courts of EU countries and other countries.
The enforcement of a court decision of a non-EU country will be regulated by Law N121 (1) / 2000. This law also applies if Cyprus has entered into an agreement on mutual recognition and enforcement of judgments and arbitral awards.
Cyprus has concluded the above-mentioned international treaties with the following countries:
- States of former Soviet Union (Russian Federation, Ukraine, Belarus, Georgia);
- States of former Yugoslavia (Serbia, Slovenia);
- Czech Republic;
We draw your attention to the fact that this article is for informational purposes only. For more advice, contact us at the contacts listed on the site.