Cyprus Law provides for the right to limitation periods regarding actionable rights during which if no action is taken to register a claim regarding payment of debts at the District Court then such a claim is barred.
Up until 2012 the Limitation of Actions Law Cap 15 was suspended as of 21.12.1963 with a series of laws being passed extending this suspension. As a result individuals as well as undertakings were not concerned with the issue of their claims being barred since they did not face such a threat.
On 1st July 2012, “The Limitations Law (66(1) 2012)” came into force in the Republic of Cyprus on 1st July 2012, MPs voted in 2013 and again in 2014 to extend its transition period – and this transition period has now expired since 31st December 2015.
Unless the Parliament votes for a further extension of the transition period of suspension for the year 2016 the following provisions will be enforced.
The time during which claim is barred starts running from the day the cause of action was concluded and in case of enactment of the law from 1.1.2016 no action can be brought before the court regarding claims for which the limitation period provided by the Law has expired.
Consequently those who are in danger of losing the possibility of claiming rights due to the enactment of the relevant law will have to register their claims before the end of the current year or take action always after communication with their lawyers and/or legal advisors.
Under the 2012 law different limitation periods are provided depending of the nature of the actionable right as shown in the table below:
|Breach of contract||six years|
|Damages for nuisance, negligence or breach of Statutory Duties||six years|
|Defamation or malicious falsehood||one year|
|Tort Actions||three years|
|Action for remuneration of self-employed persons such as lawyers, doctors, etc.||three years|
|Bills of exchange, bonds in customary forms, cheques, promissory notes||six years|
DISCLAIMER: This publication is intended only to provide a summary and/or information of the subject matter covered. It does not purport to be comprehensive or to render legal advice. No reader should act on the basis of any matter contained in this publication without prior obtaining professional legal advice.