In a recent decision of the District Court of Nicosia, it has been held that Cyprus Courts have jurisdiction to adjudicate on applications for enforcement of foreign judgments and foreign arbitral Awards, even if both the judgment creditor and judgment debtor reside outside Cyprus.
The above decision has cleared the uncertainties and problems created in enforcing such foreign judgments and arbitral awards, due to the issue of previous decisions by Cypriot District Courts, declaring that there was no such jurisdiction because of the provisions of the Procedural Law 121 (1)/2000, which regulates the procedure of enforcement of foreign judgments in Cyprus.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.