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Cyprus: A possible amendment in the Law of Social Insurance Debtors

 

In Cyprus over the last years around 300 people received an imprisonment sentence for debts in relation to social insurance debts, ranging between €300 and €30,000.

This problem has prompted the Parliament to consider amending the law and introducing the following:

 

(i)                 Permitting individuals to pay in installments for their debts;

(ii)               Permitting the Court to impose an order for the freezing of the individual’s immovable property;

(iii)             Compelling  the Court to examine the individual’s ability to pay before imposing any sentence;

(iv)              Possible community sentence to be imposed as an alternative to a prison sentence.

 

Should the above changes come into force then this would have a rather positive impact on Social Insurance Debtors who would have a wide range of possible sentences in contrast to the existing sentence of imprisonment.

 

 

For further information on this topic please contact

Ms. Nada Starovlah (nstarovlah@pittaslegal.com) at SOTERIS PITTAS & CO LLC,

by telephone (+357 25 028460) or by fax (+357 25 028461)

 

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