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Banking and Finance Law

Banking and Finance Law

Northern Cyprus has made great strides in banking and finance over the recent years, thanks to the interest of domestic, as well as foreign investors in the island and the economic growth, particularly in the construction sector. Gürkan & Gürkan Advocates and Legal Advisers has in the past provided, and presently provides, legal consulting services to numerous prestigious banks; we provide legal support on all matters to both institutional as well as individual clients. With its speedy follow up and the use of efficient implementation, our Firm places importance on the effective collection resulting from court cases filed against banking clients, who have defaulted on their credit. To serve our bank and finance firm clients more efficiently in the matters of cases filed and the collectibles, our Firm builds a dedicated team of attorneys for each client and designates a specific point of contact for banks, to facilitate easier access and flow of information.

With its team of attorneys specializing in Banking and Finance Law, our Firm also provides exceptional service to domestic and international companies during their investing and banking operations in Northern Cyprus. Some of the major services we provide in the field include:

  • Legal consulting on the founding of a bank in Northern Cyprus
  • Legal consulting on the founding of a financial institution in Northern Cyprus
  • Legal consulting to banks and financial institutions that desire to open a branch in Northern Cyprus
  • Legal consulting and provision of professional opinion on the banking and the financial sectors in Northern Cyprus, the applicable law and regulations, as well as the rules and regulations adopted by the Central Bank
  • Project finance and the purchase of large real estate in Cyprus
  • Legal consulting on real estate investments in Cyprus
  • Financial restructuring
  • Provision of legal opinion on the legal compliance of credit agreements and other financial instruments; ensuring such compliance
  • Cases involving collectibles of banks or finance companies and follow up thereof
  • Cases involving bonds, bad checks and policies, as well as follow up thereof
  • Mortgage operations at the land office and auctioning off the mortgaged items
  • Levy and garnishment
  • What can I ask through the case when the check bounces? You can claim the unpaid amount of the check and the interest of this amount to be processed from the date of submission. Even if the check bounces, the bank is obliged to pay the amount of 500-TL.
  • Who can I file against for bad checks? The holder of the check can file a lawsuit against the arrangers and endorsers within 5 years from the date the check bounces.
  • What do I do if a check bounces? In order to be able to sue, the check holder must submit the check within the specified time period (6 months), and the non-payment must be determined by one of the following...
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The Legal Status of the Cryptocurrencies and the Regulatory Framework in the Republic of Cyprus and the TRNC
The Legal Status of the Cryptocurrencies and the Regulatory Framework in the Republic of Cyprus and the TRNC

Cryptocurrency is a form of virtual currency that is decentralized i.e neither backed by central bank nor funded by any government. Cryptocurrencies operate via peer-to-peer exchanges, depending on no financial institution for the transactions. You can find more details on the mechanism of cryptocurrencies in our ‘What is a Cryptocurrency and How It Differs from the Conventional Concept of ‘Money’’ article available on our website.

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