🇨🇾 Southern Europe
Debt Recovery in Cyprus
As a Cyprus-licensed recovery specialist, DECOL operates at the highest professional standard in our home jurisdiction with full bilingual capability.
Limitation period
6 years
Typical amicable recovery
14–30 days
Legal procedure
3–9 months
Languages
Greek · English
Statute of limitations
Six-year limitation for contract claims under the Limitation of Actionable Rights Law (66(I)/2012).
Late payment & interest
Law 123(I)/2012 transposing the EU late payment directive: ECB rate + 8% plus recovery costs.
Enforcement
District Court money judgments with options including memo on immovable property, garnishee orders and writs of movables.
Local practice notes
- Bilingual Greek/English correspondence standard
- Land Registry searches for asset verification
- Specific performance available in addition to monetary judgments
Active sectors
Financial servicesShippingReal estateTourism