🇨🇾 Cyprus
How long do I have to collect a debt in Cyprus?
Quick answer: 6 years for standard commercial debts.
Answer
In Cyprus, you generally have 6 years to take legal action to collect a commercial debt. Six-year limitation for contract claims under the Limitation of Actionable Rights Law (66(I)/2012).
Limitation in Cyprus
Six-year limitation for contract claims under the Limitation of Actionable Rights Law (66(I)/2012).
Typical recovery timeline
Amicable recovery commonly settles in 14–30 days. Legal action, where required, typically runs 3–9 months.
Late payment interest
Law 123(I)/2012 transposing the EU late payment directive: ECB rate + 8% plus recovery costs.
What stops the clock?
In most jurisdictions, a written acknowledgement of the debt, a partial payment or the issuing of formal legal proceedings will interrupt or reset the limitation period. In Cyprus, these acts are usually sufficient — but the exact rules and form requirements vary, so professional review is recommended for any debt approaching its limitation date.
What should I do if my debt is close to expiring?
- Send a formal written demand to interrupt the limitation period.
- Confirm whether a partial payment or written acknowledgement is achievable.
- Engage a specialist to assess viability and recommend escalation.
Have a debt in Cyprus?
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Other jurisdictions
This information is provided for general guidance only and does not constitute legal advice. Limitation rules vary by debt type, jurisdiction and circumstances — always seek specialist advice before relying on this content.