I.K.Kouppas & Co LLC

AI Innovation vs Safety: A Shifting Global Priority 🌍 With trillions in investment, AI is set to revolutionize industries, yet many wonder if the focus is shifting away from safety. At the AI Action Summit in France, world leaders discussed the boundless opportunities AI presents across business sectors. Significant pledges like the EU's €200 billion show a strong commitment to growth, though alignment with regulatory safety remains a pressing concern. While AI promises enhanced productivity, reshaping economies, and creating jobs, regulatory harmony is crucial to fostering innovation without negating safety. Navigating these complexities demands precise legal insight, especially as businesses anticipate new AI implementations in their sectors. IKK Law offers bespoke legal solutions to guide your AI journey through advancing the benefits and managing potential risks efficiently. 💼 Join the conversation and reach out to our team for insights into how we can support your AI-driven business strategies. Contact us today at info@ikklaw.com.cy or through a direct message. #AIInnovation #LegalExpertise #EconomicGrowth #EnterpriseOpportunity #IKKLaw

Looking to navigate the new Telework Law and Employee Rights? The new legal framework redefines remote work, ensuring balance and legal clarity 🚀. Effective from December 1, 2023, the Regulation of the Framework for the Organization of Teleworking Law introduces: - Remote Working policies regulating voluntary teleworking agreements between employers and employees. - A 'Right to Disconnect', safeguarding employees’ time outside work hours. - Employer obligations on cost coverage and maintaining health and safety. This forward-thinking law aims to enhance employee well-being while empowering businesses to create a modern, flexible workforce that thrives. At IKK Law, we provide clarity and personalized legal guidance in navigating such nuanced frameworks. Understanding these regulations not only ensures compliance but also unlocks opportunities for businesses sensitive to evolving work trends. Join the conversation or contact us at info@ikklaw.com.cy or via DM to discuss how we can support your journey toward business goals with bespoke legal solutions. #TeleworkingLaw #IKKLaw #LegalCompliance #RemoteWork #InnovationInLaw

Defining Data Processing for Ads: Consent Takes Centre Stage! 🌐 Are social media giants fit to operate without our explicit approval anymore? In a game-changing decision, the CJEU has reshaped the landscape for online platforms, reflecting a seismic shift toward prioritised data privacy and meticulous compliance. In a recent groundbreaking judgment, it held that organisations cannot rely solely on "contractual necessity" or "legitimate interest" for processing data aimed at personalised advertising. Consent now triumphs as the key to unlocking personal data, pushing businesses to revamp their data collection strategies. Key takeaways from this development: - Data processing must gravitate towards transparent user consent 🙋 - "Legitimate interest" or contracts for targeted ads are fading ⚖️ - Enhanced user rights and straightforward data choices to gain momentum 📈 At IKK Law, we empower your business to harness these legal intricacies for compliance while achieving your vision. For deeper insights and bespoke legal solutions, contact us at info@ikklaw.com.cy or send a DM to delve into how you can navigate these monumental changes. #DataPrivacy #AdTech #LegalCompliances #DataProtection #IKKLaw

The interplay of MiCAR and PSD2 has complex implications! Understanding the regulatory landscape is crucial for crypto-asset service providers. As MiCAR outlines its scope for crypto-assets, particularly on the regulation of tokenized deposits and EMTs, questions rise regarding where MiCAR's boundaries lie within existing frameworks. Key insights: - Tokenized deposits hold a promise for potentially being excluded from MiCAR regulation, providing a unique avenue for businesses. - Owners of EMTs might need dual authorization under MiCAR and PSD2, demonstrating a regulatory overlap. - Industry stakeholders are focused on clarity to avoid any unnecessary regulatory burdens. At IKK Law, we understand the intricacies of such frameworks and how they define your business operations. We offer guidance to navigate these complex interactions, ensuring compliance and operational efficiency. Explore how to adeptly manage your crypto-asset operations by reaching out. Contact us at info@ikklaw.com.cy or send a DM for deeper discussions and insights. #MiCAR #PSD2 #CryptoRegulation #LegalGuidance #IKKLaw

Pioneering entrepreneurship in Cyprus just became more accessible! 🚀 The Cyprus Startup Visa Scheme is rewriting the playbook, offering unprecedented benefits to non-EU entrepreneurs ready to innovate. Start-ups now have a gateway to not just one of Europe's safest havens but also an appealing business-friendly environment. The visa unlocks a wealth of opportunities: - Rights to residence and primo work conditions in Cyprus - Unlimited access to the dynamic EU market - Significant tax incentives, including a meagre corporate tax rate Embracing Cyprus as your start-up's global hub could redefine your business trajectory. With knowledge, language proficiency, and a streamlined business plan, a whole new chapter may unfold for innovators worldwide. At IKK Law, we stand poised to support every step of this transformative journey. With comprehensive legal expertise, we safeguard your aspirations and ensure a seamless venture setup. Curious about the application processes or visa renewals and your start-up’s compliance with local requisites? Get in touch! Reach out to us at info@ikklaw.com.cy or send a DM to navigate the complexities efficiently. #StartupVisa #CyprusInnovation #Entrepreneurship #IKKLaw #BusinessOpportunities

Cyprus boosts transparency with new tax disclosure rules! ⚖️ Are you prepared for these compliance shifts? Recent amendments to Cyprus’s Companies Law align with EU Directive 2021/2101/EC, legislating public income tax disclosures by some entities operating under Cyprus law. These changes usher in heightened transparency. Any firms with revenue exceeding €750 million over the past two years, or large subsidiaries of non-EU parent companies, are now mandated to publish detailed income tax reports. This transparency will cover revenues, taxes paid, employees, and much more, reinforcing public trust and fostering accountability. New compliance regulations also mean administrating boards carry a larger duty to assure accurate and timely submissions of these reports immediately after the fiscal year's end. With deadlines looming on June 22, 2024, companies must act swiftly to modify their reporting processes and mechanisms. This creates an urgent need to navigate these new complexities with both compliance and strategic insight. Let IKK Law be your trusted guide through these intricate legal waters. Contact us at info@ikklaw.com.cy or send a DM for further discussions on how we ensure transparency and compliance in your business dealings. #Transparecy #TaxCompliance #CyprusLaw #CorporateResponsibility #LegalExpertise

Is EU-backed startup funding the key to success in Europe? 🤔 With €70bn absorbed into European startups, it's clear there's something major going on. Within the last decade, EU grants have powered one in ten of these startups, underpinning their VC investment and aiding industries like spacetech and biotech in thriving and scaling. What's fascinating is how these EU-backed innovators enjoy better odds in further funding rounds, outperforming their peers by 1-3% in terms of graduation rates from Series A to D. Yet, challenges persist, especially when we consider startup visibility across borders – smaller nations face notably tougher battles. How about your enterprise? Is it poised to flourish in this competitive landscape? Let’s talk about how tailored legal solutions fit into the tech ecosystem. With IKK Law’s bespoke legal expertise, overcome market complexities, land standing solutions, and help safeguard your pathway. For deeper dives, reach out via info@ikklaw.com.cy or drop a DM to explore our personalized support. #Europe #Startups #VentureCapital #TechFunding #IKKLaw

Read our full article at Famagusta Gazette. EU MiCAR Compliance: Key Considerations for Crypto-Asset Service Providers With the implementation of MiCAR in the EU upon us, it is crucial for market participants and authorities to understand its implications and interactions with existing legal frameworks. MiCAR, primarily established for crypto-assets, intersects with other EU regulations, which requires clear delineation to ensure compliance. Link in the description below. 👇 #CryptoAssets #Mica #EURegulation

Is protecting software innovation becoming more challenging? Sony v Datel has sparked new conversations about software copyright limitations within the EU. The CJEU's recent decision emphasised that it's the literal expression of a computer program—its source and object code—benefiting from copyright protection, not the mere functionalities or ideas behind it. This landmark ruling could significantly influence how intellectual property rights are applied to software development. It narrows the scope for software creators like gaming companies to protect their innovations against unauthorised use. This decision underlines the need for strategic legal planning in the tech industry, where protecting intellectual assets remains crucial. Are your software strategies aligning with these evolving legal standards? Feel free to reach out to us at info@ikklaw.com.cy or send a DM for expert guidance on navigating this complex terrain and leveraging intellectual property effectively. #IntellectualProperty #SoftwareInnovation #EUlaw #LegalGuidance #IKKLaw

🌐 Preparing for DORA Compliance is Crucial 🕒 As the deadline for the Digital Operational Resiliency Act (DORA) is upon us, many EU financial entities are facing a race against time. With its strong focus on operational resilience and risk management, DORA directly affects regulated financial firms and indirectly impacts ICT service providers. Successfully navigating these requirements will play a pivotal role in securing digital innovation while maintaining organisational integrity. Key areas for compliance: - Thorough ICT contract reviews. - Implementation of robust digital resilience testing. - Comprehensive ICT risk management governance. - Adjustments for ICT service providers in support of financial entities. Each area presents its own set of challenges, requiring strategic planning, organizational change, and informed legal guidance. To meet these expectations, many organizations may require expert assistance. Do not let these compliance hurdles hinder you. Navigate the complexities of DORA with our bespoke legal solutions and achieve your business goals seamlessly. 📩 Contact us at info@ikklaw.com.cy or send a DM to discover how our expert guidance can assist you today. #DORACompliance #Resilience #FinancialServices #RiskManagement #IKKLaw