Cyprus and Arbitration
CEDRAC has its base of operations in Nicosia, Cyprus.
Cyprus was chosen as an ideal arbitration venue. It is already a well-established business offshore centre with excellent commercial infrastructure. It has a state of the art communications and first rate business venues, hotels and restaurants.
Cyprus also has an ideal geographical location sitting between three continents, with two international airports offering regular flights to London, Paris, Moscow, the Middle-East and Northern Africa.
Cyprus offers a commercially sophisticated legal system which has its roots in the Common Law.
Cypriot arbitration law is based on the UNCITRAL Model Law and Cyprus is a member of the 1958 New York Convention for the Recognition and Enforcement of Foreign Arbitral Awards, whilst Cypriot courts have repeatedly demonstrated their commitment to supporting arbitration proceedings and their respect of party choice and autonomy.
You can review a paper on Judicial Attitudes in Cyprus by clicking here and a paper on Enforcement of Arbitral Awards in Cyprus by clicking here.)
For more information contact Marcos Dracos, Secretary of CEDRAC, at marcos.dracos@cedrac.org or Zacharias Palexas, Co-President of CEDRAC at zpalexas@cedrac.org