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Commission Takes Further Steps to End Illegal Tax Breaks in the Italian and Cypriot Yacht Industries

The Commission is today taking further steps to end illegal tax breaks in the yacht industries of Italy and Cyprus, first brought to light in the Paradise Papers leaks. Today's legal proceedings also form part of the Commission's ongoing efforts to stamp out unfair tax avoidance practices in the EU. As part of today's infringement package, the Commission has decided ...

International Saturday, 27 July, 2019

Cyprus’ Borrowing Cost Continues Downward Trend

The borrowing cost of the Republic of Cyprus is continuing its downward trend, as the ten-year bond yield has fallen to historically low levels in recent months, the Cyprus News Agency reports.   The 10-year Cypriot bond with a 2.38% coupon issued in September 2018 hit a new historic low of 0.824%, from 0.92%, 10 days ago. The yield of the 10-year bond fell by 51.2 basis ...

International Tuesday, 18 June, 2019

Cheaper Calls to Other EU Countries as of 15 May

As of 15 May, a new maximum price will apply for all international calls and SMS within the EU. As a result, consumers calling from their country to another EU country will pay a maximum amount of 19 cents per minute (+VAT) and 6 cents per SMS message (+VAT). Following the end of roaming charges in June 2017, these new price caps for international calls and SMS in the EU are ...

International Wednesday, 15 May, 2019

Bloomberg: Cyprus the 21st Healthiest Country in the World

Cyprus ranks as the 21st healthiest country in the world according to the 2019 edition of the Bloomberg Healthiest Country Index, which ranks 169 economies according to factors that contribute to overall health. With 83.58/100 points, Cyprus dropped three places from last year’s Index, when it had 88.19 points. Spain ranks as the healthiest country in the ...

International Tuesday, 26 February, 2019

NASA names two rocks on planet Mars in Cypriot dialect

Two rocks on planet Mars were given by NASA names in the Cypriot dialect, thus honoring the work of a Cypriot scientist who works on the NASA InSight mission. Dr Constantinos Charalambous is a Cypriot planetary scientist born in Limassol and a research member of the Cyprus Space Exploration Organisation (CSEO). Since InSight’s landing on Mars on 26th November 2018, he h...

International Monday, 04 February, 2019

P&O Ferries to register entire English Channel fleet under Cyprus flag

P&O Ferries, the British shipping firm, has decided to register its entire English Channel operating fleet in Cyprus, a company spokesman told the Cyprus News Agency on Friday. The decision follows the initial re-flagging of two of its ships that operate between Dover and Calais, the ‘Pride of Britain’ and the ‘Pride of France’. The other ships on ...

International Friday, 18 January, 2019

Cyprus is officially one of the safest countries in the world

According to a recent ValuePenguin research, Cyprus is one of the safest counties in the world. Out of 106 countries that generate enough data to run a study about the safest countries in the world, Cyprus proudly holds the 5th place worldwide! More amazing is the fact that Cyprus is the No 1 safest place to live and visit among countries that have population u...

International Wednesday, 17 October, 2018

Brexit losses and benefits

After the issue of Brexit first raised its head we have been closely following the reactions of businesses and individuals regarding over whether Cyprus will win or lose from such an event in terms of the real estate market. It is unfortunate that the UK will leave the EU and we feel we are losing a lifelong friend. Many of us who have studied or worked in the UK wish the Brex...

International Wednesday, 29 August, 2018

Why India's Richest Are Seeking Citizenship In Cyprus

India's wealthy have long coveted foreign passports. Some see it as a ticket to easier tax regimes and more business friendly climates. For others, it’s the desire for a more western lifestyle or the ability to study, work or travel abroad with ease. For rich Indians looking for citizenship or permanent residency in a European nation, the scenic island country of Cyprus i...

International Tuesday, 19 June, 2018

Tax shock for British residents in Cyprus

The revised UK and Cyprus Double Taxation Convention, which was signed on 22 March, could result in higher taxes for some retired British residents in Cyprus whose pensions are paid by the UK Government.  Earlier this month Cyprus and the United Kingdom signed a revised double taxation convention, based on the OECD Model Convention for the avoidance of double taxation on ...

International Tuesday, 08 May, 2018

Greece, Cyprus Top ‘Sunshine Saturday’ Choices for the Brits

Greece and Cyprus are at the top of British travelers’ bucket lists according to travel agents working full speed ahead for ‘Sunshine Saturday’, the first Saturday of January and the busiest day for holiday bookings in the UK. Sunshine Saturday is considered the busiest day of the year for travel operators as thousands of pe...

International Monday, 15 January, 2018

EIB to Grant Loans to Cyprus Cooperative Bank and Hellenic Bank

The European Investment Bank (EIB) will sign new loan agreements with the Cyprus Cooperative Bank and Hellenic Bank amounting to €25 million and €40 million respectively. The loan agreements, under state guarantees, aimed at financing small and medium-sized enterprises (SMEs) and mid-cap companies in Cyprus at attractive interest rates. According to a press release i...

International Wednesday, 10 January, 2018