First steps taken in Estia debt relief scheme

First steps taken in Estia debt relief scheme

The first steps have been taken to roll out the Estia debt relief scheme, although applications for the programme will not start until early September. According to the Cyprus News Agency (CNA), the finance ministry has asked banks to express an interest in participating in the scheme. The banks have been given 15 days to state whether or not they wish to enter into a memoran...
Local Monday, 12 August, 2019
Building Permits for Housing Units Record Big Annual Increase in the First Five Months

Building Permits for Housing Units Record Big Annual Increase in the First Five Months

Building permits for housing units recorded an annual increase over 45% in the first five months of 2019, the Cyprus News Agency reports. According to the Statistical Service, during the period January – May 2019, 2.820 building permits were issued compared with 2.596 in the corresponding period of the previous year. CyStat said that “the total value of these perm...
Local Saturday, 10 August, 2019
Building permits authorized for 907 new homes

Building permits authorized for 907 new homes

Building permits authorized in Cyprus during May 2019 provided for the construction of 907 new homes, compared with 541 in May 2018 according to official figures published by the Cyprus Statistical Service.  The total number of building permits authorized in Cyprus during May 2019 stood at 709 compared with the 612 authorized during May 2018; an increase of 15.8% accordin...
Local Friday, 09 August, 2019
Minthis, the First Golf Club in Cyprus to be Awarded with GEO Certification

Minthis, the First Golf Club in Cyprus to be Awarded with GEO Certification

Minthis has announced that is the first golf club in Cyprus awarded with the highly acclaimed GEO Certification, a distinction recognising our eco-friendly approach and commitment to sustainability. GEO (Golf Environment Organisation) is an independently assessed international eco-label for golf clubs. It is the most respected mark for golf sustainability and is awarded to gol...
Local Saturday, 03 August, 2019
Non-Performing Loans Decline To €10.14 Billion In March 2019

Non-Performing Loans Decline To €10.14 Billion In March 2019

Non-performing loans as defined by the European Banking Authority declined to €10.14 billion in March 2019, marking a reduction of €151 million compared to previous month, the Cyprus News Agency reports. According to data release on Thursday by the Central Bank of Cyprus, NPLs accounted to 30.6% of total loans which in March amounted to €33.11 billion. NPLs def...
Local Friday, 02 August, 2019
Leptos Group Launches Limassol Blu Marine

Leptos Group Launches Limassol Blu Marine

The official first presentation of the innovative and leading-edge waterfront project by the Leptos Group, Limassol Blu Marine, took place on July 18 in the presence of more than 350 guests, from the professional and business sectors. The Group’s President, Michael Leptos, in his brief speech, made a short reference to the Leptos Group’s business history and a...
Local Thursday, 01 August, 2019
Why we need an affordable housing scheme

Why we need an affordable housing scheme

Housing is considered ‘affordable’ when it costs no more than 30 per cent of gross household income HOUSING is so much more than simply having a roof over our heads. It gives us a personal sense of place and home and is the foundation of family and community well being. However, with the increased cost of private-sector housing compared with the level of household ...
Local Monday, 29 July, 2019
Chinese investors still wooed by Cyprus passports

Chinese investors still wooed by Cyprus passports

THE SOUTH CHINA MORNING POST REPORTS THAT CHINESE INVESTORS ARE SEEKING CYPRUS PASSPORTS DESPITE THE STRICTER CRITERIA INTRODUCED LAST MONTH FOR THOSE SEEKING CYPRIOT CITIZENSHIP. Chinese investors are thronging the sunny shores of Cyprus in search of property and passports that will allow them to work, travel and live in the European Union. “Cyprus is a beautiful place ...
Local Saturday, 20 July, 2019
Interior minister calls for a comprehensive migration solution

Interior minister calls for a comprehensive migration solution

INTERIOR Minister Constantinos Petrides called Thursday for the need for a comprehensive solution for effective management of migration flows to the EU, pointing out the disproportionate migratory pressures on Cyprus. Speaking during the informal Justice and Home Affairs Council meeting in Helsinki, Petrides also rejected a Franco-German proposal to create a central Mediterran...
Local Friday, 19 July, 2019
Where Law and Real Estate Meet

Where Law and Real Estate Meet

Cyprus has become over the years an attractive destination not only for holidays due to the climate but also for investors, as Cyprus is especially tempting among others, for its location, the high standard of living, the friendly people and the successful scheme of citizenship. EU nationals can purchase real estate in Cyprus without any restrictions, while non-EU nationals are...
Local Thursday, 18 July, 2019
The EC Launches the Awareness Campaign ‘YOU’RE RIGHT’ (#YourEURight) on Consumer Rights

The EC Launches the Awareness Campaign ‘YOU’RE RIGHT’ (#YourEURight) on Consumer Rights

DG Just (The Commission's Directorate-General for Justice and Consumers is responsible for EU policy on justice, consumer rights and gender equality) implements the ‘YOU’RE RIGHT’ (#YourEURight) awareness campaign on consumer rights, to empower consumers so that they can make informed purchasing choices. As technology advances, consumers need even more clear,...
Local Wednesday, 17 July, 2019
Choosing the right home insurance among a growing number of players

Choosing the right home insurance among a growing number of players

Given the rising demand for home insurance, which was up by 6.9 per cent in the first quarter of 2019, people should be aware of certain factors in order to choose the right policy. The Cyprus insurance sector has in recent years been marked by impressive growth rates, which now surpass pre-crisis levels. Contained within the rising figures are increasing numbers of people who...
Local Tuesday, 16 July, 2019
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