EU Talks on Cyprus Citizenship Scheme

EU legal services are to open negotiations with Cyprus over the country’s citizenship programme, according to a report in MaltaToday. The talks follow the conclusion of negotiations with Malta over its citizenship scheme, in particular with regard to residency....

Changes to the Cyprus VAT rates

Please be reminded that as from Monday, 13 January 2014, the standard VAT rate will be increased from 18% to 19% and reduced rate from 8% to 9%. Goods and services that fall within the zero VAT rate or are exempt from VAT or subject to the reduced VAT rate of 5%, will...

Cyprus shipping registry marks 50 years – 17 Dec. 2013

THE Cyprus shipping registry is marking 50 years since its establishment. “The excellent progress of the Cyprus registry has placed our country in the global maritime map”, Minister of Communications and Works Tasos Mitsopoulos said. Mitsopoulos gave a brief overview...

Rise in bank deposits from abroad – 5 Dec. 2013

Bank deposits from third-country nationals increase slightly, according to official Central Bank (CBC) data. Despite a fall in total bank deposits of 22.7% year-on-year across the island’s banking system, deposits from third country nationals have risen to €12.1...

Coops in Cyprus to operate as a unified banking group

The Cooperative Credit Institutions in Cyprus will operate as a unified banking group, President of the Central Cooperative Bank (CCB) Committee Nicolas Hadjiyiannis has said. Along with the island`s banking system, Cyprus Coops came at the brink of collapse last...

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