Cyprus is celebrating the earning of its third credit rating upgrade within a month. Standard & Poor’s (S&P) has upgraded Cyprus’s long-term credit rating to A-, reflecting stable prospects and balanced
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Credit rating agency Fitch has upgraded Cyprus’ credit rating from BBB+ to A-, marking the second upgrade in three weeks. Fitch attributed this positive change to Cyprus’ rapid reduction in
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In 2021, the House of Representatives passed a bill amending section 2(1) of the Advocates Law Cap. 2 which provides that drafting of contracts of sale, and rent of immovable
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On 22 November 2024, the international rating agency Moody’s upgraded the credit rating of Cyprus by a double notch. Cyprus’s senior unsecured and long-term issuer ratings were raised by Moody’s
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On 21 November 2024, the House of Parliament passed a law amendment significantly reducing the fines for corporate entities that fail to declare their ultimate beneficial owners (UBOs) on time.
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Cyprus’ trade deficit shrank by 17.4% in January–September 2024, falling to €5.6 billion from €6.8 billion in the same period of 2023, driven by declines in both imports and exports,
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On Monday, 11 November 2024, during the budget discussion of the judicial service before the House Finance Committee, the President of the Supreme Court Katerina Stamatiou informed the House of
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Following the decision of the Council of Ministers, the Tax Department announced today, 30 October 2024, that the deadline to submit personal income tax declarations for the year 2023 and
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Morningstar DBRS recently upgraded Cyprus’ long-term credit rating to positive, citing budget surpluses of 2.7% of GDP in 2022 and 3.1% in 2023, following pandemic deficits. In accordance with the
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Cyprus has outperformed its EU peers in managing public debt, achieving a significant reduction in its gross government debt-to-GDP ratio. By the end of the second quarter of 2024, Cyprus’
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