On November 3, 2023, international rating agency Fitch announced that they upgraded the credit ratings of Hellenic Bank Public Company Limited and Bank of Cyprus Public Company Limited. Accordingly, Hellenic
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The Association of Cyprus Banks and the Association of Credit Acquisition Companies and Credit Facilities Managers (SEDP) have announced that they will extend the foreclosure freeze for primary residences with
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On October 17, 2023, the European Council resolved to add Antigua and Barbuda, Belize and Seychelles to the EU list of non-cooperative jurisdictions for tax purposes. In addition, at the
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On October 17, 2023, The Agreement for the Elimination of Double Taxation with Respect to Taxes on Income and on Capital and the Prevention of Tax Evasion and Avoidance, and
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On September 29, 2023, Cyprus Minister of Finance Mr Makis Keravnos announced the tax reform project of Cyprus, the “Integrated Tax Transformation Project”. In his speech, the Minister emphasized that
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As of 25 July 2023, Cyprus is fully integrated into Schengen Information System (SIS) which is used for border management and internal security in Europe. SIS supports the exchange of
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On 1st of September 2023, the Department of Registrar of Companies and Intellectual Property announced that; “All companies that have been incorporated or registered according to Companies Law Cap. 113,
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The Orthodox Church of Cyprus announced that starting from 1st May 2023, a mandatory conciliation application for the dissolution of religious marriages in Cyprus will only be accepted electronically through
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As of January 1 2024, the rate of contribution to the Social Insurance Fund will increase. Employers and employees will be required to contribute an additional 0.6% of their insurable
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On 14 June 2023, Paris MOU published a press release announcing the new performance lists for flag States and Recognized Organizations (ROs). These lists will take effect on 1 July
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