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Legal basis The Customs and Excise Duties Law of 2003 no. 224(I) of 2002, Section 17. The Customs and Excise Duties (Relief on Imported Goods) Regulations of 2004, P.I. 380/04, Regulation 13. The relief regime from import and excise duties for goods imported for use by offshore companies or their expatriate personnel has been terminated [...]

Recently there have been amendments in 3 statutes namely the (1) Town and Country Planning (N.90/72), (2) the Streets and Buildings Regulation (Chapter 96), and (3) the Immovable Property (Chapter 224) (Tenure, Registration and Valuation) Laws (hereinafter collectively called “the Planning Amnesty Amendments”). The Planning Amnesty Amendments came into force on 8.4.2011. Their aim is [...]

Limassol Marina is the largest elite investment project on the coast of Limassol, aimed to radically transform theCyprustourism industry. The total complex area covers 170 thousand square meters with 188 apartments and 86 villas to be built or currently under construction. Under this project artificial islands are being created & will host a part of [...]

The project for the implementation of the new Ayia Napa Marina is expected to start in approximately 1-2 years from today. Soon, the consortium which has won the contest for the construction of the project, will engage into discussions with the Government of Cyprus for the signing of the final agreements. Upon signing of these [...]

Banks Operating in Cyprus A. BANKS INCORPORATED IN CYPRUS 1. BANKS LISTED ON THE CYPRUS STOCK EXCHANGE Bank of Cyprus Public Company Ltd Marfin Popular Bank Public Co Ltd Hellenic Bank Public Company Limited USB Bank Plc 2. SUBSIDIARIES OF FOREIGN BANKS Αlpha Bank Cyprus Ltd BNP Paribas Cyprus Ltd Emporiki Bank – Cyprus Limited [...]

Cyprus is not just a beautiful Mediterranean island for holidays. It is also an attractive place to invest for those who are searching for a solid place to invest their money. Before analysing the reasons why to invest in Cyprus and where to invest, it is worthy to mention the fact that Cyprus has a [...]

Economic growth is usually associated with technological changes, changes which aim in minimizing costs and maximizing profits. Even if, the aforesaid proposition seems to be the norm, Cyprus enjoys both the privilege and the grace to attract investors and financiers who are able to appreciate the potential economic dynamics of the Cyprus economy. Cyprus has [...]

The Cyprus Government provides new incentives to third-country nationals for investing in Cyprus. These incentives gained popularity in the last three years as around 30 foreign nationals were granted permit/s or nationality, amongst them some of the richest people in the world. The main ways in which this can take place are as follows: a. [...]