Excerpts from the Cyprus Finance Minister’s speech at the 11th Nicosia Economic Congress

A total of 13,289 residents of Cyprus returned from a trip abroad in March 2021, compared to 47,393 in the corresponding month last year, recording a decrease of 72%, according to data released Monday by the Statistical Service of Cyprus.

A single-shot vaccine against the novel coronavirus will be available alongside other vaccination options in the Republic of Cyprus, after the EU drug regulator okayed Johnson & Johnson’s Covid-19 Janssen vaccine.

The Government of the Republic of Cyprus has officially transposed the provisions of the EU Directive 2018/822(“known as DAC6”) and EU Directive 2020/876 into its national legal order, through the enactment of the Administrative Cooperation in the field of Taxation (Amending) Law of 2021 (L.41(I)/2021).

Bank of Cyprus on Monday announced that it has successfully launched and priced an issue of €300 million unsecured and subordinated Tier 2 Capital Notes under its Euro Medium-Term Note (EMTN) Programme – the maximum amount possible under the rules for this kind of issuance.

Limassol municipality announced on Monday it would cut rent by 50% to businesses affected by the pandemic measures from last January to March.

Constantinos Tsioutis, head of the advisory team and assistant professor of Internal Medicine and Infection Prevention and Control, said that all citizens must realize the seriousness of the situation, adding that due to current facts no further relaxations can take place since the health system is at its limit.

Tourist arrivals for the period of January – March 2021 amounted to 246,556 recording a steep drop of 92.8% compared with the respective period of last year, as the Covid-19 pandemic and travel restrictions continue to affect the tourist sector.

Cyprus tweaked its Covid-19 safe travel list, demoting two countries and upgrading another three, with the green category still hosting just six countries, with no EU entry.

EY is pleased to announce the appointment of Ronald Attard as the new Country Managing Partner for Cyprus.