Success in today’s business world isn’t just about strategy and ambition—it’s about compliance. As regulations evolve at an unprecedented pace, businesses engaged in cross-border transactions, international banking, and market expansion face growing compliance risks.

Cyprus remains committed to international tax transparency through its ongoing implementation of the Common Reporting Standard (CRS), an OECD initiative designed to facilitate the automatic exchange of financial account information between jurisdictions. As a CRS participant since 2017, Cyprus requires financial institutions to report relevant account holder information to the Cyprus Tax Department (TD) annually.

Former Cyprus Shipping Chamber (CSC) director general Thomas Kazakos has resigned as director of Lordos Hotels (Holdings) Public Limited, effective February 28, 2025.

Tourism revenue in Cyprus saw a significant year-on-year increase of 17 per cent in December 2024, according to a report released on Tuesday by the state statistical service.

Our team at ServPRO kickstarts the 2025 newsletter year with 25 highlights for you and your business in Cyprus, the European Union (EU) and the wider world:

Cyprus’ tax-free income threshold is set to rise to €20,500 per year, following the announcement of a set of sweeping tax reform plans by President Nikos Christodoulides on Tuesday.

The prospect of developing joint travel packages for markets such as China and the USA was a key topic of discussion when Deputy Tourism Minister Kostas Koumis met with Greece’s Minister of Tourism Olga Kefalogianni in Athens.

The Cyprus property market displayed stabilising trends in the fourth quarter of 2024, according to the RICS Cyprus Property Price Index by KPMG Cyprus, which tracks real estate price trends across all districts.

Our Partner- Corporate Finance, Tax, Private Client, Stella Strati is attending the International Bar Association Private Client Tax Conference.

The Bank of Cyprus announced on Monday the launch of a €30 million share buyback programme, a move previously signalled last week during the release of its preliminary 2024 financial results.