Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) told Cyprus commercial banks to prepare to face a new cycle of non-performing loans in 2021 due to the coronavirus pandemic.

The Cypriot transport ministry has issued tougher rules for some foreigners seeking to obtain a driver’s permit, essentially linking visa status to eligibility while barring refugees with pending applications as well as introducing stricter criteria.

Cyprus’ Ministry of Labour’s expenditure exceeded €1 billion in the first seven months of 2020 on continued programmes aiming to support employment and businesses affected by the coronavirus pandemic.

In a recent judgment issued by the English Commercial Court in Pipia v BGEO Group Limited [2020] EWHC 402, it has been held that, initially, the parent company does not have automatically control of its subsidiaries’ documents, merely by virtue of its shareholding .

Fifteen percent of enterprises are currently investing in 5G, rising steeply to 69% within three years. Yet, less than half (48%) are confident they can transition to 5G-based Internet of Things (IoT), with 74% indicating that they need to overhaul the operating model to realize implementation. That is according to a new EY study, Maximizing the 5G opportunity for enterprise, which surveyed more than 1,000 enterprises globally on the 5G opportunity.

Redomiciling a company’s seat of incorporation to the Republic of Cyprus offers businesses with an abundance of opportunities, given the island’s long established development as a significant business and financial hub and an ideal investment gateway to the European Union. Cyprus offers significant tax and other benefits, including a simplified and transparent tax regime, an importantly low-level corporate tax rate, and an extensive network of Double Tax Treaties. Click here for a deeper insight into the reasons for choosing Cyprus as your business’ seat : Why Cyprus?

“This,” explains Panayiotis Charalambous, research team leader at the Research Centre on Interactive Media, Smart Systems and Emerging Technologies (RISE), “is the start of something big.”

After growing numbers of requests from organized groups and bodies regarding the organization of cultural and political events in outdoor spaces, the health ministry said Wednesday that such events are permitted and can accommodate up to 350 people who must be seated.

Deputy Minister of Tourism Savvas Perdios has said “we do not allow ourselves to consider that this year`s tourist season is over since there are still three months and Cyprus is open.”

The value of Total Assets Under Management reached €7.97 billion in the second quarter of 2020, recording a 5.3% increase over the first quarter of the year, but a 3.7% drop compared with the fourth quarter of 2019, according to a quarterly statistical bulletin by the Cyprus Securities and Exchange Commission (CySEC).