Cyprus’ economic freedom score is 70.1 making its economy the 37th freest in the 2020 Index, according to The Heritage Foundation.

Cyprus and Israel aim to cooperate for the promotion of the Eastern Mediterranean as a top cruise destination despite the temporary lack of progress due to the coronavirus pandemic.

Major travel agents from Britain and Sweden seem to be overcoming their reservations regarding the mandatory coronavirus test and are starting to bring tourists to Cyprus again, Transport Minister Yiannis Karousos said Friday, speaking before the Parliamentary Transport Committee.

Christopher Pissarides, Nobel prize laureate and professor of economics at the London School of Economics, has been appointed chairman of the economic council of EuroAfrica Interconnector, the Egypt-Cyprus electricity interconnector.

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?