In preparing your Cypriot business’ budget for 2024, account needs to be taken for increases in Social Insurance contributions effective 1 January 2024.

The Bank of Cyprus is set to complete its Minimum Requirement for Own Funds and Eligible Liabilities (MREL) target one year earlier than expected, signalling progress towards sustainable profitability, as announced in the bank’s financial results for the nine months ending in 2023.

We are thrilled to announce that Elias Neocleous has recently achieved re-certification with ISO 9001:2015 and received certification with ISO 45001:2018, underscoring our commitment to excellence in quality management and occupational health and safety standards.

This article is an update to our earlier article entitled: UBO Register in the Republic of Cyprus: Registrar of Companies Imposes Deadline for Compliance & Updates on Final Solution.

The Bank of Cyprus on Monday reported robust financial results for the nine months ending September 30, 2023, posting an after-tax profit of €349 million, combined with a strong quarterly performance, while highlighting a liquid, resilient balance sheet.

Cyprus’ Research and Innovation Foundation (Idek) on Monday announced that the submission period for proposals in the latest call for its pre-seed programme concluded on November 3, with an impressive 134 startups vying for funding to support their initial stages of development.

A Special Purpose Vehicle (SPV) subsidiary, which will facilitate the possible entry of the Republic of Cyprus and other potential investors in the EuroAsia Interconnector project, is to be established by the Independent Electricity Transmission System Operator of Greece (Admie), which has taken over the management of the flagship project.

As the wine sector is one of the government’s top priorities the government has allocated €22 million to its development in the coming years, Agriculture Minister Petros Xenophontos has said.

The vine-growing mountain village of Vouni is set to become the proud location of Cyprus’ first ever recognised Wine Sommelier School.

A number of technology and business experts this week stressed that while Cyprus holds great promise as a technological destination, more efforts are needed to establish a knowledge-based economy on the island.