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In 2007 the Central Bank of Cyprus reduced the amount that commercial banks in Cyprus were permitted to lend against the security of second homes to 60% of the property value.

In order to increase public acceptance of cheques, in 2003 the Central Bank of Cyprus and the Commissioner of the Co-operative Societies Supervision and Development Authority jointly established a register of issuers of dishonoured cheques known as the Central Information Registry.

Circular 2016/16, which was issued by the Cyprus Tax Department on 25 November 2016, clarifies the requirements regarding returns of income received by non-residents...

The Cyprus Tax Department has announced a revision of the previously-announced reference rates used to calculate the NID under article 9B of the Income Tax Law for new capital used to finance assets employed in Russia.

The Cyprus Department of Merchant Shipping has reissued its guidance to owners and operators of Cyprus-flagged ships and ships calling at ports in Cyprus regarding reporting procedures...

The Cyprus government has announced the signature of a new double taxation agreement with Norway.

The Registrar of Companies has issued an announcement regarding the requirement for limited partnerships to submit audited annual financial statements.

Cyprus has now enacted all the new laws required to align its legislative framework with the 2014 EU Bank Recovery and Resolution Directive (BRRD) and the 2014 Deposit Guarantee Schemes Directive.

The European Commission has recently adopted a third amendment to extend the scope of the State aid Temporary Framework adopted on 19 March 2020 to support the economy in the context of the coronavirus outbreak. The main p

On the 1st of February 2021, the Brussels office of Elias Neocleous & Co LLC presented a webinar, accredited by the Cyprus Bar Association, on ‘The European Green Deal' .

The countercyclical capital buffer (CCB) was introduced as part of the Basel III regime to help counter cyclicality in the financial system.

The Ministry of Energy, Commerce and Industry of Cyprus announced the call for participation in the Business Clinics Program of the European Bank for Reconstruction and Development (EBRD)

The disclosure requirements will have to be followed by "intermediaries" and, in some instances, the taxpayers.

The Tax Department's announcement clarifies that the derogation does not affect other EU member states' obligations to provide information to Austria.

The current COVID 19 pandemic renders these challenging times for Cyprus, and, indeed the world. They are also a reminder that there is nothing more important in life than the physical

The strategic location of the island of Cyprus and its considerable wealth in ancient times have made it subject to occupation by several different nations and civilisations.

Following the introduction of the bail-out package agreed between the European Union, the European Central Bank and the International Monetary Fund on the one hand and the Cyprus government on the other, the two largest banks in Cyprus will be merged and considerably downsized.