Independent Authority Committee against corruption - The President of the Republic Nicos Anastasiades on Tuesday announced the appointment of the Transparency Commissioner and the members of the Independent Authority against Corruption. As Government Spokesman Marios Pelekanos said in a written statement, President Anastasia... more

Cyprus to export natural Gas by 2026 - Cyprus is targeting first natural gas exports by 2026 via the “Aphrodite” gas field, Minister of Energy, Commerce and Industry Natasa Pilides has said. Speaking after a hearing of the parliamentary committee of Commerce, Pilides said there are many options concerning natura... more

UFG upgrades Cyprus as a destination for funds - The Cyprus Investment Funds Association welcomes the decision of the global mogul, MUFG Investor Services, to establish a European base in the country. MUFG, the global asset servicing arm of Mitsubishi UFJ Financial Group, announced the expansion of its franchise via the est... more

Cabinet approves 2 new energy-saving grant schemes - Two new grant schemes were on Wednesday announced by the energy ministry totalling € 49 million, for the energy upgrade of small and medium enterprises (SMEs), non-profit organisations (NGOs), local government authorities and broader public sector bodies. The main goal is to ... more

Energy Minister Announces Grant Schemes Worth €158 - Grant schemes, worth €158 million, will be made available in 2022, Minister of Energy, Trade and Industry Natasa Pilides announced during an online workshop, on Wednesday, 16 February. Pilides stressed that the Ministry is continuing for the second year its ambiti... more

Approval of €657 million for EuroAsia Interconnect - The €657 million funding from the EU on the EuroAsia Interconnector paves the way for implementation of the electricity connection between Cyprus, Greece and Israel and ends Cyprus’ energy isolation, Minister of Energy, Commerce and Industry Natasa Pilides said on Thursday,... more

Cyprus Economy in 2021 - Financial Statistics - The Cypriot economy in 2021 recovered the output lost during the 2020 Covid crisis and will continue to grow at an average rate of 3.7% in the years 2022–2024, the Central Bank of Cyprus expects. In its economic bulletin, it also stresses that risks to the baseline scenari... more

Exxon, Qatar Petroleum awarded Block5 gas rights - The Council of Ministers approved on Thursday the licensing of block 5 of the Cyprus EEZ to the of ExxonMobil Exploration and Production Cyprus Limited and  Qatar Petroleum International Upstream LLC consortium. In statements after the Cabinet meeting, Energy, Commerce and... more

Cyprus Tax News - Cyprus Action Plan for attracting companies to operate or expand their activities in Cyprus. On 15 October 2021 the Cyprus government presented its Action Plan for attracting companies to operate or expand their activities in Cyprus, in an attempt to make the island a Susta... more

Action Plan for attracting companies to Cyprus - The incentives given include housing and employment, taxation, simplification and digitization of procedures, as well as promoting the country as an attractive investment destination.The Plan enters into force on January 1, 2022. Emphasis is given in areas related to, Technol... more