Minister says housing permits will take just 40 working days Cyprus has revamped its planning and building permit system, cutting approval times to just 40 working days for small-scale developments, Interior Minister Constantinos Ioannou announced this week. The initiative is part of a broader strategy to eliminate delays and modernise housing construction processes. The reforms target low-risk “Category A” […]

Cypriot DIY retail chain Superhome Centre is set to change ownership in a €94 million deal, it emerged this week. The prospective buyer is reportedly a billionaire investor of Greek descent, according to Economy Today. The same reports said that the buyer, who has previously been listed among the world’s top 200 richest individuals by Forbes, initially […]

CySEC officer Elena Karkoti on Thursday highlighted the ongoing issue of underrepresentation of women on corporate boards and in leadership roles. She described this phenomenon as “a profound social and political contradiction” during a time where equality has been in the spotlight. Karkoti said that despite progress in gender equality, “women remain trapped on the margins of decision-making centres and are often a […]

Cyprus is stepping up as a leading destination for international investment, president Nikos Christodoulides said on Wednesday. Speaking at the ‘EY Cyprus Attractiveness Forum 2024,’ the president outlined the government’s strategic plans to bolster economic growth and investor confidence. Addressing industry leaders, Christodoulides reaffirmed the government’s dedication to fostering economic stability and enhancing the business […]

African migrant workers and labour organisers gathered in Nicosia’s Old Town on Sunday for Cyprus’s first African workers’ conference. The six-hour event, organised by the Industrial Workers of the World Cyprus Regional Organising Committee (IWW-CyROC) and African community members, combined labour activism with cultural exchange through music and food. Cameroonian community representatives discussed their homeland’s history and current […]

The government is set to expand the categories of Christmas bonus recipients and provide additional financial support to mountain community residents, President Christodoulides announced today ahead of a cabinet meeting. Speaking at the start of the Council of Ministers meeting, Christodoulides revealed plans to increase the number of Christmas bonus beneficiaries for 2024 by 40,000, […]

Administrative, support, and real estate services in Cyprus performed well during the third quarter of 2024, according to the latest services turnover value index report.  Specifically, according to the Cyprus Statistical Service (Cystat), real estate activities recorded an 11.5 per cent increase compared to the same period in 2023.   Information and communication activities followed, rising […]

Invest Cyprus on Wednesday announced that it has concluded a successful mission to Saudi Arabia. The mission, the agency said, will help facilitate future collaborations, supporting the country’s objective to increase foreign direct investment. Specifically, Invest Cyprus travelled to Saudi Arabia to take part in the 28th World Investment Conference (WIC), organised by the World Association of Investment Promotion […]

Cyprus on Wednesday showcased its advantages as a tax destination during a gathering in London, highlighting benefits for high-net-worth individuals amid UK tax reforms. The event, titled ‘Non-Doms: The Cyprus Private Client Offering Gathering 2024, was hosted by IMH and Invest Cyprus at the London Stock Exchange. More than 150 participants attended the event, including […]

Cyprus achieved record-breaking tourism results in 2024, according to Deputy Minister of Tourism Costas Koumis. Speaking at the annual general assembly of the Association of Cyprus Travel and Tourism Agents (ACTA), he highlighted that October set a new benchmark, with arrivals surging by 26 per cent compared to 2022. Koumis praised the sector’s resilience in the face of challenges such […]

Cypriot businesses have accelerated their digital transformation efforts in 2024, according a study on the use of information and communication technologies (ICT) and e-commerce. Conducted by the Cyprus Statistical Service (Cystat), the study revealed the widespread adoption of such technologies in order to stay competitive and drive growth. Specifically, 84.1 per cent of businesses now […]

Transport Minister Alexis Vafeades inspected the Astromeritis-Evrychou motorway construction site on Tuesday, confirming the €90 million project remains on schedule for completion in October 2025. The motorway, which began construction in October 2022, aims to strengthen connections between the Troodos mountain communities and Nicosia. During his site visit, Vafeades expressed satisfaction with the progress, noting that contractors […]

The Limassol Municipality will pedestrianise Anexartisias Street, the city centre’s main commercial thoroughfare, for three consecutive Sundays during the Christmas and New Year period. In a statement, the municipality said that with Cyprus Police Chief’s approval and in accordance with Limassol Municipal Regulations 2006 regarding traffic management, Anexartisias Street will be closed to vehicles on […]

Cyprus is well prepared for the new EU crypto assets regulation, ushering in a new era on January 1, 2025, the Cyprus Securities Commission assured President Nikos Christodoulides on Monday. Presenting CySec’s report for 2023, chairman George Theocharides said there was “a healthy growth in the securities sector” and outlined a series of challenges ahead. […]

Limassol led Cyprus’ high-value real estate market in October, driving €34.6 million in top property sales, according to real estate analytics firm Ask Wire. The district recorded four of the ten most expensive transactions, including the highest-value sale of the month—a €9.9 million mixed-use building in the Panagia Evangelistria area of Kato Polemidia. Ask Wire’s analysis shows that […]

Bernhard Schulte Shipmanagement (BSM), a third-party ship manager headquartered in Limassol, is gearing up for the FuelEU Maritime regulation, which comes into effect in 2025. The company has a fleet of over 670 vessels and a global network of 11 ship management centres. Accrding to an announcement, BSM has integrated innovative digital tools and measures […]