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New York — Cyprus ranked in as the 36th most expensive nation to live in, according to a recent survey by New York-based CEOWORLD Magazine. Switzerland has emerged as the most expensive nation to live in, followed by Norway and Iceland according to the CEOWORLD 2020 report, which was based on a range of living...
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Nicosia — Total deposits in Cyprus reached €48.6 billion in November 2019, while outstanding loans €34.2 billion, the Central Bank of Cyprus announced last week. Specifically, according to the official data, total deposits in November 2019 recorded a net drop of €84.1 million, compared to a net decrease of €158.3 million in October 2019. In...
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Nicosia – Total Assets Under Management (AUM) for the third quarter of 2019 in Cyprus reached €7.7 bln, recording a 12% increase compared to the second quarter of 2019, according to a quarterly bulletin recently issued by the Cyprus Securities and Exchange Commission (CySEC). The bulletin provides the key findings regarding the Collective Investment Schemes...
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The Founding Members of the Cyprus VAT Association (CYVA). Nicosia — The Cyprus VAT Association (CYVA) was recently established with the aim of providing a unified and independent voice to all professionals and businesses in Cyprus on Value Added Tax (VAT) matters. According to the Association’s Articles of Association, its main objectives are to promote...
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Limassol – Renowned Maltese VAT expert, Matthew Zampa, joins forces with the Chelco International VAT Academy in Cyprus to deliver a unique seminar on the Value Added Tax (VAT) treatment of cryptocurrencies. Titled “Digital Assets: Decrypting VAT,” the first-of-its-kind seminar will be held in Limassol in the morning of Thursday, 14 November 2019 and is...
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Nicosia — The Institute of Chartered Accountants in England and Wales (ICAEW) is searching to find the brightest 100 Cypriot students with the aspiration to be the next generation of business leaders. Students are asked to test their skills against their peers by taking part in an online exercise. Students who score in the top...
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Limassol – In an effort to serve its clients, associates and vendors better and more efficiently, Chelco Management Services Ltd has changed its business hours. Effective Wednesday, 2 October 2019, its new office business hours will be as follows: Monday — Thursday: 8am-1pm and 2pm-5pm Friday: 8am-2.30pm During lunch time between 1pm and 2pm, the...
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The Cyprus Council of Ministers decided earlier this month to reduce the VAT rate on building land from 19% to 5% in the form of a refund, under certain conditions. In its meeting on 11 September 2019, the cabinet decided to lower the effective VAT rate on the acquisition of building land to 5%, so...
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Nicosia — The bankruptcy of Thomas Cook, which accounts for 5% to 6% of total tourist arrivals to Cyprus, left 15.000 tourists stranded on the island. The world’s oldest travel firm, Thomas Cook, collapsed today, stranding over half a million of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history, expected to be completed by...
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Limassol — Tsielepis staff and guests bid farewell to the summer holidays this year with a cruise along the Limassol coastline last Friday, 13 September 2019. The evening started with a one-hour walking tour of Limassol with tour guides Demetra and Andri who offered the group an inside look into the old town. Then, as...
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