Cyprus economy blooming following a 3 years’ drought

Last Friday, Fitch upgraded Cyprus’ long term foreign and local currency issuer default rating exponentially to B+ from B- previously, with “a positive outlook” for further recovery in the future.

Cyprus is a well-known regional financial hub

Cyprus is planning to introduce tax incentives to attract high net worth fund Managers, as well as reducing the personal income tax rate by half of those who earn over €100.000 a year.

Figures released show total number of Cyprus companies registered in 2015

The economy in Cyprus is definitely starting to grow. During 2013, Cyprus faced a big challenge in the Banking sector; however, it managed to successfully recover from the crisis with statistics showing that the economy is growing.

Major challenges for Cyprus economy

Cyprus was successful in meeting specific targets that were set out in the adjustment programme according to the European Commission. However this might lead Cyprus to face a number of internal and external risks.

Wealth exported overseas shrinks the Russian economy

Approximately 80% of Russia’s economic wealth was moved overseas according to leading academic research.

Report: The 10 most competitive economies in the world

The Global Competitiveness Report 2015-2016 assesses the competitiveness of 140 world economies including the ones of the USA, Russia, UK, Singapore and Cyprus.

Criminal Records Certificate for companies involved in public works

The Cypriot Cabinet of Ministers has agreed on a new law to be passed through the local parliament, monitoring activities of companies involved in public work.

Cyprus unemployment rate drops during Q2 2015

After the banking crisis in March 2013, the unemployment rate in Cyprus reached records highs.