Blog

04/08/2018
The Cypriot government, following complaints voiced by European politicians and negative press coverage, revised its citizenship-through-investment scheme.Officially, since August 1, 2018, new regulations have been put in place. In the wake of the decisions taken in January for a tougher framework for controlling investor service providers, on Tuesday, July 31, the Cyprus Investment Services Provider's Register was published.The list of the...
31/07/2018
After conducting an amplitude of research on Cyprus’ economy, the Economic Research Center (ERC) of the University of Cyprus has concluded that the likelihood of economic growth in Cyprus is promising. The projected economic growth is 3.9%, indicating that the main contributing factors are low interest rates and inflation, foreign direct investment, and tourism.Through modernising Cyprus’ insolvency framework and as well as the...
20/07/2018
The rating agency described the sale of Bank of Cyprus UK as positiveBank of Cyprus announced last Tuesday it signed a binding agreement to sell Bank of Cyprus UK to Cyenergy Capital Limited, owned by a consortium of UK-based investors, a sale for a consideration of €117 million and a profit of €3 million.Rating Agency, Moody’s {https://www.moodys.com}, has described the sale of Bank of Cyprus subsidiary, Bank of Cyprus UK, as...
29/06/2018
At no point does a financial institution or lender want to have non-performing loans (NPL’s). When a lender loans a sum of money to another party, it is expected that the agreement will be fulfilled and the receiver of the loan will pay back in full including interest rate.The Cyprus News Agency (CNA) had followed and reported the progress of the merger of the Co-operative Bank in Cyprus and Hellenic Bank.The Co-operative Bank in Cyprus...
22/06/2018
In January 2010, FBME card services filed a complaint to the Administrative Court against JCC conspiring with eight of its shareholders (Bank of Cyprus, Marfin Laiki, Hellenic Bank, USB Bank PLC, Alpha Bank Cyprus Ltd., Emporiki Bank of Cyprus Ltd., National Bank of Greece (Cyprus) Ltd., and Societe Generale Cyprus Ltd.) to weaken their influence of the cards payments processing market.In 2016, the Administrative Court had denied to process this...

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