Insights
Practical commentary on the legal developments that affect businesses and individuals in Cyprus.
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Tax Law
On Friday 14/09/2018 Standard & Poor’s Global Ratings raised its long- and short-term foreign and local currency sovereign credit ratings on Cyprus to ‘BBB-/A-3’ from ‘BB+/B’ with a stable outlook. This is certainly an important development and a vote of confidence to the Cyprus economy. S&P explained in an announcement the rationale behind its decision:… Read More
Cyprus reached a €10bn bailout deal with international lenders on Monday (25/03/2013) morning. The deal avoids a levy on bank accounts but will force large losses on big deposits in the island’s two largest lenders Bank of Cyprus and Laiki Bank. What is important is that the European Central Bank will keep its emergency lifeline open to Cypriot banks thus… Read More
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