COVID-19

The Ministry of Finance has issued clarifications with regards to the process for applying for suspension of loans to financial Institutions which we summarize below: Question 1. Where can the application be found? This form can be downloaded here ekdilosi_endiaferontos Question 2. How do we submit the application? Can this be submitted electronically or do we […]

Read MoreMinistry of Finance Announcement with regards to the process for Suspension of Loans

The Deputy Ministry of Shipping has announced measures to support Cyprus-flagged vessels and Cyprus Shipping. The circular can be read here Circular 2020-8 (2020-03-31)

Read MoreDeputy Shipping Ministry to the President Measures to support Cyprus-flagged ships and Cyprus Shipping

The Deputy Ministry of Research, Innovation and Digital Policy has announced a number of amendments that we need to bear in mind when it comes to movement outside our homes for exceptional circumstances and which can be also found in English-  English – and in Russian – Russian: For all movements by exception each confirmation of movement […]

Read MoreAmendments on Movement by Exception Application Procedures as issued by the Deputy Ministry of Research, Innovation and Digital Policy

For your convenience, a full translation of the latest legislation has been translated by PwC. The full document can be found here PwC-direct-tax-update-n-5-2020-english (1) and includes details on: Special Leave Benefit Special Sickness Benefit Special Benefit for the Self-employed Special Unemployment Benefit for Suspension of Business Operations Special Unemployment Benefit for Partial Suspension of Business.  

Read MoreFull Translated Summary of Cyprus Government Support Measures to Mitigate the effects of COVID-19

The  Central Bank of Cyprus has issued a circular which provides the banks with extended leeway on criteria for short-term loans and overdraft limits in an effort to assist business and household liquidity. According to the instructions of the Central Bank, the measures aim to provide easier and direct access to short-term loans to businesses […]

Read MoreCentral Banker’s Announcement on Credit Facilities by Banks to Businesses and Households

The Parliament has voted measures for the suspension of loan installments which are outlined as follows by the Ministry of Finance: “ The Ministry of Finance welcomes the decision of the Parliament to approve the Law on emergency measures by financial institutions and supervisory authorities. The extraordinary suspension measures aim at protecting borrowers and are […]

Read MoreDetails on the Decree for the suspension of loan installments by the Ministry of Finance

It has been clarified by the Minister of Health that there are exceptions to the one SMS per day rule which are defined as: Visits to and from Pharmacies Visits for blood donations Visits to the doctor Visits to persons who cannot be self-served Movements for transport of those serving in the National Guard

Read MoreExceptions to the “One permission a day” SMS Rule as clarified by the Minister of Health

A new decree under the Quarantine Law Act will be issued by Health Minister Constantinos Ioannou. In a statement to the press regarding the new measures to be issued, in order to tackle coronavirus, Mr. Ioannou noted the following: «In accordance with the powers vested in me by the Quarantine Law Act, on the basis […]

Read MoreMinister of Health to issue new decree under the Quarantine Law Act

As per Sunday March 29th Decree of the Ministry of Health, the Special Scheme for Partial Suspension of Businesses was issued. The criteria are as follows: Any company can be included in the plan provided its work has been partially suspended i.e. there is a turnover reduction of more than 25% in March 2020 and it […]

Read MoreKey points on the Minister of Health’s Decree on March 29th on the special scheme for partial closure of business operations

The Health Insurance Organization (HIO) informs non-Cypriot citizens who are legally residents in Cyprus of the following: 1.Existing GHS Beneficiaries’ re-evaluation of the right of access to GHS services on the basis of a valid Residence/Work Permit, is suspended until September 30th, 2020.  This measure is taken due to the extenuating circumstances prevailing as a result of […]

Read MoreExpiration of Residence/Work Permits and Affected Persons’ Access to GHS Services