Cyprus: Finance and Banking

As the European Anti-Money Laundering Authority (AMLA) assumed its full responsibilities on 1 July 2025...

In an era of growing globalisation, regulation remains a pivotal force shaping the strategic priorities of financial services firms.

In the context of the 34th session of the UN Commission on Crime Prevention and Criminal Justice (CCPCJ), held on 19 May 2025 in Vienna, the FATF, INTERPOL, and UNODC issued...

Αμετάβλητη διατηρήθηκε η πιστοληπτική ικανότητα της Κυπριακής Δημοκρατίας στη βαθμίδα Α3 στην αξιολόγηση του Διεθνούς Οίκου Moody’sopens in a new tab, η οποία δημοσιεύθηκε χθες. Η εν λόγω αξιολόγηση επιβεβαιώνει την &

Comprehensive Overview of the Key Economic Trends and Developments Reported Across Cyprus This Week

Cyprus has enacted significant amendments to its judicial framework governing disputes over credit facilities secured by primary residences. The new legislation expands District Court jurisdiction to examine not only outstanding debt balances but also broader contractual issues including overcharges and unfair terms, while establishing specific procedures for challenging enforcement notices against mortgaged homes.

Non-resident property owners in Cyprus can complete sales remotely through proper legal representation, but success depends on coordinating title verification, mortgage releases, tax clearances, and completion documents before contractual commitments are made. What specific steps must sellers living abroad take to ensure their Cyprus property transaction proceeds smoothly without requiring their physical presence at every stage?

Purchasing immovable property in Cyprus involves considerably more than transferring ownership from seller to buyer. Rights and obligations affecting the property may already exist and, in certain circumstances, continue to bind it even after the transaction has been completed. Among the most significant issues encountered during property transactions are encumbrances registered against the property—mortgages, court memos, prohibitions, easements and other registrable interests that may affect a prope

Cyprus introduces significant reforms to its out-of-court financial dispute resolution framework through Law 87(I)/2026, establishing binding decisions by the Financial Ombudsman for monetary compensations up to €20,000. The amendments strengthen debtor protections during mortgaged property disposal procedures while maintaining judicial review rights and introducing new timelines for complaint submissions and debt restructuring negotiations.

Cyprus is set to revolutionize money transfers through a new instant payments initiative that will allow customers to send funds using only mobile phone numbers, eliminating the need for IBAN details in everyday transactions. The system, a collaboration between JCC payment, the Association of Cyprus banks, and Greek company Interbank Systems (DIAS), aims to launch in 2027 but faces important questions around transaction limits, security measures, and fraud prevention.

The case concerned the provident fund for employees of Cyprus Popular Bank Public Co Ltd and its subsidiaries. Harutune L. Arakelian retired on 31 December 2008 after 42 years of service and claimed compensation for losses arising from the Fund’s management. Following his death, Andriani Arakelian continued the proceedings as administratrix of his estate.

Το Τμήμα Φορολογίας ενημερώνει ότι, από τις 5 Οκτωβρίου 2026, τα αιτήματα για καταχώριση ή τροποποίηση του αριθμού τραπεζικού λογαριασμού (IBAN), θα υποβάλλονται αποκλειστικά μέσω της Πύλης Φορολογουμένων Tax For