Mortgage foreclosures and the process of auctioning mortgaged properties have been significant concerns for creditors and debtors in Cyprus over the past decade. The auctioning of a mortgaged property traditionally occurs as a consequence of non – payment of the mortgage debt. However, the frequency of auctions has notably increased in Cyprus with the enactment of the amending Law N.142 (I)/2014.

The Research & Innovation Foundation (RIF) on Friday unveiled its revamped innovation vouchers programme, offering €10,000 per project along with free support services to Cypriot small and medium-sized enterprises (SMEs).

The Cypriot economy exhibited its highest growth rate in the last five quarters during the first quarter of 2024, with Gross Domestic Product (GDP) increasing by 3.5 per cent compared to the same quarter of 2023, according to a preliminary estimate by the Cyprus Statistical Service (Cystat).

The Cyprus Property Developers Association (LBDA) marked its 40th anniversary this week, stating that during this time it has emerged as a “dynamic advocate and representative of the land and property development sector”.

The Cyprus Investment Promotion Agency, commonly known as Invest Cyprus, and the Cyprus Fiduciary Association (CYFA) inked a memorandum of understanding (MoU) on Wednesday, aiming to bolster their ties and foster cooperation to enhance the Cyprus business ecosystem.

The Cyprus Property Developers Association (LBDA) marked its 40th anniversary this week, stating that during this time it has emerged as a “dynamic advocate and representative of the land and property development sector”.

Cyprus’ construction sector has shown significant growth, as evidenced by the increase in building permits issued by the municipal authorities and the district administration offices in the early months of 2024.

Global Finance, one of the leading international publications focused on banking and finance, has named Bank of Cyprus the Best Bank and the Best Investment Bank in Cyprus in its 2024 awards, according to an announcement released on Tuesday.

National investment promotion agency Invest Cyprus recently showcased the country’s business and investment credentials in the Middle East, while also highlighting that Cyprus can act as a gateway to the EU for companies looking to expand to Europe.

Kyriacos Xenophontos, TEP, Partner at Elias Neocleous & Co LLC (ENC) and member of the board of STEP Cyprus, together with Adonis Zachariou, STEP Affiliate and Associate at ENC, recently attended the prestigious STEP Cyprus’ annual conference, themed “Reinventing the wheel: The Future of Succession Planning”.