NEWSLETTER 

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BREXIT: ITS EFFECTS ON RESIDENCY RIGHTS, TRAVEL AND RELOCATION OF UK NATIONALS TO CYPRUS

02 February 2021

By Esme Palas

Partner at MICHAEL KYPRIANOU & CO LLC.

As we all know Brexit is now a fact. It has left UK Nationals who have established their life in Cyprus feeling unsure and concerned as to how it will affect their right to live work and study in Cyprus.

READ THE FULL VERSION HERE:
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BREXIT TRADE DEAL: 11 CURIOUS AND AWKWARD DETAILS EMERGING FROM THE SMALL PRINT

20 JANUARY 2021

By Savvas Kyriakides

Founder & President of Great Britain-Cyprus Business Association

The deal came into effect on January 1, 2021 and prevents tariffs or quotas on £668 billion a year of trade which would have been imposed if there was no Brexit deal.

READ THE FULL VERSION HERE:
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THE COUNCIL OF MINISTERS HAS APPROVED THE MODIFIED ACTION PLAN FOR THE GRADUAL RESUMPTION OF FLIGHTS AND THE REOPENING OF AIRPORTS 

05 DECEMBER 2020

By  Transport Minister

From Council of Ministers

The Council of Ministers today approved the modified Action Plan for the gradual resumption of flights and the reopening of airports

READ THE FULL VERSION HERE:
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I LOVE CYPRUS AND CYPRUS IS MY HOME

17 OCTOBER 2020

By  Paola Castano

From DP Ultra Ltd Consultants Investments

As an investor and a citizen of Cyprus

I will continue to invest in Cyprus and its people in all means, whatever that has occurred and if some people believe that some others don’t go by the law I can tell you that this happens everywhere and anywhere in the world.

READ THE FULL VERSION HERE:
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EPIDEMIOLOGICAL RISK ASSESSMENT OF COUNTRIES CONCERNING COVID-19

21 SEPTEMBER 2020

By  MK

From Ministry of Health

The epidemiological picture of various countries with regard to the COVID-19 disease has been re-evaluated by the Epidemiological Monitoring and Control of Infectious Diseases Unit of the Medical Services and the Public Health Services. 

READ THE FULL VERSION HERE:
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STATEMENT BY THE CHANCELLOR, RISHI SUNAK TO REIGNITE THE ECONOMY

15 JULY 2020

By  Alex Chrysapiades

Partner

From Adler Shine LLP

The past couple of months have been a difficult time for people and businesses. Everyone has felt the impact of COVID-19 one way or another and whilst it has not yet disappeared, the data continues to shoe a downward trend. As a result, the government continues to relax the measures imposed, eager to pull the country out of lockdown and reignite the economy.

READ THE FULL VERSION HERE:
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EY CYPRUS EXPLORES THE INITIAL IMPACT OF COVID-19 ON THE RETAIL SECTOR AND PROPOSES MEASURES FOR RECOVERY

17 JUNE 2020

By  Stelios Demetriou

Head of Transaction Advisory Services

From EY Cyprus

The rapid spread of COVID-19 pandemic has caused an unprecedented global shock, both on a humanitarian and an economic level.

READ THE FULL VERSION HERE:
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UPDATE ON FURLOUGH SCHEME EXTENSION IN UK

16 MAY 2020

By  Alex Chrysaphiades 

From Adler Shine LLP, Chartered Accountants and Business Advisors

The government introduced the furlough scheme as a major financial measure at the start of the Coronavirus lockdown. The scheme is a measure to counter redundancies, with the government paying 80% of wages, up to £2,500 per month.

READ THE FULL VERSION HERE:
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UK’S APPLICATION TO ACCEDE TO THE LUGANO CONVENTION AND THE RECOGNITION OF UK JUDGMENTS IN CYPRUS POST-BREXIT

07 MAY 2020

By  Marina Hadjisoteriou and Constantina Zantira

From  Michael Kyprianou & Co. LLC

In light of the Βrexit implications for the justice system in the United Kingdom and the broader European Union spectrum, the government of the United Kingdom is taking active steps in securing the establishment of its partnership with the European Union and other states in various fields of law for the efficient and effective administration of justice.

READ THE FULL VERSION HERE:
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PREPARING YOUR WILL

31 MARCH 2020

By  Alvaro Aznar and Robyn Dann

From Child & Child

Having a Will gives you the control and freedom to decide who will inherit your assets when you pass away. This is very important, especially if you have young children, children from a previous marriage, you are not married to your partner or you want to leave all, or part, of your estate to a third party like a charity.

READ THE FULL VERSION HERE:
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BUSINESS RISK AND FINANCIAL PLANNING FOR COVID-19 - BRITISH GOVERNMENT'S FINANCIAL SUPPORT MEASURES.

25 MARCH 2020

By  Alex Chrysaphiades

From Adler Shine LLP

The UK government announced its financial planning following the COVID-19 pandemic, helping and supporting businesses to prepare for these challenging times and survive.

READ THE FULL VERSION HERE:
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FINANCIAL MEASURES ANNOUNCED BY THE GOVERNMENT OF THE REPUBLIC OF CYPRUS IN RESPONSE TO THE COVID-19 PANDEMIC

25 MARCH 2020

By Savvas Savvides

From Michael Kyprianou

On 15th March 2020 the Minister of Finance, Cyprus, announced measures aimed at countering the financial impact of COVID-19 on businesses, employees and vulnerable groups of the population in the Republic of Cyprus.

READ THE FULL VERSION HERE:
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THE CURRENT STRENGTH OF THE CYPRIOT PASSPORT

13 MARCH 2020

By Savvas Savvides

From Michael Kyprianou

Holders of Cypriot passports have been enjoying an increasing number of related benefits in recent years. Relevant surveys conducted by academics and immigration experts rank the Cypriot passport 21st place – on a list of 160 countries in total.

READ THE FULL VERSION HERE:
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WHY CHOOSE CYPRUS FOR INNOVATIONS & START-UPS

27 FEBRUARY 2020

By Xenia Neophytou

From CXFinancia

Cyprus’s strategic position, as well as its valuable historical and geopolitical background, have helped make the island an attractive international business hub.

READ THE FULL VERSION HERE:
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BREXIT

5 FEBRUARY 2020

By Agis Charalambous

Head of I.P. at Michael Kyprianou & Co. LLC

The UK officially left the EU on 31 January 2020.

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With the Withdrawal Agreement ratified by both the UK Parliament and the European Parliament, the UK enters an eleven-month transition period until 31 December 2020, unless extended.

READ THE FULL VERSION HERE:

The name of the organisation is “Great Britain – Cyprus Business Association”.

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1. OUR OBJECTIVES

The principle objectives of Great Britain – Cyprus Business Association shall be to:

a) Provide support and promote the business interests of each member of Great Britain – Cyprus Business Association with a view to mutual financial benefit.

  1. Provide a setting from where the Great Britain – Cyprus Business Association members can network with a view to increasing their business opportunities, by working with other members, to raise: Business opportunities for our members.

  • Raise issues of relevance for general discussion.

  • Promote ideas on how to expand the association and improve methods.

  • Values of relationships.

  • Generally, network in a business and social setting.

c) Act as an umbrella organization for all its members and where necessary, to make appropriate representations to various bodies and/or authorities for and on behalf of its member(s).

d) We are a non-political organisation and have no political affiliation to any political or municipal movement within the UK or Cyprus. Though we may discuss, talk to or report features regarding any political or municipal authorities we do not promote or endorse their views. We are not sponsored or backed by any political or municipal authorities and depend wholly on sponsorship, membership fees and fund-raising activities.

f) To encourage the membership to work together in the spirit of Great Britain – Cyprus Business Association’s objectives; and abide by a code of conduct to provide quality services and high standards.

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2. MEMBERSHIP

a) Membership of Great Britain – Cyprus Business Association shall be composed of independent companies and/or individuals engaged in business and shall be properly established as a legal and bona fide entity.

b) Each member of Great Britain – Cyprus Business Association must always possess display and exercise a sense of camaraderie, to be clearly manifested by actively promoting, exercising and/or displaying professional, united and friendly co-operation between members.

c) Members of Great Britain – Cyprus Business Association agree to behave in a fair, business-like manner with proper administration and within the spirit of mission statement and ethos, whether express or implied.  Each member must have as part of their standard procedure, the practice of providing their clients with a clear copy of their standard written terms and conditions and/or a written agreement with the client(s), prior to the commencement of business.   

d) Members shall be committed to Great Britain – Cyprus Business Association’s objectives to fully agree to; work as a team, encourage networking, so that business leads are properly nurtured and developed for members’ mutual benefit to assist in financially securing members’ futures.

e) Members must display a positive mental attitude, be able to accept constructive criticism and genuinely aspire to work as a member of the Great Britain – Cyprus Business Association team; with the ultimate aim of mutual financial benefit, with exercise at all times of friendship, fun and camaraderie, in the process.

f) Great Britain – Cyprus Business Association and its individual members are at liberty to cancel their individual membership without notice as the relationship between the member(s) and Great Britain – Cyprus Business Association is strictly voluntary. Membership fees will not be refundable.

g) Any business agreements between members of Great Britain – Cyprus Business Association must be in writing to safeguard intentions otherwise any misunderstandings may cause serious issues that the association would not wish to be involved in and consequently, one or both members may have their membership revoked at the discretion of the association committee; all members are expected to work together, co-operate for their own good and that of all members.

h) No member of Great Britain – Cyprus Business Association shall be held accountable and/or responsible for any other member’s accountability and/or liability, arising from another Great Britain – Cyprus Business Association member(s) actions or omissions; as each member is an independent legal entity in their own right and without any collective and/or inferred liability being assumed by Great Britain – Cyprus Business Association and/or any other member, not being a party to the particular agreement from which the question of liability may arise, whatsoever and/or howsoever arising, unless otherwise agreed in writing.

i) All members must make their own decisions and carry out all due diligence enquiries, independently of Great Britain – Cyprus Business Association  in respect of all dealings between themselves, as Great Britain – Cyprus Business Association does not accept any responsibility for any agreement or contract or otherwise carried by any other party (irrespective of whether they are Great Britain – Cyprus Business Association members or not), unless the association has expressly agreed and/or is expressly party to any agreement. It must therefore not be implied or considered that any member of Great Britain – Cyprus Business Association should enter in any agreement with any member simply based on their membership or other association with Great Britain – Cyprus Business Association

j) All members are expected to provide the best quality service, whereby we have set out the minimum standard expected, which can be best described as a Service Level Agreement, which together with actions that are in the spirit of sustaining a high standard should help secure work and inspire confidence in receiving recommendations, all members must therefore agree to the following:- i) Carry the required and valid Public Liability Insurance (if applicable), and Professional Indemnity Insurance (where applicable). It is up to members to check that any other member that they may have dealings with, carry the appropriate current Insurance policies relating to any potential contractual agreements. ii) Carry the required and valid Professional or registration Certificates in connection with the relevant trade bodies; iii) Provide transparency by giving written costs estimates/quotes.  Any extra work also to be agreed in writing. iv) Ensure that the strictest confidentiality is maintained with all matters of work carried out in line with “Data Protection Act” and “GDRP”  and where necessary, comply with Non Circumvention and Non-disclosure agreement; v) Comply with the Great Britain – Cyprus Business Association Constitution and the spirit of the Great Britain – Cyprus Business Association concept: and  vi) Ensure as a part of standard procedure, that clients are provided with your company standard Terms & Conditions and/or other written agreement with the clients, prior to the commitment of business.

 

3. OUR ACTIVITIES

In a few words our activities are:

  • promoting networking

  • Introducing your company to our Members and Associates in Cyprus and UK provided that we have your permission

  • organising business International Events and webinars in London, Cyprus and around Europe, promoting Cyprus as the perfect place to buy and invest as well as the UK as a global Financial centre.

  • promoting businesses in the UK and Cyprus mainly in UK and Cyprus but also worldwide.

  • organising Roadshows

  • publishing our e-newspaper monthly

  • providing you with information from UK and Cyprus

 

Many Big Firms in Cyprus and UK have already joined us.

Visit www.gbcy.business/members   
 

If you would like to become a member of our Association, the annual fee is £250.00.

 

4. WHAT A MEMBER IS ENTITLED FOR

  1. We upload your logo, with direct link to website immediately, on our website page www.gbcy.business/members , including a short description of your company, at the bottom of your logo (Max: 25 words).

  2. A full A4 page advert in the next issue of the e-newspaper, once a year.

  3. You are entitled to up to one article monthly to be included in our e-newspaper, www.gbcy.business/e-newspaper    
    You will receive by email our monthly e-newspaper. As a member, you will be invited very often for an interview or to participate on our questionnaire.

  4. You will have the opportunity to be voted as a member of the Board as soon as we have our annual meeting which will be announced after the end of the pandemic and the lock down.

  5. You will be entitled to special discount or upgrades of your sponsorship during International events. Visit www.gbcy.business/events

  6. You will also have priority as regards participation as speaker or panellist at our International events.

  7. You will also have priority as regards participation as speaker or panellist a t our International webinars. Please have a look at our recent and upcoming webinars by webinars by visiting www.gbcy.business/webinar  

  8. We will introduce you to our members as well as to businesses you want to reach either in the UK or in Cyprus. My personal contacts in the UK and Cyprus are Law Firms with Immigration services, Big Accounting Firms, Financial Institutions, Real Estate Agents, Developers, Investing Groups, Food & Drink Suppliers, Importers and Retailers, wealthy individuals and much more.

  9. We ask you to tell us which businesses you are interested to contact directly, and we introduce you to the top management or the right person you are looking for.

  10. If you organise an event or a seminar or a webinar and you want us to promote it to our members and thousands of associates, we will be glad to do it. We can also organise an event in Association with you. 

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5. MEMBERSHIP FEES

  • Membership is paid on an annual basis and the start date is from your payment has cleared in our account. The duration is for 365 days (including the date of payment cleared) thereafter.

  • The annual fee is £250.00 (sterling) and is non-refundable.

  • Your company must be clear of any County Court Judgements (UK) or the equivalent in Cyprus.

  • Your company must be clear of any criminal or fraudulent activities.

  • Your fee must be deposited in our account.

  • Two Sponsorship packages are also available upon request.

 

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On behalf of the Association

 

Savvas Kyriakides

Founder & President

Great Britain – Cyprus Business Association

www.gbcy.business

Great Britain - Cyprus Business Association