How has Cyprus improved its renewable energy share among EU nations?

Cyprus has enhanced its renewable energy share by investing in solar power, given its abundant sunshine, and by implementing policies that encourage the adoption of renewable energy technologies.

Cyprus Advances in Renewable Energy, Tops MOT Rankings

Cyprus Champions Renewable Energy Growth in the EU

In a significant stride towards a greener future, Cyprus has reported a remarkable surge in the use of renewable energy sources within the European Union. Energy Minister George Papanastasiou, while addressing the International Renewable Energy Agency (IRENA) summit in Abu Dhabi, highlighted this achievement, underscoring Cyprus’s commitment to sustainable energy practices.

The Mediterranean island is not only making waves with its renewable energy accomplishments but is also set to host a pivotal interministerial meeting of the EU’s MED9 group in September. As the current president of the MED9, Cyprus will welcome energy ministers from Croatia, France, Greece, Italy, Malta, Portugal, Slovenia, and Spain to discuss the future of green energy in the region.

Papanastasiou emphasized the potential of the Mediterranean to become a nexus for green energy transfer between EU member states and third countries. He pointed out Cyprus’s strategic geographical position as an ideal centre for energy transmission. The focus on enhancing electrical interconnections and other energy infrastructures is a testament to the island’s proactive approach to energy issues.

The Energy Minister also shed light on the significance of interconnectors. These are not just vital for bolstering renewable energy sources but also play a crucial role in reducing electricity costs and reinforcing the security of electricity supply. This forward-thinking approach is indicative of Cyprus’s role as a leader in the transition towards renewable energy within the EU.

With these developments, Cyprus is setting a precedent for other nations to follow, demonstrating how strategic geographic positioning combined with a commitment to sustainability can lead to substantial progress in the energy sector.

Businesses Secure Long-Term Stability with New Lease Agreements

The EURUSD currency pair remains in a tight range above the 1.0900 support level on Monday as it struggles for direction. Investors seek fresh cues at the start of a busy data week, which may indicate how much the Federal Reserve will cut interest rates in September.

India Sees 22.5% Growth in Tax Collections, Boosted by Lease Revenues

India's net direct tax collections saw a significant boost, growing by 22.5% as of August 11, compared to 19.54% the previous month. This surge was driven by a 30% rise in Personal Income Tax revenues and a 111% increase in Securities Transaction Tax receipts, despite modest corporate tax growth.

New Tech Firm Secures Long-Term Lease in Downtown Business District

A major tech firm has signed a long-term lease for a new office space in downtown San Francisco, signaling confidence in the city's commercial real estate market. The move is expected to bring hundreds of jobs to the area and boost local businesses.

Lawmakers Consider Alternatives as Lease Deduction Nears Expiration

Lawmakers are evaluating alternatives to the expiring 20% deduction for qualified business income introduced by the Tax Cuts and Jobs Act. One option is corporate integration, which could address existing distortions. Businesses with a lease may also be impacted by these potential changes.

Company Registration in Cyprus

Expand your business in international markets with minimal tax burden. Our experts will guide you, provide free consultation, and handle paperwork. With us, enjoy a favorable tax system, stable legislation, and global payment systems. Register your company, set up a bank account, and scale effectively. Take advantage of Cyprus' low corporate tax rate and simple registration. Join us and thrive internationally!

learn more

Cyprus visa guide

Travel visa basics
Cyprus application process
Check visa status
Online visa verification

Cyprus Advances in Renewable Energy, Tops MOT Rankings

Cyprus Champions Renewable Energy Growth in the EU