British expats who have lived abroad for many years often remain UK domiciled and liable to UK Inheritance Tax (IHT). The rate of tax might be considered penal. It is currently 40% of the total value of the estate of a deceased after the exemptions. It is an additional tax payable on capital accumulated during
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Foreign Minister Ioannis Kasoulides has strongly protested to the head of the UN Peacekeeping Force in Cyprus (UNFICYP), Colin Stewart, for what Nicosia perceives as mission derailment. In a Friday statement, the Foreign Ministry said that representations were made by telephone since Stewart couldn’t attend a meeting. Kasoulides expressed the Greek Cypriot side’s “strong discomfort
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The Cyprus Securities and Exchange Commission (CySEC) has granted cryptocurrency exchange Binance Class 3 registration as a crypto asset services provider. Following in the footsteps of rival crypto exchange FTX, which set up a Cypriot entity in March, Binance is now permitted to offer spot, custody, staking and card services in compliance with CySEC’s anti-money-laundering
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By Craig Erlam Stock markets turned red again on Friday after spending the earlier part of the week in recovery mode, with yields around the world once again on the rise. The recovery never looked sustainable and that’s how it’s proving to be. There is still huge uncertainty over the economy, inflation and where interest
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Omonia Nicosia was quick to replace former Celtic boss Neil Lennon who was axed this week, after just seven months in charge, with Belgian coach Yannick Ferrera. On Friday, Omonia announced the hiring of the 42-year-old Belgian coach with a contract until the summer of 2024. “We welcome Mr Yannick Ferrera to the OMONIA family
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President Nicos Anastasiades will pay his third visit to the Holy See between 23-25 October, during which Pope Francis will receive him. The migration crisis, climate change and the Cyprus peace talks are on the agenda. Head of the Presidency Press Office, Andreas Iosif, said this is the third time during his 10-year tenure that
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Tourism Minister Savvas Perdios and Hungary’s Minister of Foreign Affairs Peter Szijjarto signed a Memorandum of Understanding on health and wellness tourism. From Budapest, Perdios said Cyprus wishes to gain knowledge of this growing market. “Hungary is considered an advanced country in this field of tourism, and this would assist us in developing and promoting
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The death of conscript Thanasis Nicolaou declared a suicide 17 years ago, is now being treated by Cyprus police as premeditated murder, with a special task force assigned to the case. Army conscript Thanasis Nicolaou, 26, was found dead under a Limassol bridge in 2005, with authorities declaring it a suicide at the time. After
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Cyprus reported two Covid-19 deaths in the past week and a marginal drop in new cases and hospitalisations to 2,755 and 42, respectively. The Health Ministry said in its weekly Covid report that the latest victims were two men, aged 73 and 78. Hospitalisations dropped by 11 from 53 to 42, while critical cases rose
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Cypriot teachers are paid less than most of their colleagues in Europe, with the average pay cheque for an educator lower than the average salary in 36 countries. According to data compiled by the European Commission, the average annual salary of a teacher in Cyprus during 2020-2021 was €24,189 (gross). The average salary of an
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