Cyprus is making strides in digital dividend payments, aiming to enhance shareholder convenience and streamline distribution processes. The recent legal resolution involving Laiki and Bank of Cyprus depositors, coupled with positive economic indicators like decreased unemployment rates and increased employment figures, reflects the nation’s commitment to growth and financial stability.
Bureaucratic delays plague public services with thousands of files gathering dust, inefficient processing for benefits, and a lack of staff. To improve, reforms must include reallocating staff, setting clear goals, enhancing websites, and speeding up digitalization efforts.
Cyprus has made significant strides in digital connectivity with EU support, establishing a Broadband competence office and upgrading networks in remote areas like the Troodos Mountains school. The focus on inclusivity ensures equitable access for all, showcasing Cyprus’s commitment to bridging the digital divide and fostering innovation across the island.
Cyprus is facing a challenge with tax evasion, impacting its economy. Solutions include improving tax administration efficiency, digitalizing services, implementing stricter penalties, and simplifying tax return processes to reduce evasion and foster compliance.
The Deputy Ministry of Shipping in Cyprus has launched a onestop shipping centre, streamlining maritime services and enhancing efficiency in the Cypriot maritime sector. The centre provides prioritized access to state resources, revolutionizing the industry and positioning Cyprus as a global maritime player.
