fines

First circumnavigation of Cyprus for 50 years

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First circumnavigation of Cyprus for 50 years

On September 21, 2023, a crew led by IOC Young Leader Sophia Papamichalopoulos completed a circumnavigation of Cyprus, a feat not achieved in over 50 years. The project, named Winds of Change, involved young Greek and Turkish Cypriots sailing around the entire island to promote peace-building and dialogue. The journey took almost 70 hours, covering 326.9 nautical miles, and ended on the International Day of Peace. The initiative has gained international attention, with a documentary set to be released at the Paris Olympics.

Traffic camera fines generate , €9.3 million

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Traffic camera fines generate , €9.3 million

Revenues from fines issued for traffic violations caught by cameras from January 1, 2022, to March 14, 2024, amounted to €9,329,369. Within this period, 323,176 violations were detected, with fines issued for 320,447 of them. Of these, 147,188 fines have been paid, 149,094 are pending payment, and 24,165 are being contested in court. The majority of the fines, totaling 244,665, were for speeding, followed by 38,726 for traffic light violations. Fixed cameras recorded 137,838 violations, while mobile cameras recorded 202,172. Concerns were raised about the system being more focused on collecting fines than deterring traffic violations.

Our View: Labour minister is biased against businesses

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Our View: Labour minister is biased against businesses

Yiannis Panayiotou is the Minister of Labour in the Christodoulides government, known for his strong support of union interests. Over the past year, he has implemented several measures favoring workers, including increasing the Cost of Living Adjustment (CoLA), raising the minimum wage and the minimum wage in the hotel industry, introducing telework legislation, stopping outdoor work during heatwaves, drafting a law to protect workers from standing too long, extending maternity leave to five-and-a-half months, and raising the income of practising lawyers and engineers by €100. Plans for the coming year include stronger regulation of work terms and conditions, more support for working parents, tackling illegal work, extending parental leave, increasing birth allowance, and enhancing workplace safety. Despite these efforts, there is a concern about addressing the labor shortage of about 150,000 workers, especially in the hotel industry. Panayiotou aims to clamp down on illegal employment by increasing inspections by 65% and raising fines, but there are doubts about his approach to the labor market’s needs and his perceived bias against business interests.

House considers reducing fees for Cyprus startups

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House considers reducing fees for Cyprus startups

The House Committee on Energy, Trade, Industry and Tourism revisited a proposal aimed at abolishing fees for innovative startups to boost innovation and entrepreneurship. The proposal seeks to eliminate financial burdens like the €165 company incorporation fee and the €2,000 fee for converting a private company into a public one, essential for accessing funds from the money market. The fee exemption would not cover fines for regulatory non-compliance. The initiative has support from various representatives, including Marios Mavrides, who emphasized the struggle of small startups, and Kyriakos Hadjiyiannis, the committee president. The Deputy Ministry of Research, Innovation and Digital Policy, represented by Elena Poulli, also supports the proposal, highlighting its potential to help innovative businesses find investors. The proposal’s compliance with state aid regulations was addressed, emphasizing the need for approval to ensure the aid does not breach selectivity principles.

Boycott is the wrong response to bad news on bird trapping

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Boycott is the wrong response to bad news on bird trapping

Calls for a boycott of Cyprus in response to bird trapping are counterproductive according to a veteran of the anti-trapping campaign. Bird trapping in Cyprus is driven by financial gains, with illegal activities involving the ambelopoulia songbird delicacy generating significant profits. Recent relaxations in hunting laws have effectively decriminalized the use of glue-smeared limesticks for trapping, reducing fines and undermining deterrents. BirdLife Cyprus advocates for promoting birdwatching and nature tourism as sustainable economic alternatives to bird trapping. Despite efforts, convincing decision-makers to prioritize nature tourism and clamp down on bird trapping remains challenging. A boycott could harm the tourism industry without effectively addressing the issue of bird trapping. BirdLife Cyprus emphasizes the importance of continued engagement and reporting of trapping activities to authorities. Trapping levels with mist nets have significantly decreased over the past 20 years, but recent increases in trapping and leniency in penalties are concerning. Over 400,000 birds were killed in autumn 2023, highlighting the ongoing threat to migrant birds. Media coverage of the issue has been extensive, potentially influencing policy responses.

Thousands of companies face hefty fines

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Thousands of companies face hefty fines

Out of approximately 230,000 registered companies in Cyprus, only 140,000 have updated their records regarding their ultimate beneficial owners (UBOs) as required. Companies that do not comply with this requirement by the extended deadline of March 31, 2023, could face fines starting at €200 on January 1, 2024, and accumulating at a rate of €100 per day of non-compliance, potentially reaching up to €20,000. Many companies have found it difficult to update their UBO information due to various reasons, including the inability to contact UBOs who are in Ukraine or Russia. Additionally, around 70,000 of the 90,000 entities that have not updated their UBO records have filed for deletion from the registry, but tax authorities and banks have not consented to many of these deletions. There has been criticism of the Registrar of Companies for not implementing electronic signatures, which has contributed to inefficiencies. Concerns have been raised about the potential impact of the fines on family businesses, especially given the short time frame until the deadline.