According to an official press release issued by the Cyprus Ministry of Communication and Works, the Zenon Consortium has been declared as the preferred bidder for the DBFO (Design-Build-Finance-Operate) project for the development and expansion of Larnaca marina.

The Supreme Court of Cyprus has issued its judgment on the constitutionality of the Public Officers (Declaration of Property) Act of 2004, ruling that the statutory obligation of public officers to declare their financial state of affairs contravenes their constitutional rights to privacy. 

The Cyprus Supreme Court (Full Court) has now delivered its judgment in the Jaguar case, refusing the trademark registration initiated by a Swiss watch manufacturer in respect of the word «JAGUAR» and ruling in favour of the UK based motor group. 

In an effort to encourage external trade and international commerce through the provision of various incentives, the Council of Ministers has established the Larnaca Free Zone in Cyprus under the auspices of the Cyprus Ministry of Commerce, Industry & Tourism.

Within the framework of the Strategic Development Plan 2007 -2013, the Industrial Development Service of the Cyprus Ministry of Commerce, Industry and Tourism implements a Grant Scheme for Manufacturing Enterprises located within the area of the British Bases in Cyprus. 

Following recent amendments in Cyprus law permitting a direct action from the injured party in a road traffic accident against the third party insurer of the person responsible, the European Court of Justice in a recent decision has recognised the right of the injured party to bring an action before the courts for the place where that injured party is domiciled, provided that the insurer is domiciled in a Member State of the European Union.

In a recent judgment, the Supreme Court of Cyprus upheld the application of the exemption of VAT for first property even in the absence of regulations implementing the legislative provisions. 

 
The Cyprus government has adopted criteria in relation to the assessment of applications for providing employment permits to third country (Non EU) nationals, who wish to be employed by Cyprus companies.

The basic prerequisites for the approval of applications by non-EU nationals wishing to undertake a direct investment in Cyprus are highlighted by a recent circular by the Cyprus Central Bank, elaborating on the provisions contained in article 10 of the Capital Movement Law 115(I)2003.

Within the framework of the decision taken by the Heads of the Members States and the commitment of Cyprus to adopt specific measures in order to considerably reduce the average time for setting up a business, especially an SME, the Ministry of Commerce, Industry and Tourism announced as from 2 April 2007 the operation of the One – Stop Shop Service for setting up a business.