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Exploration for oil and gas offshore the Republic of Cyprus is in a developing phase. A considerable amount of geophysical data which are available, the stable business environment and the attractive terms (zero taxation on revenues from offshore hydrocarbon exploitation) offered makes Cyprus highly preferable for hydrocarbon exploration. Moreover, a known hydrocarbon system exists in the vicinity with large hydrocarbon discoveries, while the Southeast Mediterranean region is a market with large potential for oil and gas trading.

The Council of Ministers is responsible for granting licences for prospection, exploration and exploitation of hydrocarbons. Applications for exploration and exploitation licences are accepted in licence rounds. At present, an Exploration License for Block No 12 has been granted to Noble Energy International Ltd on the 24th of October 2008.

Out of 106 countries that generate enough data to run a study about the safest countries in the world, Cyprus proudly holds the 5th place worldwide!

More amazing is the fact that Cyprus is the No 1 safest place to live and visit among countries that have population under 5 million.

Cyprus and the other 4 countries that made the top have an average 47.62% lower safety score than other countries that participate in the study. Switzerland, Singapore, Spain, Japan and Cyprus scored the best results out of 7 data categories ( CO2 emissions, life expectancy, national police personnel, traffic deaths, thefts and assaults, number per 100.000 people).

So now that you know better, you can feel free to escape to this little paradise called Cyprus !

Link: https://lovecyprus2site.wordpress.com/2016/02/20/cyprus-ranks-1st-among-smaller-countries-and-5th-worldwide-in-the-safest-countries-in-the-world/

Washington (AFP) – International Monetary Fund chief Christine Lagarde praised Monday Cyprus’s decision to end its bailout program two months early after the Eurozone country regained its financial footing.
The IMF’s part of the IMF-European Union rescue program was due to expire on May 14. Cyprus also ended its loan program with the European institutions slightly early; it was supposed to expire this month.
In March 2013, after its banking sector collapsed, Cyprus negotiated a 10-billion-euro ($13 billion at the time) aid program from the IMF, the European Commission and the European Central Bank.
In exchange, the so-called troika of international creditors demanded the government undertake tough austerity measures and restructure the banking system, which was widely exposed to Greece’s debt.
Lagarde said she had received a letter from Harris Georgiades, the Cypriot finance minister, informing her of the government’s decision to cancel the loan arrangement, effective March 7.

“I wish to congratulate the people and the Government of Cyprus on their accomplishments under the economic adjustment program, which has delivered an impressive turnaround of the economy during the past three years,” Lagarde, the IMF managing director, said in a statement.
“The banking system is on a much more solid footing and workouts of nonperforming loans are accelerating, opening space for new productive lending,” she noted.
“The fiscal position has been restored to a sustainable path, and public debt is now firmly on a downward trajectory,” she added, pointing out the Eurozone country had regained access to international capital markets and successfully issued three Eurobonds during the past 21 months.

Link: https://news.yahoo.com/imf-hails-cyprus-decision-cut-short-bailout-program-211500429.html

Standard & Poor’s credit rating for Cyprus stands at B+. Moody’s rating for Cyprus sovereign debt is B3. Fitch’s credit rating for Cyprus is B-. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Cyprus thus having a big impact on the country’s borrowing costs.

Link: https://www.tradingeconomics.com/cyprus/rating

“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”

-Franklin D. Roosevelt