COVID-19 UPDATE : Decoding how International Business in Cyprus is potentially affected pursuant to the Presidential Address of 13.03.2020 and the Extraordinary Meeting of the Council of Ministers 15.03.2020 On Wednesday 11.03.2020 the World Health Organisation (“WHO”) classified the coronavirus as a pandemic, highlighting the uncontrolled spread of the virus and the need for stricter measures.
On Friday 13.03.2020 at 18:00, the WHO announced that Europe is the epicentre of the pandemic. Measures that may affect International Business in Cyprus announced by the President of the Republic in his address of 13.03.2020 at 20:30: From 01:00 of 15.03.2020 and for a period of 15 days in the first phase, the prohibition of entry to any citizen, regardless of nationality, who does not fall into the following categories:
•Cypriot citizens.
•Legal residents in the Republic of Cyprus (the “Republic”).
•EU nationals or third-country nationals working in the Republic.
•Nationals of countries who are in a designated diplomatic service or mission under bilateral or international conventions signed by the Republic. •Individual cases of European nationals or third-country nationals for unavoidable professional obligations, provided that the relevant authorisation has been obtained from the Ministry of Interior.
•European or third country citizens attending educational institutions in the Republic of Cyprus.
Statement by the President of the Republic Mr. Nicos Anastasiades following the extraordinary meeting of the Council of Ministers 15.03.2020:
1.Entry into the Republic of Cyprus of those persons mentioned above 13.03.2020, will only be granted to those who, upon their arrival, submit a medical certificate that they have been tested for coronavirus by certified medical centres from their country of origin. Those who fulfil these conditions will be placed under a 14-day compulsory quarantine at accommodation facilities designated by the Republic of Cyprus, not house quarantine.
2.To suspend the operations of businesses of the private sector, unless the sanitary rules implemented by the Ministry of Health are strictly followed, these rules, inter alia, stipulate that business premises must provide 8sqm for each staff member respectively. This decision entered into force at 18:00 on 16.03.2020 and shall apply until 30.04.2020.
It should be noted that, in particular, the provisions under point 2 may affect the functioning of both governmental and private services which international businesses ordinarily rely on, including the Registrar of Companies, banks, the tax department and other service providers that do not meet the strict sanitary regulations of the Republic.
For more updates on COVID-19 developments that may affect International Business in Cyprus please CLICK HERE.
John Joannides & Co LLC
