2022-2023 Cyprus Country Report
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CYPRUSCOUNTRY REPORT <strong>2022</strong><br />
DRIVING<br />
Roads are well maintained in and between the main towns, and there are four-lane<br />
motorways connecting Nicosia with Limassol and Larnaca. Driving is on the left<br />
in <strong>Cyprus</strong> and the maximum speed limit on motorways is 100 kph (60 mph). <strong>Cyprus</strong><br />
accepts the driving licences of all EU Member States and any person with a valid licence<br />
may drive legally in <strong>Cyprus</strong>. According to EU rulings, driving licences issued before 1996<br />
do not have to be exchanged for the new Community Model and remain valid until their<br />
expiration. Non-EU citizens may drive on valid foreign licences for a certain period (for<br />
those with a US licence the period is six months). Relevant Consular authorities can<br />
provide further information.<br />
BUSINESS HOURS<br />
Office hours are generally 8:30am-1:00pm and 2:00pm-5:30pm, though in summer<br />
some offices take a long lunch break or finish early. Government offices are<br />
generally open from 7:30am-2:30pm, from Mondays to Fridays and until 6pm on<br />
Thursdays. Banks typically open at 8:30am and close at 1:30pm. International banks<br />
are open from 8:30am to 5:30pm. Shops are generally open from Mondays to Saturdays<br />
from 9am-7pm, with larger supermarkets, malls and tourist areas open all day on<br />
Sundays as well.<br />
BUYING & RENTING PROPERTY<br />
C<br />
yprus offers a full range of properties for both commercial and residential use,<br />
situated in key locations across the island. While the exclusive, top-level market<br />
is currently the most sought after, the island has a good stock of properties available,<br />
from townhouses and apartments to villas and sea-side bungalows in five-star<br />
developments. Nicosia and Limassol are the main business centres. Office space<br />
is available in purpose-built office blocks, in converted houses or flats. A number of<br />
business centres also offer ready-to-move into serviced offices. They usually include<br />
fully-equipped offices that are available on demand with flexible terms, meeting rooms<br />
and a receptionist service. Overall, rentals are around two-thirds of those charged<br />
for comparable commercial spaces in continental Europe, and offices, retail or other<br />
commercial space is widely available for purchase or for rent.<br />
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