Αssociated Press reports from Nicosia that with the United Kingdom on the verge of leaving the European Union at the end of the year – negotiations linger – Cyprus will let some investment firms from there keep operating on the island through 2021.
The Cyprus Securities and Exchange Commission (CySEC) gave temporary permission while noting they would have to create a branch on the island to keep doing business or trade with other EU countries, said The Cyprus Mail.
CySEC noted there’s no deal yet in place about the cross-border provision of services after the so-called Brexit which means the UK will be considered a third country outside the 27-member state bloc.
There are now 52 UK firms providing services to Cyprus Investment Firms (“CIFs”) acting as their Liquidity Providers or otherwise and in total 86 CIFs have trading arrangements with UK firms, according to a statement.
Read more at thenationalherald.com
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: pixabay.com
