The Central Bank of Cyprus (Greek: Kεντρικη Τραπεζα της Κυπρου, Turkish: Kıbrıs Merkez Bankasi) is the central bank of the Republic of Cyprus, located in Nicosia. It was established in 1963. Its governor is Christodoulos Christodoulou. Satellite photo of Nicosia, Cyprus For the Italian town, see Nicosia, Sicily Nicosia, in Turkish: LefkoÅŸa or Lefkosia (Greek: Λευκωσία , also colloquially Khora, ΧώÏα ), is the capital and largest city of Cyprus. ... 1963 (MCMLXIII) was a common year starting on Tuesday (the link is to a full 1963 calendar). ...
The bank issues Cypriot poundbanknotes and coins. ISO 4217 code: CYP Symbol: £ 1/100th unit: σεντ / sent Introduced in: 1879 Exchange Rates May 2006 USD exchange: 0. ... A £20 Ulster Bank banknote. ... A coin is usually a piece of hard material, generally metal and usually in the shape of a disc, which is issued by a government to be used as a form of money. ...
The granting of banking business licences, including ones for offshore banking, is the domain of the Controller of Banks who is the Governor of the CentralBank of Cyprus.
The CentralBank of Cyprus gives preference to applications received by existing foreign banks, for the establishment of branches as opposed to the local incorporation of new banking subsidiary or associated companies.
At present 21 banks have a banking business licence to operate on an offshore basis from within Cyprus (19 of which are in the form of a branch) and 3 foreign banks maintain a representative office in the Island.
Cyprus is a "divided island" insofar as the Turkish invasion of 1974 resulted in the "Republic of Cyprus" on the northern half which has not yet been recognized by the United Nations.
Cyprus is a party to the Hague Convention on the authentication of foreign documents.
Cyprus corporations which have income derived from outside of Cyprus are taxed on that income at the low rate of four-and-one-quarter percent (4.25%) on net profits, irrespective of where the management and operation of the corporation really takes place.
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