A well-established business that has built up an excellent reputation for its quality and benefits from a loyal customer base of regular clients, shoppers and tourists giving a year round income. Much of the business’s revenue is a result of passing trade or word of mouth recommendation, bearing strong testimony to the excellent reputation enjoyed by the business since its inception.

The business offers tremendous potential including the opportunity in franchising the current concept. Delivery service not set up so has real potential to boost turnover by achieving this.

The business has an attractive, clean and modern look from the outside and is fitted out to a high standard, both in terms of its visual appeal and also its machinery, equipment and fixtures and fittings.

Low rent and overheads with a secured renewable lease.

Proprietary and feature recipes of the concept and full training are included.

The business makes way for an exciting opportunity for the right enthusiastic new owner to acquire a turnkey business which will thrive going forward. We strongly recommend an early viewing of this business.

T/O: Available

Asking Price

€25,000 includes fixtures and fittings.

The Business offering

Want to learn more? Please contact us using the form below to receive additional information about owning this business.

Contact Form

* Your Name:

* Your Phone Number:

Your Email

Your Website

How should we contact you? Either By Phone By Email Do Not Contact Me

Your Message: I would like to receive more information.

* Your Country Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua And Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia And Herzegowina Botswana Bouvet Island Brazil British Indian Ocean Territory Brunei Darussalam Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos (Keeling) Islands Colombia Comoros Congo Cook Islands Costa Rica Cote D'Ivoire Croatia (Hrvatska) Cuba Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic East Timor Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Falkland Islands (Malvinas) Faroe Islands Fiji Finland France French Guiana French Polynesia French Southern Territories Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guinea Guinea-Bissau Guyana Haiti Heard And Mc Donald Islands Holy See (Vatican City State) Honduras Hong Kong Hungary Icel And India Indonesia Iran Iraq Ireland Israel Italy Jamaica Japan Jordan Kazakhstan Kenya Kiribati Korea, Dem People'S Republic Korea, Republic Of Kuwait Kyrgyzstan Lao People'S Dem Republic Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia, Federated States Moldova, Republic Of Monaco Mongolia Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands Netherlands Ant Illes New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island Northern Mariana Islands Norway Oman Pakistan Palau Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Reunion Romania Russian Federation Rwanda Saint K Itts And Nevis Saint Lucia Saint Vincent, The Grenadines Samoa San Marino Sao Tome And Principe Saudi Arabia Senegal Seychelles Sierra Leone Singapore Slovakia (Slovak Republic) Slovenia Solomon Islands Somalia South Africa South Georgia , S Sandwich Is. Spain Sri Lanka St. Helena St. Pierre And Miquelon Sudan Suriname Svalbard, Jan Mayen Islands Sw Aziland Sweden Switzerland Syrian Arab Republic Taiwan Tajikistan Tanzania, United Republic Of Thailand Togo Tokelau Tonga Trinidad And Tobago Tunisia Turkey Turkmenistan Turks And Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom United States United States Minor Is. Uruguay Uzbekistan Vanuatu Venezuela Viet Nam Virgin Islands (British) Virgin Islands (US) Wallis And Futuna Islands Western Sahara Yemen Yugoslavia Zaire Zambia Zimbabwe

How did you hear about us? Search Engine Newspaper Friend

* Type the numbers.

UCLan Cyprus will open in October this year and students will have the option of studying their programme entirely in Cyprus or transferring for part of their studies to the UK. They expect to have 5,000 students initially. All courses will be taught in English.

“UCLan Cyprus will add strength to Cyprus’ growing Higher Education sector and assist the Cyprus government in further establishing the island as an educational Centre of Excellence in the region and beyond,” said a statement from the university yesterday.

The University plans to establish a number of international research centres, and engage with local and international communities and industries.

Faculties will include business, law, computing and maths.

UCLan Cyprus is now accepting applications for the academic year 2012–2013, which will commence on October 2.

For more information contact the Admissions Office by email at:admissions@uclancyprus.ac.cy, or by phone at 24812121.

Prospective students can also visit the office building at 15 Stratigou Timayia, Linda Court, 1st Floor, 6051 Larnaca from Wednesday February 15.

A complete website will be established before the end of this month.

The University of Central Lancashire (UCLan) was established in 1828.

It is the seventh largest University in the UK with 35,000 students, and contributes £300 million annually to the regional economy of the North West of England. It has been voted the leading modern university in the North West of England for the last five years. It is also the first Modern University in the UK to be listed in the QS World Rankings in 2010.

The university’s Cypriot partners include George Hassapis and Floros Voniatis, Cypriot entrepreneurs in Larnaca. Shareholders of FG Lancashire Education Centre Ltd, member of Hassapis Group of Companies. Hassapis Group has been established since 1987.

Source

At a news conference yesterday, the municipalities of Paralimni, Ayia Napa, Sotira and Deryneia, in association with the Famagusta Chamber of Commerce (EVEA), presented their joint plan for a modern multi-purpose complex that would include among others a luxurious casino.

The plan, with initial estimated costs of over €100 million, is currently up for grabs as it has yet to find an investor.

The designers estimate that the proposed complex would need around 16,000 square metres of land, while architectural designs have envisaged it right on the beachside.

The municipalities said that the site where the casino would be built would also depend on the investors, but stressed that the municipality chosen to host the complex should have a say in the plan’s final design.

“Regardless of where the plan will finally be built, all involving communities should reap the plan’s financial benefits” the EVEA statement said.

In a notable U-turn from previous government policy, the government announced last October that it was considering the possibility of allowing the operation of casinos on the island.

Since then, the old airport terminal in Larnaca and the site of the Qatari hotel complex investment in Nicosia have both been touted as possible sites for setting up casinos.

With hoteliers, the Cyprus Tourism Organisation (CTO) and political parties endorsing the concept of casinos in Cyprus, EVEA chairman, Giorgos Michaelides said that the plan would upgrade and differentiate the “outdated model of tourism that we have in the area now.”

The ambitious plan is set to incorporate a top-notch casino, a state of the art space-themed amusement room for children, and a multimedia area where a virtual reality system will be dedicated to the history of Cyprus and the island’s underwater environment.

A hotel, conference area, 1,000-seat amphitheatre and several golf courses could also be possible features of the complex, depending on the preferences of possible investors.

All participating officials said that the casino was the focal point of the project and expressed their belief that this undertaking would substantially help Cyprus move out of the financial crisis.

Whether the project will go through any time soon is uncertain as the licensing of casinos has yet to be discussed thoroughly in parliament, while the necessary legislation has still not been drafted.

Source

Presenting the results of the new system yesterday, Interior Minister Neoclis Sylikiotis said he was pleased with the progress made since the new laws were past last spring and reminded the public to keep in mind the deadlines for submitting forms.

The minister warned that they have until April 7 to apply to have any discrepancies legalised. No corrections can be made after that date.

One of the laws allowed members of public to apply to have discrepancies on their buildings legalised, so that they can pay a levy (depending on the discrepancy) and then receive their title deeds.

“The deadline for submitting declarations of intention is April 7, 2012,” said Sylikiotis. “After this date, no discrepancy can be legalised.”

He added that legal measures would be taken after that. “Whoever has a discrepancy and doesn’t make a declaration of intention, they will be forced to either demolish the construction or fix the discrepancy,” said Sylikiotis. “The declaration costs nothing.”

Once the declaration of intention is made, an application for final approval to have title deeds issued is submitted.

With the new laws, members of public are offered a discount on the fees they have to pay once these applications are approved.

“Specifically, if interested parties apply within the first year of the town-planning amnesty’s implementation – meaning until April 7, 2012 – they will receive a 20 per cent discount on the real value that would have to be paid to legalise any discrepancies with their constructions,” said Sylikiotis.

If the application is made by April 7, 2013, the discount reduces to 10 per cent. The public can still apply until April 2014; however, they won’t be entitled to any discounts.

Since the new laws were passed, the Land Registry Office received 1,058 certificates for approval of registration for around 1,778 housing units.

For those, 36 title deeds have already been issued.

“In the next few days, Larnaca’s Land Registry is expected to issue another 130 updated deeds, for a big housing development,” said Sylikiotis.

Furthermore, 7,798 declarations of intention have been submitted for new updated title deeds.

“All the applicants have received a letter with the number they should use to submit their application to the relevant authorities to secure amnesty and have their titles issued,” Sylikiotis explained. Ten district committees are currently operating – two per district, as opposed to one for the whole island as was the case before – and they are examining cases that were sent by the relevant authorities.

“Introducing the town-planning amnesty, I had explained that the basic motives for this policy was to protect the rights of thousands of buyers who remained for many years – and would still have remained – entrapped without title deeds,” said Sylikiotis.

The government also aimed, he added, “at restoring Cyprus’ property market’s reputation abroad, which was adversely affected by the outdated and ineffective checking system, licensing and issuing of title deeds that we had in Cyprus for decades, but also the way the whole system was managed by many businessmen”.

Addressing the Russia-Cyprus Business and Investment Forum in Limassol yesterday, the Russian ambassador said in the last 20 years, “the gross investment volume between our countries reached one hundred billion dollars and this is a very impressive figure”, adding, “Trade and economic volume cooperation for the last year reached about $1.3 billion”.

“In trade and economic cooperation, we have reached the pre-crisis level…We have managed within a short period of time to overcome economic and financial difficulties and we have good potentials,” said Shumskiy.

Finance Minister Kikis Kazamias said it was “a fact that Russia is one of the most important economic partners of Cyprus, in areas such as foreign investment, finance, trade and tourism”.

In his speech, read out by Manthos Mavromatis, Kazamias “urged” international investors, including Russian companies, “to invest in sectors with particularly positive prospects, such as the energy sector, telecommunications and public infrastructure projects”.

Also speaking at the Forum, President Demetris Christofias said Cyprus was a “safe and reliable partner” for Russian businesses looking to implement their international strategic plans “in a period of political instability and uncertainty” for the region.

He noted that foreign direct investment into Cyprus from Russia has exponentially increased in recent years, showing that Cyprus is an international business hub for Russian business people.

The left-wing president who studied as a youth in Russia, noted: “Cyprus has a market-oriented economy and is a wealth of untapped opportunities for Russian investors.

“Its geographical location, tax benefits and strong service-provider infrastructure, transform Cyprus into the gateway for Europe” while providing “an excellent platform for conducting and managing business activities from Russia to Europe and vice-versa”.

Christofias said Russia’s economy has traditionally played a significant role on the island, “acting as a catalyst of growth for the Cyprus economy”.

He thanked President Dmitry Medvedev’s “personal contribution” to making the two countries’ “very strong and historical ties” mutually beneficial in political, economic and business relations.

Christofias highlighted that the Forum provided an “excellent opportunity” to strengthen relations with Russia, making specific reference to potential investment in the energy sector, following from the recent gas finds in Cyprus’ exclusive economic zone (EEZ).

“Naturally, we are expecting that Russian companies focusing on energy, today, will show interest in examining the investment opportunities now present in this sector in Cyprus,” said Christofias.

The government is due to invite bids on Monday for a second round of licencing for the remaining 12 blocks in its EEZ, after US-based Noble Energy announced gas reserves of between five and eight trillion cubic feet in Block 12’s Aphrodite field last December.

Vice-president of the Russian Chamber of Commerce and Industry Georgy Petrov said 2011 was the year of economic revival for Russia, with GDP growth of 4.5 per cent,  adding that 2012 will be “even more successful”.

“We have plans to turn Moscow into an international financial centre and the experience of Cyprus in this area is valuable,” he said.

Petrov called for the ratification of the double taxation protocol signed between Christofias and Medvedev during the latter’s visit to Cyprus in 2010.

Chairman of the Russia-Cyprus Council and CEO of the Bank of Moscow Mikhail Kuzovlev said Russian investors choose Cyprus’ financial services providers based on “reputation, trust and transparency” among other things.

EU membership has imposed additional requirements on Cyprus to ensure compliance with European standards for the enforcement of anti-money-laundering, prevention of fraud and tax-evasion regulations, he added.

However, he noted, these efforts are “impeded by fraudulent schemes set up by foreign individuals who abuse the trust, reputation and credibility of Cyprus as a financial centre by involving Cypriot companies, banks and citizens in their wrongdoings”.

Referring to the bad loans, he said “loans in excess of $2 billion were issued to the 52 Cypriot companies serviced by the same provider and auditor”, adding, “The inconsistency of the borrowers’ business to the size of loans, lack of collateral and failure to observe covenants set forth in the loan agreements collectively indicate that the loans were not intended for re-payment”.

Kuzovlev highlighted the need to take measures to address the issue, noting: “This situation has become possible despite Cyprus’ sophisticated and well-regulated environment.”

Source

Fitch announced it maintained Marfin`s programme one bonds to rating watch negative (RWN), while it removed Marfin programme two bonds from RWN. The agency also announced it maintained Bank of Cyprus` covered bonds under RWN.

According to Fitch, the outstanding Cypriot covered bonds represent €4.2 billion of Fitch-rated debt on aggregate, including €2 billion of bonds issued by Marfin under Programme I (Greek mortgage pool), €1.5 bilion of covered bonds issued by Marfin under Programme II (Cypriot mortgage pool) and €700m of covered bonds issued by BoC (Greek mortgage pool).

The rating actions follow the downgrade of Cyprus` sovereign rating to `BBB-/ Negative` from `BBB/RWN` on 27 January 2012, and the subsequent downgrades of Marfin and BoC`s` Long-Term Issuer Default Ratings (IDR) to `BB+/Negative` on 2 February 2012.

Source

“We hope to have over 400,000 tourists from Russia in 2012,” CTO head Alecos Orountiotis said at a news conference.

Last year over 330,000 Russian tourists visited Cyprus, over 100,000 more than the year before when about 224,000 came and about 230,000 more from 2005 when 97,000 Russian people visited.

Seven new airports in the Russian Federation will now be offering flights from Perm, Arkhangelsk, Kemerovo, Tyumen, Chelyabinsk, Omsk and Nizhny Novgorod.

There are already flights from nine other airports in the Russian Federation: Moscow, Saint Petersburg, Yekaterinburg, Ufa, Rostov, Novosibirsk, Kazan, Krasnoyarsk and Samara.

The 16 cities are located on both European Russia and Asian Russia’s West Siberian plain.

Some cities are among the most populous in the Russian Federation and many are administrative centres in their region.

“The Russian market is a major priority for us,” Orountiotis said.

A CTO representation went over to Moscow and Saint Petersburg earlier this month and held meetings with major tourist agents, Orountiotis said adding that indications were “encouraging”.

Russian investments in Cyprus in 2010 were worth €2.7 billion, 12 per cent of the island’s GDP, according to economists at the fourth Cyprus Economist Summit last March.

Economists said at the summit that tourism brought in €221 million annually and was expected to rise.

The government has secured a €2.5 billion loan from Russia to cover its financing requirements for this year receiving two instalments in December and January with the final €590 million tranche expected in March.

The Russian market brings in the second largest number of tourists after the UK and has “grown by leaps and bounds” over the past few years, Orountiotis said.

Source

Danish Minister for Economic Affairs and the Interior, Margrethe Vestager said that Cyprus, Belgium, Malta and Poland have complied with the new rules of the game, applied to reduce their budget deficits.

However Hungary was not among the countries that have made sufficient efforts.

On the Minister’s first day chairing ECOFIN, she presented the Danish Presidency’s priorities in ECOFIN over the coming six months.

At today’s meeting EU Ministers of economics and finance used the new rules of the game for sound economic policies for the first time when they followed up on the country-specific recommendations regarding excessive deficits.

She told ECOFIN that “implementation is a key word for the Danish Presidency. It is time to implement the good decisions that have already been taken and to show the citizens and the markets that the decisions taken will be realized. Today, we applied the new rules of the game when we assessed whether Belgium, Cyprus, Malta, Hungary and Poland have complied with their recommendations to reduce their budget deficits. The assessment for all countries, except Hungary, was that they have made sufficient efforts to comply with their recommendations. This is a sign that the new rules of the game are working as intended”.

Under the headline of “the European Semester, the Annual Growth Survey for 2012 and the EuroPlus Pact”, the Ministers discussed how to consolidate their public finances and at the same time promote growth. Today’s debate will form the basis for Council conclusions to be adopted at the ECOFIN meeting 21 February and the Council conclusions are to serve as an input for the Heads of State economic summit 1-2 March.

Vestager said she was pleased with today’s debate, noting there was consensus that consolidation of public finances is necessary but not a sufficient condition to bring Europe out of the crisis.

The Council agreed on stricter rules for regulation of trade with financial derivatives which played a role in the financial crisis. Negotiations on the dossiers are now to be finalized with the European Parliament.

In his intervention during Monday’s deliberations, Cypriot Finance Minister Kikis Kazamias presented the measures which Cyprus had taken to decrease the budgetary deficit by 3,5% in 2012, compared to 2011.

Amid the continuing financial crisis and the weak growth of the Cypriot economy, projected at a mere 0.2% GDP in 2012, the government introduced a series of austerity measures that would enable Cyprus to meet its medium term commitments to the EU and particularly for a budget deficit of 2.8 GDP in 2012 and a zero deficit by 2014.

On August 27, 2011 the Parliament approved the first fiscal consolidation package with a fiscal impact of 1% GDP or 180 million EUR, while a bill for the increase of VAT rate to 17% from 15%, which would yield an additional 140 million euro to the state coffers, is pending for approval.

The Cabinet also approved a second fiscal consolidation package, incorporated in the 2012 state budget, which would reduce the budget deficit below the 3 per cent Euro area benchmark (2.8%) in 2012. The package provides for the abolition of 939 vacant positions in the public sector, a 10% reduction of the starting salary of civil servants, the introduction of income criteria for the better targeting of welfare spending such as child allowance and student allowance (100 million EUR).

On November 18, 2011 the Finance Minister introduced a third fiscal consolidation package aiming at restoring Cyprus’ credibility in the international markets. The package provides for the freezing of salary increases in the public sector (including COLA) for two years, with a yield of 355 million EUR, a scaled contribution of high earners in the private sector and the introduction of a 0.5% levy on the turnover

Source

Antoniadou was accompanied by a sixty-member delegation of the Cyprus Chamber of Commerce and Industry (CCCI) comprising businesspeople from various Cypriot sectors for contacts with their Israeli counterparts.

”This was one of the most successful delegations ever made by the Chamber,” CCCI President Phedias Pelides told CNA.

He added that the forum, co-organised by the Cypriot Ministry, the CCCI and the Israeli Chamber was successful as the hall in which the forum was held was packed with the presence of 200 persons.

”What’s more important is the addresses were followed by business contacts of Cypriot and Israeli businesspeople,” Pelides noted and went on: ”the general consensus is that (the visit) was on the most successful missions by CCCI ever.”

Responding to a question, Pelides said it is hard to assess what has been achieved from a practical point of view, as the scope of the contacts was broad.

The relations between Cyprus and Israel acquired increased momentum following a rupture between the relations of Jerusalem with Ankara, as well as the natural gas deposits discovered in the Exclusive Economic Zones of the two countries. Cyprus and Israel signed a delineation agreement on December 17 2010.

”The sign point to a huge momentum in the business relations between Cyprus and Israel due to the issue of hydrocarbons but also due to the huge improvement in the relations between the two countries,” he concluded.

Source

Cyprus ranks 12th in the preferences of British tourists when choosing a special interest tourism destination and 16th in the preferences of German tourists.

Moreover, the surveys reveal that British and German tourists who visit Cyprus are satisfied with their stay, the great majority of them stating that they will chose Cyprus again as a holiday destination.

However, perceptions in general within the public and tourist operators in the two countries are somewhat different, with many considering Cyprus an expensive destination, which suffers from insufficient infrastructure and does not offer a unique experience.

64% of German tourists and 63% of British tourists asked consider the Cyprus tourist product to be synonymous with “sun and sea” holidays.

Addressing the event Deputy Head Director of Tourism Annita Demetriades said that “the development of alternative forms of tourism contributes greatly to shaping a fully fledged image of Cyprus as a tourist destination”.

She added that “special interests contribute in a positive way to achieving the main goals of the tourist strategy in relation to dealing with seasonality problems; increasing holiday demand towards Cyprus and enhancing arrivals in out of season periods, as well as increasing visitors per capita spending”.

According to Demetriades, the surveys show that special interest market share is approximately 8% in the UK and 10% in Germany.

However, she noted, due to the fact that tourism is a multifaceted social phenomenon the percentage of British and German tourists who combine the classic beach resort holiday experience enriched with other elements is estimated to be about 25% for the UK and 30% for Germany.

The surveys were conducted as part of an EU co-financed project and included the preparation of a three year strategic marketing plan to better promote Cyprus’ special interest tourist product.

Source