When rules change, it’s never just about the rules

By Alexandros Neofytou

Whenever a new legislation is introduced, it is easy to assume that everything in business will suddenly change. In Cyprus, the first months of this year have brought two significant developments: a tax reform that came into force in January and new foreign direct investment legislation that began applying in April.

At first glance, these may appear to be technical updates, but the bigger story is about