Cypriot Passport Ranks 13th Globally for Travel Freedom

by THEFUTURE.TEAM

August 1, 2024

The Cypriot passport has achieved an impressive 13th position in the global ranking for travel freedom, according to the latest report by Henley & Partners, an esteemed firm specialising in global citizenship and residence advisory. This notable ranking reflects the strength and versatility of the Cypriot passport, granting its holders extensive travel privileges worldwide.

The Henley Passport Index, which assesses the travel access provided by different nations’ passports, has placed Cyprus in this prestigious position based on the number of destinations its citizens can visit without a prior visa. As of the latest update, Cypriot passport holders enjoy visa-free or visa-on-arrival access to 178 countries and territories, underscoring the significant mobility and convenience afforded by Cypriot citizenship.

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This achievement is a testament to Cyprus’s robust diplomatic relationships and its standing within the international community. The country’s EU membership plays a pivotal role in this high ranking, facilitating visa-free travel across the Schengen Area and numerous other countries. Additionally, Cyprus’s bilateral agreements and participation in various international organisations further enhance its passport’s global reach.

The high ranking of the Cypriot passport is particularly advantageous for business professionals, frequent travellers, and those seeking international opportunities. It enables seamless travel for business, tourism, and personal purposes, reducing the administrative burden and costs associated with visa applications. This ease of travel is a significant asset for Cypriots, fostering greater global mobility and connectivity.

Moreover, the strength of the Cypriot passport contributes positively to the country’s attractiveness as a destination for foreign investors and expatriates. The ability to travel freely to a wide array of countries is a compelling factor for individuals considering Cyprus as a base for business or residence. This aspect enhances the island’s reputation as a favourable location for international business operations and high-net-worth individuals seeking global mobility.

The rise of the Cypriot passport in the Henley Passport Index also reflects the ongoing efforts by the Cypriot government to bolster its international ties and enhance the nation’s global standing. Diplomatic initiatives, economic agreements, and collaborative efforts with other countries have played a crucial role in expanding the travel freedoms enjoyed by Cypriot citizens.

In addition to the practical benefits, the ranking is a source of national pride, highlighting Cyprus’s successful navigation of global diplomatic and economic landscapes. It underscores the island’s commitment to maintaining strong international relations and ensuring that its citizens can enjoy the benefits of extensive travel access.

Despite its high ranking, the Cypriot government continues to work towards further enhancing the passport’s strength. Ongoing negotiations and efforts to establish new visa-waiver agreements aim to expand the list of accessible destinations, ensuring that Cypriot passport holders can enjoy even greater travel freedoms in the future.

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Capital Deployment Emerges As Key Growth Driver For Greek Banks

by THEFUTURE.TEAM

August 31, 2026

UBS highlighted Eurobank and Alpha Bank in a report shared by Greek business outlet Newmoney, as investors increasingly focus on the lenders’ regional footprints, including Cyprus. Greek banks remain among the clearest beneficiaries of the country’s economic recovery, while more disciplined capital deployment could create further value for shareholders.

Despite recovering from lows during the Middle East crisis, Greek banks continue to trade at a discount to European peers. UBS sees potential for a rerating as lenders combine selective acquisitions with higher shareholder distributions.

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Strong Fundamentals Support The Outlook

UBS expects performing corporate lending to grow about 8% annually between 2025 and 2028, while net interest margins are believed to have reached their low point. Improving net interest income and fee income should support earnings, while non-performing exposures and the cost of risk have fallen more than expected.

Greece is also expected to sustain GDP growth of roughly 2% annually, supported by investment backed by the EU’s Recovery and Resilience Facility. The country has received around €25 billion of the €36 billion available, while UBS forecasts a primary surplus of up to 3.5% of GDP in 2025 and public debt falling to 138% of GDP in 2026 and 133% in 2027.

Eurobank And Alpha Bank Stand Out In Cyprus

Eurobank drew particular attention following its acquisition of Hellenic Bank in 2025, which expanded its presence in Cyprus. UBS sees further growth potential across south-eastern Europe and considers the Hellenic Bank and Eurolife acquisitions positive for profitability and return on tangible equity.

Eurobank received a buy rating and a €5.10 price target, implying 11.7% upside. Alpha Bank also received a buy recommendation, with a €4.90 target implying 8.7% upside, supported by improving profitability, value-enhancing acquisitions and its share buyback program.

Piraeus And National Bank Offer Further Upside

Piraeus Bank was UBS’s top pick, with a buy rating and a €12 price target implying 18.8% upside. The bank cited long-term growth prospects, improving return on tangible equity and the expected acquisition of National Insurance, which would expand its financial services and bancassurance platform.

National Bank of Greece received a buy recommendation and an €18.70 target, implying 12.7% upside. UBS cited its profitability, capital position and credit quality, while its agreement with Allianz could provide further support to earnings and return on tangible equity.

Capital Discipline To Shape The Next Phase

UBS expects stronger lending, fee income, lower credit risks and continued economic growth to support Greek banks. However, the report argues that capital allocation will increasingly determine performance as lenders move beyond balance-sheet expansion.

For Eurobank and Alpha Bank, regional expansion, acquisitions, improving profitability and shareholder returns are expected to drive the next phase, while UBS sees further upside across the sector as lending and capital distributions strengthen.

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