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Cyprus’ New Online Shopping Duty Generates Nearly €2 Million In Its First Month

by News Editor

August 4, 2026

Cyprus collected nearly €2 million in July after introducing a new €3 customs duty on low-value online purchases, highlighting the continued volume of cross-border e-commerce entering the country.

According to Customs Department spokesperson George Constantinou, authorities processed around 160,000 parcels containing approximately 650,000 chargeable items during the first month of the measure. Based on those figures, the new duty generated an estimated €1.95 million in revenue.

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Stronger-Than-Expected Start

The result exceeded initial expectations. Authorities had previously projected the measure would raise around €15 million annually, meaning July alone accounted for roughly 13% of that estimate. However, customs officials said it is still too early to conclude, noting that some shoppers may have placed orders in June before the duty took effect, while seasonal holiday spending may also have influenced July’s figures.

How The Charge Works

Introduced across the European Union on 1 July, the duty applies to consignments valued below €150 arriving directly from countries outside the bloc. Rather than charging each parcel once, the €3 fee applies to every customs category included in a shipment, meaning a parcel containing products from three categories would incur a €9 charge.

Looking Ahead

Customs officials said the rollout was completed without major operational issues, with only minor adjustments required during the first days of implementation. They also expect shoppers to adapt to the new system over time, while retailers may increasingly shift inventory to EU-based warehouses to avoid the charge on goods shipped directly from third countries.

The measure forms part of a broader European response to the rapid growth of low-value imports from platforms such as Temu, Shein and AliExpress. In 2025, EU customs authorities processed nearly 5.9 billion low-value items, representing almost 98% of all imported goods handled across the bloc.

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Cyprus Steps Up Efforts To Attract U.S. Tech Investment And Talent

by THEFUTURE.TEAM

November 9, 2026

Cyprus is preparing a renewed push to attract U.S. technology companies, investment and skilled professionals, with President Nikos Christodoulides expected to lead a delegation to the United States at the end of November 2026.

The visit will build on contacts made during the president’s April 2025 trip and focus on turning interest from the U.S. technology ecosystem into business partnerships, investment and opportunities for Cypriot professionals abroad. A central part of the effort is a New York event on Nov. 30, organized by the Presidency and Invest Cyprus under the “Minds in Cyprus – The Brain Gain Initiative.”

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The initiative is designed to connect Cypriots working in the United States with companies operating in Cyprus that are seeking specialized talent. It also reflects a wider economic challenge: attracting technology businesses is difficult if the country cannot provide enough experienced professionals to support their growth.

Building On Earlier U.S. Engagement

The upcoming mission follows a series of meetings in the United States in April 2025, when Christodoulides met representatives of major companies, including Nvidia, Amazon, Google, OpenAI, Tenstorrent and Plug and Play.

Since then, Plug and Play and Tenstorrent have opened offices in Cyprus. The engagement with Nvidia has also been significant, although the company has not established an office on the island. The collaboration contributed to the development of computing infrastructure and the installation and operation of Cyprus’s first operational supercomputer.

Contacts with other technology companies, including Amazon, Google, OpenAI, Oracle and Microsoft, have continued since the 2025 meetings. Interest appears to be ongoing: the president of Invest Cyprus recently said that two additional U.S. companies had approached the organization seeking information about establishing operations in the country.

Turning Business Contacts Into Investment

The government’s aim is to build on the momentum of the previous visit and convert engagement with U.S. businesses and technology leaders into concrete commercial outcomes. Christodoulides has said that meetings with Cypriot scientists and entrepreneurs in technology and innovation helped inspire Cyprus Catalyst, a network intended to connect Cypriot professionals in the United States with the country’s business community.

The network is designed to create channels for collaboration, investment and growth between Cyprus and the U.S. technology ecosystem. The president has emphasized that international outreach should lead to tangible partnerships and economic opportunities, rather than remain a series of diplomatic or business contacts.

Investment And The Brain-Gain Strategy

Attracting foreign companies is only one part of the government’s strategy. The other is encouraging Cypriot scientists and professionals living abroad to return, bringing skills and experience gained in international markets.

The two goals are closely linked. New technology companies create demand for specialized employees; returning professionals can help meet that demand. For Cyprus, the availability of skilled workers is also a factor in whether prospective investors decide to establish operations on the island.

The Nov. 30 event in New York will bring together Cypriot professionals working in the United States, entrepreneurs, corporate executives and members of the wider Cyprus-U.S. business community. Its purpose is to present the professional opportunities emerging in Cyprus and connect attendees with organizations seeking people with specific expertise.

What Participants Can Expect

According to the published program, attendees will be able to:

Learn about current and expected job openings in Cyprus and meet representatives of local businesses.
Take part in one-to-one matchmaking meetings with companies seeking professionals with specific skills and experience.
Hear about developments in the Cypriot economy, priority growth sectors, investment opportunities and the business environment.
Review the government’s Action Plan for the Repatriation of Talent and the options available to professionals considering a return.
Build professional connections with Cypriot scientists, entrepreneurs and members of the broader U.S.–Cyprus business community.

The mission’s broader test will be whether Cyprus can translate international interest into sustained investment—and pair that investment with the talent needed to support long-term growth.