Breaking news

Government Submits Bill To Parliament On US Visa Waiver Conditions For Cypriots

The Cyprus government has submitted a bill to the House of Representatives plenary, aiming at meeting the necessary preconditions for the Republic of Cyprus to join the United States Visa Waiver Programme.

The bill which was approved by the Cabinet on 19 June, authorised the Minister of Justice and Public Order to present it to the House of Representatives for enactment.

The primary objective of this bill is to ratify the agreement, following Article 169.2 of the Constitution, between Cyprus and the US governments on travel information cooperation. This agreement was signed in Washington D.C., on June 17, 2024.

The agreement establishes a framework for cooperation between the two countries in evaluating, reviewing, and exchanging travel information. It also aims to develop risk assessments to identify specific individuals travelling internationally, who may pose a security threat to either of the involved nations.

At present, Cyprus, Romania, and Bulgaria are the only EU member states whose nationals still need a visa to enter the US.

Digital Transactions: A Green Approach To Finance In Cyprus

As Cyprus increasingly embraces digital transactions, the environmental benefits of this shift are becoming evident. A recent report highlights that digital payments significantly reduce the carbon footprint associated with traditional banking operations. By decreasing the reliance on physical branches, paper-based processes, and the transportation of cash, digital transactions are contributing to a more sustainable financial ecosystem. This transition is in line with global initiatives to combat climate change and underscores Cyprus’ commitment to promoting a cleaner, more efficient financial landscape.

Digital transactions are not only more convenient and efficient but also significantly less resource-intensive. Traditional banking often involves extensive paperwork, the use of physical infrastructure, and the transportation of money, all of which contribute to higher carbon emissions. In contrast, digital transactions streamline these processes, resulting in lower energy consumption and reduced waste.

The environmental advantages of digital transactions are complemented by their economic benefits. By lowering operational costs and enhancing transaction speed and security, digital payments provide a compelling case for broader adoption. This shift supports sustainable development goals and aligns with the global push towards greener, more resilient economies.

Furthermore, the widespread adoption of digital transactions in Cyprus is expected to drive innovation within the financial sector. With the integration of advanced technologies such as blockchain and artificial intelligence, the digital financial landscape is set to become even more efficient and secure. These innovations not only enhance user experience but also contribute to environmental sustainability by further reducing the need for physical resources.

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter