We would like to inform you that the EU-Japan Centre for Industrial Cooperation is offering tailored industry market reports to companies interested in entering the Japanese market.
Funded by the European Union, the EU-Japan Centre aims to strengthen EU and Japan cooperation and is managing various programmes to support EU SMEs in their internationalization process toward Japan.
Doing business in Japan requires careful preparation and costly market research before accessing the local market but can be rewarding in the long-term.
“Market Research by Vulcanus in Japan*” is a new tool by the EU-Japan Centre offering the opportunity to EU SMEs to receive tailored industry market reports to better understand the Japanese market structure and drivers for future potential growth for a specific product/technology/service.
This support targets SMEs active in below sectors and aiming to access the Japanese market in the near future or already operating in the country:

• Artificial Intelligence/Data analysis/Machine learning applications
• Biotechnologies / Environmental Biotech
• Cybersecurity / Quantum Tech / Blockchain technology
• Nanotechnology / nanoelectronics
• Nuclear Engineering
• Robotics

Application deadline: 21 August 2024
The report will be prepared from October 2024 for a delivery around Feb-March 2025. The service is free of charge.

(*) Vulcanus in Japan participants are European students in engineering and other technical/scientific fields, with strong credentials, who have been selected by the EU-Japan Centre to do a six-months industrial internship in Japan, in compliance with the aim of the programme: nurture young people who will lead the future of the Japanese and European economies.

For more information about the mission and to apply HERE.

PDF Circular – Tailored market research report on Japan

Following previous announcements by both the Department of the Registrar of Companies and the CCCI, please be informed that, according to an announcement by the Registrar of Companies (attached), the Department wishes to draw the attention of companies incorporated or registered under the Companies Law, Cap. 113, to European Public Limited Companies (SE), and to partnerships or their officials/partners who have not yet updated the Register of Beneficial Owners (RBO), to promptly take the necessary actions to update it. Failure or delay in updating the register will result in financial penalties as stipulated/defined in Directive K.D.P. 112/2021, as amended and in force.

The details concerning the Beneficial Owners of the companies who are the natural persons who ultimately own or control the companies, and this specific obligation is provided by the European Council’s Anti-Money Laundering Directive.

According to the law, if a company has not complied within the stipulated time, it (and its directors and secretary, on a personal level) is subject to a financial penalty of €200 on the first day, and €100 for each subsequent day of continued non-compliance, with a maximum total penalty of €20,000 per beneficial owner.

In cases where you encounter any technical issues in submitting your application, it is recommended to contact the Department of IT and Technical Support at: kpanayi@drcor.meci.gov.cy mmenelaou@drcor.meci.gov.cy, aprodromou@drcor.meci.gov.cy for investigation of the matter, providing all the evidence you have at your disposal.

We also remind you that, regardless of any changes in the company’s officials during a year, as a company you have the obligation to confirm the Beneficial Owners of the Company annually, between the dates 1/10/… – 31/12/…. 

PDF Circular – Reminder for updating the Register of Beneficial Owners based on new information.

Following our circular dated July 26, 2024, on the necessity of the Green Transition in Cypriot Businesses, we inform you that the Department of Environment, aiming for further supporting of businesses in adopting sustainable practices, is once again extending the application deadline for the “Grant Scheme for Encouraging the Reduction of Greenhouse Gas Emissions in Businesses.”
The new deadline is set for Monday, September 30, 2024, or until the available budget of €5,000,000 is exhausted (whichever comes first).
Eligible applicants are large and small businesses (SMEs) that meet the eligibility criteria. The maximum grant amounts and support rates are as follows:

(a) Large Businesses: 60% up to €18,500
(b) Medium Businesses: 70% up to €15,500
(c) Very Small/Small Businesses: 80% up to €11,500

Interested parties are advised to carefully review the Scheme’s Implementation Guide, the application form, as well as all announcements posted on the Department of Environment’s website, at the following electronic links:
Greenhouse Gas Emission Reduction (moa.gov.cy)
Scheme Forms

Questions and clarifications can be submitted via email to: supportscheme@environment.moa.gov.cy

PDF Circular – Grants Scheme for Encouraging Reduction of Greenhouse Gas Emissions in Businesses

The Cyprus Chamber of Commerce and Industry would like to inform you that the inaugural edition of the “CII India Mediterranean Business Conclave 2024”, will take place in the city of New Delhi, between the 6th and 7th September 2024. The objective of the Conclave is to deliberate on the need for strategic integration of better trade and economic prospects as well as an open and facilitative environment to encourage business.

To this end, we extend a cordial invitation to any interested companies to join the “CII India Mediterranean Business Conclave 2024”. Your participation would not only underscore the importance of fostering international relations but also provide a platform for meaningful exchanges, advocacy, and networking opportunities.

For more information you can contact the International Relations & Economic Diplomacy Department of the CCCI: Tel. 22 889718 / 22 889706 Email: stavri@ccci.rog.cy / lily@ccci.org.cy or click on the following link: https://ciiindiamediterraneanconclave.com/

PDF Circular – Publication of European Standards – CEN & CENELEC