#

Ease of Doing Business in

Cyprus

Cyprus Download Profile (1731.5KB, pdf)
Region Europe & Central Asia
Income Category High income
Population 1,165,300
GNI Per Capita (US$) 25,930
City covered Nicosia

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 45 41 down
4
72.65 72.48 down
0.17
Starting a Business 53 60 up
7
91.21 89.19 up
2.02
Dealing with Construction Permits 125 122 down
3
64.01 63.95 up
0.06
Getting Electricity 63 68 up
5
78.33 75.18 up
3.15
Registering Property 91 89 down
2
63.43 63.39 up
0.04
Getting Credit 62 42 down
20
60.00 65.00 down
5.00
Protecting Minority Investors 27 25 down
2
66.67 66.67
-
Paying Taxes 34 36 up
2
84.45 83.74 up
0.71
Trading across Borders 45 45
-
88.44 88.44
-
Enforcing Contracts 139 139
-
48.59 48.59
-
Resolving Insolvency 16 16
-
81.38 80.60 up
0.78

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

DB 2017 Rank:

63

DB 2016 Rank:

68

Change in Rank:

up5

DB 2017 DTF (% points):

78.33

DB 2016 DTF (% points):

75.18

Change in DTF (% points):

up3.15

STANDARDIZED CONNECTION
Price of electricity (US cents per kWh) 18.7
Name of utility Electricity Authority of Cyprus (EAC)
City Nicosia
Indicator Cyprus Europe & Central Asia OECD high income
Procedures (number) info_outline 5 5.6 4.8
Time (days) info_outline 137 112.3 76.2
Cost (% of income per capita) info_outline 130.4 375.5 62.5
Reliability of supply and transparency of tariff index (0-8) info_outline 8 5.2 7.5
  • Measure of efficiency
    No. Procedure Time to Complete Associated Costs
    1

    Submit application for electricity connection and await estimate

    Agency: Electric Authority of Cyprus

    The customer can apply either in person (at any customer service location) or by email. The forms for the application are available on-line. Most of the applicants download the form on-line and apply in person since they can get a follow-up number. In the application, the customer needs to provide contact information, description of the location of the premise (land plot number), and provide a copy of the title deed or lease agreement. The customer will also need to explain the load requirements and justify the need for the requested load. Finally, they have to provide an expected time of connection. Usually, the customer applies for the connection just before starting the construction of the building since the process can take some time.

    50 calendar days EUR 27,000
    * 2

    Await external inspection by Electric Authority of Cyprus

    Agency: Electric Authority of Cyprus

    An inspector from the Electric Authority of Cyprus visits the premises in order to assess the connection costs and prepares an estimate. Someone from the applicant’s party is usually present during the inspection. After the external inspection by the utility, the inspector will prepare the “quotation of terms” (estimate). Before sharing the estimate cost with the customer, the Electric Authority of Cyprus submits the application for clearance and approval to several government authorities including: telecom, sewerage, public works, municipality, archeological department and fire brigade. At this point the utility also obtains an excavation permit. After all these clearances are received, the utility will notify the client and provide him with the estimate.

    The estimate of the connection fees can be paid at any customer service of the utility.

    21 calendar days EUR 0
    3

    Await completion of external works, meter installation and final connection

    Agency: Electric Authority of Cyprus

    After the estimate is issued and before the actual connection works can start the Electric Authority of Cyprus arranges/prepares for the works. After the preparation and arrangement stage is over the Electric Authority of Cyprus completes the external connection works.

    60 calendar days EUR 0
    4

    Sign supply contract with Electric Authority of Cyprus

    Agency: Electric Authority of Cyprus

    The customer can schedule to sign the contract for electricity supply just before electricity is turned on. He needs to give 1 week notice and the contract is signed in 1 day.

    1 calendar day EUR 92.21
    5

    Request and receive inspection of internal wiring and external works

    Agency: Electric Authority of Cyprus

    An applicant can request an internal wiring inspection at any customer service of the utility.

    Inspectors from the utility evaluate compliance of the internal wiring with safety regulations. After the inspection, the inspector issues a certificate of compliance. During the inspection, the certified in-house electrician should be present. Typically, insurance companies in Cyprus will ask for a copy of this certificate before insuring any building.

    The electrician who did the internal wiring submits a signed notification to the utility upon completion in which they guarantee it has been carried out according to the regulations. During the inspection the utility also does tests of the installed external installation. The meter is installed at this point.

    26 calendar days EUR 0

    * Takes place simultaneously with previous procedure.

  • Measure of quality
    Answer
    Reliability of supply and transparency of tariff index (0-8)
    Total duration and frequency of outages per customer a year (0-3)
    System average interruption duration index (SAIDI) 0.55
    System average interruption frequency index (SAIFI) 0.22
    Mechanisms for monitoring outages (0-1)
    Does the distribution utility use automated tools to monitor outages? Yes
    Mechanisms for restoring service (0-1)
    Does the distribution utility use automated tools to restore service? Yes
    Regulatory monitoring (0-1)
    Does a regulator—that is, an entity separate from the utility—monitor the utility’s performance on reliability of supply? Yes
    Financial deterrents aimed at limiting outages (0-1)
    Does the utility either pay compensation to customers or face fines by the regulator (or both) if outages exceed a certain cap? Yes
    Communication of tariffs and tariff changes (0-1)
    Are effective tariffs available online? Yes
    Link to the website, if available online https://www.eac.com.cy/EN/CustomerService/Tariffs/Documents/Industrial%20Us...
    Are customers notified of a change in tariff ahead of the billing cycle? Yes
    Answer
    Price of electricity (US cents per kWh) 18.7

    Note:

    If the duration and frequency of outages is 100 or less, the economy is eligible to score on the Reliability of supply and transparency of tariff index.

    If the duration and frequency of outages is not available, or is over 100, the economy is not eligible to score on the index.