In Cyprus, Life insurance not only serves as a protection for loved ones, but also provides valuable tax advantages. Any person working in Cyprus, who is obliged to pay income tax, can include in their tax declaration form (Taxisnet), every year, the Medical and Life Insurance expenses which count towards tax reduction. Advantages for having a Life Insurance Policy in Cyprus: Recognized by Cyprus Tax Authorities as a Tax Reduction Expense. Can accumulate substantial cash value. It serves as a stable and tax-efficient financial safety net for emergencies, college education, retirement, and even as an opportunity for supplementary income. Protects your loved ones and your business financially in case of need. Provides extra coverage, if added in the policy, for serious disease, Permanent Total Disability, Emergency medical expenses and other medical benefits. 6 ways Life Insurance can help with tax reduction in Cyprus. 1. Tax-Free Death Benefit/ Estate Planning: Life Insurance can be used as an estate planning tool to pass on wealth to your beneficiaries. Life Insurance policies provide a tax-free death benefit to the beneficiaries upon the insured person's passing. This means the policy proceeds are not subject to income tax or capital gains tax. 2. Reduction in Annual Income Tax: Life Insurance premiums can provide tax reduction up to one fifth of the allowed annual taxable expenses. 3. Business Expense: If the policy is solely for the purpose of protecting business interests, the premiums may be considered as a business expense and can be deducted from taxable income. 4. Wealth Accumulation: Certain types of Life Insurance policies, such as investment-linked policies, offer a savings and investment component. The growth of cash value within the policy is typically tax-deferred, which means that you won't pay taxes on the investment gains until you withdraw them. 5. Pension Planning: Life Insurance can also play a role in pension planning. Contributions made towards pension plans with life insurance elements are eligible for tax relief, allowing you to reduce your taxable income. 6. Business Succession Planning: Life Insurance can be an integral part of your business succession plan. By utilizing a Life Insurance policy, you can provide the necessary liquidity to fund the buyout of a deceased owner's interest, ensuring a smooth transition while potentially benefiting from tax advantages. The importance of Expert Advice when deciding a Life Insurance Plan We pass through different stages in life, from single life to married life with children. Thus, each person and family have unique insurance needs which can only be analysed by a professional insurance consultant. The most important step in deciding the right life insurance plan for you is to select a trustworthy and experienced insurance consultant who will guide you through the entire process, analyse your unique needs and advice the right insurance plan for you. We, at HJS Insurance, are here to help you make informed financial decisions to harness the power of tax reductions through Life Insurance. We can prepare a complimentary Life Insurance offer and calculate your tax deduction through our insurance software during a quick online consultation. Feel free to reach out to us to schedule a complimentary online consultation meeting or discuss any questions you may have regarding Life Investment Insurance for tax purposes. Your trustworthy insurance consultants, HJS Insurance Tel. 70005507 www.hjsinsurance.com.cy

How to convert a foreign driving license to a Cypriot Driving License A person who temporarily visits the Republic of Cyprus for a period not exceeding 30 days and holds a valid driver's license, is entitled to drive in the Republic during their stay, provided that the driver's license issued in a foreign country remains valid. Holders of an international driving license are allowed to drive during their stay in Cyprus provided that the international driving license is valid. If a person plans to stay in Cyprus for more than six months, depending on the issuing country of driving license, they have the following options: 1. Holders of a driving license from an EU member state 2. Holders of a driving license of non-EU member state with a reciprocal exchange agreement between Cyprus and the issuing country 3. Holders of a driving license of a foreign country which has not a reciprocal exchange agreement with Cyprus 1. Holders of a driving license from an EU member state The conversion of a driver's license from a foreign to a Cypriot one is done when the Driver's License comes from a country where its Driver's License is recognized as equivalent to the Cypriot one (see list of 21 countries below) or from a country of the European Union. Drivers with a driving license from an EU country can voluntarily exchange their driving license to a Cypriot one following six months of residency in Cyprus. In case that an EU driving license held by a resident of Cyprus expires, is lost or stolen, it must be replaced in Cyprus. You must meet the conditions for obtaining a driver's license to issue a Cypriot Driving License (e.g., you have reached the minimum age of 18 years old, your health condition allows driving, etc). Before the authorities replace your driving license, they will contact the authorities in your previous country of residence to check that your driving license is not restricted, suspended, or revoked. Important Information 1. The holder of a driver's license or learner's license issued by a competent authority of a member state of the European Union is subject to the laws and regulations that apply to holders of a driver's license or learner's license issued by the competent authority of the Republic of Cyprus, during the time he/she drives a motor vehicle in the Republic. 2. Any person is allowed to hold at any given time only one driver's license or learner's driver's license that is valid and has been issued by a member state of the European Union. 2. Foreign Driving Licenses recognized as equivalent to Cypriot Driving License based on a reciprocal exchange agreement between Cyprus and the issuing country Based on the “The Driving License Law of 2001 and its amendments” (Article 20, Amended 06 April 2020), the following driving licenses are considered as equal to the Cypriot Driving License, therefore, are valid in Cyprus without the requirement to have an International Driving License: List of 21 countries of which Driving License is valid in Cyprus: NORWAY ISLAND LICHTENSTEIN AUSTRALIA SWITZERLAND ZIMBABWE USA JAPAN CANADA NEW ZEALAND SOUTH AFRICA RUSSIA GEORGIA UKRAINE SOUTH KOREA SERBIA UNITED ARAB EMIRATES QATAR CHINA MOROCCO MONTENEGRO Holders of driver's licenses from the countries above are obliged to exchange their driver's license after a six-month stay in the Republic of Cyprus. As the driving licenses of the 21 countries above are considered as equal to the Cypriot Driving License, holders do not need to take driving lessons again or pass theoretical and practical tests to exchange their driving license to a Cypriot one. Procedure for the conversion of a foreign driving license (EU or recognized as equal driving license) to a Cypriot Driving License: The procedure to convert a foreign driving license (EU or recognized as equal driving license – list of 21 countries) to a Cypriot Driving License is outlined in steps below: 1. Complete the application for driving license (ΤΟΜ 7Δ) 2. Provide a recent photo 45x33mm 3. Provide a Cypriot ID or Residence Permit (Original and one copy) 4. Provide a Passport (Original and one copy of the main page) 5. Provide the Foreign driving license (original and one copy of all pages). The original driving license will be returned to the issuing country. 6. Provide a translation of the Foreign Driving License (only if it’s in a language other than Greek or English). Translation should be performed by approved translators (see https://www.pio.gov.cy/en/translations/) 7. Provide proof of at least six months of residence in Cyprus (such as utility bill, bank account, rental agreement) 8. Present all the documents in person*. There is an application fee of 40 EUR for persons up to 65 years old. There is no fee for persons above 65 years of age. *For the issuance/copy of a Driver's License, interested parties should contact the local authorities provincial offices of the Road Transport Department of Nicosia (TOM), Limassol, Larnaca, Famagusta and Paphos or all Citizen Service Centers (CSCs) and KE.POs of the Department of Postal Services (see https://www.cypruspost.post/en/kentro-politi). Important Information 1. Cypriot Driving License is issued for a period of fifteen years for categories AM, A1, A2, A, B, B1 and BE. After the date the applicant turns 55 years of age, the driver's license is issued for a period until the applicant reaches the age of seventy (70). 2. The renewal of a standard driving license for people aged 70 and over is valid for three years. 3. Holders of a driving license of a foreign country which doesn’t have a reciprocal exchange agreement with Cyprus Holders of a driving license which is not issued from an EU member state or not recognized as equivalent of the Cypriot Driving License (see List of 21 countries) must start the procedure for issuance of a driving license as a new driver in Cyprus and undergo practical and theoretical examination. The allowed period to drive in the Republic of Cyprus with a foreign driving license depends on the issuing country. It’s advised to contact the Department of Transport or corresponding Embassy/Consulate in Cyprus. Only people who have been residents in Cyprus for at least six months may apply for a Cyprus driving license. Driving license conditions A driving license for a category or special category of motor vehicle is granted to an applicant who: (a) has habitual residence in the Republic or proves that is attending a higher education institution for a period of at least six months. (b) has passed a theoretical and practical examination on the subjects specified in article 23 of the law. (c) has the minimum physical and mental abilities, as certified in accordance with the provisions of article 33 of the law. (d) does not hold another valid driver's license issued by a member state of the European Union. (e) pays the fees specified in Appendix C of the law. There is an application fee of 40 EUR for persons up to 65 years old. There is no fee for persons above 65 years of age. (f) has completed the required minimum age for the driver's license applied for, in accordance with the provisions of article 6 of the law. To learn more on how to issue a Cypriot Driving License you can contact: DEPARTMENT OF ROAD TRANSPORT Vasileos Pavlou 27, 2412 Egkomi Tel: +35722807000 Fax: +35722354030 email: roadtransport@rtd.mcw.gov.cy HJS Insurance provides insurance coverage to holders of EU driving license, non – EU driving license of a country which has a reciprocal exchange agreement with Cyprus and other countries including UK, USA, China, Russia, Israel, Japan, Lebanon, Iran. You can request an insurance quote from us here: www.hjsinsurance.com.cy/contact Author: HJS Insurance Agents & Consultants Tel. 70005507 Website: www.hjsinsurance.com.cy Source: The Driving License Law of 2001 - 94(I)/2001 DEPARTMENT OF ROAD TRANSPORT

Startup Europe Week (SEW) is the largest regional entrepreneurship event and grassroots movement in the world whose goal is to help entrepreneurs grow and thrive wherever they are or come from. HJS Insurance is the official co-organizer of the Startup Europe Week Nicosia 2021 event which will be hosted virtually via Facebook live streaming on the 13th of October 2021 at 16.25. The agenda (see below) includes presentations from new ecosystem players, soft skill and negotiation training for entrepreneurs. Join us on Facebook @hjsinsurance on the 16th of October at 16.25!

The House of Representatives passed a bill amending the 2019 Law by adding provisions for the creation of a registry, by the Deputy Ministry of Tourism, for the registration of self-service, short term rent, accommodation establishments (villas, houses and apartments) which are advertised on platforms such as Airbnb and Booking.com. According to the Deputy Ministry, upon the submission of the application the applicant may advertise and or rent the self-service accommodation, provided that it is registered in the Register of Self-Service Accommodation and has received the special sign and Registration number by the Deputy Ministry. The requirements for registering a self-service accommodation are: ➢ Registration with the tax department ➢ Insurance coverage for the establishment, at least insurance against any risk and especially fire and public liability insurance. The application form for the registration in the Register of Self-Service Accommodation can be found on the website of the Deputy Ministry of Tourism www.tourism.gov.cy . A fee of 222 EUR/every three years will apply. HJS Insurance provides Property Owners insurance packages which fulfil the requirements of the law. Call us for a complimentary consultation or visit our website to learn more: https://www.hjsinsurance.com.cy/property-owners-insurance

We believe that the best way to improve our community is by giving back. HJS Insurance is a proud Supporter of Tedx Youth Engomi - The first TEDx Youth Event in Cyprus. As Youth is the future, we are proud to support initiatives which empower young people to think deep. Learn more here: https://www.tedxyouthengomi.com/

Our Director, Andreas Hadjisofocleous, represented Cyprus and HJS Insurance at the World Economic Forum’s 12th Annual Meeting of the New Champions (Summer Davos) in Tianjin, China, the world’s foremost gathering on innovation, science and technology. Andreas participated in several sessions on smart cities, entrepreneurship and new technologies. Moreover, he had the opportunity to attend sessions and meet with entrepreneurs, business people, academics and influencers from all over world including Jack Ma – the founder of Alibaba, the Director of CERN and the Premier of China among others.

Ο Διευθύνων Σύμβουλος μας Ανδρέας Χατζησοφοκλέους θα μιλήσει για #SoftSkills & #Leadership στο Συνέδριο “ΔΕΞΙΟΤΗΤΕΣ ΗΓΕΣΙΑΣ ΣΤΗΝ ΕΚΠΑΙΔΕΥΣΗ ΤΟΥ 21ου ΑΙΩΝΑ” Το συνέδριο αποτελεί παράλληλο συνέδριο του ψηφιακού συνεδρίου «ΣΥΓΧΡΟΝΗ ΚΟΙΝΩΝΙΑ, ΕΚΠΑΙΔΕΥΣΗ ΚΑΙ ΨΥΧΙΚΗ ΥΓΕΙΑ» που διοργανώνεται από Τα Προγράμματα Ψυχικής και Κοινοτικής Υγείας του Πανεπιστημίου Αιγαίου. Κάντε εγγραφή και συντονιστείτε μαζί μας εδώ.

Μέσα στα πλαίσια της συνεχούς μάθησης της εταιρείας μας για μια αποτελεσματική μεταφορά γνώσης στους πελάτες μας, ο Διευθύνων Σύμβουλος μας παρακολούθησε επιτυχώς το σεμινάριο Directors Roles & Responsibilities που διοργανώθηκε από το European Institute of Management and Finance – EIMF στη Λεμεσό.

HJS Insurance, the official Startup Europe Week Co-Organiser, successfully organised another edition of the Startup Europe Week in Nicosia, with the support of our esteemed partners. The conference was dedicated to all the entrepreneurs who are striving to improve the state of our community. A big thank you to our speakers: Andreas Hadjisofocleous, SEW19 Co-Organiser, Director HJS Insurance Agents & Consultants George Boustras, Dean of the School of Business Administration Christos Nicolaides, Director IHE Innovative Business Services Natasa Christou, PhD, Director Fab Lab Cy, Architect, RIBA II, Founder Telalis Burak Berk Doluay, Co-founder CyprusInno Grace Ng, Cofounder, Javelin and Lean Startup Machine, Investment Partner, Lean Venture Partner Maria Markidou Georgiadou, Managing Director Cyprus Seeds Monica Ioannidou Polemitis, Director of Innovation & Entrepreneurship Centre at Deloitte and Director of ARIS A Really Inspiring Space Panayiotis Philimis, Founder and CEO of CyRIC & Gravity Ventures Incubator Pangratios Vanezis, Board Member KPMG Cyprus & Leader KPMG Enterprise & Startups Simona Mihai Yiannaki, PhD, Deputy Dean School of Business & Director EUC-PEAK Innovation Centre Credits to our sponsors the European University Cyprus PEAK Center and gratitude to our startup supporters Cyprus Seeds, KPMG Cyprus, Javelin, Global Shapers Nicosia.

Πιστεύουμε στη νέα γενιά και στη δύναμη της επιχειρηματικότητας για τη δημιουργία ενός καλύτερου μέλλοντος. Για αυτό το λόγο στηρίξαμε την εκπαίδευση επιχειρηματικότητας του Ευρωπαϊκού Πανεπιστημίου Κύπρου και λάβαμε ενεργά μέρος στην ενδυνάμωση των νέων επιχειρηματιών. Ο Διευθύνων Σύμβουλος μας Ανδρέας Χατζησοφοκλέους προσκλήθηκε σαν εκπαιδευτής στα θέματα “Άντληση Κεφαλαίων” και “Παρουσίαση Ιδέας” κατά τη διάρκεια της εκπαίδευσης στο Ευρωπαικό Πανεπιστήμιο Κύπρου. Μια εξαιρετική πρωτοβουλία από το PEAK και την Ακαδημαϊκό Σιμόνα Μιχάη Γιαννάκη που βοήθησε αρκετούς νέους που θέλουν να ασχοληθούν με την επιχειρηματικότητα.

Η εταιρεία μας συμμετείχε σε εκπαίδευση του Πανεπιστημίου Λευκωσίας με θέμα την «Αποτελεσματική εξυπηρέτηση του πελάτη στο εργασιακό περιβάλλον», διάρκειας 12 ωρών. Πιστεύουμε στη δια βίου μάθηση και το αποδεικνύουμε εμπράκτως με τη συμμετοχή μας σε εκπαιδεύσεις και συνέδρια στην Κύπρο και το εξωτερικό έτσι ώστε να προσφέρουμε την καλύτερη δυνατή εξυπηρέτηση σε εσάς!

Our Director Andreas Hadjisofocleous was invited to attend the Horasis Global Meeting which was held in Cascais, Portugal, over 5-8 May. Horasis is a global visions community dedicated to inspiring our future. Over 600 CEOs, thought leaders and senior politicians (including several heads-of-governments and Ministers) from around the world attended the meeting to discuss global issues. Andreas talked about Global Risks and how entrepreneurs could create positive change circumventing geopolitical tensions. The immediate Global Risks identified during the panel discussion: Regional Wars Irresponsible Leadership Cybersecurity Climate Change Fake News Misuse of A.I Technology