Under this agreement, the Government of Cyprus eliminated quantitative restrictions and other non-tariff barriers to trade. This opened up the Cypriot market to most U.S. goods, most of which previously had been severely limited. Significantly, the preference now given to EU products under the CCT is less than the preference Cyprus gave to EU countries under its previous tariff regime. These developments are helping U.S. exports to Cyprus become more competitive than ever. Goods are classified according to their composition, description and purpose and carry various rates of duty.
Luxury items carry the highest duties.
Various other documents according to the nature of each import will be required. A Health Certificate and Listing of Ingredients are required for imported food products. The temporary entry of goods allows the importation without payment of duty. Other than the temporary importation of motor vehicles, this facility is extended to goods for processing or repair prior to their re-exportation, goods for exhibition, and commercial samples, provided they do not change their form or character. The initial temporary permit is valid for three months and can be extended by application to Customs headquarters.