The city of Paramithia probably took its name from Panagia Paramithia monastery. The monastery was built in the second half of 13th century on the southwest side of the city and it is of cross-vaulted type with two columns and a narthex. Not much information is collected regarding its history. According to tradition in this monastery the mortal remains of Aghios Spiridonas and Aghia Theodora were kept for a while on their way from Constantinople to Corfu. It is also the place where the remains of Aghios Anastasios from Paramithia were buried. One of the most remarkable remaining heirloom is the gold-knitted Epitaph of 1587, work of monk Arsenios.