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Cyprus is the South-Eastern border of the EU, situated in the Eastern Mediterranean at the crossroads of three continents: Europe, Africa and Asia.
Cyprus is just a few hours flight from Europe, North Africa, Russia, the UAE and other countries in the area.
The strategic geographical location of the island is one of the main factors that contributed to its development as an international business and financial centre promoting global trade and cooperation in the region.
Cyprus has a robust, modern and forward-looking legal and regulatory framework based on English Common Law principles and is in line with the EU laws and regulations.
The country’s legal framework is widely recognised as a business-friendly and effective system that facilitates reliable and transparent business practices.
The professional services sector in Cyprus is well developed and forms a major part of the economy of the country.
The role of the professional firms of qualified Accountants, Auditors, Lawyers, Consultants, Banks, Finance, and Insurance companies is vital in providing business support and one of the main factors leading to the success of the country.
Cyprus has a strategy for attracting businesses and talented people and provides access to local, European and global talents. The Cyprus Startup Visa regime allows entrepreneurs from countries outside the EU to establish their business in Cyprus. As an EU member state, Cyprus provides visa-free access to the European labour market but also fast and easy access to global talents.
Notably, Cypriots are highly educated, qualified and almost all are bilingual, if not multilingual. Most importantly, however, business is still done with a personal attention and care. The cost of the skilled labour is very competitive compared to other European and international business centres.
The setup as well the ongoing cost of doing business in Cyprus is lower compared to the major EU and other jurisdictions.
The island offers access to talents and professionals as well as office rental and other maintenance works at affordable and competitive rates.
A number of factors have contributed to the reputation of Cyprus as a growing Tech & Innovation hub. The strategic geographical location, the robust legal and regulatory framework, the favourable IP Tax Box regime, the ease of doing business in Cyprus, the access to talent and global markets, as well as the relatively low set up and operating costs, are among these factors.
The vision statement of Cyprus’ National Digital Strategy is to become a fit-for-the-future society and knowledge-based economy enabled by digital and emerging technologies that will drive sustainable economic growth, social prosperity and international competitiveness.
Large ICT global companies are using Cyprus for their headquarters or regional offices offering software development, systems integration, project management, research and development, communication and other technology services. Examples include NCR, IBM, Kardex, Microsoft, Wargaming, 3CX, TSYS, Amdocs, Exness, Bolt, Melsoft Games, Kyndryl, Viber, Asbis and Nexters.
Cyprus is amongst the top destinations in attracting Foreign Direct Investment (FDI) mainly due to its beneficial business operating environment and attractive tax regime.
The large-scale projects in the real estate sector, luxury marinas and tourism infrastructure, the financial and insurance operations, energy, as well as new sectors promoted by the Government including technology, Research & Development & Innovation (R&D&I), regional headquartering, educational upgrades, medical advancement, film production and investment funds are attracting foreign investments.
Cyprus is an internationally renowned maritime centre, offering a competitive regulatory framework combined with a package of Tax Incentives, efficient operational infrastructure and high quality of services.
The island’s strategic geographical location combined with the tax incentives offered as well as its successful operational infrastructure ranks the country amongst the leading shipping centres in the world.
Cyprus is the 3rd largest merchant fleet in the EU alongside the largest merchant fleets in the world, operating a European Open Registry.
The Republic of Cyprus acceded to the European Union (EU) as a full member on 1 May 2004.
In addition, on 1 January 2008 the Republic of Cyprus joined the European Monetary Unit (EMU) with a robust economic performance.
Cyprus has a healthy and pleasant Mediterranean climate with dry summers and mild winters with an average of 300-340 days of sunshine a year. Most of the rain falls during the months of November to April.
Cyprus offers a wonderful environment with beautiful sandy beaches, traditional and rich Cyprus cuisine, golf fields, marinas, water sports and other activities, a quality standard of living and above all, hospitable and friendly people.
Cyprus is ranked as one of the safest countries in the world with a very low crime rate.
Cyprus has an excellent infrastructure with modern road network, extensive port facilities and two new international airports. The island is a destination hub for businessmen and tourists connecting Europe with Middle East, Asia, Africa, and the rest of the world. The telecommunications network ranks amongst the finest in the world.
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