If you are considering the Greek market, you may also want to take a look at Cyprus. For more information, please contact the U.S. Embassy Nicosia at http://www.buyusa.gov/cyprus

Why should you consider Cyprus?

• Location, location, location … Cyprus is strategically located at the crossroads of three continents; Europe, Asia, and Africa.
• European Union member since May 1, 2004 with easy access to the European market. Moreover, it has excellent business relationships with the Middle East.
• A strong economy growing at more then 4% per year and per capita GDP of US$23,000, providing high consumer purchasing power.
• An ideal jurisdiction for Holding Companies, with the lowest corporate tax rate in the EU at only 10% and over 40 bilateral tax treaties.
• A highly qualified, multilingual labor force with significantly lower labor costs when compared to the EU average.
• Macroeconomic stability with successful economic performances such as high growth rate, low inflation and unemployment rates. Cyprus enjoys a strong currency and as of January 1, 2008, it will officially adopt the Euro as its currency.
• Banking, accounting, and legal services are extremely efficient and one of the strong points of the economy.
• An advanced telecommunications network and infrastructure, as well as a wide network of air-routes offering excellent connections with Europe, Africa, and Asia, and first-rate sea connectivity.
• Is an attractive location for Foreign Direct Investment (FDI) with a high FDI performance and a high FDI potential.
• Ranking among the 10 leading maritime nations in the world, Cyprus is a highly reputable international shipping center.
• As a Mediterranean island, Cyprus has a superb climate with dry summers and mild winters, enjoying about 300 days of sunshine.