Cyprus: an island with a plethora of business and investment opportunities
Why should you consider Cyprus?
- Location, location, location … Cyprus is strategically located at the crossroad of three continents; Europe, Asia, and Africa.
- It is a European Union member since May 1, 2004 and therefore has easy access to the European market. Moreover, it has excellent business relationships with the Middle East and Eastern Europe.
- A strong economy growing at more then 4% per year and per capita GDP of US$23,000 providing high consumer purchasing power.
- It is an ideal jurisdiction for Holding Companies with the lowest corporate tax rate in the EU at only 10% and over 40 bilateral tax treaties.
- Cyprus has a highly qualified, multilingual labor force with significantly lower labor costs when compared to the EU average
- It offers 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
- Cyprus has 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.
We recommend that you check our Country Commercial Guide for a more detailed description of how to do business in Cyprus. Please note that we are here to assist you in your business endeavors and feel free to contact us to see how we can help you achieve your business objectives.