Cyprus as an International Business Centre

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Cyprus has a number of comparative advantages that have contributed towards the island becoming an important international business and shipping center:

  • EU and European Monetary Union Member State
  • Strategic geographical location at the crossroad of three continents – ideal for expansion in new markets
  • Well developed socio-economic infrastructure
  • Broad range and international quality of financial and business services – legal, tax, accounting, investment and brokerage
  • Well developed banking sector for all financial needs
  • An active Stock Exchange and robust Securities and Exchange Commission
  • Market-oriented economy
  • Macroeconomic stability and performance
  • Highly educated, qualified and multilingual talent
  • Stable and pleasant business environment, accompanied by simple administrative procedures
  • Low set up and operating costs
  • Advanced transport and telecommunications network
  • Renown international shipping center
  • Enviable quality of life
  • Stable, Reputable Political and Legal System
  • Simple, Low Taxation

The government of Cyprus, taking into consideration the numerous challenges arising from increasing competition, globalization and the recent global financial crisis, is promoting a number of measures and initiatives to further establish Cyprus as an attractive investment destination. For the elimination of the unnecessary red tape, a number of measures are being promoted, relating to “Better Regulation”. Also, efforts are being undertaken towards the removal of regulatory barriers for the setting up of enterprises. Moreover, the government intends to maintain its low taxation system and further expand the avoidance of double taxation treaties with more countries. The establishment of the “Cyprus Investment Promotion Agency” has contributed dynamically and flexibly to the effective promotion of Cyprus as an international investment and business center, as well as to the infusion of foreign investments in the targeted sectors. Lastly, the establishment of “One-Stop Shop” greatly simplifies procedures for foreigners wishing to create a business in Cyprus.

 

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