Doing Business in Cyprus

In the 21st century, Cyprus has become a bridge of economic co-operation conducive to investments as well as the destination of choice for investors seeking an ideal location for international business. Its geographical advantage as a natural bridge linking Europe, Africa and Asia became even more important following its accession to the EU (2004) and the Economic and Monetary Union (2008).

The island has established a reputation as a springboard for international investors accessing the large EU markets as well as the emerging economies of the Middle East, Eastern Europe, North Africa, India and China.

Cyprus provides a plethora of opportunities for investors. Its market-oriented economy operates within a transparent regulatory and legal system based on the Common Law of the United Kingdom, and fully harmonized with the collective framework of laws and regulations of the EU. Cyprus provides many advantages to the corporate sector, including the lowest corporate taxation rates in the EU (10%) with a broad range of double taxation agreements with 44 countries.

Foreign investors are able to utilize an advanced transport and telecommunications infrastructure, a highly educated, skilled and multilingual human capital base as well as a high standard of specialist professional services. Moreover, Cyprus offers relatively lower operating costs with high quality services, including banking, tax, accounting, auditing, business administration, legal, investment and funds management. All these paired with the island’s enviable quality of life are the key ingredients that have made Cyprus stand out in the Global Investment Map.

Cyprus Business Environment

There are many elements that contribute to making Cyprus an attractive environment for doing business. These include the strategic location, the sophisticated infrastructure, the highly-educated workforce, the favourable tax system, and the modern banking and insurance networks.

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Cyprus Economic Environment

Cyprus has a modern, free-market, serviced-based economy with a long record of successful economic performance and positive growth.
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Cyprus' Economic Freedom

Cyprus’s economic freedom score is 73.3, making its economy the 18th freest in the Heritage Foundation 2011 Index. Cyprus performs well in many of the 10 economic freedoms. Business growth is facilitated by a relatively transparent and efficient regulatory framework.
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Cyprus Taxation

While Cyprus tax system has been reformed to comply with the EU Acquis Communautaire, the appropriate actions have taken place to maintain Cyprus’s competitiveness as an international business centre and enhance its attractiveness as a suitable jurisdiction for holding companies.
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Multinational Presence in Cyprus

A significant number of multinational companies and international banking units are already operating in Cyprus, further enhancing the productive and positive nature of the national economy.
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Cyprus' Global Competitiveness

Cyprus was ranked number 47 out of 142 countries by the World Economic Forum "Global Competitiveness Report 2011 - 2012". The Global Competitiveness Report is a yearly report published by the World Economic Forum.
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Human Development Index in Cyprus

Cyprus is ranked 31st in the world out of 187 countries according to the 2011 Human Development Report, with a Human Development Index (HDI) value of 0.840.
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