Cyprus > Doing Business in Cyprus

Doing Business in Cyprus

Cyprus has a healthy and robust economy, relying mostly on the services sector.

The country has been relatively resilient to the current economic crisis and world recession.

The strategic location of the island, the lowest corporate tax in the EU, a highly developed socioeconomic infrastructure, excellent telecommunications, a sophisticated and sound banking system, a wide range of high quality professional services and a favorable economic and business environment, make Cyprus an ideal centre for business activities.

In addition to the above, the wide knowledge of the markets of the Middle East and Central Eastern Europe regions by Cypriot businesses, combined with the large number of International Business companies in Cyprus, constitute a substantial advantage to those who decide to use Cyprus as their base for penetrating markets in these areas.

The comparative advantages which Cyprus offers as an International Business Centre derive mainly from:

  • Being a Member State of the EU.
  • The adoption of the Euro as the official currency.
  • The strategic position of the island, at the crossroads of Africa, Middle East and Europe.
  • The high educational level of its workforce and versatility in the use of new technology.
  • The satisfactory and continuous upgrading of the level of infrastructure, in airports, ports, energy and telecommunications.
  • The high quality of consultancy services such as legal, accounting, auditing, etc
  • The modern and transparent legal, financial and accounting systems.
  • The favorable business climate.
  • A fully liberalized foreign investment regime.
  • The excellent living conditions for foreigners.
  • The close economic and political relations with the countries of the Middle East and of Central and Eastern Europe.

Click here to review PWC's Cyprus Tax Facts & Figures

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