Cyprus -

Your new horizons

KEY FACTS AND FIGURES

Modern Cyprus

300 +

Sunny days a year

Square

9,251 km

2

Population

0.91 million

(68% urban)

50+

Airlines

Flights around the world

Political system

Democratic Republic

Lowest

crime rate in the EU

In the top five countries

by the number of blue flag beaches

№20 from EU countries

GDP per capita

Languages

Greek

English

Russian

Leading industries

Tourism

Real estate

Professional services

indices

16

Henley&Partners

In the ranking of passports

#30

IMD World

Competitiveness in the world

#54

World Bank

Ease of Doing Business in 2020

#28

Forbes

Best countries for business

2004

EU Member State

2008

Eurozone Member

ENERGY

SHIPPING

INNOVATION AND STARTUPS

EDUCATION

REAL ESTATE

INVESTMENT FUNDS

FILMING

TOURISM AND HOSPITALITY

Emerging destinations in Cyprus

ENERGY

Cyprus rising fuel hub with natural gas discoveries attract worldwide interest. The discovery of hydrocarbons in Cyprus' EEZ has created new exciting prospects for the island to become an energy hub in the Eastern Mediterranean. Cyprus is also fast developing into a regional fuel hub, operating a sophisticated oil storage terminal in Vasilikos, the first terminal of its kind in the Eastern Mediterranean, connecting Europe and the Black Sea with markets in the Middle East and Asia

Discoveries of natural gas sources

Regional cooperation and synergies for gas exploitation and export

Multi-billion infrastructure projects

The Ideal regional base for serving the Eastern Mediterranean region rising fuel hub

New opportunities in the renewable energy

SHIPPING

Cyprus is a prosperous world-class international maritime cluster that offers efficient and high-quality services in a wide spectrum of activities.The strategic location of the island offers attractive legislative and operational shipping infrastructure, spectacular yacht marinas, solid and efficient tax framework, and excellent communications network. Cyprus has successfully built a diversified and strong maritime industry, which offers a unique set of competitive advantages. Cyprus is one of the most reliable and competitive shipping centers in the world in terms of services, registration fees, and taxes.

One of the largest maritime clusters worldwide

EU-approved Tonnage Tax Scheme

EU "Open Registry" regime

3rd largest merchant fleet in the EU and among the largest merchant fleets worldwide

Advanced maritime infrastructure

INNOVATION AND STARTUPS

One of the top priorities for Cyprus is creating value through ideas and encourage the growth of entrepreneurial spirit. Cyprus is a perfect choice to start and scale companies. Island infrastructure provides innovative research, a rapidly growing startup ecosystem, a highly educated and experienced human talent, and a range of incentives. Many successful tech companies have already either relocated or expanded in Cyprus, using the country as a base and gateway to and from the EU.

Strong ICT and innovation ecosystem

Wide pool of quality intellectual capital

Tax incentives for investment into innovative companies and start-ups

Low costs of launching and running a business

Start-up Visa for third country nationals

EDUCATION

Cyprus is a world-class educational and research center of excellence with high-quality academic institutions that offer a large variety of advanced and fully accredited undergraduate and postgraduate programs at affordable costs. The island attracts thousands of international students every year. Research is widely promoted within academic institutions, with Cyprus holding the highest absorption rate of EU research grants.

High quality institutions and distinguished academics

Multidisciplinary offering programmes in English and other languages

Close cooperation with universities from the UK/Germany and the US

State support and EU funding opportunities

Advanced research and state-of-the-art infrastructure

REAL ESTATE

Combination of high quality life, great climate and natural beauty, ease of doing business and investment incentives offer investors an attractive experience in terms of both living and doing business. The real estate and construction sector have experienced remarkable growth in the past years, demonstrate increased demand and activity levels, the launch of prestigious large-scale projects, investment incentives, and an inflow of foreign investment.

Increase in sale contracts and building permits

Increase in properties sold to international investors

Attractive Incentives

Hotels' renovations/acquisitions

Landmark residential and commercial projects

INVESTMENT FUNDS

Consolidated, recapitalized and modernized banking sector ensuring efficiency, security and transparency has attracted significant amounts of FDI in the past years. Cyprus is also fast becoming one of the top emerging investment fund centers in Europe, offering unique access to high-growth markets. Determined to stay at the forefront of industry developments and continuously upgrading its legislative and regulatory regime, Cyprus has developed into a key regional domicile for setting up investment funds and establishing asset management companies for pan-European reach.

Flexible structures UCITS and AIFs

Low set-up and operation costs

High quality business support services

Tax benefits for investors and fund managers

Transparency and investor protection

FILMING

Cyprus' natural beauty is an ideal filming location that combines with investment incentives. The Mediterranean Sea and sandy beaches, charming forests and breathtaking mountains, cultural sites, and enchanting locations – all those forms Cyprus as a unique filming location. Cyprus also offers important incentives encouraging film production. In specific, production companies that opt to film in Cyprus will be able to choose between cash rebate or tax credit and can also benefit from tax discounts on investments made on equipment and infrastructure, and VAT returns on expenditure in scope.

Tax incentives

Large variety of charming sceneries

300+ days of sun weather

Short internal distances

Short distances from major neighboring countries

TOURISM AND HOSPITALITY

Tourism is one of Cyprus' most efficient and strong economic sectors with a significant contribution to the country's GDP. Cyprus benefits from its natural beauty, excellent weather and breath-taking sceneries and strives to enhance its competitiveness as a premium touristic destination, diving into niche areas, upgrading and developing new experiences. Strategic large-scale projects, such as luxury resorts, marinas in all major seafront cities and the new integrated casino resort, are expected to further stimulate this booming industry.

Attractive and vary tourist Infrastructure

Numerous prestigious hotels and resorts

One of the best climates worldwide

Most Blue Flags per capita in the EU

Two international airports with more than 50 airlines arriving