FACTS AND FIGURES ABOUT CYPPRUS:

Geographical Location: 3rd largest island in the Mediterranean Sea located in the eastern Mediterranean – Middle East (between Asia, Africa and Europe)
Main Cities: Nicosia(capital), Limassol, Lamaca, Paphos, Famagusta, Kyrenia
Official Languages: Greek and Turkish (English is widely spoken)
Population (2014 est.): 1,172,458
Currency: EURO, joined EUROZONE since January 2008
Time Zone: 2+ GMT
E.U: Full E.U Member since May 2004
Legal System: Common Law primarily based on the English Legal System
Airports: Larnaca and Paphos International Airport
Drive: On the left side

CYPRUS AS AN INVESTMENT DESTINATION - AN ISLAND BETWEEN EUROPE, MIDDLE EAST AND AFRICA

Since ancient times the historical importance of Cyprus far exceeded its small size. Its geographic location, together with its agricultural, mineral and forest wealth, made Cyprus, a transit station and centre of trade and culture.

Nowadays, Cyprus strategic location is considered a blessing as it attracts powerful forces with economic and strategic motives from all over the world. It has become a land of opportunities for many foreign investors, especially after its accession to the European Union in 2004 and its adaption of the E.U currency in 2008 where it facilitated easily international commercial transactions and also made the island a member of a huge, fast growing market. Additionally, it has evolved into an international business hub due to the island’s friendly, modem legal and tax regime which automatically motivates people to invest not only their wealth but also to expand and advance their business.

Cyprus is also a popular tourist destination that offers a multidimensional experience to everyone that visits the island. Here you will be exposed and discover more than 1000 years of history and cultural heritage, where you will be welcomed by the Cypriot hospitality and enjoy the sunny weather which is more than 300 days of blue skies a year due to the islands mild climate. Cyprus is an island full of contrasts surrounded by sandy beaches and world class resorts with marinas that offer high standards which meet the needs both of leisure and work by offering professional services for conferences.

The recent discovery of oil and gas reservoirs found in the Exclusive Economic Zone (EEZ) are of a major importance not only for Cyprus to solve its own energy dependency but at the same time it would develop the region around Cyprus and make the island a new energy hub for the whole Europe.

Despite the recent global financial and economic crisis, Cyprus has managed to overcome the challenges through its innovative tactics/methods and modem business environment and has managed to adapt to the constantly changing environment in order to guarantee in every way the interests of the island.

One of the main objectives of the economic policy of the Republic of Cyprus is to further encourage Foreign Direct Investment and to attract high net worth individuals to settle and do business in Cyprus. Key factors that make Cyprus an attractive destination for investment, is the highly specialized human capital, the reliable legislative and regulatory framework, the stable tax system and the safety and stability conditions prevailing in the country. Within this framework and taking into account the strong investor interest, the Government of Cyprus has established and revised the “Cyprus Investment Programme” on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2017, with specific incentives, terms and conditions and control procedures in order to prevent abuse. On the basis of the Programme, a non-Cypriot citizen, who meets specific economic criteria may apply for the acquisition of the Cyprus citizenship through naturalization by exception.

MAIN ADVANTAGES OF CYPRUS

Cyprus is a democratic country with political stability and emphasis on full protection of human rights.

The English language is spoken by the vast majority of the population, which makes it easier for non Cypriots to live and prosper in the country. Russian is also spoken by a large percentage of people.

It enjoys a high standard of living and quality of life with a modern and highly developed infrastructure and excellent telecommunications, ranked as the fifth best place to relocate by Knight Frank Global Lifestyle Review.

A secure and safe environment for the whole family to enjoy a stress free lifestyle.

Cyprus has a very high standard of Education across all sectors. There are excellent private schools for both junior and secondary level foreign pupils. These schools are directly linked to the UK education system allowing graduates to easily obtain entry into the top UK Universities. Cyprus also has a wide selection of English speaking Universities which are directly related to UK and USA Universities.

Cyprus has the lowest corporate EU tax rate which is 12.5% and its evitable geographical position between Asia, Europe and Africa makes Cyprus the ideal place to invest as it is a gateway for many emerging nations such as China, Iran and India to expand further their business throughout Cyprus.

No inheritance tax applicable and no estate duty.

No taxation on foreign source income received in Cyprus.

Cyprus provides excellent health care at low cost. Each major town has its own Government Hospital, in addition to many private hospitals and clinics throughout the country.