Business Environment
There are many factors that contribute to making Cyprus an attractive environment for doing business. These include the following:
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Investing in Cyprus
Investment Opportunity Sectors
Capitalizing on its strategic location, Cyprus has developed through the years into a reputable international services hub especially in the financial services, maritime and shipping. European Union and eurozone membership have further enhanced Cyprus’s attractiveness and its role as a business bridge and springboard for investments in Europe, Africa and Asia.
Economic Environment
During the years since the island’s independence in 1960, Cyprus has been gradually transformed from a mostly closed economy, based on agriculture and mining, into a service-based, export-oriented economy. Much of this transformation was achieved because of the open character of the economy.
Facts and Figures
Basic facts
Official name: The Republic of Cyprus
EU Member State: since 01/05/2004
Political System: Presidential Democracy
President: Mr. Nicos Anastasiades
Population (July 2013 est.): 1,155,403
Area: 9,251 km²
Languages: Greek and Turkish are the official languages while English is widely spoken.
Capital: Nicosia
Currency: Euro (since 01.01.2008 when it replaced the Cyprus pound)