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10 Top Reasons to Invest In Cyprus
In a globalized economy where multinational companies are pressed to maintain and increase quality while cutting costs to meet increasingly higher client expectations, Cyprus provides a complete value proposition.
1. European Union Member State
After a long journey of over three decades, the Republic of Cyprus became a full member of the EU on May 1, 2004.
Accession to the EU was a natural choice for Cyprus, driven by its culture, civilization and history, as well as its unwavering commitment to the values of democracy, freedom and justice.
Accession to the EU has also launched a new era of commitment to growth in Cyprus. Cyprus encourages
Foreign Direct Investment opportunities in the priority economic growth sectors, highlighted in the country’s Strategic Development Plan 2007-2013.
2. Tax system is a major plus.
Cyprus offers an advantageous tax system for international business. The uniform corporate tax rate of 10% is the lowest in the EU
3. Macroeconomic stability with successful economic performance
Cyprus's real GDP growth rate is well above the average growth rate of EU 27 as well as that of Eurozone.
Specifically, in 2008 the real GDP growth rate reached 3, 7%. The annual growth rate is expected to continue in such high levels in the future.
Cyprus enjoys macroeconomic stability which is reflected through various indicators including Real GDP Growth
4. FDI (Foreign Direct Investment) track record.
Cyprus is one of the most attractive locations for foreign investments, ranking among the frontrunners of the world indicating both high FDI performance as well as high FDI potential, based on the latest World Investment Report of UNCTAD published in 2006. In 2008, Cyprus attracted a total of 1262.3 million Euro in Foreign Direct Investment (FDI)
The long-term FDI trend is positive, and Cyprus has the potential to attract even higher FDI
5. Efficient legal, accounting and banking services
Acknowledging that information and knowledge would be the drivers of sustainable growth in the global economy of the future,
Cyprus has undertaken a major role in facilitating the exchange of ideas, services and support among professionals worldwide.
6. Strategic Location Europe's Middle Eastern Outpost
Cyprus's strategic location at the crossroads of three continents has been a major factor in shaping its history throughout the centuries and its development into not only a major eastern Mediterranean trading post but also a reputable international business and services center.
Unsurprisingly, Cyprus is one of the key international transshipment centres with substantial amount of products re-exported; amounting in 2005 to approximately €802 million Euros.
7. Advanced telecommunications network and infrastructure
Transportation Two international airports, a modern road network and multipurpose port facilities have long established Cyprus as a commercial, financial and business center in the region. More than 33 Airlines operate scheduled fl ights from and to Larnaca International Airport (5 km from Larnaca town centre) and Pafos International Airport (15 km east of Pafos town).
8. Highly qualified and multilingual labour force
Cyprus has a young, well-educated talent pool. The country is committed to education and is focusing on reforms to achieve sustainable growth.
Since 2004 Cyprus has consistently allocated over 6% of GDP of public expenditure on Education
9. Reputable International Shipping Centre
Cyprus is a highly reputable international shipping centre, ranking among the 10 leading maritime nations in the world; with a merchant fleet exceeding 21 million gross tonnage and nearly 2000 vessels.
Ship Management Cyprus constitutes one of the largest ship management centres in the world; around 50 ship management companies and marine-related foreign enterprises are conducting their services in the island.
10. Living and working on the island for all seasons
Cyprus offers a wonderful environment for a very comfortable standard of living indicatively, according to the latest publication of the Human Development Index which is a measure of the standard of living of a country, published by the UN Development Program (UNDP) in 2005, Cyprus ranks as the 28th highest in the world, with 90.3 points.
The highest score was 96.8 points.
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