1.Cyprus and the European Union On May 1, 2004 Cyprus became a member of the EU.
Cyprus is due to become a candidate of the Schengen and join the Schengen Zone. Accession to the EU has launched a new era of commitment to growth in Cyprus.
2. Tax system benefits.
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
Cyprus’s real GDP growth rate is well above the average growth rate 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. Foreign Direct Investment.
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. The long-term FDI trend is positive, and Cyprus has the potential to attract even higher FDI.
5. Location of Cyprus
Cyprus’s strategic location is at the crossroads of three continents playing a major part its great history throughout the centuries and it has developed into a reputable international business and services center. Naturally, Cyprus is one of the key international shipment centres with a substantial amount of products exported.
6. Highly regarded 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.
7. Advanced infrastructure and network
Two international airports, a modern road network and port facilities have been long established in Cyprus. It is known as a commercial, financial and business center in the region. More than 33 Airlines operate scheduled flights from and to Larnaca International Airport and Paphos International Airport. Public transport, bus service was recently upgraded across the island.
8. Excellent 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.
9. Highly skilled and multilingual personnel
Cyprus has a young, well-educated group of individuals. The country is committed to education and is focusing on reforms to achieve sustainable growth. It has an excellent array of colleges and universities with very high standards offer a diversity of academic programs. Since 2004 Cyprus has consistently allocated over 6% of GDP of public expenditure on Education.
10. The island for everyone
Cyprus offers a wonderful environment for a very contented standard of living and Cyprus ranks as the 28th highest in the world, with 90.3 points. The highest score was 96.8 points. By European standards Cyprus is inexpensive to live a comfortable standard lifestyle and the low crime rate encourages many foreign investors.
11. Popular Holiday Destination
Cyprus was recently awarded by Trip advisor for having the best No. 1 and No. 3 beaches in Europe. The East Coast of Cyprus is the most popular destination and attracts the majority of the tourists to the island. Eastern Cyprus is known for its clear blue safe waters and hosts one of the top diving wrecks in the world. There is also a multitude of historic places to visit across the island and plenty of activities for all the family to enjoy.