CYPRUS

Cyprus an island and a Republic in the Eastern Mediterranean Sea is the third largest island in the Mediterranean and since 2004 an EU state. It is widely described as the gateway between Europe, Asia, the Middle East and Africa.

Cyprus, a place of rich ancient history, with deep and diverse cultural character is today probably one of the most popular relocation destinations in the world.

Among the many reasons for which Cyprus is selected as such are its beautiful landscapes with majestic mountain ranges and golden sandy beaches, its mild climate with long dry summers and mild winters, its positive long-term economic outlook and its high living standards.

Cyprus offers lifestyles for all tastes and expectations.

It could be at the same time the appropriate place for a quiet retirement, for a vibrant and cosmopolitan lifestyle, for acquiring high standard academic education, for business activities and investments, for sporting and cultural events and it is all beautifully enhanced by the country’s fantastic and modern infrastructure.

Cyprus also offers the best probably tax environment in the EU (lowest corporate tax, no capital gains on shares and virtually no inheritance tax) and a stable free market-high income economy, appropriate to serve an international community which chose Cyprus either as a new home or as a new business base.

The main economic activities on the island are the real estate industry, the business and professional services industry (company registration, tax and fund management etc), the maritime and tourism sectors, trade and investment, agriculture and manufacturing.Since its independence from Britain in 1960, the Cyprus economy went through various stages of solid growth but also through two main shocks, one in 1974 with the Turkish invasion and the occupation of 36% of the island which still stands today, and in 2013 when Cyprus faced a big financial crisis which required the financial intervention of the EU and the IMF. Thanks to its people’s reform efforts and resilience, Cyprus has come out of the crisis and today with a restructured economy is characterised by a healthy banking system, with one of the highest economic growth rates in the EU and the restoration of investors’ confidence with its economy return back to an investment grade rating.

Among the main challenges for the country today great highlights are the wise management of its energy resources discovered in its Exclusive Economic Zone and the final settlement of the Cyprus problem both of which are expected to open new economic prospects and opportunities.

Cyprus offers significant prospects and high quality options for most tastes and viewpoints and with attributes such as its rich history and its geopolitical advantages the country justifiably faces the future with great optimism.

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