About the Cyprus Investment Promotion Agency

Established with a Council of Ministers decision in 2007, the Cyprus Investment Promotion Agency is a registered not-for-profit company limited by guarantee and fully funded by the Government of Cyprus. The Board of 15 Directors (12 from the private sector, 2 from the public sector and 1 from the Central Bank of Cyprus) was appointed for second time in November 2011 for a 4-year term.

Operating since January 2008, the Cyprus Investment Promotion Agency has a threefold mandate:

• To promote Cyprus as an attractive international investment centre in key priority growth sectors
• To advocate reform in Cyprus required to improve the regulatory and business environment and infrastructure
• To provide investor support with after care and further development services

CIPA succeeds the efforts of the Foreign Investors Centre at the Ministry of Commerce, Industry and Tourism and takes the lead in attracting foreign direct investment in conjunction and partnership with the private sector and related government organizations and agencies.

CIPA has established its membership with the World Association of Investment Promotion Agencies (WAIPA) and Med-Invest, the Mediterranean Countries’ Investment Promotion Agency Foundation. Memberships in these and other fora provide a platform of best practices sharing and learning in the area of FDI promotion and strategy implementation.

CIPA is actively involved in advocating key reforms to remove hurdles and strengthen the regulatory and business environment in Cyprus which is fundamental requirement to attract and retain foreign direct investment, especially in an increasingly competitive global economic framework.

The CIPA team is dynamic and tightly knit with a broad array of expertise both locally and globally. CIPA encourages foreign businesses to explore opportunities for investment in Cyprus.

For more information contact CIPA at:

Severis Building, 9 Makariou III Ave. 4th Floor,

Nicosia, 1065 Cyprus
Tel.: +357 22 441133
Fax .:+357 22 441134
E-mail: info@cipa.org.cy
www.cipa.org.cy

Point of Single Contact (PSC) - Cyprus

PSC Cyprus has been established based on the decision of the Council of Ministers for the upgrading and the expansion of the existing One-Stop Shop operating within the Ministry of Commerce, Industry and Tourism in order to serve as the Point of Single Contact, as provided in the Services Directive.

The PSC Cyprus is meant to become the single interlocutor, by fulfilling the coordinating role, between service providers and authorities, for the completion of the relevant procedures and formalities. These formalities are required by law in order to have access to, or exercise of a service activity, whether through the establishment of a business or by providing services across border from another EU member state.

The PSC Cyprus portal, http://www.businessincyprus.gov.cy, serves businesses and entrepreneurs, whether established in the Republic of Cyprus or in other EU member states, interested in pursuing their business aspirations in Cyprus. The portal providers comprehensive information relating to the procedures and formalities required for the access to, and the exercise of, service activities in the Republic of Cyprus, online submission of application forms, tracking the progress of applications submitted, and receipt of decisions. Moreover, through the physical PSC Cyprus, general information and guidance to investors interested in establishing their business activities in the Republic of Cyprus in any sector of activity as well as the completion of relevant procedures such as Company registration, VAT Registration and Income Tax Registration are offered.

The Point of Single Contact serves both local and foreign based companies. It provides one single contact regarding: