Multinational presence

A significant number of multinational companies and international banking units are already operating in Cyprus, further enhancing the productive and positive nature of the national economy.

There are currently approximately 33 foreign banks and over 1200 International Business Companies (IBCs) with fully-fledged offices in Cyprus. The successful integration of the latest technology into the economy, the constant improvement of the island's infrastructure and the high quality of the Cypriot labour force, have turned Cyprus into a centre of international business, contributing significantly to the economic growth of the broader region.

IBCs have played a central role in the development of Cyprus as a world class business centre. The international business community has long maintained its confidence in Cyprus, building a strong presence in the country's economy. The community's interests are represented by the Cyprus International Businesses Association (CIBA).

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