Message from The Minister

During the past few years, Cyprus has developed into a favorable foreign direct investment destination.

The development thus far is the result of several key drivers coming together and providing a solid foundation for sustainable growth.

These key drivers include the strategic geographic location of Cyprus, perched at the crossroad of three continents, the continued economic stability and steady economic growth rates over 3,5% per year, and the memberships in the European Union in 2004 and the European Monetary Union in 2008. Moreover, the highly favorable tax regime combined with a well educated, multilingual work force employed in wide array of professional services in areas such as taxation, law, banking and finance, also provide the fundamental components of a favorable environment for foreign direct investment.

In addition, the beautiful Mediterranean island setting, the exceptional weather and the warm hospitality of Cypriots, coupled with a secure and high standard of living, compose an even more welcoming destination to live and work.

In order to best articulate this favorable framework and highlight the opportunities and advantages Cyprus can offer to investors, we established the Cyprus Investment Promotion Agency (CIPA). This Agency succeeds the efforts of the Foreign Investors Service Center at the Ministry of Commerce, Industry & Tourism and takes the lead in attracting foreign direct investment, advocating reform in the business environment, and providing investor aftercare services, in conjunction and partnership with the private sector and related government organizations and agencies.

On behalf of the Ministry of Commerce, Industry & Tourism, I reiterate our unwavering commitment and support to the efforts of CIPA to fulfill its mission and welcome your interest to explore investing and living in our country.

Antonis Paschalides
Minister of Commerce, Industry and Tourism

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