Cyprus Facts


Lying at the crossroads of Europe, Asia and Africa, Cyprus has long served as a major Eastern trading post. It is a small country, but the 3rd largest island in the Mediterranean Sea. With 10,000 years of history, the island’s strategic location has long made it a jewel in the crown of the powers of the day. Cultural influences have come from all directions, with many civilisations leaving their mark on the island, contributing to the development of a rich and cultural heritage.


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CURRENCY
Euro

OFFICIAL LANGUAGES Greek & Turkish

(business generally conducted in English)  

MEMBERSHIPS

EU & Eurozone United Nations Council of Europe Commonwealth World Bank & IMF

TOTAL POPULATION 940,100

Cypriot 74.5% Non-Cypriot 25.5%
TIME
+2 Hours

Ahead of GMT
Area/Size
9,251km2

(3,355km2 in the
occupied area)
Sunshine
340 days of sunshine/year
Population density
124.9

(persons per km2)
Bright Sunshine Hours/day
5.5 Winter
11.5 Summer
Annual Rainfall
790.1mm
Average Temperature
+13°C Winter
+34°C Summer
Low crime rate
Cyprus has lowest crime rate in EU

Cyprus at a glance

32nd
Open markets index 2015
International chamber of commerce
(out of 75 countries)
 
31st
Global innovation index 2016
INSEAD and the World Intellectual Property organisation 
(out of 128 countries)
48th 
Economic Freedom index 2017
Heritage Foundation 
(out of 180 countries)
48th 
Economic Freedom index 2017
Heritage Foundation 
(out of 180 countries)
4th
Higher 
Education 
and training
28th
Goods 
market 
efficiency
34th
Labour 
market 
efficiency
45th
Technological readiness
65th
Competitiveness

World Economic Forum Report 2015-2016 (out of 144 countries)


 

Main Trading Partners:

  • Russia
  • China
  • UK
  • Greece
  • Germany
  • Italy
  • Israel
  • France


Why Cyprus?

 
A can-do business environment  
Pro-business government  
Easy access to decision makers  
Highly skilled workforce  
  A safe and cosmopolitan lifestyle
  Excellent infrastructure
  Advantageous tax regime
  Amazing location  

Credit Rating (2016)


 
Standard & Poor's

 
Fitch

 
Moody’s
1st
1st among smaller Countries

5th Worldwide Value Penguin Safest Countries in the World Study 2015


5th 
5th best relocation destination

Knight frank Global Lifestyle Review (out of 23 countries)
47th
World Bank’s 2017 Doing Business
Report (out of 190 countries)




13th
Global Passport Power Rank 2017
144 Visa-Free Countries
12.5% 
 Corporate Tax  
18th 
Bloomberg 2017, Heathiest Country Index