TAX SYSTEM
HUMAN TALENT & LEVEL OF SERVICES
LEGAL AND REGULATORY FRAMEWORK
MACROECONOMIC PROSPECTS & OPPORTUNITIES
QUALITY OF LIFE

SOME INVESTMENT SECTORS
RENEWABLE ENERGY

Cyprus through its Energy policies is committed in protecting the environment, fostering healthy competition and encouraging the development of renewable energy technologies and production.
Cyprus although late in kicking off, has achieved significant progress in the production of energy from Renewable Energy Sources (RES). The most important projects relating to power generation from RES concern wind parks and photovoltaic parks with several Biomass projects too.
- The energy policy of Cyprus is harmonized with that of the European Union. The main aspects of the energy policy include:
- The liberalization of the electricity sector.
- The implementation of programmes related to the use of energy conservation, technologies the utilization of ingenious RES and the protection of the environment from industrial pollution;
- The RES target is to supply at least 13% of the country’s energy by 2020;
The objective, as per the National Action Plan issued by the Ministry of Energy, Industry, Commerce & Tourism, is to reach a minimum capacity of 584MW by 2020, which will be equal to 16% of the total electricity production in Cyprus and 3% higher than the target set by the EU.
In this respect, the production of energy from RES is expected to experience considerable growth in the years to come since significant investment is required in order for Cyprus to achieve the targeted capacity as per the National Action Plan.
OIL & GAS SECTOR

The recent discoveries and the potential of further findings of world-class deepwater natural gas reserves in Cyprus Exclusive Economic Zone has attracted a lot of attention from potential international investors, while bringing new and exciting opportunities to the energy sector itself. With the energy developments in neighboring countries, the prospects may be there for Cyprus to become an energy hub in the Eastern Mediterranean offering through its strategic positions numerous advantages which are enhanced by its political and economic stability.
Presently, exploration licenses have been granted for several offshore blocks within Cyprus’ Exclusive Economic Zone to internationally renowned oil & gas companies such as TOTAL, EXXON MOBIL, ENI, QATAR PETROLEUM, NOBLE ENERGY and their partners. The Government of Cyprus is continuing its negotiations concerning the infrastructure requirements necessary for bringing the natural gas onshore for local consumption, as well as liquefaction for export into Europe and other markets.
Petroleum Storage and Distribution Terminal
The construction of a private €300m storage and distribution terminal in Cyprus connecting the country with the vibrant trading areas of South East Europe, Asia and North Africa, with a total capacity of 858,000 cubic meters has been completed thus adding a tangible and real facility to the local energy sector.
INFORMATION & COMMUNICATION TECHNOLOGIES

ICT is an important driver of productivity, growth and economic performance crossing horizontally all sectors of the economy. The government of Cyprus has identified ICT as one of the country’s priority growth sectors and has developed a Digital Strategy and Action Plan for immediate implementation.
Main advantages and opportunities of the ICT sector:
- ICT Ecosystem
- Major multinational firms in the ICT industry *
- Joint R&D among countries of the region
- Skills and Expertise: Existing knowledge base and available expertise of highly educated and experienced resources
- EU Research Funds: As an EU member state, Cyprus attracts EU research funds for Industry-University partnerships. The Cyprus Investment Promotion Agency acts as a catalyst for the provision of advanced R&D infrastructures and Cypriot talent to foreign companies,who wish to establish Industry-University partnerships with the Cyprus network of Universities and Research Centers.
Cyprus welcomes and has the know-how to support Foreign Direct Investment for expansion and development of projects on e-Government, e-Business, e-Learning, e-Inclusion, e-Health and overall ICT services. The country has aligned its ICT and innovation strategy with the flagship initiatives “Digital Agenda for Europe” and “Innovation Union” of the “Europe 2020” growth strategy of the EU.
PROPERTY INVESTMENT-PERMANENT RESIDENCY

The Real Estate industry has been one of the key growth areas for decades, representing a significant portion of the country’s GDP.
Cyprus offers unique incentives for holiday or permanent homes. Its 326 days of sunshine and its enviable lifestyle, the island is a proven popular destination.. At the same time, a number of large-scale development projects, ranging from residential to commercial projects including marinas, golf courses and theme parks, are under development.
- Non-EU residents have the opportunity to acquire a Permanent Residency permit with the purchase of a private home of at least €300,000 and deposits of minimum €30,000 in a local bank for three years. The attractiveness of the scheme, however, goes further and offers two or three permanent residency permits for one family, with the purchase of a house at the corresponding price.
- Non-EU residents can acquire Cypriot nationality with: investment of a minimum €2 million through the purchase of shares and/or bonds of the National Investment Company and €500,000 investment in the Research and Technology Fund; or through direct investments of €5 million; or through bank deposits of €5 million in a local bank for a period of 3 years; or through payments of corporate tax or VAT of at least €500,000 annually during the last 3 years (before the application has been made).
STRATEGIC LOCATION

Cyprus is Europe’s eastern outpost at the crossroads of three continents – Europe, Africa and Asia – providing a gateway to and from each one of them. The country’s geographical location has been considered of strategic importance in global trade for thousands of years.
Recently, the discovery of natural gas resources and possibly oil, has further upgraded the strategic importance of the island, which is also considered to be a stabilizing factor in the region’s political developments.
MEDITERANEAN LIFESTYLE

Cyprus is Europe’s eastern outpost at the crossroads of three continents – Europe, Africa and Asia – providing a gateway to and from each one of them. The country’s geographical location has been considered of strategic importance in global trade for thousands of years.
Recently, the discovery of natural gas resources and possibly oil, has further upgraded the strategic importance of the island, which is also considered to be a stabilizing factor in the region’s political developments.