Sprawling in the midst of Europe, Africa and Asia, Cyprus is the ultimate destination for tourism and business. With a cosmopolitan mix of cultures and architecture, Cyprus is truly the “Jewel of the Mediterranean”.
Famous for its white sand beaches, which count among the most beautiful in the world, and its crystal-clear bathing waters, Cyprus offers a wealth of amenities, a warm Mediterranean climate, and a relatively low cost yet high standard of living compared to similar destinations around the world.
From golfing to yachting and hiking, the country also provides a slew of sporting pursuits. Recently emerging as a top destination for golfers, Cyprus boasts several five-star facilities situated in spectacular locations. Additionally, the mountain cluster dotting the centre of the island offers a reinvigorating retreat for cyclists and hiking lovers looking for cooler alternatives to the heat-bathed beaches.
Thanks to its service-based economy and relaxed taxation system, Cyprus provides the ideal setting for businesses to thrive. The island also provides a safe and stable environment for families with children and students to develop.
Although shattered by the economic headwinds of 2008 and 2012, the country is quickly recovering, thanks to its robust shipping industry, hospitality, financial and legal services sectors. With considerable natural gas resources recently discovered in its coastal waters, Cyprus emerges as a strategic energy hub in the Eastern Mediterranean, attracting significant foreign investment.
In addition, the country has seen a spike in the demand for property in recent years, thanks to the affluent expats attracted by its prolific business sector and warm Mediterranean weather. With an up-and-coming realty sector, the island stands out as a next-gen property and real estate development hot spot.
There are many reasons why Cyprus is an economy worth investing in. Not only is the weather “summery” for most of the year, but also the taxation rate is relatively low compared to other EU countries.
Although Greek is the official language, English is also widely spoken and used in administration, making it easy for foreigners to establish a business. The people are friendly and welcoming, while generally, life tends to be more laid-back, without the hustle and bustle you would expect from a fast-paced economy.
Furthermore, with a legal system mimicking that of the UK, the process of buying a property or investing in the real estate sector is just as smooth and rewarding.