Cyprus: One of the best countries to invest in right now. (Copy)
In the last years, Cyprus has been dynamically gaining world-wide attention and growing in popularity as a modern and cosmopolitan business hub offering numerous investment opportunities across a wide range of industries.
In addition to its attractive business and investment opportunities, the Country’s premium location (being on the crossroads between Europe, Africa and Asia), excellent quality of life, overall safety and favorable climate, make it an attractive destination not only for business but also as a holiday and second-home destination for many internationals.
Here is the key factors that we believe position Cyprus as one of the most attractive places to invest in right now.
Top 6 Reasons to Invest in Cyprus:
1. Low Taxes: Cyprus offers some of the lowest and most attractive and transparent corporate tax rates in Europe (12.5%).
2. Government Support to Foreign Investors : In the last years, the Cyprus Government has rolled out numerous competitive incentive programs to attract investments and is constantly improving the speed and procedures of all its regulatory systems reducing bureaucracy and making it simpler and faster to set up a business or buy real estate.
3. Strategic Location: Cyprus is at the crossroads of Europe, Africa and Asia, and in close proximity to Middle East, Russia, Central Asia and the Far East. This provides an easy access to major markets.
4. One of the fastest growing EU economies: Robust GDP growth year on year and positive macroeconomic forecasts.
5. One of the best places to live in: Considered to have one of the best climates worldwide, most blue flag beaches per capita in the EU, and named Top 5 safest country in the world (Value Penguin, 2015)
6. A Point of Entry for Europe: Cyprus serves as an ideal point of entry to the EU for non-EU companies. Cyprus, as the EU Member State and Eurozone Member that’s in the crossroads of so many countries, and with lowest tax regime in the EU can act as the perfect gateway for companies to do business from and within the EU Single Market. Many foreign companies have already established presence on the island via the establishment of regional headquarters or remote offices.
Top 5 Fastest Growing Industries to Invest in Cyprus:
1. Real Estate
With a number of Government-led incentives for foreign investors and an overall high quality of lifestyle and climate offered on the island, the demand of Real Estate has been growing dynamically in the last years making it one of the most booming sectors of the Cyprus economy.
Closely linked to the growth in demand for construction and real estate is the Tourism sector of the island. Being one of the country’s strongest economic sectors with a significant contribution to its GDPR and with constant focus on improvement, Cyprus currently has numerous large-scale projects in development including luxury resorts, casinos and marinas.
2. Startups
Having amongst the lowest business set-up costs and labor costs in Europe, Cyprus has a rapidly growing Startup Ecosystem. The Cyprus Government is actively involved in nurturing an Entrepreneurial and Innovative Spirit and has numerous grants and incentive programs available to startups as well as favorable tax regimes (as low as 2.5% for companies producing Intellectual Property).
3. Investment Funds
Tax benefits for Investors and Fund Managers paired with a a modernized and efficient banking sector, legislative and regulatory systems have led to Cyprus becoming one of the top emerging investment funds centres in Europe.
4. Shipping
Due to Cyprus’ strategic location and long history and heritage connected to the Maritime Industry, the island has managed to position itself as one of the leading international maritime clusters. It’s advanced maritime infrastructure is considered as one of the world’s most reliable and competitive centres offering the most advantageous legislative, tax and regulatory regimes as well as some of the highest quality services in the industry.
5. Energy
Recent discoveries of promising and sizeable reserves of natural gas in Cyprus’ Exclusive Economic Zone (EEZ) have attracted world-wide attention by leading corporations positioning the island as a rising Energy Hub in the Mediterranean.
Emerald Group of Companies have been based in Cyprus since 2000 and have been actively involved in attracting foreign investments to Cyprus with a track record of many successful projects in various industries.
Click here to find out more about how Emerald Group can support you in your investment process in Cyprus.
Sources for this article:
• Press and Information Office of the Republic of Cyprus (www.pio.gov.cy)
• Cyprus Investment Promotion Agency (www.investcyprus.org.cy )