Economy of Cyprus : A quick look
The strategic location of the island being a bridge to 3 continents was an advantage from the ancient years and a very important factor regarding the economy of Cyprus. Many nations occupied Cyprus in history and used the location as a pathway to export goods to the 3 continents which are very near (Europe, Africa and Asia).
The economy of Cyprus is open and it’s a free market which enables various companies to be active in the market. The population of the island is well educated and English-speaking, the costs of life are moderated and there is a good airline system plus a modern international airport. According to some international studies, Cyprus is among the 25 best countries to live in based on the quality of life.
Two strong factors of the economy of Cyprus are tourism and services. These two areas have a great impact on the local economy since it is a summer hot spot for tourists. Business men who want to benefit from the tax and corporate environment that exists are constantly registering Cypriot companies and other entities.
In recent years, a major financial injection towards the economy is the investment in real estate by foreign companies and individuals. Through programs such as the Cyprus citizenship by investment and the Cyprus PR Visa, there was a serious cash flow injection that gave the country’s economy hope to see off the recent recession.
If you are interested to learn more about investing in Cyprus and the benefits you can obtain please contact us or give us a call to discuss.