Cyprus is a rapidly developing country that offers a great location to anyone looking to start up a business abroad. Its optimal geographic location, highly educated and hard working labour force, healthy economy and relaxing climate make it a very appealing location for businesses to locate in.
Many American, European and Asian enterprises have already chosen to locate their headquarters in Cyprus due to some of the incentives offered to foreign start-ups, which include taxation incentives, government grant incentives and great transport and communication links. Since Cyprus joined the EU, other EU citizens can now start a business in Cyprus without any restriction such as needing a Cypriot partner. Cyprus’ most dominant industries are tourism, leisure and property. As a very popular and beautiful holiday destination, there is a great need for services such as accommodation and entertainment. It is recommended that before starting a business in Cyprus you contact a local lawyer who will understand the local industry in great depth and be able to help assist you with your business plans.
