This first edition of Doing Business with the Republic of Cyprus is the definitive guide to business practice and commercial opportunities in Cyprus, providing authoritative and practical advice for any organization planning or currently investing and trading in Cyprus.

In recent years Cyprus has developed into an international centre for transit trade, tourism, international business and maritime activities as well as banking and business services. This successful transformation process was based on the exploitation of the comparative advantages of Cyprus. The most important are the strategic geographic location of the island, the prevalence of conditions of macroeconomic stability and social cohesion, the high quality of life, the high educational level of its manpower, the favourable fiscal environment, the low by international standards cost of living as well as the modern infrastructure and telecommunications. In fact an increasing number of businesses from all over the world are presently using Cyprus as their base and are establishing joint ventures with the locals. Furthermore, the strength and dynamism that characterizes our business community is another major factor which encourages foreign investors to co-operate with Cyprus and consider it as a potential business partner.

With accession to the European Union set for May 2004, the Government of Cyprus is exerting a major effort to encourage increasing levels of foreign investment across the economic spectrum. Thus the time is ripe for international business to examine closely what Cyprus has to offer. This applies to the whole spectrum of industry, from banking, finance, insurance and manufacturing (especially high technology), to tourism, international trade and shipping. This applies equally to companies simply seeking a base for exploring the eastern Mediterranean and eastern Europe, with both of which Cyprus has a close affinity.

Information for this book and the Web site has been supplied by a unique network of contacts in Cyprus including the Central Bank of Cyprus, Chrysses Demetriades & Co. Law Office, the Cyprus Stock Exchange, and the Cyprus Securities and Exchange Commission. Other valuable sources include local offices of Deloitte & Touche.

Topics covered include:

This first edition of Doing Business with the Republic of Cyprus will provide the business person with the latest information on the country’s markets. This indispensable guide contains a wealth of practical information and expert analysis from professionals operating in Cyprus.

Online support service:
A unique user password supplied with this book allows readers to access a complementary Web site. This provides easy access to the material in a clear searchable format. It also allows the contributors and publisher to keep readers up to date with latest developments and to update chapters as and when it is relevant.