2023 Doing Business in Cyprus (India Edition)

More documents

Info

DOING BUSINESS C YPRUS 28 INDIA EDITION PORTS AND SHIPPING The 2017 commercialisation of the country’s largest port in Limassol marked a new era for Cyprus as a commercial hub. The port privatisation came amidst the first discovery of natural gas in 2011, the launch of the €300 million VTTV oil trading terminal in 2014, and a dedicated Shipping Deputy Minister in 2018. The privatisation deal with Eurogate International GmbH and leading Emirati logistics giant DP World Limited is projected to boost state coffers with €2 billion over the next 25 years, while the new port operators have injected millions in upgrading services and infrastructure. Larnaca port is expected to have a new terminal by 2027. The contract for the Larnaca IThe growth of Cyprus’ resident port and marina was awarded to Kition Ocean Holdings Ltd, a Cypriot-Israeli consortium comprising Eldeman Holding shipping sector over the BV and Alexandrou Corporate Services past 50 years has developed Ltd, in late 2020 and Phase 1 works will begin in 2024. The marina is expected to a strong maritime cluster attract around €1.2 billion in construction that caters to the needs of and real estate development – making it one of the biggest infrastructure Cyprus-based companies, investments to date in Cyprus. including banking, professional One of Cyprus’ most successful export services has been the maritime industry, services, insurance, and IT. which now has a dedicated Deputy Ministry of Shipping. The growth of Cyprus’ resident shipping sector over the past 50 years has developed a strong maritime cluster that caters to the needs of Cyprus-based companies, including banking, professional services, insurance, and IT. The cluster is consistently attracting more quality tonnage and shipping-related companies to its shores. Between 2010 – when the Cyprus tonnage tax system was approved by the European Commission – and 2021, there has been more than a fivefold increase in the number of shipping companies that have registered with Cyprus’ specialised shipping taxation system, boosting the sector’s revenue by around 25%. Also, a new limited
Focus & Experience For more than 40 years, leading financial institutions, professional advisors, asset managers, family offices and international businesses have turned to us for the provision of independent corporate, trust and fund administration services. Clients rely on our worldwide presence, local knowledge and our commitment to responsiveness, reliability, attention to detail and personal service. Contact us to discover how our global reach, experienced professional personnel, tailored services and on-the-ground presence can make a difference to you and your clients. Contact: Andreas Mercouri Managing Director, Cyprus amercouri@tridenttrust.com +357 258 20 650 TRIDENTTRUST.COM
Page 1 and 2: TheProfilerGroup DOING BUSINESS CYP
Page 3 and 4: The New Equation The New Equation i
Page 5 and 6: Residents will leave their apartmen
Page 7 and 8: There are new competitors with a fr
Page 9 and 10: DOING BUSINESS C YPRUS 9 INDIA EDIT
Page 12 and 13: DOING BUSINESS C YPRUS 12 INDIA EDI
Page 44: DOING BUSINESS C YPRUS 44 INDIA EDI
Page 65 and 66: The World of Capital Markets in Asi
Page 71 and 72: “WE ENRICH THE LIVES OF THOSE WHO
Page 80 and 81:
DOING BUSINESS C YPRUS 80 INDIA EDI
Page 82:
Page 85 and 86:
Page 87 and 88:
Flavours oF Cyprus ts@meci.gov.cy w
Page 89 and 90:
THERE IS A PLACE WHERE… you have
show all

2023 Doing Business in Cyprus (India Edition)

Create successful ePaper yourself

Delete template?

Save as template?