2023 Doing Business in Cyprus (UK Edition)

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DOING BUSINESS C YPRUS 18 UNITED KINGDOM EDITION STRONG FDI FLOWS Cyprus’ FDI appeal has been on an upward trajectory thanks to a robust economy. Real GDP growth averaged 4.6% in 2018-2022 despite the Covid-19 pandemic. For the last several years, Cyprus has been a hive of activity with several notable projects already implemented or in the pipeline, strengthening the country’s image and appeal. Foreign investment flows have been significant. In the ten-year period 2013-2022, net inflows reached €13.5 billion. This investment was driven by equity, with real estate, communications and headquartering playing a significant role. Ongoing improvements in the macroeconomic and financial environment have also revived international interest in around 30 major development projects on the island. Investment opportunities in Cyprus’ large-scale projects span various sectors, including high-value tourism and housing developments, projects with a special focus on golf courses and luxury marinas, as well as education, energy, and more recently the international film sector. The growth performance of Cyprus over the last five years has been exceptional and even exceeded international expectations, while successive credit rating upgrades and new incentives have attracted billions in foreign investment, with significant inflows from the US, Asia, and the Middle East. Cyprus’ liberalised Foreign Direct Investment Policy, both for EU citizens and investors from third countries, along with its favourable tax regime makes it one of the most attractive centres for FDI in Europe. Parklane Limassol BUSINESS AND PLEASURE Offering a professional yet relaxed atmosphere that makes doing business pleasurable as well as profitable, Cyprus’ Mediterranean lifestyle coexists happily with a cutting-edge international business hub, allowing investors to enjoy the best of both worlds: a safe and comfortable environment for family life and a sophisticated infrastructure from which to grow and develop business. Cyprus combines numerous advantages as a business base with its EU-approved tax regime, competitive 12.5% corporate tax rate and tax breaks for high earners, its pro-business government and highly skilled workforce – as well as promising growth and development across numerous economic sectors. With Cyprus’ prospects on the rise, the country has all the right elements firmly in place to strengthen its reputation as an international centre of business excellence in one of Europe’s most interesting investment locations. n
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
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2023 Doing Business in Cyprus (UK Edition)

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