Cyprus, a country on an island located in the eastern Mediterranean Sea, has a dynamic and flourishing economy. It is one of the most ancient pieces of land where evidence of human activity is found, dating back to almost 10 million years!
Today, Cyprus offers state-of-the-art transportation and modern deep seaports making it an important fixture in the global nautical supply chain system. The government’s efforts to convert the country into resourceful telecommunication via submarine fiberoptic system have started to yield benefits, making it a regional communication hub.
Progressive government policies combined with the geographic location of Cyprus are a big attraction for local and international investors alike; let’s explore what investment opportunities the country has to offer.
Cyprus investment program
International investors can invest in Cyprus through this state-run program. Non-Cypriot companies and individuals have to satisfy the economic criteria and obtain citizenship. Note that the country’s constitution allows a person to hold and maintain multiple nationalities.
Tourism
Cyprus offers sights and sounds like no other place on earth. Ancient structures, bustling markets, golden sandy beaches, and lots and lots of sun are perfect ingredients for an unforgettable vacation.
Hundreds of Hollywood movies have been shot in Cyprus because of its unique settings, and the government is keen to attract international producers by offering incentives and packages to choose Cyprus as a film destination.
If you have the passion and investment; if not the entire hotel, even owning or leasing a hotel apartment and subletting it on monthly basis is a safe way to enter into the hospitality business. There are other innovative ways to cater to tourists, such as opening a rental electrical scooter service, a multipurpose vending machine chain, etc.
Startups
Modern society is a matrix of connected handheld devices. Services and products are just a click away. The room for innovation in terms of cloud-based application services is infinite; new startups such as food ordering apps, instant laundry services at clients’ residences, city tours in exotic supercars, etc.,
The government allows special incentives and applies little to no tax on innovative products and services to encourage bright and young investors to explore possibilities and make fortunes.
Investment funds
Cyprus has emerged as Europe’s investment fund center in recent years. Focusing on the high-growth sectors of the economy such as power & energy, shipping, real estate, construction, etc. Tax benefits, incentives, and relaxed policies allow international investors to flock to the opportunities offered. Relaxed policies should not be confused with discrepancies and irregularities, the government has a strict check and balance system that ensures the investment comes from legal sources, is invested in state-friendly activities, and the profits are rightfully gained.
Shipping
Over the years Cyprus has transformed its ports into world-class shipping centers. Offering reliable services, advanced infrastructure, competitive registration fees, and tax incentives. Most of the maritime traffic passes through the Mediterranean route; from Suez to Gibraltar. Due to its extraordinary geographic location, Cyprus is aspiring to become an accredited transshipment hub for the region. Meaning that cargo from various Black and Mediterranean Sea countries can be sent to Cyprus, from where they can be rerouted to countries like Egypt, and other Mid-east countries using smaller vessels and SSS operations.
Any investment that contributes to the process of shipping in Cyprus promises returns in the short and mid-term. Individual investors can join as partners in one of the many leading shipping businesses centered in the country or look for more innovative and low capital opportunities; a cold storage service, or re-packaging facility, etc.
Energy & power
New and promising prospects opened for Cyprus after the discovery of hydrocarbon deposits. Internationally leading energy giants to have their eyes set up on Cyprus for exploration and distribution. Cyprus too has developed as a regional fuel hub operating a sophisticated and advanced oil terminal at Vasilikos. The terminal provides refueling and connectivity between Europe and the Black Sea with Mid-east and Asia.
Moreover, Cyprus has utilized its geostrategic location by establishing itself as a thriving international business hub. A vast array of opportunities in key growth sectors of the economy, high quality of living, and nature, position Cyprus as the perfect choice to relocate and invest.
