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ABOUT CYPRUS

A closer look at Cyprus will prove how its accession to the EU has launched a new era of commitment to its growth due its diversified culture and its unwavering values of democracy.

Cyprus offers an advantageous tax system for international business. The uniform corporate tax rate of 10 per cent is the lowest in the EU.

Cyprus's strategic location at the crossroads of three continents has been a major factor in shaping its history throughout centuries and its development into a major Eastern Mediterranean Trading port as well as a reputable international business and service center, renowned for its advanced telecommunications network and infrastructure with more than 33 Airlines operating flights with highly qualified and multi-lingual labour force.

Its profound reputable international shipping centre ranks among the 10 leading maritime nations in the world with a merchant fleet exceeding 21 million gross tonnage and 2000 vessels.

Its efficient legal, accounting and banking services have also played a major role in the global economy growth of the island; Cyprus stands today as one of the most attractive locations for foreign investments ranking among the front runners of the world proving both high FDI performance as well as FDI potential based in the latest World Investment Report of UNCTAD published in 2006- allocating 6 per cent of GDP of public expenditure on education since 2004.

The Republic of Cyprus is actively involved in a number of International Organizations including the United Nations, the Inter- Parliamentary Union, the International Monetary Fund and of course the European Union and its sub- organizations.