Cyprus is situated in the Eastern Mediterranean at the cross roads of three continents. The island's strategic location has shaped its history and civilization throughout the centuries.
The Turkish invasion of 1974 left some thirty seven per cent of the northern part of the island under Turkish occupation but it did little to interrupt the unparalleled period of growth and commercial expansion which followed independence. However, due to the authorities' expansionary economic policy and the initiative and enterprising spirit of the private sector, social and political security continues to form the cornerstone of Cypriot society. Even though the Cyprus problem has not yet been solved, the rule of law and political stability in the Republic of Cyprus are guaranteed by the efficient functioning of democratic institutions and by the dynamic economic development.
Its excellent infrastructure, high quality of life, low cost of living and generous tax incentives attracts people to the island from all over the world. Cyprus is an island of tradition, charm and romance.
With 9000 years of legend and history there is much to enchant you. Mountainous villages, crystal clear waters, sandy beaches, green valleys and beautiful landscapes, all bathed in sunshine for 340 days each year.
The primary language of the island is Greek but seeing it was once a British colony 80% of the population speak English.
In addition, the island shares the same time zone as other major centers in the area and is also within easy traveling distance of the rest of Europe and the Middle East. The international airports at Larnaca and Paphos offer daily flights to all major destinations in these areas.
Cyprus joined the E.U. on May 1st, 2004 and converted to the base currency the Euro (€) on 1 January 2008. Cyprus already exports 50% of its products to the E.U. and can expect to be transformed into a regional business centre, as it has a democratic system of government, a free market economy, excellent telecommunications with direct dialling to over 200 countries, a favorable tax regime, bilateral investment agreements, double tax treaties and a strategic location at the crossroads of three continents.
The legal system in Cyprus is mainly based on the Anglo-Saxon legal system.
Cyprus has one of the most advanced and reliable systems of operation for The Land Registry Department in the world. All contracts and other paper work are in English. Purchasers of property in Cyprus will therefore be far more secure with regard to their title deeds, than they might be in another country.
Furthermore legal fees/costs are reasonable and much lower than in other European countries.
The banking system in Cyprus closely follows the British pattern and is well developed and organized whilst being equipped with the latest technology in modern surroundings.
Non-Cypriot citizens have the privilege of opening foreign currency and local deposit accounts very easily.
Many Cypriot Banks have branches throughout the world. International Banks also have branches throughout the island for the convenience of their customers, with major credit cards like Visa, Diners, and American Express being widely used.
Cyprus Banks offer flexible housing loans in foreign currency to suit a client’s needs.