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Why Invest in Cyprus?

EU Member State and Member of the European Monetary Union

On May 1st, 2004, The Republic of Cyprus became a full member of the EU. Cyprus successfully assumed the EU Presidency from July to December 2012.

Cyprus joined the European Monetary Union at the start of 2008. For many foreign investors Cyprus joining the eurozone meant that they could take advantage of the opportunity to freely access the EU market, while also benefiting from fewer risks, lower costs and increased price transparency across the eurozone.

A new climate of commitment to quality and growth in Cyprus arose through the accession to the EU and the eurozone. Furthermore, the country continues to encourage Foreign Direct Investment opportunities in priority economic growth sectors.
Cyprus actively participates in EU programmes, focusing on strengthening growth in various economic sectors, as well as entrepreneurship and innovation across sectors and processes.

Cyprus Citizenship and Permanent Residence for foreign investors

Cyprus Citizenship/Passport

Non-Cypriot investors can acquire the Cyprus citizenship by naturalization, following the decision by the Council of Ministers of the Republic of Cyprus dated 19th March 2014. The investor and his/her family can obtain a Cyprus Passport with the full rights of a EU citizen, such as free travel, residence and investment in any EU country.

Please refer to the below links for full details:

Permanent Residency Permit


Cypriot Citizenship



Deposit Protection Scheme

• AJIB Cyprus Branch as a licensed Credit Institution authorized by the Central Bank of Cyprus since 1989 is also a member of the Deposit Protection Fund for Banks (DPF). The fund covers deposits of maximum EUR100.000 (or equivalent in other currency) per depositor per each credit institution, and compensates depositors in the event a credit institution is unable to repay the deposits of its customers, or in the event resolution measures are implemented.

Please refer to the below links for full details:

AJIB Cyprus Branch DGS Informative Leaflet


Central Bank of Cyprus - Deposit Guarantee Scheme

Hydrocarbon opportunities

The indications of the presence of significant quantities of hydrocarbons in the exclusive economic zone of Cyprus and the decision to proceed with their exploration may prove to be an exciting opportunity for the island and Europe. This discovery has further upgraded the strategic importance of the island.

The EU has its own ambitious energy objectives, as such with the first exploratory drilling underway, Cyprus, one of the smaller EU member states might have a regional role to play in the energy strategy of the Union.

Shipping

Cyprus enjoys an excellent geographical position which attracts International Shipping Companies. Some of the world's largest Ship Management companies have headquarters in Cyprus.

The ports of Limassol and Larnaca, which are the island’s main gateways for shipping and trade, were extended three times since their construction in the mid 70’s. Thus from being small traditional break bulk handlers exclusively serving the island’s imports and exports, Cyprus ports were transformed into container and cruise ports acting as hubs for international trade, shipping and passenger services.

The Cyprus Shipping Chamber is the trade association of the Shipping Industry in Cyprus. The Chamber was established in January 1989 with seventeen Founding members. Since its establishment it has witnessed considerable growth and the Chamber today comprises all the major ship owning, ship management, chartering and shipping related companies based in Cyprus. Today, the Chamber’s Member-companies located in Cyprus and the wider Shipping Sector in Cyprus, collectively employ around 4500 persons ashore and more than 55,000 seafarers of various nationalities onboard their vessels.

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