Services, tourism, shipping and a growing tech and finance sector: what defines the Cypriot economy and why it attracts entrepreneurs.
The economy of Cyprus is clearly dominated by the service sector, which accounts for most of economic output. Important pillars are tourism, financial and business services, real estate, shipping and increasingly technology and international business services.
After the financial crisis of 2012/2013 the country recovered significantly and showed solid growth in the following years. Low business taxes, EU membership and English-language business practice make Cyprus a popular location for holding companies, international service providers and online businesses.
| Economic structure | Predominantly services |
| Key sectors | Tourism, finance, shipping, real estate, tech |
| Currency | Euro (since 2008) |
| Corporate tax | 15% |
| Business language | English |
| Time zone | Bridge between Europe and the Middle East |
One of the most attractive corporate tax rates in the EU and the non-dom status for owners.
A hub between the EU, the Middle East and North Africa – ideal for international business.
More and more IT, fintech and gaming companies are settling, especially in Limassol.
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