2020 Cyprus Country Report

Headquartering
EASTMEDHQ
Cyprus’ appeal as a convenient international headquartering
location is gaining momentum. Its stable business environment
and emerging prospects in multiple sectors, strategic EMEA access
and excellent quality of life are just a few of the many reasons why
companies are relocating their strategic operations to Cyprus.
The Oval, Cybarco
A
key attraction to set up headquarters
(HQ) in Cyprus is the country’s good
relations in the region and its convenient
access to both the EU’s single market of
over 500 million people and markets of
the Middle East, Asia and Africa. The country’s
government and private sector have recognised
the growing appetite of companies and have been
expanding the list of incentives to attract more
headquarters to its shores and establish the island
as the ideal East Med HQ base.
An added boost has come from the strong
economic growth and investor confidence of the
past few years, and emerging prospects in the
real estate, investment fund, shipping and energy
sectors. Another area where Cyprus ticks all the
boxes for companies seeking a regional base, is
its efficient and transparent legal and regulatory
framework, modern banking sector, and its competitive
EU-approved corporate tax regime. This
coupled with the relatively low set-up and operational
costs, convenient time zone and various
tax breaks for expat executives have created a
winning combination for decision makers.
GLOBAL REACH
Cyprus’ can-do attitude, easy access to decision
makers, and wide range of services make running
a multinational business a smooth task. Its geographical
location in the Eastern Mediterranean
at the crossroads of three continents has long
played a pivotal role in influencing the country’s
destiny and prosperity – and has fostered close
cultural and business relationships with countries
in the region. The island has good air connectivity
through two international airports and
sophisticated ports to support operations, as well
as excellent satellite and telecommunications infrastructure.
34 Country Report CYPRUS 2020