Synopsis

Cyprus is an island situated in the north eastern Mediterranean Sea at the crossroads of Europe, Asia and Africa. The capital city is Nicosia, which has a population of about 200,000 people.

Cyprus gained independence from Britain in 1960 and adopted a presidential system of Government with elections for the President taking place every 5 years. In 1974 Turkey invaded Cyprus and has since occupied the northern 40% of the island although discussions are currently taking place with a view to reunification of the island.

The official languages are Greek and Turkish but English is widely spoken and is the language mostly used in business, government and the courts. Laws are based on the English legal system and company law is modelled on the UK Companies Act 1948. In addition, Cyprus is expected to be a full member of the European Union in 2004. Communications are excellent.

A CYPRUS INTERNATIONAL BUSINESS COMPANY

A Cyprus international business company is defined as an otherwise normal Cyprus company which is owned by non-residents of Cyprus and does business exclusively outside the island. Such a company has the following characteristics:

 

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Last reviewed: Saturday, July 01, 2006

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