Cyprus Business Landscape Overview 2016-2021: A statistical Analysis by Infocredit Group
Find out how the Cyprus business landscape has been affected in the last five years!
How has the Financial Crisis in 2013 and now the pandemic influenced registered companies in Cyprus? Is our country still an attractive business destination? It is known that Cyprus has a lot to offer to businesses, whether it's the ideal location, high-quality infrastructure, highly educated staff, or a decent tax system.
A modern, accessible, resource-based economy that gives international investors and local businesses confidence to invest, grow and prosper on the small island in the Mediterranean Sea.
Moreover, Cyprus offers one of the lowest set-ups and operating costs within the EU. In addition, there are many international companies and international banks already operating in Cyprus, which improves the productivity and resilience of the national economic environment.
In 2020, the number of registered and operating companies grew for a fourth consecutive year despite the effect of Covid-19. Micro companies continue to have the majority of all businesses in Cyprus, representing 94.8% of all companies as of 2020. Regardless of the financial support of the Cypriot government and lenient regulations towards both legal and physical entities, the number of registered companies decreased by 11.7% as of November 2021.
Overseas interest remains unaffected by the overall economic environment as the number of foreign companies increases with an average of 4% each year and around 2% in 2021.
As vaccination efforts are expanding, protection measures and new regulations strive to contain the virus, and with the immersion of unique variations of Covid, the overall business environment in Cyprus remains dubious.
In this report you will find:
- Overview and Analysis of companies based in Cyprus
- How the pandemic affected the business environment
- Key statistics of the business landscape
If you are interested in reading the full report download it for free here, or contact Infocredit Group at +357 22398000 or email: [email protected].