International Business Companies are companies or branches registered under Cyprus Law whereas the legal owners of these companies / branches are not permanently residents in Cyprus. This particular industry sector is the so-called the "cornerstone" of the Cyprus economy. Cyprus Law and Cyprus Tax Law encourage even more foreign business people to set up a Cyprus company.
Information Technology is a vital element of any modern business centre and Cyprus has embraced high-tech on a major scale. Many of the world's leading IT-based companies have chosen Cyprus as their base for expansion in the region, while an efficient software sector has also been established.
Cyprus Shipping and Transportation
It is worldwide known that the Cyprus shipping cluster has experienced remarkable growth over the years. Cyprus is at the forefront of global shipping with a fully functional and innovative department of merchant shipping, a new EU approved tonnage tax regime and a committed resident shipping industry.
Cyprus Real Estate-Construction & Hospitality
The construction and civil engineering industry has always been a key driver and indicator of economic activity not only in Cyprus but worldwide. The last couple of years however, Cyprus has experienced a decline of the sector with a consequential adverse effect on other public sectors.