Promotion of Cyprus as an investment destination

CIPA – The Cyprus Investment Promotion Agency has announced a set of initiatives aimed at restoring the image of Cyprus as a credible investment destination and to attract investment. It was stressed that the restarting of the economy passes through attracting foreign investment.

The initiatives aim at making Cyprus an even more attractive investment destination by firstly improving the overall image of Cyprus and restoring confidence of foreign investors.

The Director General of CIPA analyzed the actions to be taken both at the local and international level, including:

Participating in international conferences/exhibitions and hosting international editors such as Economist, Time, Financial Times, Bloomberg, CNN etc.

Organizing targeted events in countries of interest such as Russia, Ukraine, China, Scandinavia, Germany, the UK, Brussels, France, India, Israel, the Gulf and Europe. The objective of the events will be to inform the media and potential investors of strategic priority sectors such as tourism, shipping, energy, property and professional services.

Focusing on Cyprus as an investment destination, the new branding of the organization is focused around the idea of «Invest in Cyprus; Invest in Us». The rebranding includes a new logo, new messages and a redesign of promotional material.

The initiatives of CIPA hope to restore trust in Cyprus and provide the much needed foreign investment in order for the economy to regain its position as financial centre.

At the same time, the President of The Republic Mr Anastasiades stressed the Government’s full support in the reconstruction and revitalization of the economy.

The President said that the banking sector through restructuring and implementing a comprehensive action plan has become stronger, well capitalized and viable restoring the confidence of depositors and enhancing its ability to continue its contribution to economic growth. At the same time the government is fully focused on promoting growth, providing favorable tax incentives for existing/new companies operating in Cyprus, encouraging foreign investment, increasing the competitiveness of Cyprus and creating a more efficient and business-friendly environment. He stressed the advantages of Cyprus with almost 50 double tax treaties in force, a qualified workforce, a tax and legal system which is harmonized with EU law and one of the lowest and most competitive corporate tax rates in Europe 12.5 %.

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