Recently Cyprus proved itself to be an ideal place for investors as it offers a wide range of incentives—including the lowest corporate tax rate in the European Union, according to the country’s ambassador to the Sultanate. Doing business is Cyprus is not difficult, as English is widely spoken. Residents enjoy freedom of religion as there are many faiths on the island, and the Turkish-Cypriot community is largely Muslim.
Since its accession to the EU in 2004, the economy of Cyprus has undergone significant structural and economic reforms. Now opportunities are ripe in areas such as mining, construction, tourism, education, manufacturing and pharmaceuticals.
The selection of beautiful beaches attract millions of tourists each year. Many adventure seeking travellers are now visiting Cyprus on diving holidays in order to explore the vast ocean and tropical underwater surroundings of the island.
The population of Cyprus is approximately 858,000. Cyprus ranks high on the Human Development Index as it boasts a high-income economy, making it a great place to live. The island also spends more than the EU average on education per capita. Cyprus can be regarded as a crossroads of the East and West because of its prime location in the Eastern Mediterranean.
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