The government has introduced a variety of incentives aimed at attracting investment in industries that will enhance the development of the economy.
These incentives are intended to: encourage the development of new high-tech industries and skill-intensive products, reconstruct Cyprus’ traditional economic sectors, improve productivity and labour skills, and attract capital intensive foreign investment.
The following incentives are available:
• low taxation at 12.5% with zero tax on certain types of income
• industrial free zone and exemption from customs and excise charges for operations in the industrial free zone
• industrial training schemes
• subsidised industrial estates
• grants and other financial assistance to investors, particularly in the areas of energy, the environment, industrial development, technology, research and innovation, trade and services
For more information, contact Invest Cyprus.
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