Doing Business

Business Incentives

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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December 2020

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