Cyprus 'suitable for foreign investors'

Article Date : 06 November 2007

Foreign investors could find an ideal marketplace in Cyprus, according to a government official.

Antonis Michaelides, the country's minister of commerce, industry and tourism, said it offered numerous benefits to people from overseas, such as being well located and economically prosperous.

He added that the island had developed into an international business hub between Europe, Africa and Asia, especially since it became a member of the European Union.

Cyprus was said to be doing well in attracting foreign direct investments, with many companies choosing to do business there.

Mr Michaelides went on to highlight other attractive qualities of the country, such as the recent streamlining of the tax regime and efforts to cut bureaucracy.

He commented: "Advantages include a stable socio-economic environment, state-of-the-art infrastructure, a highly qualified labour force and a business environment."

These factors could also be beneficial to investors in Cyprus' property market, as the strength of the economy and access to modern facilities would be important considerations.

The island's appeal as an overseas investment hotspot could also enhance as a result of its forthcoming entry into the single European currency.

Cyprus 'suitable for foreign investors'

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