Cyprus is a Eurasian island country situated in the north-eastern part of the Mediterranean Sea, 75km south of Turkey, 105km west of Syria, 380km north of Egypt and 380km east of Rhodes (Greece). It is a former British Colony, gaining independence in 1960. It has been a member of the European Union since 1 May 2004 and the official languages are Greek and Turkish.

Tourism plays the most important role in the country’s economy, as Cyprus is the third-largest island in the Mediterranean as well as possesses rich variety of landscape such as rugged coastlines, sandy beaches, rocky hills and forest-covered mountains. In recent years, financial service also plays a significant role in the country’s economy. Cyprus has been sought as a base for several offshore businesses for its highly developed infrastructure, reliable telecommunications system and favorable Economic policy. Besides, the low crime rate and free market economy also make the island an ideal jurisdiction for investors.

Economides, Peter

Legislation (Source: Central Bank of Cyprus, Cyprus Securities and Exchange Commission)

• Insurance Services Law (In Greek)

• Investment Firm Law 144(I)/2007 

• Central Bank of Cyprus Laws of 2002-2007

• The Prevention and Suppresion of Money Laundering Activities Law 2007

Local Newspaper

• Cyprus Mail

Other Useful Information