Newsroom
Foreign companies are flocking to Cyprus at a growing pace, with business registrations up by 30% in just six weeks, a sign that the island is solidifying its position as a prime investment hub in the region.
According to Kathimerini's Dorita Yiannakou, new figures from the Ministry of Energy, Trade and Industry show 246 foreign companies registered between January and July 25, with nearly 60 of those added just since early June. That momentum builds on record numbers seen in 2022 and marks a strong rebound after last year.
So what’s driving this mini-investment boom? Experts point to Cyprus’s political stability, clear legal and tax framework, and the confidence that comes with being in the EU’s investment-grade club. It doesn’t hurt that Cyprus offers access to both European and Middle Eastern markets, making it an ideal launchpad for regional expansion.
Investors are setting up shop across a wide range of sectors, from tech and finance to shipping, real estate, and even gaming and drones. And they’re not just bringing their money; they’re bringing jobs, innovation, and long-term potential. Over 2,500 new jobs have been created already in various industries.
A growing number of companies are choosing to base their regional operations here, open subsidiaries, or even move their headquarters. The majority come from Israel, but Russian, Lebanese, Belarusian, Ukrainian and UK firms are also registering. The most active sectors? Software development, fintech, business and legal services, marketing, and health.
Indian companies in particular are showing new enthusiasm, with Cyprus fast becoming a springboard for their European ambitions. Following Indian Prime Minister Narendra Modi’s official visit in June, three major Indian firms have already set up in Nicosia:
Thomas Cook India, offering services from foreign exchange to conference tourism; LTI Mindtree, a major player in digital transformation and IT consulting; and Drone Destination, which will export drone parts from Cyprus and train drone operators for the EU and Middle East markets.
These aren’t just paper companies either; officials say they’re bringing new business models and cutting-edge tech with them, contributing to the local economy and boosting demand for skilled professionals.
To keep up with demand, Cyprus has also reinforced its support system. The Business Facilitation Unit now works alongside a new Business Service Center to streamline processes and help companies hit the ground running.
Bottom line? Investors are seeing Cyprus not just as a nice place to register a company, but as a serious platform for long-term growth, and they’re signing up fast.
