Before travelling to any country, it is essential to know the basics of the place. Cyprus is strategically sited between Asia and Europe. The place is famous for its tranquil beaches, historical sites and amazing business opportunities. Hence, vocational tourists, business travellers and students are common visitors of the country.
The Cyprus business travel guide below will help you in getting all the basic details which you need to know to settle as fast as possible and have a smooth short or long stay here. Read on to know more!
Introduction to Cyprus
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Cyprus is a nation with two parts which are affected by different regions. The Northern part is impacted by the Turkish people where it shares the border while the Southern region is affected by the Greeks. The state is a European member has several bilateral trade agreements which has helped in enhancing businesses here.
Facts about Cyprus
It is a small country and most of the administration work is carried out at Nicosia, it’s capital city. The country is said to be populated at a good pace. You will see Greek Orthodox and Muslims a lot here, as they are two major religions followed here.
Major business ethics
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If you are visiting Cyprus for business-related purpose, then you should know some of the major ethics in this regard. Both ex-pats and locals here can easily build trust in you if you have a good relationship making skills. At the time of a business meeting, make eye contact, a nod to tell that you are listening. Cypriots prefer face to face meetings rather than over a call or in writing. It is very important to be punctual in Cyprus. Always make sure that you dress formally for a meeting.
Having a business card is essential. Businessmen from Cyprus appreciate when they are given proper respect and treatment.
Applying for a visa
Cyprus is extremely flexible on how it issues visa to business tourists. Citizens from a few nations do not need a visit to come here, while some do need to apply for one before travelling. Hence, it is important to find out if you need a visa or not.
Where can you stay?
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A major concern for business travellers is that where will they stay in Cyprus? Well, Cyprus has sufficient preparations for all types of visitors. The big cities have both top-notch and budget-friendly hotels which can accommodate all kinds of visitors. It is suggested that you make an early booking to avoid last-minute problems. Again, it will help you in saving some money.
Where to eat?
It is the basic requirement for any and every traveller. Cyprus offers a variety of foods which are safe for humans. Whether you want to enjoy some street food or want to dine in an expensive restaurant, you will enjoy its amazingly rich cuisine.
- Major exports
The major exports of this nation include clothing, cement, citrus fruits, potatoes as well as pharmaceuticals.
- Major imports
The major imports of this nation include petroleum, transport parts, raw materials, consumer products and machinery parts.
- Usual working hours
The usual working hours are 0800-1300 and 1500-1800 for winters and 0800-1300 and 1600-1900 for summers.
- Major trading partners
The company has trades going on with Israel, Italy, Germany, United Kingdom, South Korea, Libya, Greece, Norway, Chine and Netherlands. However, it has opened its business opportunities for people all across the world. Anyone interested in opening a company can easily set it up by following the registration guidelines. To know more about it, discuss it with our professionals.
Economy
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The Republic of Cyprus had a fiscal crisis from 2012-13 which called for a European bailout and end of Cyprus Popular Bank. After that from 2017, Cyprus executed a strict austerity measure to enhance its economy and make a comeback to the international market. This has brought the inflation rate of around 2% in 2019 from -5.9% in 2013.
The financial sector in Cyprus is developing rapidly and the country is enhancing its professional services. Even the tourism sector is developing at a fast pace and accounts for 7.5% of its GDP in 2017. The areas in the north of the Green Line rely majorly on tourism and service industry for its economy and the remaining parts rely majorly on the Turkish economy for business support.
Hence as a businessman, there is a great potential for you to come and develop your product and services. Whether you want to develop a parent company or a subsidiary, it is essential to know the essentials before doing that. No matter you are an ex-pat or a resident, the business opportunities are open to all. Do you just need to find out what are the requirements for setting up a business in Cyprus? What is the company registration procedure here? Why should you start a particular venture here? What kind of venture you want to invest in and the type of company you want to set up?
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You can get all these details by getting in touch with a professional. Fine Life Group has a team of expert professionals who can meet all types of needs of corporate clients. They offer all corporate services to register legal companies in Cyprus. So, if you are looking forward to company registration in Cyprus on an international basis, then you can click here. All you need to do is sent them a request for your company registration and they will give you the best possible help in this regard.
If you are travelling to Cyprus to set up your business or expand it, you can enjoy your stay while saving some money after you have followed this guide thoroughly. You can hire a travel agent to manage your flight booking, hotel booking and itinerary. Take time to explore the business opportunities of the place as there are stupendous development projects and branding going around. It is now the time to set your business in this country for a great future in the coming time.
