1 presented by: charalambos orphanides senior commercial and industrial officer ministry of...

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Presented by:Presented by:Charalambos OrphanidesCharalambos OrphanidesSenior Commercial and Industrial Officer Senior Commercial and Industrial Officer Ministry of Commerce, Industry & TourismMinistry of Commerce, Industry & TourismRepublic Of Cyprus Republic Of Cyprus

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a Business Center of Excellencea Business Center of ExcellenceVilnius 12 June , 2012Vilnius 12 June , 2012

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key strengthskey strengthskey strengthskey strengths

• EU and Eurozone member EU and Eurozone member statestate

• Strategic locationStrategic location• Macroeconomic stabilityMacroeconomic stability

• FavourableFavourable tax environment tax environment• Renown Int. shipping CentreRenown Int. shipping Centre• Advanced InfrastructureAdvanced Infrastructure• Enviable Quality of Life Enviable Quality of Life • Advanced professional services Advanced professional services

• Open Stable EconomyOpen Stable Economy

Republic of CyprusRepublic of CyprusMinistry of Commerce, Industry & TourismMinistry of Commerce, Industry & Tourism

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ideally positioned for businessideally positioned for businessideally positioned for businessideally positioned for business


EuropeEuropeEuropeEurope

AfricaAfricaAfricaAfrica

Middle Middle East East

& Asia& Asia

Middle Middle East East

& Asia& Asia

ideally located to ideally located to serve 3 continentsserve 3 continents

a strategic choice, a strategic choice, allowing allowing

to reach new, to reach new, highly promising highly promising

marketsmarkets

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a business centre of excellencea business centre of excellencea business centre of excellencea business centre of excellenceAdvantages as an International Business CentreAdvantages as an International Business Centre Advantages as an International Business CentreAdvantages as an International Business Centre

Modern and Modern and transparent legal transparent legal frameworkframework

Offers Offers confidence confidence safety and safety and securitysecurity

Low Corporation Tax Low Corporation Tax and wide network of and wide network of Double Taxation TreatiesDouble Taxation Treaties

Discovery of hydrocarbon Discovery of hydrocarbon offshore a major offshore a major

developmentdevelopment

Liberal FDI Policy Liberal FDI Policy

Low Set Up and Low Set Up and Operating Costs Operating Costs

Financial Center offering Financial Center offering wide spectrum of banking wide spectrum of banking

and accounting services and accounting services

flexible and dynamic economy

• Open stable Economy/Microeconomic Stability• Growth for 2011:0,5% • Inflation rate:3,3% (2011)• Unemployment 6.7% (2011)• GDP per capita : €22.000 (2011)• Fiscal Total Public Debt: €12.720 million(2011)• Deficit as% of GDP 6,11% (2011)• 71,8% of 2012 Index of Economic Freedom• 20th most liberated economy

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Trade & tourist relations with LithuaniaTrade & tourist relations with LithuaniaTrade & tourist relations with LithuaniaTrade & tourist relations with Lithuania

TOTAL EXPORTS TO LITHUANIA 2011TOTAL EXPORTS TO LITHUANIA 2011€€3.9 mil. 3.9 mil.

YEAR 2010:YEAR 2010: EXPORT OF SERVICES TO LITHUANIA €3.7 mil.EXPORT OF SERVICES TO LITHUANIA €3.7 mil. IMPORT OF SERVICES FROM LITHUANIA €1.5 milIMPORT OF SERVICES FROM LITHUANIA €1.5 mil. .

YEAR 2011: TOURISTSYEAR 2011: TOURISTSFROM LITHUANIA TO CYPRUS 2182FROM LITHUANIA TO CYPRUS 2182

FROM CYPRUS TO LITHUANIA 1668 FROM CYPRUS TO LITHUANIA 1668

TOTAL IMPORTS FROM LITHUANIA 2011TOTAL IMPORTS FROM LITHUANIA 2011€€1.6 mil. 1.6 mil.

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WHERE TO INVESTWHERE TO INVESTWHERE TO INVESTWHERE TO INVEST

• Banking and Financial ServicesBanking and Financial Services• ShippingShipping• Energy –Energy –Hydrocarbon exploration activities - renewable energy sourceHydrocarbon exploration activities - renewable energy source

• Professional ServicesProfessional Services• Wellness TourismWellness Tourism• EducationEducation• Information and Telecommunication Information and Telecommunication

Technologies (ICT)Technologies (ICT)• Research and Development (R&D)Research and Development (R&D)• Medical ServicesMedical Services• Re-exporting to existing and newly emerging Re-exporting to existing and newly emerging

marketsmarkets

Ship and ship management

• Cyprus ranks among the leading maritime nations

• An international shipping Centre for the conduct of maritime activities

• One of the world's largest shipping management centers

• Shipping Taxation System huge success

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a Services Sector, a Services Sector, at your serviceat your servicea Services Sector, a Services Sector, at your serviceat your service

• Critical Role and most dynamic growing Sector, Critical Role and most dynamic growing Sector, accounting for more than 80% of GDP accounting for more than 80% of GDP

• Qualified professionalsQualified professionals

• Ideal location for establishing an Ideal location for establishing an international holding companyinternational holding company

• Focused strategic support and expertise Focused strategic support and expertise in servicing overseas clientsin servicing overseas clients

• Financial and Services Gateway Financial and Services Gateway

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a Services Sector, a Services Sector, at your serviceat your servicea Services Sector, a Services Sector, at your serviceat your serviceProfessional servicesProfessional services●● Accounting – AuditingAccounting – Auditing●● Banking Banking ●●Legal Legal ●● FinancialFinancial ●● Consulting Consulting ●● Architectural Architectural ●● Civil Civil EngineeringEngineeringBusiness servicesBusiness services●●Management Management ● ● Consulting Consulting ●●Insurance Insurance ●●Computing Computing ●● Information technology Information technology ●● Software Software DevelopmentDevelopmentMarketing servicesMarketing services●● Market research Market research ●● Advertising & Advertising & PromotionPromotionR&D servicesR&D services●● Analyses Analyses ●● Testing Testing ●● Technology Technology

Transportation servicesTransportation services●● Logistics Logistics ●● Shipping Shipping ●● Travel-related Travel-related

Support servicesSupport services●● Education & Training Education & Training ●● Health Care Health Care

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ConclusionConclusionConclusionConclusion• Cyprus offers significant benefits Cyprus offers significant benefits

and opportunities to international and opportunities to international companies companies (ie. tax system, (ie. tax system, infrastructure, human capital)infrastructure, human capital)..

• The Cyprus Government gives its The Cyprus Government gives its full support and has right policies full support and has right policies to serious co-operation between to serious co-operation between Cypriot and Lithuanian companies.Cypriot and Lithuanian companies.

Welcome to explore Cyprus Welcome to explore Cyprus and discover the advantages and discover the advantages

that it can offerthat it can offer

Welcome to explore Cyprus Welcome to explore Cyprus and discover the advantages and discover the advantages

that it can offerthat it can offer

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For more information, please contact:For more information, please contact:MINISTRY OF COMMERCE, INDUSTRY & TOURISMMINISTRY OF COMMERCE, INDUSTRY & TOURISM

1421 Nicosia, Cyprus 1421 Nicosia, Cyprus [email protected]@mcit.gov.cy

www.mcit.gov.cy/tswww.mcit.gov.cy/ts

1 presented by: charalambos orphanides senior commercial and industrial officer ministry of...

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