Strategically located at the crossroads of Europe, Asia and Africa, Cyprus has been an important centre for trade and doing business for thousands of years. The island has a dynamic market-focused economy, driven by a diverse and highly skilled workforce, along with an excellent infrastructure system and the lowest tax regime in the European Union. The country currency is the euro.
Cyprus is a democratic state. It follows a presidential system, whereby the President of the Republic is elected for five years directly by the people in a secret ballot. The House of Representatives is the legislative body and consists of 56 elected members who serve a five-year term, while the administration of Justice is exercised by the Judiciary – a separate and independent body. The current President of the Republic is Mr Nicos Anastasiades, who was elected in February 2013.
Since its establishment in 1960, the Republic of Cyprus has been granted membership to several international organisations, including: the European Union (2004) and Eurozone (2008), the World Trade Organisation (1995), the International Monetary Fund (IMF) (1962), the World Bank (1962), the Council of Europe (1961) and the United Nations (1960).
Α beautiful island with a rich history and culture, Cyprus is the third largest island in the Mediterranean after Sicily and Sardinia. It covers an area of approximately 9,250 square kilometres. The population of Cyprus is about 862,000 and the capital of the island is Nicosia. The sunny island is well known for its mild, wet winters and hot, dry summers, with the sunshine lasting almost all year round.
In 1974, Turkey invaded Cyprus with massive military force and occupied 37% of its northern territory, forcing some 200,000 Greek Cypriots to abandon their homes. To this day, these people have been deprived of their right to return to their homes and properties.