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Cyprus Business Guide


Geography


Location:
Middle East, island in the Mediterranean Sea, south of Turkey


Geographic coordinates:
35 00 N, 33 00 E


Map references:
Europe


Area:
total:9,251 sq km (of which 3,355 sq km are in north Cyprus)country comparison to the world: 171
land:9,241 sq km
water:10 sq km


Area - comparative:
about 0.6 times the size of Connecticut


Land boundaries:
total:156 km
border sovereign base areas:Akrotiri 48 km, Dhekelia 108 km


Coastline:
648 km


Maritime claims:
territorial sea:12 nm
contiguous zone:24 nm
continental shelf:200 m depth or to the depth of exploitation


Climate:
temperate; Mediterranean with hot, dry summers and cool winters


Terrain:
central plain with mountains to north and south; scattered but significant plains along southern coast


Elevation extremes:
lowest point:Mediterranean Sea 0 m
highest point:Mount Olympus 1,951 m


    Natural resources:
copper, pyrites, asbestos, gypsum, timber, salt, marble, clay earth pigment


Land use:
arable land:9.06%
permanent crops:3.54%
other:87.41% (2011)


Irrigated land:
457.9 sq km (2007)


Total renewable water resources:
0.78 cu km (2011)


Freshwater withdrawal (domestic/industrial/agricultural):
0.78 cu km (2011)

Natural hazards:
moderate earthquake activity; droughts


Environment - current issues:
water resource problems (no natural reservoir catchments, seasonal disparity in rainfall, sea water intrusion to island's largest aquifer, increased salination in the north); water pollution from sewage and industrial wastes; coastal degradation; loss of wildlife habitats from urbanization


Environment - international agreements:
party to:Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 94, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified:none of the selected agreements


Geography - note:
the third largest island in the Mediterranean Sea (after Sicily and Sardinia)



People and Society


Nationality:
noun: Cypriot(s)
adjective:Cypriot


Ethnic groups:
Greek 77%, Turkish 18%, other 5% (2001)


Languages:
Greek (official) 80.9%, Turkish (official) 0.2%, English 4.1%, Romanian 2.9%, Russian 2.5%, Bulgarian 2.2%, Arabic 1.2%, Filippino 1.1%, other 4.3%, unspecified 0.6% (2011 est.)


Religions:
Greek Orthodox 78%, Muslim 18%, other (includes Maronite and Armenian Apostolic) 4%


Population:
1,172,458 (July 2014 est.)country comparison to the world: 161


Age structure:
0-14 years:15.7% (male 94,437/female 89,174)
15-24 years:15.3% (male 97,773/female 82,053)
25-54 years:46.9% (male 288,673/female 261,651)
55-64 years:10.8% (male 60,639/female 66,336)
65 years and over:11% (male 57,188/female 74,534) (2014 est.)


Dependency ratios:
total dependency ratio:41.4 %
youth dependency ratio:23.7 %
elderly dependency ratio:17.7 %
potential support ratio:5.6 (2014 est.)


Median age:
total:35.7 years
male:34.4 years
female:37.4 years (2014 est.)


Population growth rate:
1.48% (2014 est.)country comparison to the world: 82


Birth rate:
11.44 births/1,000 population (2014 est.)country comparison to the world: 172


Death rate:
6.57 deaths/1,000 population (2014 est.)country comparison to the world: 147


Net migration rate:
9.89 migrant(s)/1,000 population (2014 est.)country comparison to the world: 14


Urbanization:
urban population:70.5% of total population (2011)
rate of urbanization:1.36% annual rate of change (2010-15 est.)


Major urban areas - population:
NICOSIA (capital) 253,000 (2011)


Sex ratio:
at birth:1.05 male(s)/female
0-14 years:1.06 male(s)/female
15-24 years:1.19 male(s)/female
25-54 years:1.1 male(s)/female
55-64 years:1.04 male(s)/female
65 years and over:0.77 male(s)/female
total population:1.04 male(s)/female (2014 est.)


Mother's mean age at first birth:
28.5


Maternal mortality rate:
10 deaths/100,000 live births (2010)


Infant mortality rate:
total:8.54 deaths/1,000 live birthscountry comparison to the world: 152
male:10.1 deaths/1,000 live births
female:6.91 deaths/1,000 live births (2014 est.)


    Life expectancy at birth:
total population:78.34 yearscountry comparison to the world: 54
male:75.54 years
female:81.27 years (2014 est.)


Total fertility rate:
1.46 children born/woman (2014 est.)country comparison to the world: 198


Health expenditures:
7.4% of GDP (2011)


Physicians density:
2.75 physicians/1,000 population (2010)


Hospital bed density:
3.5 beds/1,000 population (2010)


Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2012 est.)


Sanitation facility access:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2012 est.)


HIV/AIDS - adult prevalence rate:
0.1% (2003 est.)country comparison to the world: 134


HIV/AIDS - people living with HIV/AIDS:
fewer than 1,000 (2007 est.)country comparison to the world: 146


HIV/AIDS - deaths:
NA


Obesity - adult prevalence rate:
25.5% (2008)country comparison to the world: 53


Education expenditures:
7.3% of GDP (2010)country comparison to the world: 19

Literacy:
definition:age 15 and over can read and write
total population:98.7%
male:99.3%
female:98.1% (2011 est.)


School life expectancy (primary to tertiary education):
total:14 years
male:14 years
female:14 years (2011)


Unemployment, youth ages 15-24:
total:27.8%country comparison to the world: 34
male:28.8%
female:26.6% (2012)


People - note:
demographic data for Cyprus include the population in the government-controlled area and the area administered by Turkish Cypriots


Government


Country name:
conventional long form: Republic of Cyprus
conventional short form:Cyprus
local long form:Kypriaki Dimokratia/Kibris Cumhuriyeti
local short form:Kypros/Kibris
note:the Turkish Cypriot community, which administers the northern part of the island, refers to itself as the 'Turkish Republic of Northern Cyprus' or 'TRNC' (Kuzey Kibris Turk Cumhuriyeti or KKTC)


Government type:
republic


Capital:
name:Nicosia (Lefkosia/Lefkosa)
geographic coordinates:35 10 N, 33 22 E
time difference:UTC+2 (7 hours ahead of Washington, DC, during Standard Time)
daylight saving time:+1hr, begins last Sunday in March; ends last Sunday in October


Administrative divisions:
6 districts; Ammochostos (Famagusta; all but a small part administered by Turkish Cypriots), Keryneia (Kyrenia; the only district completely administered by Turkish Cypriots), Larnaka (Larnaca; a small part administered by Turkish Cypriots), Lemesos (Limassol), Lefkosia (Nicosia; a small part administered by Turkish Cypriots), Pafos (Paphos); note - the five districts of Turkish Cypriot-administered part of Cyprus are Gazimagusa (Famagusta), Girne (Kyrenia), Guzelyurt (Morphou), Lefkosia (Nicosia) and Iskele (Trikomo)


Independence:
16 August 1960 (from the UK); note - Turkish Cypriots proclaimed self-rule on 13 February 1975 and independence in 1983, but these proclamations are only recognized by Turkey


National holiday:
Independence Day, 1 October (1960); note - Turkish Cypriots celebrate 15 November (1983) as 'Independence Day'


Constitution:
ratified 16 August 1960; note - in 1963, the constitution was partly suspended as Turkish Cypriots withdrew from the government; Turkish-held territory in 1983 was declared the 'Turkish Republic of Northern Cyprus' ('TRNC'); in 1985, the 'TRNC' approved its own constitution (2013)


Legal system:
mixed legal system of English common law and civil law with Greek Orthodox religious law influence


International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction


Suffrage:
18 years of age; universal


Executive branch:
chief of state:President Nicos ANASTASIADES (since 28 February 2013); note - the president is both chief of state and head of government; post of vice president is currently vacant; under the 1960 constitution, the post is reserved for a Turkish Cypriot
head of government:President Nicos ANASTASIADES (since 28 February 2013)
cabinet:Council of Ministers appointed by the president; note - under the 1960 constitution, three of the ministerial posts are reserved for Turkish Cypriots appointed by the Vice President but the positions are currently filled by Greek Cypriots
elections:president elected by popular vote for a five-year term; election last held on 17 and 24 February 2013 (next to be held in February 2018)
election results:Nicos ANASTASIADES elected president; percent of vote (first round) - Nicos ANASTASIADES 45.46%, Stavros MALAS 26.91%, Giorgos LILLIKAS 24.93%, other 2.7%; (second round) Nicos ANASTASIADES 57.48%, Savros MALAS 42.52%
note:Dervis EROGLU became 'president' of the 'TRNC' on 23 April 2010 after 'presidential' elections on 18 April 2010; results - Dervis EROGLU 50.4%, Mehmet Ali TALAT 42.9%; Ozkan YORGANCIOGLU is 'TRNC prime minister'


Legislative branch:
unicameral - area under government control: House of Representatives or Vouli Antiprosopon (80 seats; 56 assigned to the Greek Cypriots, 24 to Turkish Cypriots; note - only those assigned to Greek Cypriots are filled; members are elected by popular vote to serve five-year terms); area administered by Turkish Cypriots: 'Assembly of the Republic' or Cumhuriyet Meclisi (50 seats; members elected by popular vote to serve five-year terms)
elections:area under government control: last held on 22 May 2011 (next to be held in May 2016); area administered by Turkish Cypriots: last held on 28 July 2013 (next to be held on July 2018)
election results:area under government control: House of Representatives - percent of vote by party - DISY 34.3%, AKEL 32.7%, DIKO 15.8%, KS-EDEK 8.9%, EVROKO 3.9%, other 4.4%; seats by party - DISY 20, AKEL 19, DIKO 9, KS-EDEK 5, EVROKO 2, KOP 1; note - as of 1 January 2014, the composition of the Cypriot House of Representatives was DISY 20, AKEL 19, DIKO 8, KS-EDEK 5, EVROKO 1, SP 1, KOP 1, independent 1; area administered by Turkish Cypriots: 'Assembly of the Republic' - percent of vote by party - CTP-BG 38%, UBP 27%, DP-UG 23%, TDP 7%, other 5%; seats by party - CTP-BG 21, UBP 14, DP-UG 12, TDP 3


    Judicial branch:
highest court(s):Supreme Court of Cyprus (consists of 13 judges including the court president); note - the highest court in the 'Turkish Republic of Northern Cyprus (TRNC)' is the 'Supreme Court' (consists of 8 'judges' including the 'court president')
judge selection and term of office:Republic of Cyprus Supreme Court judges appointed by the president of the republic upon the recommendation of the Supreme Court judges; judges tenure is until the age of 68; 'TRNC Supreme Court' judges appointed by the 'Supreme Council of Judicature', a 12-member body of 'judges', the 'attorney general', 'appointees' - one each by the 'president' of the 'TRNC' and by the 'Legislative Assembly', and a member elected by the Bar Association; 'judge' tenure NA
subordinate courts:Republic of Cyprus district courts; Assize Courts; specialized courts for issues relating to family, industrial disputes, military, and rent control; 'TRNC Assize Courts'; 'district and family courts'


Political parties and leaders:
Confederation of Cypriot Workers or SEK (pro-West)
Pan-Cyprian Labor Federation or PEO (Communist controlled)
area administered by Turkish Cypriots:Federation of Turkish Cypriot Labor Unions or Turk-Sen
Confederation of Revolutionary Labor Unions or Dev-Is


International organization participation:
Australia Group, C, CD, CE, EBRD, ECB, EIB, EMU, EU, FAO, IAEA, IBRD, ICAO, ICC (national committees), IDA, IFAD, IFC, IFRCS (observer), IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NAM, NSG, OAS (observer), OIF, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO


Diplomatic representation in the US:
chief of mission:Ambassador George CHACALLI (since 30 May 2013)
chancery:2211 R Street NW, Washington, DC 20008
telephone:[1] (202) 462-5772, 462-0873
FAX:[1] (202) 483-6710
consulate(s) general:New York
note:representative of the Turkish Cypriot community in the US is Ahmet ERDENGIZ; office at 1667 K Street NW, Washington, DC; telephone [1] (202) 887-6198


Diplomatic representation from the US:
chief of mission:Ambassador John M. KOENIG (since 17 August 2012)
embassy:corner of Metochiou and Ploutarchou Streets, 2407 Engomi, Nicosia
mailing address:P. O. Box 24536, 1385 Nicosia
telephone:[357] (22) 393939
FAX:[357] (22) 780944


Flag description:
white with a copper-colored silhouette of the island (the name Cyprus is derived from the Greek word for copper) above two green crossed olive branches in the center of the flag; the branches symbolize the hope for peace and reconciliation between the Greek and Turkish communities


National symbol(s):
Cypriot mouflon (wild sheep); white dove


National anthem:
name:'Ymnos eis tin Eleftherian' (Hymn to Liberty)
lyrics/music:Dionysios SOLOMOS/Nikolaos MANTZAROS
note:adopted 1960; Cyprus adopted the Greek national anthem as its own; the Turkish community in Cyprus uses the anthem of Turkey


Economy


Economy - overview:
The area of the Republic of Cyprus under government control has a market economy dominated by the service sector, which accounts for four-fifths of GDP. Tourism, financial services, and real estate have traditionally been the most important sectors. Cyprus has been a member of the European Union (EU) since May 2004 and adopted the euro as its national currency in January 2008. During the first five years of EU membership, the Cyprus economy grew at an average rate of about 4%, with unemployment between 2004 and 2008 averaging about 3%. An overextended banking sector with excessive exposure to Greek debt resulted in a contraction in economic growth. Two of Cyprus' biggest banks were among the largest holders of Greek bonds in Europe and had a substantial presence in Greece through bank branches and subsidiaries. Following numerous downgrades of its credit rating, Cyprus lost access to international capital markets in May 2011. The economy contracted by an accumulated 8.2% between 2009 and 2013 and is not expected to return to positive growth before 2015. Unemployment is currently over 17% and expected to reach 19% in 2014. In July 2012, Cyprus became the fifth eurozone government to request an economic bailout program from the European Commission, European Central Bank and the International Monetary Fund - known collectively as the 'Troika'. Shortly after the election of President Nicos ANASTASIADES in February 2013, Cyprus faced an economic crisis and agreed with the Troika to a $13 billion bailout that included losses on uninsured bank deposits. The bailout triggered a two-week bank closure and the imposition of capital controls, some of which remained in place through 2014. Cyprus' two largest banks merged and the combined entity was recapitalized through conversion of some large bank deposits to shares and imposition of losses on some bank bondholders. The Troika conditioned the bailout on progress in financial and structural reforms and privatization of state-owned enterprises. Cyprus has downsized and restructured its banking sector significantly. Three positive reviews by the Troika since May 2013 indicate that Cyprus’ bailout program is on track with a fourth review scheduled in May 2014. In October 2013, Cyprus completed preliminary appraisal of hydrocarbon deposits in its territorial waters, which revealed less than anticipated natural gas reserves. Additional exploration drilling is likely to continue in 2014-2015.


GDP (purchasing power parity):
$21.62 billion (2013 est.)
country comparison to the world: 130
$23.68 billion (2012 est.)
$24.27 billion (2011 est.)
note:data are in 2013 US dollars


GDP (official exchange rate):
$21.78 billion (2013 est.)


GDP - real growth rate:
-8.7% (2013 est.)
country comparison to the world: 220
-2.4% (2012 est.)
0.5% (2011 est.)


GDP - per capita (PPP):
$24,500 (2013 est.)
country comparison to the world: 62
$27,200 (2012 est.)
$28,200 (2011 est.)
note:data are in 2013 US dollars


Gross national saving:
8.4% of GDP (2013 est.)
country comparison to the world: 143
6.6% of GDP (2012 est.)
14.2% of GDP (2011 est.)


GDP - composition, by end use:
household consumption:67.2%
government consumption:20.1%
investment in fixed capital:10.5%
investment in inventories:-4.8%
exports of goods and services:45.5%
imports of goods and services:-38.5%
(2013 est.)


GDP - composition, by sector of origin:
agriculture:2.4%
industry:15.9%
services:81.7% (2013 est.)


Agriculture - products:
citrus, vegetables, barley, grapes, olives, vegetables; poultry, pork, lamb; dairy, cheese


Industries:
tourism, food and beverage processing, cement and gypsum, ship repair and refurbishment, textiles, light chemicals, metal products, wood, paper, stone and clay products


Industrial production growth rate:
-3.5% (2013 est.)
country comparison to the world: 187

Labor force:
443,500 (2013 est.)
country comparison to the world: 157


Labor force - by occupation:
agriculture:8.5%
industry:20.5%
services:71% (2006 est.)


Unemployment rate:
17.4% (2013 est.)
country comparison to the world: 153
11.9% (2012 est.)


Population below poverty line:
NA%


Household income or consumption by percentage share:
lowest 10%:NA%
highest 10%:NA%


Distribution of family income - Gini index:
31 (2012 est.)
country comparison to the world: 113
29 (2005 est.)


    Budget:
revenues::$8.799 billion
expenditures::$10.04 billion (2013 est.)


Taxes and other revenues:
40.4% of GDP (2013 est.)
country comparison to the world: 38

Budget surplus (+) or deficit (-):
-5.7% of GDP (2013 est.)
country comparison to the world: 176


Public debt:
113.1% of GDP (2013 est.)
country comparison to the world: 10
85.8% of GDP (2012 est.)
note:data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment


Fiscal year:
calendar year


Inflation rate (consumer prices):
0.2% (2013 est.)
country comparison to the world: 9
$NA (2012 est.)


Central bank discount rate:
0.75% (31 December 2013)
country comparison to the world: 126
1.5% (31 December 2010)
note:this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area


Commercial bank prime lending rate:
7% (31 December 2013 est.)
country comparison to the world: 118
7.05% (31 December 2012 est.)


Stock of narrow money:
$14.73 billion (31 December 2011 est.)
country comparison to the world: 69
$14.6 billion (31 December 2010 est.)
note:see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the EMU; individual members of the EMU do not control the quantity of money circulating within their own borders


Stock of broad money:
$46.46 billion (31 December 2013 est.)
country comparison to the world: 71
$50.06 billion (31 December 2012 est.)


Stock of domestic credit:
$50.39 billion (31 December 2013 est.)
country comparison to the world: 60
$54.29 billion (31 December 2012 est.)


Market value of publicly traded shares:
$1.996 billion (31 December 2012 est.)


Current account balance:
-$358.2 million (2013 est.)
country comparison to the world: 95
-$1.506 billion (2012 est.)


Exports:
$2.42 billion (2013 est.)
country comparison to the world: 137
$2.602 billion (2012 est.)


Exports - commodities:
citrus, potatoes, pharmaceuticals, cement, clothing


Exports - partners:
Greece 23%, UK 10.1% (2012)


Imports:
$4.747 billion (2013 est.)
country comparison to the world: 132
$6.755 billion (2012 est.)


Imports - commodities:
consumer goods, petroleum and lubricants, machinery, transport equipment


Imports - partners:
Greece 21.6%, Israel 11.9%, Italy 8.3%, UK 7.3%, Germany 7.1%, Netherlands 6.7%, France 6%, China 4.5% (2012)


Reserves of foreign exchange and gold:
$853 million (31 December 2013 est.)
country comparison to the world: 140
$1.191 billion (31 December 2012 est.)


Debt - external:
$95.28 billion (31 December 2013 est.)
country comparison to the world: 50
$103.5 billion (31 December 2012 est.)


Stock of direct foreign investment - at home:
$28.53 billion (31 December 2013 est.)
country comparison to the world: 63
$26.28 billion (31 December 2012 est.)


Stock of direct foreign investment - abroad:
$12.11 billion (31 December 2013 est.)
country comparison to the world: 51
$11.16 billion (31 December 2012 est.)


Exchange rates:
euros (EUR) per US dollar -
0.7634 (2013 est.)
0.7752 (2012 est.)
0.755 (2010 est.)
0.7198 (2009 est.)
0.6827 (2008 est.)


Economy of the area administered by Turkish Cypriots:



Energy


Electricity - production:
4.443 billion kWh (2012 est.)
country comparison to the world: 121


Electricity - consumption:
4.356 billion kWh (2012 est.)
country comparison to the world: 120


Electricity - exports:
0 kWh (2012 est.)
country comparison to the world: 127


Electricity - imports:
0 kWh (2012 est.)
country comparison to the world: 135


Electricity - installed generating capacity:
1.493 million kW (2012 est.)
country comparison to the world: 117


Electricity - from fossil fuels:
94.2% of total installed capacity (2010 est.)
country comparison to the world: 70


Electricity - from nuclear fuels:
0% of total installed capacity (2010 est.)
country comparison to the world: 74


Electricity - from hydroelectric plants:
0% of total installed capacity (2010 est.)
country comparison to the world: 166


Electricity - from other renewable sources:
5.8% of total installed capacity (2010 est.)
country comparison to the world: 40


Crude oil - production:
8.47 bbl/day (2012 est.)
country comparison to the world: 130


Crude oil - exports:
0 bbl/day (2010 est.)
country comparison to the world: 103


Crude oil - imports:
0 bbl/day (2010 est.)
country comparison to the world: 177


    Crude oil - proved reserves:
0 bbl (1 January 2013 est.)
country comparison to the world: 122


Refined petroleum products - production:
0 bbl/day (2010 est.)
country comparison to the world: 136


Refined petroleum products - consumption:
58,430 bbl/day (2011 est.)
country comparison to the world: 94


Refined petroleum products - exports:
0 bbl/day (2010 est.)
country comparison to the world: 170


Refined petroleum products - imports:
58,310 bbl/day (2010 est.)
country comparison to the world: 63


Natural gas - production:
0 cu m (2011 est.)
country comparison to the world: 121


Natural gas - consumption:
0 cu m (2010 est.)
country comparison to the world: 138


Natural gas - exports:
0 cu m (2011 est.)
country comparison to the world: 88


Natural gas - imports:
0 cu m (2011 est.)
country comparison to the world: 183


Natural gas - proved reserves:
0 cu m (1 January 2013 est.)
country comparison to the world: 129


Carbon dioxide emissions from consumption of energy:
9.503 million Mt (2011 est.)



Communications


Telephones - main lines in use:
373,200 (2012)
country comparison to the world: 108


Telephones - mobile cellular:
1.11 million (2012)
country comparison to the world: 155


Telephone system:
general assessment:excellent in both area under government control and area administered by Turkish Cypriots
domestic:open-wire, fiber-optic cable, and microwave radio relay
international:country code - 357 (area administered by Turkish Cypriots uses the country code of Turkey - 90); a number of submarine cables, including the SEA-ME-WE-3, combine to provide connectivity to Western Europe, the Middle East, and Asia; tropospheric scatter; satellite earth stations - 8 (3 Intelsat - 1 Atlantic Ocean and 2 Indian Ocean, 2 Eutelsat, 2 Intersputnik, and 1 Arabsat)



    Broadcast media:
mixture of state and privately run TV and radio services; the public broadcaster operates 2 TV channels and 4 radio stations; 6 private TV broadcasters, satellite and cable TV services including telecasts from Greece and Turkey, and a number of private radio stations are available; in areas administered by Turkish Cypriots, there are 2 public TV stations, 4 public radio stations, and privately owned TV and radio broadcast stations (2007)


Internet country code:
.cy


Internet hosts:
252,013 (2012)
country comparison to the world: 67


Internet users:
433,900 (2009)
country comparison to the world: 120



Transportation


Airports
15 (2013)
country comparison to the world: 145


Airports - with paved runways
total:13
2,438 to 3,047 m:7
1,524 to 2,437 m:2
914 to 1,523 m:3
under 914 m:1 (2013)


Airports - with unpaved runways
total:2
under 914 m:
2 (2013)


Heliports
9 (2013)


Roadways
total:20,006 kmcountry comparison to the world: 108
government control:13,006 km (includes 2,277 km of expressways)
paved:8,564 km
unpaved:4,442 km
Turkish Cypriot control:7,000 km (2011)


    Merchant marine
total:838country comparison to the world: 13
by type:bulk carrier 278, cargo 163, chemical tanker 77, container 201, liquefied gas 11, passenger 3, passenger/cargo 25, petroleum tanker 62, refrigerated cargo 5, roll on/roll off 9, vehicle carrier 4
foreign-owned:622 (Angola 1, Austria 1, Belgium 3, Bermuda 1, Canada 2, China 6, Denmark 6, Estonia 6, France 16, Germany 192, Greece 201, Hong Kong 2, India 4, Iran 10, Ireland 3, Italy 6, Japan 16, Netherlands 23, Norway 14, Philippines 1, Poland 24, Portugal 2, Russia 46, Singapore 1, Slovenia 5, Spain 6, Sweden 5, Turkey 1, UAE 3, UK 7, Ukraine 3, US 5)
registered in other countries:152 (Bahamas 23, Cambodia 4, Comoros 2, Finland 1, Gibraltar 1, Greece 3, Hong Kong 3, Liberia 9, Malta 32, Marshall Islands 40, Norway 1, Panama 5, Russia 13, Saint Vincent and the Grenadines 3, Sierra Leone 2, Singapore 6, unknown 4) (2010)



Ports and terminals
major seaport(s):area under government control: Larnaca, Limassol, Vasilikos; area administered by Turkish Cypriots: Famagusta, Kyrenia


Military


Military branches
Republic of Cyprus: Cypriot National Guard (Ethniki Froura, EF; includes naval and air elements); Northern Cyprus: Turkish Cypriot Security Force (GKK) (2014)


Military service age and obligation
Cypriot National Guard (CNG): 18-50 years of age for compulsory military service for all Greek Cypriot males; 17 years of age for voluntary service; length of service obligation is 24 months (2014)


Manpower available for military service
Cypriot National Guard (CNG):
males age 16-49:327,875
females age 16-49:287,891 (2010 est.)


Manpower fit for military service
Cypriot National Guard (CNG):
males age 16-49:275,842
females age 16-49:239,862 (2010 est.)


    Manpower reaching militarily significant age annually
male:8,167
female:7,398 (2010 est.)


Military expenditures
2.05% of GDP (2012)
country comparison to the world: 37
2.14% of GDP (2011)
2.05% of GDP (2010) (U)


Transnational Issues


Disputes - international
hostilities in 1974 divided the island into two de facto autonomous entities, the internationally recognized Cypriot Government and a Turkish-Cypriot community (north Cyprus); the 1,000-strong UN Peacekeeping Force in Cyprus (UNFICYP) has served in Cyprus since 1964 and maintains the buffer zone between north and south; on 1 May 2004, Cyprus entered the European Union still divided, with the EU's body of legislation and standards (acquis communitaire) suspended in the north; Turkey protests Cypriot Government creating hydrocarbon blocks and maritime boundary with Lebanon in March 2007


    Refugees and internally displaced persons
IDPs:208,000 (both Turkish and Greek Cypriots; many displaced since 1974) (2012)


Illicit drugs
minor transit point for heroin and hashish via air routes and container traffic to Europe, especially from Lebanon and Turkey; some cocaine transits as well; despite a strengthening of anti-money-laundering legislation, remains vulnerable to money laundering; reporting of suspicious transactions in offshore sector remains weak (2008)

Information provided by CIA - The World Fact Book



Doing Business in Cyprus 2017


           
 

 
Cyprus

  Ease of Doing Business Rank
Overall DTF
45
72.65
 
 
Starting a Business (rank)
53
 
 
Protecting Minority Investors (rank)
27
 
  DTF
91.21
 
  DTF
66.67
 
  Procedures - Men (number)
5.0
 
  Strength of minority investor protection index (0-10)
6.7
 
  Time - Men (number)
6.0
 
  Extent of conflict of interest regulation index (0-10)
6.7
 
  Cost - Men (days)
12.2
 
  Extent of disclosure index (0-10)
8.0
 
  Procedures - Women (days)
5.0
 
  Extent of director liability index (0-10)
4.0
 
  Time - Women (% of income per capita)
6.0
 
  Ease of shareholder suits index (0-10)
8.0
 
  Cost - Women (% of income per capita)
12.2
 
  Extent of shareholder governance index (0-10)
6.7
 
  Paid-in min. capital (% of income per capita)
0.0
 
  Extent of shareholder rights index (0-10)
6.0
 
 

 
  Extent of ownership and control index (0-10)
7.0
 
  Dealing with Construction Permits (rank)
125
 
  Extent of corporate transparency index (0-10)
7.0
 
  DTF
64.01
 
 

 
  Procedures (number)
8.0
 
  Paying Taxes (rank)
34
 
  Time (days)
507.0
 
  DTF
84.45
 
  Cost (% of warehouse value)
1.1
 
  Payments (number per year)
28.0
 
  Building Quality Control Index(0-15)
11.0
 
  Time (hours per year)
127.0
 
  Quality of building regulations index (0-2)
1.0
 
  Total tax rate (% of profit)
24.7
 
  Quality control before construction index (0-1)
1.0
 
  Profit tax (% of profit)
9.5
 
  Quality control during construction index (0-3)
2.0
 
  Labor tax and contributions (% of profit)
13.4
 
  Quality control after construction index (0-3)
3.0
 
  Other taxes (% of profit)
1.7
 
  Liability and insurance regimes index (0-2)
0.0
 
  Postfiling index (0-100)
91.5
 
  Professional certifications index (0-4)
4.0
 
 
 
 
   
 
 
  Trading Across Borders (rank)
45
 
  Getting Electricity (rank)
63
 
  DTF
88.44
 
  DTF
78.33
 
  Time to export: Border compliance (hours)
18
 
  Procedures (number)
5.0
 
  Cost to export: Border compliance (USD)
300
 
  Time (days)
137.0
 
  Time to export: Documentary compliance (hours)
2
 
  Cost (% of income per capita)
130.4
 
  Cost to export: Documentary compliance (hours) (USD)
50
 
  Reliability of supply and transparency of tariff index (0-8)
8.0
 
  Time to import: Border compliance (hours)
15
 
  Total duration and frequency of outages per customer a year (0-3)
3.0
 
  Cost to import: Border compliance (USD)
335
 
  Mechanisms for monitoring outages (0-1)
1.0
 
  Time to import: Documentary compliance (hours)
2
 
  Mechanisms for restoring service (0-1)
1.0
 
  Cost to import: Documentary compliance (USD)
50
 
  Regulatory monitoring (0-1)
1.0
 
   
 
 
  Financial deterrents aimed at limiting outages (0-1)
1.0
 
  Enforcing Contracts (rank)
139
 
  Communication of tariffs and tariff changes (0-1)
1.0
 
  DTF
48.59
 
  Price of electricity (US cents per kWh)
18.7
 
  Time (days)
1100.0
 
   
 
 
  Cost (% of claim)
16.4
 
  Registering Property (rank)
91
 
  Quality of judicial processes index (0-18)
8.0
 
  DTF
63.43
 
   
 
 
  Procedures (number)
7.0
 
  Resolving Insolvency (rank)
16
 
  Time (days)
9.0
 
  DTF
81.38
 
  Cost (% of property value)
10.4
 
  Recovery rate (cents on the dollar)
72.8
 
  Quality of the land administration index (0-30)
23.0
 
  Time (years)
1.5
 
  Reliability of infrastructure index (0-8)
7.0
 
  Cost (% of estate)
14.5
 
  Transparency of information index (0-6)
2.5
 
  Outcome (0 as piecemeal sale and 1 as going concern)
1
 
  Geographic coverage index (0-8)
8.0
 
  Strength of insolvency framework index (0-16)
13.5
 
  Land dispute resolution index (0-8)
5.5
 
  Commencement of proceedings index (0-3)
3.0
 
  Equal access to property rights index (-2-0)
0.0
 
  Management of debtor's assets index (0-6)
5.0
 
 
 
 
  Reorganization proceedings index (0-3)
2.5
 
  Getting Credit (rank)
62
 
  Creditor participation index (0-4)
3.0
 
  DTF
60.00
 
   
 
 
  Strength of legal rights index (0-12)
7.0
 
   
 
 
  Depth of credit information index (0-8)
5.0
 
 
 
 
  Credit registry coverage (% of adults)
0.0
 
   
 
 
  Credit bureau coverage (% of adults)
68.9
 
 
 
 
 

 
   
 
 
 
 
 
 



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