Doing Business in Cyprus

Use of Agents and Distributors; Finding a Partner

It is relatively easy to find qualified Cypriots to serve as agents and distributors and hundreds of US and European companies are already represented here on an agency/representative basis. Cypriot agents/ representatives normally market foreign products and services under binding agency agreements based on commissions. It is generally agreed that Cypriot agents are reliable and pursue their work objectives aggressively and with a keen business sense. In Cyprus, a Commercial Agent has to register with the Council of Commercial Agents and receive a license with a registration number. Importers/distributors/dealers are free of any registration.


Travel Considerations

Budget meal: US$5-7
Mid-range restaurant meal: US$12-16
Top-end restaurant meal: US$20 and up

Budget lodging: US$8-15

Mid-range lodging: US$15-30
Top-end lodging: US$50 and up

Compared to Western Europe, travel in southern Cyprus is moderately inexpensive; compared to the Middle East, you'll find it pricey. You'll need to budget around $35 a day if you're going to stick to public transport, stay in very cheap rooms and live mostly on food from shops rather than from restaurants. Around $70 a day will let you stay in a mid-range place, eat out twice a day, and get about in a hire car. The cost of tourist commodities in the Republic and in the North are similar, though the North is better value when it comes to eating out and at the budget end of accommodation options. Accommodation is more expensive in July and August on both sides of the Green Line.

Usual Holidays and Festivals

January 1 (New Year's Day)
January 6 (Epiphany Day)
March 2 (Clean Monday - Start of Lent)
March 25 (Greek Independence Day)
April 1 (EOKA Day)
April 17 (Good Friday)
April 18 (Holy Saturday)
April 28 (Easter Monday)
June 8 (Holy Spirit Day)
August 15 (Assumption Day)
October 1 (Cyprus Independence Day)
October 28 (OHI Day)
December 24 (Christmas Eve)
December 25 (Christmas Day)
December 26 (Boxing Day)

Some Useful Sources of Information

The official web site of the Republic of Cyprus as maintained
by The Press and Information Office (PIO)
http://www.kypros.org/PIO/

Official Cyprus Govt Pages - A collection of all govt related web-resources
http://www.kypros.org/Government/

Business Guide on Cyprus - The best and most comprehensive links collection
http://www.dasi.com.cy/

Publication, intended to provide a brief picture of Cyprus as an offshore
center and illustrate the requirements and procedures required to establish
such an entity
http://www.cytanet.com.cy/studio9/offshore.htm

Cyprus Industry On-Line - Official Industry web-sites of Cyprus
http://www.kypros.org/CIO/

Window on Cyprus

http://www.windowoncyprus.com/

Cyprus: A Centre For International Business
http://digiserve.com/azias/cyprus/bus-main.html

Markets and Sectors
http://www.tradeport.org/ts/countries/cyprus/sectors.html

Market Access
http://www.tradeport.org/ts/countries/cyprus/market.html

Investment Climate
http://www.tradeport.org/ts/countries/cyprus/climate.html