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About Cyprus

Overview

Identifying exclusively as a multi-continental island and the birthplace of Aphrodite, Cyprus’ fascinating history and promising economic future entice increasingly more corporate arrivals each year. Cypriot serviced apartments have therefore grown in demand, highlighting the growing tourist popularity of Cyprus.


About Cyprus

Tucked in the east of the Mediterranean, Cyprus is sea’s third largest island. Covering only 3,500 square miles of land, populated by just over one million people, Cyprus is the sixth smallest nation in Asia. Despite its apparent geographical position in Asia, Cyprus is European politically. It has been divided since 1974 between Turkish and Greek influencing Cypriot governments, north and south respectively. Despite this division, unification is underway and did not stop at least three million internationals travelling to Cyprus last year. Of great fascination to arrivals is the capital city Nicosia, the only remaining divided capital in the world. Serviced accommodation is also most centralised here.

The earliest evidence of inhabitants in Cyprus goes back to around 10,000 BC. Since, undoubtedly due to its crossroad geographical location, Roman, Byzantine and Venetian periods of rule have dominated the land. Tension truly emerged though in the late 1500s, when the Ottoman Empire Turks settled. Cyprus was essentially in the middle in of religious and territorial disputes, as Greeks populated the land too. Ottomans remained in control into the nineteenth century. Then, of course, came the British, which was initially favoured by the Cypriots in hope of Greek enosis. The foundation of the Cypriot EOKA shows how this hope dwindled, and violent uprisings led to eventual independence in 1960. Although Cyprus became independent with its first president, future decades still saw Greek-Turkish disputes over territory. Despite the present-day divide, national economic progression has still continued.

ECONOMIC CLIMATE

The open free-market economy of Cyprus is undergoing a phase of speedy growth. After overcoming a period of financial crisis, the economy is now one of the top Eurozone performers. The island acts as a business gateway between Europe, Asia and Africa. This is complemented by the strong airline and telecommunication infrastructure in Cyprus, contributing to foreign trade representing 131% of the national GDP. Aware of its island-status, Cyprus is also one of the most influential shipping nations, has the largest crew management centre in the world. It is also important to remember the significance of tourism, with a record amount of arrivals in Cyprus for three successive years.

A remarkable eight-fold increase in overseas investment into Cyprus in 2017 is not coincidental. Cyprus’ credit standing has not gone unrecognised. Introduction of new equity capital, approved tax measures, and the National Interest Deduction (NID) regime all collectively create an attractive business environment. Corporate tax rates are particularly appealing and one of the most competitive in the EU, at 12.5%. The government has also vowed to cut through red tape, and alter the judicial system, enabling comfortable, simple foreign investing. Investment opportunities are most required om real estate, energy and upmarket tourism sectors. With an expected four million arrivals generating a €3.5 billion expenditure by 2025, investment in tourism infrastructure is vital. Demand for Cypriot serviced accommodation has also emerged as a result.

LIFE IN CYPRUS

Citizens of fifty-eight states are exempt from visa requirements to Cyprus. Residents of Australian, Britain, Canada and the US amongst those, for ninety-day stays in Cyprus. These are also extendable. For a full list of nationals eligible to enter Cyprus visa-free, visit www.cyprusvisa.eu. We recommend doing extensive research before travelling to Cyprus though, with regard to the territorial division. Deepening on whether you travel north or south, depends on the culture, people and attractions you will see. Thankfully, transit between either side is relatively straightforward and obliging, but it is worth planning your trip as if you visiting, in essence, across two different countries.

Driving in Cyprus has a European influence, and like you would in the UK, Cypriots drive on the left-hand side of the road. Nationals of the EU countries and many more will not require an International Driving Permit to drive in Cyprus, as a full national driving license is appropriate. As an experience though, driving in Cyprus can be relatively satisfying, with no toll roads and recent infrastructure projects underway. On the other hand, you could travel via taxis. Be aware though that services differ in the north and south. Something to also be aware of is which currency you pay with. As the country is split, the Turkish Lira applies in the north, whilst the Euro is used in the south. Depending on where you travel, check the appropriate exchange rates at www.xe.com.

ATTRACTIONS

As mentioned previously, attention to ancient history in Cyprus is vast. Wherever your serviced apartment is, it is likely that you will never be far from an ancient Cypriot site. Located along the southwestern coastline, Kourion was an important Cypriot ancient city. Most valuable about the area nowadays though is the amazing Acropolis structure, alongside the magnificent House of Eustolios, home to beautiful mosaics and art. Equally mesmerising is the city of Salamis. This site perhaps displays a lengthier time period of Cypriot history, incorporating Hellenistic pillars, Byzantine churches, and a reservoir area expressing ancient influence. To fulfil your mythological interest though, visit Petra tou Romiou located between Limassol and Paphos. The area is supposedly the birthplace of Greek goddess Aphrodite, therefore attracting plenty of tourists all year round.

In terms of cultural diversity, there is probably no better capital city to visit than Nicosia. Both North and South Nicosia, belonging to Turkey and Greece respectively, is the governmental, business and cultural hub of Cyprus. Museums here are in abundance. The likes of the Byzantine, Leventis, and especially, the Cyprus museum reiterating the beating cultural heart status of Nicosia. Perhaps the most famous attraction though is St. Hilarion Castle. Upon the bumpy hilltop is the fairy-tale Byzantine castle, showcasing amazing architecture, assisted by staggering views. Overall though, walking through Nicosia and Cyprus feels like going back in time. Despite business prosperity and simple but regular transport through both sides of the capital, it’s hard to avoid the culture and historical remnants.

Venturing to Cyprus for business and leisure is as popular as ever. The combination of a fascinating past, stable present, and prosperous future makes staying in Cypriot corporate accommodation almost a no-brainer.

Transport

Larnaca International Airport (LCA)

The city of Larnaca in southeast Cyprus is home to the country’s biggest and busiest airport. There are only two commercial airports in Cyprus, with Paphos International Airport (PFO) being the other located in southwest Cyprus.

Both airports feature regular bus services and several taxi operators to help visitors to and from serviced apartments in Cyprus. There are however no domestic air services available across the country.

By Bus

Within no railway transport in Cyprus, both locals and tourists rely on the bus network for Cyprus travel. Bus types vary numerously from privately owned to state-owned companies, so a good way to track all the available routes is to visit www.cyprusbybus.com.

The larger or busier the location you in, the more urban the bus services are likely to be. ‘Peak’ seasons are also a thing in Cyprus. City connections are fulfilled though by the InterCity Bus Company all year round.