General Info

Cyprus is the third-largest island situated in the eastern Mediterranean south of Turkey, west of the Lebanon, north of Egypt, and east-southeast of Greece. It is one of the most popular tourist destinations in the Mediterranean, attracting over 2.4 million tourists per year.

The capital of Cyprus, Nicosia, the island’s administrative and main business center, is situated in the central plain in the middle of the island. The rest of major cities are located on the coast. Limassol is the second largest city and the island's biggest port. Larnaca and Paphos, which are popular holiday resorts, are the third and fourth largest cities, respectively.

Population

Cyprus’ population is about 788, 457 consisting of Greek Cypriots (80.1%) and Turkish Cypriots who make up approximately 10.9%. The remaining 9% are foreigners (Armenians, Russians, Philippines, Arabs, etc)

Climate

The island enjoys the best type of Mediterranean climate with about 300 days of sunshine per year. Summer temperatures range from moderate in the Troodos mountains to hot in the lowlands. Winter temperatures are mild, but are significantly colder in the mountains with sufficient snow for seasonal ski facilities.

History

History in Cyprus dates as far back as 7000 BC, the Neolithic Age, with settlements along the north and south coasts of the island.

Cyprus was a part of Hellenic Empire, was conquered several times by Assyria, Egypt and Persia, and belonged to the Roman Empire as well. The island was invaded by Richard the Lionheart and then sold to the Knights Templar, who also brought Catholicism with them.

In1489 control of the island passes to the Venetians who fortifed the island and built walls around the Nicosia and Famagusta.

In1571 Ottoman troops invaded the island and Cyprus became a part of the Ottoman Empire. Islam is introduced to the island and Catholicism is expelled. The Greek Orthodox religion is restored.

In 1914, when the Ottomans entered the 1st World War on the side of the Germans, Britain annexed the island. In 1923 Turkey relinquishes all rights to Cyprus and in 1925 Cyprus is declared a Crown colony.

An armed struggle breaks out in 1955 against colonial rule, which lasts until 1960 when the island is granted independence.

In 1974, following a period of violence between Greek Cypriots and Turkish Cypriots, Turkey invaded and occupied one-third of the island. This led to the displacement of thousands of Cypriots and the establishment of a separate Turkish Republic of Northern Cyprus (recognized only by Turkey).

The Republic of Cyprus has a full control over approximately 59% of the island, mainly in the south. The Turkish Republic of Northern Cyprus controls over approximately 36% of the island. The Green Line separating these two territories is controlled by UN and goes through the old city of Nicosia.

Government & Legal System

The structure of Cypriot government is similar to that in other western democracies where human rights, political pluralism and private property are safeguarded.

The Head of State is the President of the Republic. The Council of Ministers, which is appointed by the President, is the executive organ of the Republic. Legislative power lies with the House of Representatives whose members hold office for a period of 5 years. There is a multi-party system of democracy based on proportional representation.

The legal system in Cyprus is based on the same principles as those applicable in the United Kingdom and all statutes regulating business matters and procedures are based essentially on English law.

Economy

The economy of Cyprus is prosperous and has developed in recent years. Cypriot industry sector contributes 22% to GDP and employs 25% of the labor force, while the service sector contributes 89% to GDP and employs 62% of the labor force. Its per-capita GDP is slightly lower than that of France, Germany, Italy and the UK, but slightly higher than averagely in EU. The island is also a popular with offshore businesses, due to its highly developed infrastructure and tax incentives.

Banking

Commercial banking arrangements and practices follow the British model. Strong correspondent networks are maintained around the world by local and international banks. Most of them subscribe to SWIFT, Reuters, Telerate and other services. Thus, they have easy access to the world banking network and are able to carry out traditional and specialized financial transactions.

Education

The island ranks among the leading countries of the world in terms of the proportion of university graduates. As a result of the high educational level of the population and due to historic and economic links between Cyprus, Britain and other European countries, legal, accounting, management, computer and other services are of the highest standard.

Culture

10,000 years of Cyprus history, which left its mark allover the island of Cyprus, makes it impossible to even begin to describe the Cypriot culture. Its uniqueness has also resulted from a fascinating blend of Roman, Byzantine, Greek, Turkish and British cultures.

Apart from the many religious customs and traditions that can be traced back to the origins of Greek Orthodoxy, there are many more relating to music dancing and wine.

Cypriots are also known worldwide for the genuine and sincere hospitality and friendliness. The welcoming spirit of Cyprus is evident all over and it is one of the main factors that so many visitors to the island of Cyprus will return again and again.