Legal, Financial, Accounting, Consultancy
Legal and Accounting Services
Cyprus inherited a legal system based on Common Law. The legal profession is long established and consists of many independent law practices. Highly qualified and well trained professionals can provide expert and reliable advice on all aspects of business and commercial law, both local and international, while most large law firms are affiliated or collaborate with international law firms.
Most accountants are British trained and members of either the Institute of Chartered Accountants or the Chartered Association of Certified Accountants. Many international firms are represented on the island providing full accounting, auditing and consulting services.
Banking, Finance and Consultancy
The banking sector is well developed and caters for a wide variety of financial needs of both businesses and individuals. The commercial banks and specialised financial institutions offer full and varied local, national and international services on personal and corporate level.
Cyprus offers a wealth of qualified professionals who can provide advice and implement recommendations. Many business and financial consultants gained experience working in multinational enterprises before setting up in Cyprus. They offer advice on the entire spectrum of modern business and investment.
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On account of the high level of medical facilities and the excellent wellness and recuperation environment as well as the favourable climatic conditions, Cyprus aspires to become a regional as well as an international healthcare centre. Medical institutions in both the private and public sectors are backed up by advanced and internationally recognized research centres.
In the medical sector there are investment possibilities in the improvement of e-Health services to the public sector, specialised medical services and the development of rehabilitation centres. Approximately 60,000 health travellers visit Cyprus every year, with the overwhelming majority coming from the UK, followed by Germany, Israel and the Middle East, Sweden and Italy.
Cyprus also provides investment opportunities in wellness services thanks to its moderate climate, clean seas and rich natural environment. With the island’s renowned hotels and resorts, the potential to develop wellness tourism is well supported. Having an established tourism product ripe for diversification, with over 300 days a year of sunshine and the existence of thermal springs, spas and therapy centres, are of particular interest.
Further information can be obtained from the Cyprus Health Services Promotion Board.
Cyprus offers a range of reputable public and private schools, including international, all providing excellent levels of education, preparing candidates for entry into higher education institutions in Cyprus and abroad.
The Higher Education institutions in Cyprus are recognised internationally and offer a wide range of courses and degree programmes, contributing to the ranking of Cyprus amongst the countries with the highest proportion of graduates. The local educational establishments attract also foreign students from all over the world, rendering the island a major educational centre in the region.
Graduates of Cyprus institutions flourish academically and professionally everywhere in the world, proving that Cyprus provides them with the knowledge, experience and values that are needed for a demanding and competitive environment.
If you wish to obtain more information regarding Education in Cyprus, please visit the Cyprus Ministry of Education and Culture website.
Shipping, Ship management and Transhipment
Recent years have witnessed the development of Cyprus into an international shipping centre for the conduct of sea-borne activities and the rendering of shipping services. The island ranks high among the leading maritime nations without being a flag of convenience. Moreover, Cyprus is considered to be one of the world’s largest ship management centres and serves also as a major freight forwarding hub in the region. A large number of bonded warehouses facilitate the conduct of international and transit trade.
For further information please visit the Shipping Deputy Ministry.