This applies not only to the rapidly developing oil and gas industry, but also to small and medium-sized businesses.
The main advantages that Cyprus offers investors are its strategically advantageous location, legal system in line with EU legislation and an attractive taxation system.
In this article we will talk about what business to open in Cyprus for Russians and others, and we will talk about several of the most promising areas.
What business to open in Cyprus: construction company
The construction business in Cyprus is supported at the state level, which is beneficial for private companies. If you intend to invest large sums in the Cyprus economy, you should pay attention to this industry. The Government of Cyprus actively encourages the private construction sector, which has been growing very rapidly in recent years, attracting increasing amounts of foreign capital.
What business to open in Cyprus: rent
This is one of the most profitable and actively developing areas of business in Cyprus today. There is great demand for renting commercial real estate (both individuals and legal entities). In particular, offices, premises for various events, parking lots, etc. are excellent for rent.
If you have sufficient capital to build an office complex or business center in Cyprus, your investment is guaranteed to pay off very quickly and bring you a solid income.
Residential properties in Cyprus also rent very well, especially when it comes to tourist or student housing.
What business to open in Cyprus: consulting services in the field of education
Cyprus is home to several universities ranked among the best in the world. One of the main advantages of university education in Cyprus is that teaching is conducted in English. This attracts a huge number of foreign students to Cyprus. If you are planning to invest in the service sector in Cyprus, this option is one of the most successful. You can help foreign students with admission to universities in Cyprus, finding housing, obtaining a study visa, etc.
What business to open in Cyprus: clearing and forwarding business
The shipping sector in Cyprus is one of the most dynamic and highly profitable industries. Import is one of the key areas, because Cyprus imports a huge amount of goods. If you are wondering what kind of business to open in Cyprus, consider creating a clearing or forwarding company. This business, with the right approach, can bring really big profits.
Tourism business in Cyprus
It’s no secret that Cyprus is one of the most popular tourist destinations, attracting travelers from all over the world, so the tourism business in Cyprus promises to be a profitable enterprise. We should also not forget about such a direction as medical tourism, which is very developed in Cyprus. It is worth noting that to open a tourism business in Cyprus, you must obtain a special license from the state.
What business to open in Cyprus: transport sector
This business is another profitable area for investment and starting your own business in Cyprus, promising good profits. The Cyprus transport sector is open to foreign investors and welcomes them. If you are looking for an answer to the question of what kind of business you can open in Cyprus, this option can be called one of the most promising. You can go into the road or water transport sector, or develop both directions – the choice is yours.
Cyprus’s location makes it an important transport hub. Regarding shipping, Cyprus has very favorable tax rates for this type of business. In addition, Cyprus has concluded bilateral agreements in the field of merchant shipping with many countries around the world.
If your financial capabilities allow, you may well get into air transportation. Transport business in Cyprus requires significant investments and a competent approach, but its profitability is really worth the resources spent.
What business to open in Cyprus: car service
Cyprus occupies a high position in the ranking of countries in terms of the number of cars per capita. This is why a car service is a good idea for a business in Cyprus. If you are a professional auto mechanic, you can easily open your own auto repair shop in Cyprus. The main thing in this matter is to choose the right place with good traffic. Then you are guaranteed high profitability, because there will be no end to customers.
What business to open in Cyprus: web design and hosting services
An interesting idea for those who are wondering what kind of business to open in Cyprus. There are many small companies in this country that do not have their own website. They should be your main target audience if you are planning to open your own website design and hosting business in Cyprus. In this case, you will have to take on the role of an educator who will explain to small businesses in Cyprus the importance and necessity of their own website.
If you manage to approach the owners of small companies in Cyprus and convince them of the need to position themselves on the World Wide Web, describing all the benefits that their own website will bring to their business, you will literally find yourself sitting on a gold mine.
What business to open in Cyprus: insurance
If you have sufficient experience in the insurance business, and you are looking for ideas on what kind of business you can open in Cyprus, then we hasten to please you: the insurance business sector in Cyprus is currently thriving, and creating your own insurance brokerage The company promises high profitability.
What business to open in Cyprus: banking business
Another interesting direction for starting a business in Cyprus. With sufficient funds and relevant knowledge, you can create and grow a thriving banking business in Cyprus. The tax system of this country offers favorable conditions for holders of this type of business, which is an additional advantage.
What business to open in Cyprus: indoor golf center with a shop and bar
If you have sufficient capital to purchase a large land property in Cyprus, consider this option of starting a business in Cyprus. With a competent approach to organization, you can receive a stable profit: money will be brought in not only by the golf club, but also by the store and bar.
What business to open in Cyprus: diving center
Without a doubt, this direction is one of the most promising. Many tourists coming to Cyprus are eager to explore the depths of the sea in the vicinity of the island, and the main point of attraction is still the site of the shipwreck of the Swedish ferry Zenobia, which occurred in July 1980, about one and a half kilometers from the shores of Larnaca.
This article provides only 12 ideas of what kind of business you can open in Cyprus. In reality, of course, there are many more possibilities, and it’s up to you which one to choose. With a thoughtful approach and competent organization, any business in Cyprus can become prosperous, since the economy of this country, as mentioned at the beginning of the article, is actively developing, and everything indicates that this trend will not change in the near future.
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