Cyprus’ excellent infrastructure, hot Mediterranean climate and idyllic scenery make it a popular location for international business. Sun, sea and nightlife attract visitors from all over Europe, but venture further afield and you find the impressive ruins of Salamis, the ancient city of Curium and the birthplace of Aphrodite at Paphos. Nicosia is the last divided capital in the world, while the Turkish north is replete with Gothic castles. The country’s well-developed transport network and full quota of mod cons are simply additional bonuses.
Cyprus is also an island divided. After independence from Britain was achieved, a separate state was created in the north after a 1974 coup d’etat resulted in a Turkish invasion. Strong divisions persist today; the south is a prosperous member of the EU, while the north is politically and economically isolated. Following the Greek debt crisis, however, relations between Greece and Turkey have started to thaw as both nations look to strengthen their economies, which could have beneficial knock-on effects for Cyprus.
There is a diverse service-based economy, though despite a high degree of trade liberalisation networking remains a key factor in developing business. Cypriots are skilled negotiators, so you should be prepared to bring your best business face to the table, and remember that opening bids should leave a great deal of room for concession on both sides.
Getting there
Lanaka and Pafos airports serve the south, while Ercan airport serves the Turkish north. There are no passenger ferries to the south, though there are ferry routes connecting Turkey with the north.
Getting around
There is no train network, but buses and service taxis cover most of the island. Distances are short; driving and cycling are both practical ways of getting around.
Local information
Language: Greek, Turkish
Time: UTC+2
Climate: Warm Mediterranean. Hot, dry summers and cool, wet winters. Temperature: Max 37°C (July), Min 6°C (January). Rainfall: Max 110mm (December), Min mm (July-August)
Currency: Euro
Business etiquette: Greet by shaking hands. Face-to-face meetings are preferred to telephone or email. Tabled offers are seen as highly negotiable. Relationships take time to build and loyalty is to an individual and not the company they represent – new representatives must begin anew.
Tipping: 10-15 percent if there is no service charge.
Duty free: 200 cigarettes or 50 cigars or 250g tobacco; 1l spirits (over 22%) or 2l fortified wine or sparkling wine; 2l still wine; 50g perfume; 250ml eau de toilette.
Safety: Tensions remain between Greek and Turkish Cypriots and terrorist attacks are possible. Violent incidents occur near the UN buffer zone. Avoid large public gatherings. The crime rate is low but petty crime is common in urban areas.
Laws: Official authorisation is required to explore archaeological sites. Seek legal advice before purchasing property in the north as there have been disputes over the validity of land title.
Healthcare: Vaccination for tetanus required. Excellent medical facilities available, European citizens get free healthcare with an EHIC card (except in north Cyprus). Non-EU may be charged and should have health insurance.
Socket type: Type F (north only), Type G
