Cyprus has a strategic location, being at the crossroads of Europe, Asia, Africa and Middle East. The island shares the same time zone as other major centres in the area and is also within easy travelling distance to and from the rest of Europe and the Middle East with daily flights to all major destinations.
As a country Cyprus is an independent state, financially and politically stable, member of international organizations like the United Nations and the European Union (E.U.) and has a well established reputation for being an international financial and business services centre. In particular, Cyprus accession to the E.U. in 2004 increased the island’s security and stability, making it an ideal place for business in the volatile Eastern Mediterranean and Middle East region. As of 1st January 2008, Euro is the currency of Cyprus. The adoption of Euro is a proof of Cyprus’ strong economy but also, an additional incentive to do business on the island without currency surprises.
Although Greek and Turkish are the official languages of the country, English is the main language in business and is widely spoken. Cyprus is also proud for its literacy rate which is 98% at secondary education level and 65% for graduate/post-graduate studies.
Finally, the country has one of the most advanced telecommunications infrastructures in Europe while the telecoms industry is fully liberalized.