Cyprus is strategically located in the north-eastern basin of the Mediterranean Sea at the crossroads of Europe, Asia and Africa. It is 65km south of Turkey, 96km west of Syria, 385km north of Egypt, 980km southeast of Athens and 328km west of Israel. It covers an area of 9,251 square km, making it the third largest island in the Mediterranean Sea. Cyprus has an estimated population of about 800,000 of which 78% are Greek Cypriots, 18% are Turkish Cypriots and 4% of other ethnic origins.
The capital of Cyprus is Nicosia, which is the main administrative and business centre of the island. There are five other towns: Limassol, Paphos, Larnaca, Famagusta and Kyrenia. (note: Famagusta and Kyrenia remain under Turkish occupation since the Turkish invasion in 1974). The legal system in Cyprus is a mixture of legislative statutes and case law and has been based on English Common Law. The official languages are Greek and Turkish. However, both the government and the private sector use the English language extensively. During the past decades, Cyprus has become an established reputable International Business center. This is not only because of its strategic location, the excellent telecommunications and the high standard of professional services but mainly because of the tax and other incentives that International Companies and businessmen enjoy in Cyprus.
For more information on the Cypriot tax and legal system, please refer to our Publications section.