Cyprus is the third largest island in the Mediterranean after Sicily and Sardinia, with an area of 9.251 square kilometres. It is strategically located in the Eastern Mediterranean at the crossroads of Europe, Asia and Africa. It has a population of about 818.000 of whom 79% are Greek Cypriots, 11% are Turkish Cypriots and Turks and the remaining 10% foreign residents and workers. The official languages are Greek and Turkish, and English is also widely used, especially in business.

Apart from its strategic geographical location, relaxed way of life and perhaps the best type of Mediterranean climate with about 340 warm and sunny days a year, it offers an excellent commercial infrastructure, a sound legal system modelled on English Law which is becoming fully harmonized with the acquis communautaire of the EU, an educated English-speaking labour force, generous tax incentives and other facilities, a high standard of living and a low crime rate.

An EU member state since 1st May 2004, Cyprus offers a unique experience to investors and trading partners. The strong pro-business attitude, the multi-lingual and highly skilled human capital, the state-of-the-art telecommunications infrastructure, the well served by sea and air connectivity and the 2003 tax reform have made the island one of the most progressive and efficient business locations in Europe.

On 1st January 2008 Cyprus adopted the euro as its currency.