About Cyprus

Facts and useful information relating to the Tech, FinTech and Finance Sector, Cyprus

Search for Jobs in Cyprus HERE

With its warm climate and a landscape steeped in culture and history, Cyprus is one of the most cosmopolitan of all the Mediterranean islands. The weather certainly isn’t cold, with summer temperatures reaching a day peak of 44 degrees Celsius and an average of around 20-25 degrees for the rest of the year. 


There are a lot of exciting activities available in Cyprus, across our beautiful, natural landscape. Our art history and culture goes back 10,000 years, with its ties to ancient Greece. There are, of course, our wonderful beaches, sea-caves, crystal clear azure waters and mountains, which all provide the perfect setting for water sports and leisure. 


All cities in Cyprus are located within an hour’s drive from Limassol. Nicosia is the capital; but Limassol is the most diverse city, having a large international community of expatriates from the UK, the Middle East, Russia, France and many European countries.


Read on for information regarding connectivity, talent statistics, the Cyprus tech sector, the Cyprus finance sector, general business environment in Cyprus and digital nomads. 

limassol seafront
Limassol has a chic vibe all of its own, with its luxury 5 star hotels, beautiful blue-flag beaches, quayside restaurants, marinas and nightlife. Families can cycle, roller skate and have fun in peace and safety. 
Nicosia is home to many government offices, banking HQ’s and professional service providers such as lawyers, accountants and investment advisors. Nicosia is not coastal, unlike Limassol, therefore it doesn’t have the ‘riviera style’ charm of attracting businesses internationally. Nicosia is slightly less diverse in comparison to the other coastal cities such as Larnaca and Paphos with their rich culture and history. 
Nowadays co-working spaces are becoming common in Cypriot cities, a measure of the business-centric activity on the island.


Cyprus’ digital infrastructure offers high speed reliable connectivity; the country’s semi-government owned telecommunications company has developed an extensive submarine fibre-optic cable network linking Cyprus with neighbouring countries such as Greece, Israel, Syria, Lebanon, Egypt and, by extension, with the rest of the world. 
Cyprus has also developed an equally impressive satellite earth station infrastructure, which has justifiably earned a place for Cyprus as a regional telecommunications hub, together with the development of broadband and quadruple play services. 


The country’s population of around 1.2 million people, around 80% of whom speak English as a second language, are known for their sophistication and high standards of education. Cyprus has the highest percentage of citizens of working age who have higher-level education in the EU at 30%. In addition, 47% of the population aged 25–34 have tertiary education, which is the highest percentage in the EU. Cyprus’ service providers and local talent are generally graduates of the most prestigious British, European and US Universities.

Financial Sector

Total Number of employees employed at Cyprus Investment Firms (CIFs) at the end of June 2021 was 5,895 people.

Here is the growth since 2019:


These CIFs are further supported by an array of other firms and service providers, which raises the official number significantly and makes the financial services industry in the country sizeable and important for the economy.

Source: Cyprus Securities and Exchange Commission (CySEC).

Tech Sector 

Cyprus is a destination for global talent and innovative companies, over 140 tech companies are present in Cyprus with over 8750 employees in Cyprus and 12000 employees outside Cyprus. Source: thetechisland.org  TechIsland has set an ambitious mission to make the tech industry the most impactful driver of GDP growth, tax revenue increase, and job market expansion on the island by the year 2030. The Cyprus government in October 2021 announced new incentives for the attraction of talent to Cyprus, facilitation of work permits for talent for 3rd country nationals and incentives for businesses These measures will be effective from January 2022 and further information and press release from the President of the Republic of Cyprus can be found here at the link.

Business environment

Since Cyprus joined the EU in 2004, all of its cities have become home to hundreds of companies that have chosen Cyprus as an ideal jurisdiction for incorporation; including holding companies, trading entities, service providers, investment firms, fund management, Forex traders and deep-tech organisations. 
Corporation tax is one of the lowest in the EU at 12.5%, which has attracted over 200,000 international organisations employing high-calibre personnel from the local and expatriate communities. 

Digital Nomads

Cyprus is an ideal location for Digital Nomads due to its economy, culture/lifestyle, immigration laws and attractive taxation system:
  • The geographical location of Cyprus forms a bridge between Europe and the Middle East and North Africa (MENA). 
  • EU residents can reside and work legally. Non-EU citizens, if fitting the criteria, can obtain work permits or immigration through investment.
  • All of an individual’s income, regardless of where it is earned worldwide, must be subject to the Cyprus taxation scheme as long as the tax payer is non-domiciled (i.e. not born in Cyprus nor lived there continuously for no more than 17 years). Provided that the taxpayer lives in Cyprus for at least 60 days annually, they can benefit from this regime.  

Cyprus Tech Hub and Financial Centre in Europe


You can join thousands of people who have relocated here to Cyprus, the crossroads of Europe and Asia, with its modern thriving infrastructure of Telecoms, Information Technology, airports and shipping. For further information here are some useful links on living and working in Cyprus, setting up or relocating a company to Cyprus, connectivity, taxation, strategy for attracting business, strategy for attracting talent, cyprus work permits, Tech events (Reflect Fest), Forex & FinTech events and salary information. 


Now is the time to be one step ahead by sending us your CV or register with us here and start your search for a new job by signing up to job alerts and more.


We look forward to welcoming you to Cyprus! 

For more information contact Emerald Zebra consultants, email: jobs@emeraldzebra.cy