Home
About
About IFTF
Press Corner
Resources
Learning
Networking
Earning
Projects
Visual Stories of Female Entrepreneurs
Events
IFTF#Success 2014
IFTF#Talent 2013
IFTF Warsaw 2012
IFTF Zagreb 2011
IFTF Istanbul 2011
Contact
Cyprus
Financial Sector Enabling Environment in
Cyprus
Cyprus
Ease of doing business (rank)
36
Starting a business (rank)
37
Starting a business - Cost (% of income per capita)
12.4
Starting a business - Procedures (number)
6
Starting a business - Time (days)
8
Starting a business - Minimum capital (% of income per capita)
0
Dealing with construction permits (rank)
80
Dealing with construction permits - Cost (% of income per capita)
51.1
Dealing with construction permits - Procedures (number)
9
Dealing with construction permits - Time (days)
677
Registering property (rank)
99
Cost (% of property value)
9.7
Procedures (number)
6
Time (days)
28
Protecting Investors (rank)
32
Getting credit (rank)
53
Trading across borders (rank)
18
Enforcing contracts (rank)
108
Enforcing Contracts - Cost (as % of claim)
16.4
Enforcing Contracts - Procedures (number)
43
Enforcing Contracts - Time (days)
735
Resolving insolvency (rank)
25
Source: World Bank Doing Business 2013 (RANK: Best=1; Worst=185)
Registering property
Cyprus made property transfers faster by computerizing its land registry.
Paying taxes
Cyprus made paying taxes more costly for companies by increasing the special defense contribution rate on interest income and introducing a private sector special contribution and a fixed annual fee for companies registered in Cyprus. At the same time, it simplified tax compliance by introducing electronic fi ling for corporate income tax.
Conclusion
Although average overall score in terms of doing business, Cyprus still has room for improvement in the area of enforcing contracts, especially time needed for contracts enforcement which is still highly time consuming.
The most problematic factors for doing business in Cyprus:
Access to financing
Inefficient government bureaucracy
Restrictive labor regulations
Insufficient capacity to innovate
Inflation
Government instability/coups
Tax rates
IFTF Members from
Cyprus
Our Network
FOLLOW US!