Cyprus
Membership in EU:2004
Political system:Republic
Capital city:Nicosia
Total area: 9 000 km²
Currency:Euro (EUR)
Economy | Business Protocol | Legislative and Political System | More about the Country | Order a Business Information Report (BIR)
Economy
Statistical Office

Chamber of Commerce and Industry

Entrepreneurship in the Country

The island’s main economic activities are tourism, export of clothing and craft products and merchant shipping. Traditional crafts include embroidery, pottery and copper products.
Business Directories

Local Communities

Business Protocol
Business Communication

Cypriots prefer face-to-face meetings rather than doing business by telephone or in writing, which are regarded as too impersonal.
It takes time to develop relationships; this may be accomplished in the office, over extended lunches, dinners, and social outings.
Once a relationship has developed, their loyalty will be to you personally, rather than to the company you represent.
If your company changes representatives, the relationship building will need to begin anew.
It is imperative to show deference and respect to those in positions of authority.
When dealing with people at the same level, business communication can be more informal.
Avoid confrontation. Cypriots do not like publicly admitting they are incorrect.
Under no circumstances should you ever let someone think that you do not trust them, since trust and personal relationships form the cornerstone of business.

Business Meetings

Appointments are necessary and should be made in advance.
The initial request should be in writing and may be confirmed by telephone.
Punctuality is expected, although you should be prepared to be kept waiting. Avoid hyperbole and making exaggerated claims about your products or services.
Meetings often veer off the agenda.
Meetings may be interrupted frequently, so be patient.
Decisions are not reached at meetings. Meetings are for discussion and to exchange ideas.
Business Negotiation

Personal relationships are the foundation of a successful business relationship.
Who you know can be more important, than what you know.
Do not raise your voice or appear upset or emotional, while speaking.
Business discussions can be lengthy.
Contracts are crucial and will be followed to the letter.
Cypriots are skilled negotiators.
Expect a great deal of bargaining.
Opening bids should leave a great deal of room for negotiation and concessions on both sides.
Legislative and Political System
President

Government

Ministries

Constitutional Court

Legislation

More about the Country
Geographical Characteristics

An island country is the largest island in the eastern Mediterranean. It is located south of the Turkey. The island is dominated by two mountain systems - the narrow Kyrenia Range extends along the northern coastline and Trodos Mountains cover most of the southern and western parts of the island. In the centre lies the central and fertile plain of Messaoria.
Languages

Greek, Turkish and English.
Short History

Cyprus is an ancient crossing point between Europe, Asia and Africa. It was constantly changing the civilizations, which is proved by numerous traces – Roman theatres and villas, Byzantine churches and monasteries, castles of Crusaders and prehistoric settlements.
Time Zone

GMT/UTC + 2
International Dialing Code

+357
Average Temperatures

July 28 0C, January 10 0C.
Opening Hours of Banks

Monday – Friday: 8.15am – 1.00pm.
Opening Hours of Post-Offices

Mondays, Tuesdays, Thursdays and Fridays: 7.30am – 1.30pm and 3.00pm – 6.00pm.

 

Wednesdays and Saturdays: 8.30am – 10.30am.

Opening Hours of Shops

Legally permitted opening hours of stores:

 

Summer time:

Monday - Friday: 9.00am – 8.30pm.

 

Winter time:

Monday - Friday: 9.00am – 7.00pm.

Credit Cards

Credit cards are widely accepted in Cyprus: Visa, Dinners Club, Carte Blanche, MasterCard–EuroCard, American Express. They are accepted in many hotels, restaurants and stores, as well as in almost every petrol station.
Foreign Currency Exchange

Apart from the banks, foreign currency can also be exchanged in exchange offices, hotel receptions, tourist agencies, petrol stations and larger department stores.
Mobile Telecommunications

The country is almost entirely covered by mobile telephony signal, since the operators have concluded contracts with larger European and world operators. Mobile phones in the country are designed to function within the network of frequency bands 900 MHZ and 1800 MHZ. You can host in the following mobile networks: Cytamobile, MTN Cyprus, Kibris Telekom.
Anti Smoking Law

From January 1st 2007 smoking is partially prohibited. It is allowed only in restaurants, bars, pubs and night clubs with separated areas for smoking and non smoking guests.
Emergency Telephone Numbers

Police

199

Toll-free European emergency number (EEN)

112

Medical emergency

199

Fire emergency

199

Population of the State

Population of the Capital

Demographics

Religion

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