Doing Business in Cyprus

EENI Business School & HA University


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Syllabus of the Subject - Doing Business in Cyprus. Nicosia.

  1. Introduction to the Republic of Cyprus (European Union)
  2. Economy of Cyprus: The world's fourth largest ocean fleet
  3. Doing Business in Nicosia
  4. Cypriot Foreign Trade
  5. Foreign Direct Investment (FDI) in Cyprus
  6. Access to the Cypriot Market
  7. Business Plan for Cyprus

The objectives of the subject “Doing Business in Cyprus” are the following:

  1. To analyse the Cypriot Economy and Foreign Trade
  2. To evaluate the business opportunities in the Cypriot Market
  3. To analyse the trade relations of Cyprus with the country of the student
  4. To know the free trade agreements of Cyprus as a member of the European Union (EU)
  5. To develop a business plan for the Cypriot Market
The Subject (e-learning) “Foreign Trade and Business in Cyprus” is part of the following Higher Education Programs (EENI- School of Business & HA University):
  1. Doctorate: Europe
  2. Professional Master's Programs (e-learning): Europe, International Business

Recommendations for the Cypriot Students

Course learning materials in Higher Education in English + Tertiary Education in Spanish Chipre Post-secondary Education in French Chypre Study in Portuguese Chipre.

  1. Credits of the subject “Doing Business in Cyprus”: 1 ECTS
  2. Duration: one week

Description of the Subject (Online Learning): Doing Business in Cyprus

The Republic of Cyprus (Europe)

  1. Capital: Nicosia
  2. Cypriot Official Languages: Turkish and Greek
  3. Area: 9,251 square kilometres
  4. Cypriot Population: 1.14 millions of people
  5. Type of Government: Presidential Republic
  6. Nearest countries (by sea): Turkey, Syria and Greece
  7. Religion in Cyprus: Orthodoxy (Christianity)
  8. Cyprus belongs to the Orthodox Civilisation (European Economic Area)
  9. Independence: 1960 (the United Kingdom)
  10. Northern Cyprus was occupied by Turkey (1974) creating the Turkish Republic of Northern Cyprus (only recognised by Turkey)

Economy of Cyprus.

  1. The Cypriot service sector is one of the pillars of the economy of the Republic of Cyprus
  2. The Cypriot Industrial sector employs 25% of the population
  3. GDP (nominal): 22,446 millions of dollars
    1. Agriculture: 2%
    2. Industry: 19%
    3. Services 79%
  4. GDP per capita: 29,830 dollars
  5. Cypriot Currency: Euro (2008)
  6. Cyprus joined the European Union in 2004
  7. 2012: rescue of the European Union (17,500 millions of euros)
  8. In 2013 a “corralito” was imposed in Cyprus
  9. The fleet of vessels registered in Cyprus represents the fourth largest in the world

Cypriot Foreign Trade.

  1. Main Cypriot Exports are citrus, cement, potatoes, medicines, dresses
  2. Top Trading Partners of Cyprus are Greece, Germany, the United Kingdom, Italy
  3. As a member of the European Union, Cyprus is the beneficiary of the EU Free trade agreements

International Economic Relations of Cyprus

  1. International Chamber of Commerce
  2. Organisation for Economic Cooperation and Development (OECD)
  3. European Union
  4. Economic Commission for Europe (UNECE)
  5. World Trade Organisation
  6. World Bank
  7. European Investment Bank (EIB)
  8. United Nations
  9. Group of States of the Council of Europe Convention against the corruption (GRECO)
  10. International Monetary Fund (IMF)
  11. European Bank for Reconstruction and Development
  12. Asia-Europe Economic Meeting (ASEM)
  13. Organisation for Security and Cooperation in Europe (OSCE)

Examples of the subject - Foreign Trade and Business in Cyprus:
European Union-Egypt Association Agreement

European Union-Chile Free Trade Agreement (FTA)

Organisation for Security and Cooperation in Europe (OSCE)



(c) EENI- Business School & Hispano-African University of International Business