Cyprus emerges as an exceptionally attractive business prospect, boasting a business-friendly environment. With a stable and developed economic system, Cyprus offers businesses the opportunity to enjoy benefits such as high liquidity, excellent quality of loan products, and significant support from the Cypriot financial system.
The Cypriot government has adopted tax and legislative structures that encourage entrepreneurship, providing attractive tax incentives and flexible business procedures. Additionally, the country is known for the stability of its monetary system and high-level infrastructure, creating an ideal environment for business development and success. With these positive attributes, Cyprus stands out as one of the preferred business prospects in the broader region.
Regarding Cypriot banks, there is steady and robust economic growth, reinforced by a growth rate of 2.3% in the second quarter of 2023, surpassing the Eurozone average.
Despite the environment with increasing interest rates, there is new lending of approximately €1.6 billion. Benefiting from savings and repayments, the healthy condition of the serviced loan portfolio amounting to €9.9 billion remains stable on an annual basis.
Cypriot banks declare another strong quarter of profitability, achieving a high Return on Tangible Equity (ROTE) for the third consecutive quarter , above 20%. The upgrade to an investment-grade by Moody’s confirms the sustainability and strong position of the Cypriot financial sector..
With high liquidity, strong loan portfolio quality, and a stable capital position, Cypriot banks distinguish themselves in a competitive and resilient financial environment.
At EPIDOSIS, we can support you in establishing a Cypriot company or expanding your presence in Cyprus, including setting up a CY Branch.
You can send us a message on the Contact Form or you can call at our offices in Athens 2106810690 on in Thessaloniki 2310477725 to set the date of the seminar.
