About Cyprus

About Cyprus

Cyprus is ranked 31st in the world out of 187 countries according to the 2011 Human Development Report published by the UN, with a Human Development Index (HDI) value of 0.840.

Being the third largest island in the Mediterranean, Cyprus is famous for being the crossroads of Europe, Africa and Asia. She is situated in the eastern corner of the Mediterranean Sea and has close links to the busy air and shipping routes that link Europe with the Arab countries and the Far East, making the island perfectly tuned and ideally placed for all business in the region.

On 1st May, 2004 Cyprus became a member of the European Union. This valuable agreement has enabled the island to become an important key outpost in the Eastern Mediterranean and so develop essential investments from Europe, Africa and Asia.


Location: Eastern part of the Mediterranean Sea between Europe, Africa and Asia.
Area: 9,250 square metres.
Coastline: 648 Kilometers.
Climate: Hot, dry summer and cool winter.
Terrain:  Central plain with mountains to north and south, scattered but significant plains along the southern coast.
Time Zone: GMT +2.


GDP (per capita): $29,400 (2011).
GDP (real growth rate): 0.5% (2011).
Labour Force:   414,000 (2011).
Unemployment: 7.6% (2011).
Currency: Euro (€).


Population: 839,000 (2011 Census).
Ethnic Groups: Greek Cypriot: 60% - Turkish Cypriot: 24% - Other: 16% (2011 Census).
Religion: Greek Orthodox: 78% - Muslim 18% - Other (including Maronite and Armenian Apostolic): 4%.
Language: Greek and Turkish (English widely spoken).


Government: Presidential Democracy.
Country Name: Republic of Cyprus.
Capital: Nicosia.
Administrative Division: Six Districts: Famagusta, Kyrenia, Larnaca, Limassol, Nicosia and Paphos. (Please note: divisions under Turkish occupation include Kyrenia, most of Famagusta and a small part of Nicosia).
Political Situation: Cyprus is a presidential republic that has a President who is head of state and Head of government and is elected for a five-year term. Executive power is exercised by the government with legislative power in the house of representatives. Turkey invaded Cyprus in 1974 and now occupies around 40% of the island. Cyprus became a member of the EU on 1st May, 2004.
© 2020 H&P Accountants. All rights reserved.