Annual tourist arrivals in Cyprus have seen a 32% increase this year, as announced by the Tourism Minister. A steady stream of tourist arrivals is anticipated until November. It's evident that Cyprus is enjoying a prosperous tourism year. Arrivals have risen by about 32%, and revenues have jumped by 34%. An increase in per capita spending further highlights this positive trajectory.

In recent years, Cyprus has carved a niche for itself as a global business epicenter, making it a prime location for corporate headquarters and foreign investments. Its modern infrastructure, a plethora of multilingual and top-tier professionals across diverse fields, and the prevalent use of English in business dealings position Cyprus to further its stature as a regional business and investment powerhouse. Cyprus boasts one of Europe's most competitive corporate tax rates at just 12.5%, positioning it as a top choice for businesses and entrepreneurs.

The IP-Box program offers a beneficial tax framework for companies engaged in intellectual property pursuits, encompassing IT development. This initiative substantially lowers the tax implications on earnings from eligible assets like software, mobile apps, games, patents, and other intellectual creations.