- Access to finance
- Attracting investors
- Support of companies' growth
- Support of internationalisation
Κυπριακός Οργανισμός Προώθησης Επενδύσεων (ΚΟΠΕ)
Cyprus Investment Promotion Agency (CIPA)
International businesses interested in doing business in Cyprus.
The Cyprus Investment Promotion Agency (CIPA) operates as a full-service centre for companies exploring investment opportunities in Cyprus. It constitutes the central agency of Cyprus for information, support, and foreign investors' relations. Moreover, recognising the importance of serving the established foreign-based companies, the centre also provides aftercare and development services aimed at anchoring existing investors in Cyprus.
Its objectives are as follows:
- to play a vital role in attracting foreign direct investment in Cyprus;
- to constitute itself as a central agency for the provision of information and support to interested investors;
- to develop and implement an investment promotion strategy;
- to liaise with any governmental, semi-governmental, municipal, local or other departments, services, agencies and authorities, with a view to facilitating the process for granting any necessary permits, approvals, consents or other authorisation, as may be required under any applicable law.
Cyprus government has developed a scheme for promoting start-up business. The scheme is promoted via CIPA on a special dedicated platform called ‘Launch in Cyprus’. The website provides information on incentives, on how to set up a start-up business in Cyprus as well as information on special arrangements for a start-up visa for Cyprus.
- National funds
Established as a registered not-for-profit company limited by guarantee, funded by the Cyprus government and reporting to the Ministry of Energy, Commerce, Industry and Tourism.
CIPA, besides attracting new investors, assists local business to overcome financial difficulties by providing access to investments by international players. In its 2016 annual report, CIPA points its role in the facilitation of foreign direct investments in Cypriot owned companies, such as the €40 million recapitalisation of Piraeus Bank (now renamed to Astrobank) or the €260 million purchase of a local pharmaceutical company by the South-African Ascendis Health.
CIPA fulfils a policy advocacy role; its institutional framework and operational structure allow the government to adopt flexible procedures to effectively respond to changing demands and challenges.
No information available.