The economic sentiment in Cyprus increased in December by 3.1 points, showing that the business perspectives available for both local and foreign investors operating on the Cypriot market improved. The Economic Sentiment Indicator increased by 3.1 points, in comparison with the previous month. Businessmen who are interested in opening a company in Cyprus should know that the increase is a direct effect of the business activities carried out in the fields of services, retail and construction. Our team of lawyers in Cyprus can offer legal assistance on the legal requirements applicable to foreign investors.
Business confidence in Cyprus in 2016
The Economics Research Centre of the University of Cyprus presented a study in which it was revealed that the Service Confidence Indicator increased as an effect of the business situation of the local companies operating on the Cypriot market.
Those who want to open a company in Cyprus should also know that the local entrepreneurs have declared that they have optimistic views on the company’s turnover on a short term period (the first three month of 2017).
Another positive aspect is represented by the Retail Trade Confidence Indicator, which also increased due to a favourable result related to the company’ sales.
Companies operating in the construction sector have also seen an increase in their order books, which had a positive effect on the Construction Confidence Indicator. Our team of attorneys in Cyprus can offer more details on the construction companies and the business permits that must be obtained for opening this type of business in the country.
Cypriot economic sentiment – record value
At the level of December 2016, the economic sentiment in Cyprus had an overall value of 117 points. This value represents a record for Cypriot business market, which is the highest in the last 16 years.
Businessmen interested in finding out how to set up a company here are invited to contact our law firm in Cyprus, where they can receive personalized advice on various aspects related to the registration of a legal entity.