The Cypriot authorities approved the Budget 2017, which provides many benefits for the local economy. An important aspect related to the Cypriot Budget 2017 is that the Gross Domestic Product (GDP) will increase by 2,8% per year, in the period of 2017 -2019. Foreign businessmen who are interested in opening a company in Cyprus can have many business opportunities, as the local government is aiming at sustainable growth. In this sense, the Cypriot authorities are interested in increasing the competitiveness in the business environment and to reduce the unemployment rate. Our attorneys in Cyprus can provide more details on how businesses can benefit from the stipulations on the new Budget.