Cyprus Frontier
Europe · Nicosia · EUR (Euro)
Economy & industry overview
Cyprus is a small, open island economy in the eastern Mediterranean and a full European Union member state since 2004. The economy is heavily services-oriented, with tourism, financial and professional services, shipping, and real estate constituting the dominant sectors. Nominal GDP reached approximately USD 36.3 billion in 2024, with real GDP growth of approximately 3.8 percent in 2025, supported by strong tourism receipts, growing professional services, and expanding offshore energy exploration activity. Cyprus uses the euro as its official currency and operates a low corporate-tax regime of 12.5 percent, one of the lowest within the EU, making it a significant regional holding-company and financial-services jurisdiction. The country is advancing toward Schengen Area accession and has made significant progress in resolving legacy non-performing loan issues from its 2012–2013 banking crisis.
Key sectors
📘 Learn everything about Cyprus →Macro
| GDP nominal, USD | $36.33B |
| GDP growth real, annual | 3.8% |
| Inflation annual | 2.8% |
| Population people | 1.2M |
| GDP per capita USD | $32,999 |
| Market cap total listed, USD | $10.93B |
| Market cap / GDP | 30.1% |
| Unemployment | 4.9% |
| Listed companies | 110 |
| Exchange | Cyprus Stock Exchange (CSE) |
Data year: 2024. Sources: World Bank Development Indicators 2024, IMF World Economic Outlook April 2026, Trading Economics / World Bank GDP data, Focus Economics Cyprus, Cyprus Stock Exchange (cse.com.cy), CEIC Data – Cyprus Stock Exchange listed companies, FinancialReports.eu – Cyprus Stock Exchange, Global Citizens Solutions – Cyprus Golden Visa 2026, Global Residence Index – Cyprus Golden Visa 2026, Astons – Cyprus Permanent Residency 2026, CBInsights – Hellenic Bank / Eurobank acquisition, Worldometer Cyprus GDP 2026, emergingmarkets.ai Cyprus profile.
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LatviaLargest listed companies
The biggest companies on the main local exchange, by market capitalisation.
| # | Company | Sector | Market capUSD | US listing |
|---|---|---|---|---|
| 1 | Bank of Cyprus HoldingsBOCH · CSE | Banking & Financial Services | $2.80B | — |
| 2 | Logicom Public LtdLOG · CSE | Technology & ICT Distribution | $320.00M | — |
| 3 | Cyprus Cement Public Company LtdCCEM · CSE | Construction Materials | $95.00M | — |
| 4 | Aristo Developers LtdARIS · CSE | Real Estate & Property Development | $85.00M | — |
| 5 | Demetra Investment Public LtdDEME · CSE | Investment Holding | $75.00M | — |
| 6 | Petrolina (Holdings) Public LtdPETR · CSE | Energy & Fuel Distribution | $65.00M | — |
| 7 | Aphrodite Hills Resort Public LtdAPHR · CSE | Tourism & Hospitality | $55.00M | — |
| 8 | Vassiliko Cement Works Public LtdVCW · CSE | Construction Materials | $48.00M | — |
| 9 | Louis plcLOU · CSE | Tourism & Hospitality / Shipping | $42.00M | — |
| 10 | Lordos Hotels (Holdings) Public LtdLORD · CSE | Tourism & Hospitality | $32.00M | — |
| 11 | Salamis Tours (Holdings) Public LtdSALA · CSE | Tourism & Travel Services | $22.00M | — |
| 12 | C.T.O. Hellenic Holidays LtdCTOH · CSE | Tourism & Travel Services | $18.00M | — |
US-traded ETFs
Funds listed in the US that give exposure to this market — the simplest route for many US investors.
| Ticker | ETF | Issuer | Scope | Expense ratioannual % | Exposure% of fund |
|---|---|---|---|---|---|
| VNM | VanEck Vietnam ETF | VanEck | Single-country Reference only | 0.66% | 0% |
| EMXC | iShares MSCI Emerging Markets ex China ETF | BlackRock / iShares | Broad EM Reference only | 0.25% | 0% |
| GUR | SPDR S&P Emerging Europe ETF | State Street / SPDR | Regional Delisted Reference only | 0.30% | 0% |
Local exchange & access
| Exchange | Cyprus Stock Exchange |
| Code | CSE |
| Website | www.cse.com.cy |
| Currency | EUR |
Local broker access
The Cyprus Stock Exchange operates on the Xetra trading platform, shared with the Athens Stock Exchange via a common platform established in 2006. Settlement is T+2. International retail investors can access CSE-listed equities through brokers with European market access, such as Interactive Brokers, though liquidity on many smaller-cap names is limited. Trades are denominated in euros. There are no dedicated single-country US-listed ETFs for Cyprus; regional frontier or emerging-Europe ETFs may provide partial indirect exposure. CySEC (Cyprus Securities and Exchange Commission) is the national securities regulator.
Global brokers with foreign-market access
- Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
- Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
- Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
- Fidelity International Trading — International stock trading on a number of developed and emerging markets.
Listed for convenience only — not a recommendation. Available markets, fees and onboarding rules differ by broker and by your country of residence.
Relocation & residency
Investment visa / residency programme
Grants Permanent residency (for life, renewable ID card every 10 years)
Cyprus operates a Permanent Residency by Investment programme (informally called the 'Golden Visa'). Non-EU nationals may obtain permanent residency by investing a minimum of EUR 300,000 in approved assets, which include new residential or commercial real estate, company shares, or regulated investment funds registered in Cyprus. Applicants must also demonstrate a minimum annual income of EUR 50,000 from abroad (plus EUR 15,000 for a spouse and EUR 10,000 per dependent child). The programme covers the main applicant, spouse, and dependent children. The permanent residence permit is granted for life, with the identity card renewed every ten years, and holders must visit Cyprus at least once every two years to maintain status. Cyprus's former Citizenship by Investment programme was terminated on 1 November 2020. The current programme offers a pathway to eventual Cypriot (and thus EU) citizenship after satisfying standard naturalisation requirements, including an extended period of legal residence.
Minimum investment: $323.00K
Need help applying? Specialist investment-migration advisers such as Henley & Partners.
Foreign-investor access
Cyprus offers a non-domicile (non-dom) tax residency regime under which qualifying new residents pay no tax on dividends or interest (Special Defence Contribution) for up to 17 years. The standard personal income tax rate is progressive up to 35 percent, but the first EUR 19,500 of annual income is tax-exempt. Cyprus has a relatively low cost of living compared to Western Europe, English is widely spoken, and the legal system is based on English common law. The country is not yet a full Schengen member but is an EU member, meaning EU nationals have full freedom of movement rights. International schools and several UK-affiliated universities operate on the island. The Civil Registry and Migration Department administers residency applications.
US-listed ADRs & cross-listings
Companies from this country whose shares also trade in the US — investable in a normal US brokerage account.
| Company | US ticker | Local ticker | Note |
|---|---|---|---|
| Bank of Cyprus Holdings plc | BOCH | Bank of Cyprus is listed on the Cyprus Stock Exchange (CSE) and has previously maintained a cross-listing on the London Stock Exchange (LON: BOCH) and the Athens Stock Exchange. As of 2024–2025, the primary listing is on the CSE. There is no current US-listed ADR or OTC programme for Bank of Cyprus. US investors seeking exposure would need to access the CSE or LSE listing through an internationally-capable broker. |