The economy of Cyprus is based on a free enterprise system. The Government's role is limited to regulation, planning and the provision of public utilities. During the last ten years, the economy of Cyprus has demonstrated spectacular growth and its currency has enjoyed relative stability. Agriculture, whilst important, is no longer the principal source of income for the economy, although this sector remains the largest employer. Tourism and Services represent the largest proportion of the gross national product and the progress of the service sector has exceeded expectation.
Manufacturing also provides an important source of foreign exchange.
Yes, but does not apply to offshore companies. TYPE OF LAW Civil code with many English Common Law influences. 113, as amended. The powers and objects of a Cyprus company are contained within the Memorandum of Association and have to be specific. Any word that the Registrar considers undesirable.