Established with a Council of Ministers of the Government of Cyprus decision in 2007, the Cyprus Investment Promotion Agency is a registered not-for-profit company limited by guarantee and fully funded by the Government of Cyprus. The Board of 13 Directors (10 from the private and 3 from the public sector) was appointed for an initial 4 year term.
Operating since January 2008, the Cyprus Investment Promotion Agency has a threefold mandate:
• To promote Cyprus as an attractive international investment centre in key priority growth sectors
• To advocate reform in Cyprus required to improve the regulatory and business environment and infrastructure
• To provide investor support with after care and further development services
CIPA succeeds the efforts of the Foreign Investors Centre at the Ministry of Commerce, Industry and Tourism and takes the lead in attracting foreign direct investment in conjunction and partnership with the private sector and related government organizations and agencies.
CIPA has established its membership with the World Association of Investment Promotion Agencies (WAIPA) and Med-Invest, the Mediterranean Countries’ Investment Promotion Agency Foundation. Memberships in these and other fora provide a platform of best practices sharing and learning in the area of FDI promotion and strategy implementation.
CIPA is actively involved in advocating key reforms to remove hurdles and strengthen the regulatory and business environment in Cyprus which is fundamental requirement to attract and retain foreign direct investment, especially in an increasingly competitive global economic framework.
The CIPA team is dynamic and tightly knit with a broad array of expertise both locally and globally. CIPA encourages foreign businesses to explore opportunities for investment in Cyprus.
Established with a Council of Ministers of the Government of Cyprus decision in 2007, the Cyprus Investment Promotion Agency is a registered not-for-profit company limited by guarantee and fully funded by the Government of Cyprus.