1 Presented by: Charalambos Orphanides Senior Commercial and Industrial Officer Ministry of Commerce, Industry & Tourism Republic Of Cyprus w ww.mcit.gov.cy/tsw w w. m c i t. g o v. c y / t sw ww.mcit.gov.cy/tsw w w. m c i t. g o v. c y / t s a Business Center of Excellence Vilnius 12 June, 2012

2 key strengths EU and Eurozone member state EU and Eurozone member state Strategic location Strategic location Macroeconomic stability Macroeconomic stability Favourable tax environment Favourable tax environment Renown Int. shipping Centre Renown Int. shipping Centre Advanced Infrastructure Advanced Infrastructure Enviable Quality of Life Enviable Quality of Life Advanced professional services Advanced professional services Open Stable Economy Open Stable Economy Republic of Cyprus Ministry of Commerce, Industry & Tourism

3 ideally positioned for business Republic of Cyprus Ministry of Commerce, Industry & Tourism EuropeEurope AfricaAfrica Middle East & Asia ideally located to serve 3 continents a strategic choice, allowing to reach new, highly promising markets

4 Republic of Cyprus Ministry of Commerce, Industry & Tourism a business centre of excellence Advantages as an International Business Centre Modern and transparent legal framework Offers confidence safety and security Low Corporation Tax and wide network of Double Taxation Treaties Discovery of hydrocarbon offshore a major development Liberal FDI Policy Low Set Up and Operating Costs Financial Center offering wide spectrum of banking and accounting services

flexible and dynamic economy Open stable Economy/Microeconomic Stability Growth for 2011:0,5% Inflation rate:3,3% (2011) Unemployment 6.7% (2011) GDP per capita : € (2011) Fiscal Total Public Debt: € million(2011) Deficit as% of GDP 6,11% (2011) 71,8% of 2012 Index of Economic Freedom 20 th most liberated economy 5 Republic of Cyprus Ministry of Commerce, Industry & Tourism

6 Republic of Cyprus Ministry of Commerce, Industry & Tourism Trade & tourist relations with Lithuania TOTAL EXPORTS TO LITHUANIA 2011 €3.9 mil. YEAR 2010: YEAR 2010: EXPORT OF SERVICES TO LITHUANIA €3.7 mil. EXPORT OF SERVICES TO LITHUANIA €3.7 mil. IMPORT OF SERVICES FROM LITHUANIA €1.5 mil. IMPORT OF SERVICES FROM LITHUANIA €1.5 mil. YEAR 2011: TOURISTS YEAR 2011: TOURISTS FROM LITHUANIA TO CYPRUS 2182 FROM CYPRUS TO LITHUANIA 1668 FROM CYPRUS TO LITHUANIA 1668 TOTAL IMPORTS FROM LITHUANIA 2011 €1.6 mil.

7 Republic of Cyprus Ministry of Commerce, Industry & Tourism WHERE TO INVEST Banking and Financial Services Banking and Financial Services Shipping Shipping Energy – Hydrocarbon exploration activities - renewable energy source Energy – Hydrocarbon exploration activities - renewable energy source Professional Services Professional Services Wellness Tourism Wellness Tourism Education Education Information and Telecommunication Technologies (ICT) Information and Telecommunication Technologies (ICT) Research and Development (R&D) Research and Development (R&D) Medical Services Medical Services Re-exporting to existing and newly emerging markets Re-exporting to existing and newly emerging markets

Ship and ship management Cyprus ranks among the leading maritime nations An international shipping Centre for the conduct of maritime activities One of the world's largest shipping management centers Shipping Taxation System huge success 8

9 Republic of Cyprus Ministry of Commerce, Industry & Tourism a Services Sector, at your service Critical Role and most dynamic growing Sector, accounting for more than 80% of GDP Critical Role and most dynamic growing Sector, accounting for more than 80% of GDP Qualified professionals Qualified professionals Ideal location for establishing an international holding company Ideal location for establishing an international holding company Focused strategic support and expertise in servicing overseas clients Focused strategic support and expertise in servicing overseas clients Financial and Services Gateway Financial and Services Gateway

10 Republic of Cyprus Ministry of Commerce, Industry & Tourism a Services Sector, at your service Professional services ● Accounting – Auditing ● Banking ● Legal ● Financial ● Consulting ● Architectural ● Civil Engineering Business services ● Management ● Consulting ● Insurance ● Computing ● Information technology ● Software Development Marketing services ● Market research ● Advertising & Promotion R&D services ● Analyses ● Testing ● Technology Transportation services ● Logistics ● Shipping ● Travel-related Support services ● Education & Training ● Health Care

11 Republic of Cyprus Ministry of Commerce, Industry & Tourism ConclusionConclusion Cyprus offers significant benefits and opportunities to international companies (ie. tax system, infrastructure, human capital). Cyprus offers significant benefits and opportunities to international companies (ie. tax system, infrastructure, human capital). The Cyprus Government gives its full support and has right policies to serious co-operation between Cypriot and Lithuanian companies. The Cyprus Government gives its full support and has right policies to serious co-operation between Cypriot and Lithuanian companies. Welcome to explore Cyprus and discover the advantages that it can offer Welcome to explore Cyprus and discover the advantages that it can offer

12 For more information, please contact: MINISTRY OF COMMERCE, INDUSTRY & TOURISM 1421 Nicosia, Cyprus