Cyprus is an ideal location to conduct business due to a number of factors. In the years following the dissolution of the Soviet Union, Cyprus gained great popularity as a portal for investment from the West into Russia and Eastern Europe. More recently, there have been increasing investment flows from the West, through Cyprus, into Asia (particularly China and India), South America and the Middle East. In addition, businesses from outside the EU use Cyprus as their entry-point for investment into Europe, making Cyprus a financial centre in the Eastern Mediterranean. Cyprus experienced a high GDP growth rate of 3.6% in 2017.

Cyprus constitutes one of the largest ship management centres in the world; around 50 ship management companies and marine-related foreign enterprises conduct their international activities in the country, while the majority of the largest ship management companies in the world have established offices on the island. Its geographical position at the crossroads of three continents and its proximity to the Suez Canal has promoted merchant shipping as an important industry for the island nation. As of 2013, Cyprus had the 10th largest merchant fleet in the world, and the 3rd largest in the EU.

Cyprus is a major exporter of pharmaceuticals, refined petroleum, ships, cheese, citrus fruit, cement, and ready-to-wear products. Greece has traditionally been a major trading partner with Cyprus, accounting for 14% of total exports of goods and services and 19% of total imports in 2014. Other major trading The Economy of Cyprus partners include Britain, Israel, Italy and Germany.

Due to its favourable geographical location and existing infrastructure, Cyprus is considered today as a world service centre. Business minded persons can benefit from a strong and straightforward tax framework and competitive tax rates. Cyprus also holds a number of double taxation treaties with numerous jurisdictions. In addition, Cyprus offers one of the lowest corporate tax rates.

Education in Cyprus is overseen by the Ministry of Education and Culture. The education system is divided into pre-primary education (ages 3–6), primary education (ages 6–12), secondary education (ages 12–18) and higher education (ages 18+).

Full-time education is compulsory for all children aged between 5 and 15. Public education is free for all Cypriots.

Private Education is of a very high standard, available in English and at comparatively low costs for all education levels.

The Cyprus healthcare system is divided into public and private sectors. Public healthcare is either inexpensive or free, at least for citizens of the EU and even private healthcare costs can be relatively affordable. Both state-funded and private hospitals can be found in all of Cyprus's major cities.