Cyprus government will organise a business mission to the United States in late November, with President Nikos Christodoulides taking part, as interest from US companies in investing on the island increases, the President announced on Monday.
Addressing the annual general assembly of the Association of Large Developments in Nicosia, President Christodoulides said the mission would be organised in cooperation with the US Government and would aim to present the investment opportunities offered by Cyprus.
‘We are seeing particularly increased investment interest from US companies,’ he said, adding that the initiative was part of broader government efforts to attract quality and productive investment, following similar business missions to other countries.
The President also stressed the government’s efforts to improve the business environment and make Cyprus more attractive to international investors. These include simplifying, digitising and speeding up licensing procedures, as well as the operation of a Business Service Centre to support strategic developments. He also pointed to the tax reform that came into force on January 1, 2026, saying it aimed, among other things, to strengthen the competitiveness of Cypriot businesses and create more favourable conditions for investment.
The President said the government was seeking to establish a stable, competitive and transparent institutional framework in which businesses could plan with confidence and invest for the long term. He stressed that growth should be measured not only through economic indicators but also through the quality of jobs created and its contribution to citizens’ everyday lives.
On housing, he announced that 460 homes were being planned on state-owned land in cooperation with the private construction sector, representing an investment of more than pound 70 million. The government’s overall investment in housing policy exceeds pound 300 million, he said, adding that increasing housing supply, making use of public land and providing planning incentives were key to addressing affordability.
President Christodoulides called on the construction and investment sectors to contribute their expertise and capacity to expanding available housing, stressing that cooperation between the public and private sectors was essential for a more productive, competitive and resilient economy.
He also referred to the resilience of the Cypriot economy despite international uncertainty and ongoing challenges, saying the government intended to sustain growth through responsible economic policy, prudent fiscal management and continued reforms. He said attracting investment that creates well-paid jobs and strengthens the added value of the economy remained a central objective.
Addressing the assembly, Cyprus Chamber of Commerce and Industry (CCCI) President Stavros Stavrou said major developments were an integral part of the country’s economic progress, contributing to infrastructure improvements, investment, job creation and the strengthening of Cyprus’ international image as a business and investment destination. He stressed that maintaining a stable, transparent and predictable investment environment, alongside faster implementation of strategic projects, was essential to sustaining investor interest despite international uncertainty.
Association of Large Developments President Andreas Demetriades called for a review of the framework governing strategic investments, noting that only one application had so far been announced as approved under the legislation introduced in 2023, with the fast-track licensing procedure becoming operational in late 2024. He said requirements for securing at least 50% of project financing at an early stage, before all essential permits have been obtained, as well as limited flexibility for investors, were discouraging the use of the framework. He called for a genuine one-stop shop for strategic investments and closer consultation with investors to remove practical obstacles.
Demetriades also urged the government to assess the impact of the tax reform on investment and business activity, while highlighting the need to address housing shortages, high energy costs and delays affecting major tourism and development projects. He called for integrated tourist villages to be recognised as strategic developments and for outstanding issues holding up projects, including golf courses, to be resolved. The Association’s 16 members manage developments worth more than pound 8 billion, including marinas, casinos, golf courses, universities, medical centres, tourism complexes and technology and research parks, he said.