Recently, the "2020 Global Competitiveness Report" published by the Swiss Institute of Management Development (IMD) has been released, showing that Cyprus has risen from 41st place in 2019 to 30th place in 2020, becoming one of the countries with the fastest growth in ranking!
The Global Competitiveness Report has been published for 32 years since 1989 and is recognized as one of the most authoritative rankings of national competitiveness due to its long history, high status, and scientific methodology. The report evaluates competitiveness based on four criteria: economic performance, government efficiency, business efficiency, and infrastructure, listing the competitiveness performance of 63 economies worldwide.
Cyprus's rapid rise in the competitiveness ranking indicates improvements across all four indicators that constitute the assessment criteria.
In terms of economic performance, Cyprus has risen from 19th place last year to 13th place. The report indicates that the efficiency of Cypriot enterprises has improved due to reduced corporate debt, an increase in the workforce, and improvements in the financial environment and business practices.
In terms of business efficiency, Cyprus ranks 35th, up from 52nd in 2019. The report points out that Cyprus has made significant progress mainly due to the continuous improvement of the overall economic situation, particularly in employment and attracting investment. Compared to 2019, Cyprus has made great strides in long-term labor growth rates, budget surpluses, and fixed capital investment growth rates.
In terms of national efficiency, Cyprus ranks 21st, up from 32nd last year. The improvement in Cyprus's national efficiency is mainly reflected in public finance, a good institutional environment, a favorable business environment, and improvements in the welfare state.
The World Competitiveness Center of the Swiss Institute of Management Development (IMD) also conducted a public opinion survey, which revealed that three important factors making the Cypriot economy attractive are: a business-friendly environment, a competitive tax system, and a high level of workforce education.
Cyprus not only ranks high in global competitiveness but also performs exceptionally well in healthcare, passport index, education, and safety:
2020 WHO Global Best Healthcare Country: 24th in the world
2020 Global Passport Index Ranking: 8th in the world
2019 Ranking of Countries with High Proportion of Higher Education: 1st in the EU
One of the EU countries with the lowest tax rates, with a corporate tax rate of only 12.5%
Proportion of General Practitioners per Capita: 7th in the EU
2020 World Safety Ranking: 5th in the world
2019 Global Livable Destination Ranking: 5th in the world
The island of Cyprus is filled with cranes, offshore drilling platforms are brightly lit, and infrastructure such as roads and communications is continuously updated, all indicating its economic recovery. As the economy develops faster, Cyprus will attract more investors, and 2020 remains a good time to invest in Cyprus, which may further enhance Cyprus's future global competitiveness ranking.
Currently, through the Cyprus Investment Program, investors can purchase properties in Cyprus starting from €2 million (whether one or multiple properties) and make a donation of €200,000, not only obtaining permanent ownership of the property and participating in the Cypriot investment market but also allowing three generations of the family to apply for Cypriot EU passports, enjoying the benefits of EU citizenship in education, healthcare, and pensions, thus achieving dual benefits from investment status.
As a member of the European Union and the Commonwealth, the Cypriot passport combines the benefits of both. Holding a Cypriot EU passport allows visa-free access to over 160 countries and regions, and also enables free movement, work, residence, and study in any of the 27 EU member states (including Germany, Austria, Italy, France, Finland, etc.), the three member states of the European Economic Area (Norway, Iceland, Liechtenstein), and Switzerland, totaling 31 European countries, while enjoying the generous benefits of EU citizenship in EU countries.
Meanwhile, Cyprus's application to join the Schengen Area has received preliminary approval from the EU. As a country that is expected to be one of the few that combines membership in the EU, the Eurozone, the Commonwealth, and the Schengen Area, its status is undoubtedly valuable. Interested investors should seize the current good investment opportunity in Cyprus, apply early, obtain status early, and benefit early!
The Worldway Group, ranked among the top 500 Asian brands, has maintained good interaction with the Cypriot government for many years. In 2011, it was one of the first to introduce the Cyprus Permanent Residency and Citizenship by Investment Program to China, starting an exciting journey of investment immigration to Europe; in 2014, the "Paphos Night" events in Beijing and Shanghai were investment and cultural exchange activities themed around European cities.
2020 is the year of health planning! Health planning, identity first. For more details, please consult the hotline: Mainland China: 400-138-2929 Hong Kong, China: (852)2802 8798.
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