Key Figures

Chief of State:
President Nicos Anastasiadies
Head of Government:
President Nicos Anastasiadies

Overview

Government Name:
Republic of Cyprus
Constitution:
Constitution of 1960 collapsed in 1963 due to a dispute between the Greek and Turkish Cypriots.
Government Type:
Republic
Republic of Cyprus Flag
Coat of Arms of Republic of Cyprus

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2018)

Country Risk Rating

A4
A somewhat shaky political and economic outlook and a relatively volatile business environment can affect corporate payment behavior. Corporate default probability is still acceptable on average. Source: Coface (2018)

Government Branches

Main Powers Election Process Election Cycle 1
Executive

The president is the head of state and government that exercises the executive power.

The president is elected by absolute majority vote through a two-round system.

5 years

Judicial

The supreme court is independent of the executive and legislative branches.

Supreme court judges are appointed by the president of the republic upon the recommendation of the current supreme court judges.

No term limit

Legislative

The house of representatives shares the legislative power with the government.

The house of representatives has 80 members elected by open list proportional representation in multi-member constituencies.

5 years

Regional Trade Blocs

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
The VAT Service
Tax Name:
VAT

Sources:

  1. ElectionGuide http://www.electionguide.org/
  2. EY, http://www.ey.com
  3. CIA World Factbook, https://www.cia.gov/library/publications/the-world-factbook/
  4. U.S. Bilateral Relations Fact Sheets http://www.state.gov/r/pa/ei/bgn/