Key Figures

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


Government Name:
Republic of Cyprus
Constitution of 1960 collapsed in 1963 due to a dispute between the Greek and Turkish Cypriots.
Government Type:
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 (2023)

Country Risk Rating

Political and economic uncertainties and an occasionally difficult business environment can affect corporate payment behavior. Corporate default probability is appreciable. Source: Coface (2022)

Government Branches

Main Powers Election Process Election Cycle 1

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


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


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:


  1. ElectionGuide
  2. EY,
  3. CIA World Factbook,
  4. U.S. Bilateral Relations Fact Sheets