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Internet & Telecommunications in Cyprus

Internet & Telecommunications in Cyprus

Cyprus has built a surprisingly strong telecom market for its size, with fiber optic networks expanding rapidly across the island. The Fiber network enables the transmission of data at very fast speeds, with innovative technology providing Internet access at speeds of up to 1 Gbps. In the last five years, operators expanded LTE-Advanced and rolled out 5G to 100 percent of the population, while the island invested in trans-Mediterranean submarine cable projects to strengthen its international connections. This digital infrastructure supports both residents and the growing number of remote workers choosing Cyprus as their base. Major Internet Service Providers ​​Cyta, the state-owned telecommunications company, manages most telecommunications and internet connections on the island and is the country's oldest and largest network operator. It has been providing services for over 70 years and expanded to include fixed PSTN, ISDN, DSL, and FTTH, as well as Cytanet Broadband and mobile communications under the Cytamobile-Vodafone brand. Cyta has the widest 4G and 5G coverage, reaching even remote areas and some points at the open sea. Image Credit: financialmirror.com Following recent liberalization of the telecommunications sector, a few private telecommunications companies have emerged. Cablenet is a local telecommunications company that offers a range of internet services, including fiber optic and cable connections, with a well-developed network in Cyprus and competitive pricing. To contact Cablenet,…

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Marion Polis Chrysochous

Marion Polis Chrysochous

On the northwest coast of Cyprus, the small town of Polis Chrysochous sits on top of two ancient cities. Most people who pass through treat it as a quiet stop on the way to the Akamas Peninsula. Few realise that beneath the modern streets, beneath the cafes and the central square, there are over 3,000 years of history. The town is built directly on the ruins of Marion, one of the ten city-kingdoms of ancient Cyprus, and its later successor, Arsinoe. The name "Chrysochous" itself is a clue. It comes from the Greek word "chrysos," meaning gold. This was not a random choice. It was a city that made its name from the ground beneath it. Historical Background The earliest traces of human activity in the area date back to the Neolithic period. The land was occupied long before anyone thought to build a city. According to ancient literary sources recorded by the Byzantine writer Stephanos Vyzantios, Marion was founded by a legendary king called Marieas. Tradition also connects the area to Akamas, the son of the Athenian hero Theseus, who is said to have passed through the region after the Trojan War and gave his name to the nearby cape and peninsula. By the 8th century BC, Marion had grown into a formal city-kingdom. It sat on two low…

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Cyprus Corporate Tax System

Cyprus Corporate Tax System

The corporate income tax rate increased from 12.5% to 15% on January 1, 2026. This change aligns Cyprus with the OECD's Pillar Two global minimum tax framework. Parliament approved the comprehensive tax reform package on December 22, 2025, marking the most significant update to the Cyprus tax system in over two decades. Despite the rate increase, Cyprus maintains competitive positioning within the European Union. The 15% rate remains lower than most EU member states. The reform preserved key exemptions and deductions that define the Cyprus tax advantage. Companies earning profits before 2026 can still apply the previous 12.5% rate to retained earnings under specific conditions. Large multinational enterprises with annual revenues exceeding €750 million face additional considerations. These companies already operate under the Qualified Domestic Minimum Top-Up Tax, which took effect in 2025. The QDMTT ensures compliance with global minimum tax requirements while maintaining domestic competitiveness. Core Tax Exemptions That Remain Unchanged Cyprus continues to exempt dividend income from taxation. Companies receiving dividends from Cyprus resident or foreign entities pay zero corporate tax on this income. This exemption applies regardless of where the distributing company operates, subject to certain anti-abuse provisions. Capital gains from the sale of shares remain tax-free. Companies can dispose of securities, bonds, debentures, and other corporate titles without triggering corporate income tax. This creates significant advantages…

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