.

Geography

Cyprus is the third larger Mediterranean island, with a total area of 9,251 sq. Km.
Cyprus's geographical position - a stepping-stone to three continents ( Europe,
Asia and Africa ) - is ideal as a centre for international business.

Climate

The island enjoys four seasons, with dry summers and mild winters. Average
temperatures range from 13 C in winter to 36 C in the summer.

Population

The today estimated population of Cyprus is approximately 700,000. Greek
Cypriots form by far the larger ethnic group, accounting for about 80% of the
population. Turkish Cypriots comprise the second larger group ( at 18% ), while
others make up the rest.

Towns

The capital and the commercial centre of the Cyprus is Nicosia with a population
of approximately 210,000. Limassol is the main industry centre and the main port
of the island. The other two main towns are Larnaca and Paphos.

Economy

The economy of Cyprus is based on free enterprise, with most economic activity
taking place in the private sector . The service sector which dominates the
Cypriot economy, accounts for about half of the employment and almost 2/3 of its
GDP.

Government

Cyprus is a Presidential Democracy. Presidential elections as well as the House of
Representatives are held every five years, the same with the. Both of the elections
are held by popular vote.

Currency and Banking

Cyprus has its own currency - the Cyprus Pound made up of one hundred cents.
One Cyprus Pound is approximately equivalent to two US dollars. In addition to
the six large local banks there is a number of International Offshore Banking
Units operating in Cyprus.

International Relations

Cyprus is a member of the United Nations and the Council of Europe as well as
member of the British Commonwealth. On 4 July 1990, Cyprus formally applied
for membership to the European Union which is still under consideration.

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