Free Zones

The operation of the Free Zones is ruled by the provisions of the Free Zone Law (N. 69/75), the Free Zones ( Administration and Control) Regulations of 1981 (P.I . 276/81) and by the Free Zones Customs Regulations as they were modified to comply with the EU Regulations. There is one Free Zone in Cyprus that is situated in Larnaca area near the airport and been in operation since 1980.

The objectives of the establishment of the Free Zone are the following:

a) the attraction of foreign investments

b) the creation of employment opportunities

c) the increase of exports and the inflow of foreign currency

d) the utilisation of the geographical position of Cyprus, as well as the advanced infrastructure

Any person can apply to the Ministry of Commerce, Industry and Tourism for obtaining a licence for establishing an industrial unit within the Larnaca Free Zone for operating trade work or manufacturing. The licence is granted by the Minister of Commerce, Industry and Tourism after consultation with the Minister of Finance.

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