Cyprus became an independent Republic in 1960
The Cyprus government structure is modeled on western democracies in which the individual’s rights are respected and private initiative is given every opportunity and encouragement to develop.
The Head of State is the President who is elected by the people for a five-year term of office. The President with the Council of Ministers (which is appointed by the President) is the main executive organ of the Republic.
The House of Representatives is the legislative organ of the Republic and is elected also for a 5-year term. A multi-party system operates in Cyprus and the electoral system is based on proportional representation.
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The Tax benefits offered by the Cyprus tax system > provide a great advantage for companies and individuals around the world.