Cyprus is situated in the eastern Mediterranean and lies at the meeting point of Europe, Asia and Africa. It is the third largest island in the Mediterranean with an area of 9,251 sq. km. The population of Cyprus is about 750,000 of which Greek Cypriots form by far the largest ethnic group.
The main religion is Greek Orthodox followed by Islam. The official language is Greek, but English is widely spoken and also used in business and government. Cyprus has an excellent telecommunication system that is among the best developed in the world with direct connections to more than 150 countries.
Commercial banking in Cyprus is of a very high level and follows the British model. Commercial banks have very strong correspondent networks around the world. Cyprus qualifies as a viable financial centre due to the tax advantages mentioned above, legal system, political and economic stability and confidentiality afforded by appointing nominee shareholders and directors.
