“The Larnaca Free Zone has been established in an effort to encourage
external trade and international commerce”
Free zones are established in an effort to encourage external trade and
international commerce through the provision of various incentives such as the
abolishment of custom duties and taxes in respect of goods imported into the
zones. The Council of Ministers has established the Larnaca Free Zone in Cyprus
under the auspices of the Ministry of Commerce, Industry & Tourism.
Location
The Larnaca Free Zone is
situated 6 km from Larnaca Airport, 9 km from the Larnaca port, and 48 km from
Nicosia. The zone has been landscaped and trees planted to create a modern and
pleasant environment for industry and the workforce employed
therein.
Zone Area
Within the
Free Zone there are 94 Industrial sites of total area 31,2 hectares. Of these,
25 have already been leased representing 25,3% of the total area available for
leasing. Various already developed industrial plots are available for rental or
acquisition in agreement with the existing leaseholders.
The Free Zone is on the main Larnaca – Limassol highway and is protected on
all sides by a security perimeter fence. There is a Customs clearance office at
the entrance. A network of service roads leads to the various industrial plots,
which have access to water, electricity and telephone networks.
The following incentives are offered to applicants establishing an industrial
project in the zone:
- Nominal rental of land for the development of industrial plots is set at a
fee of CYŁ1 per year, over the first five years.
- Following the first five years, nominal rental of land is set at CYŁ525 per
1000 sqr. meters per annum.
- Free of charge installation of electrical power (maximum demand).
- Free of charge installation of any number of telephone lines.
Electricity
The electricity
Authority of Cyprus supplies all industrial, commercial, agricultural and
residential premises with electricity. The supply voltage is either 240V a.c.
50Hz single-phase or 415V a.c. 50Hz three-phase. Large industrial or commercial
consumers may be supplied, if necessary, at 11.000V a.c. 50 Hz.
Telecommunications
The Cyprus
Telecommunications Authority offers a variety of basic and advanced
telecommunications services, covering a wide range of business needs for both
voice and data communications, fixed and mobile. Internet-based services are
also offered. The above services make the Larnaca Free Zone an attractive
location for enterprises, which require fast and dependable
telecommunications.
“Entrepreneurs have the opportunity of exploiting the unique position
of Cyprus as an international business centre”
Transport and Freight
Larnaca free
zone has quick access to the port where break bulk cargoes, bulk cargoes, and
container are handled. Various shipping lines serve the island regularly; thus,
providing Cyprus with regular and frequent links to all parts of the world.
Namely, most Mediterranean ports, UK, France, Germany, Netherlands, USA, India
and the Far East are only a few of the regular links.
How to apply:
Interested parties
should contact the Ministry of Commerce, Industry and Tourism in order to obtain
an application form. Upon, submission, the application will be assessed by the
Ministry and in case of approval – a leasing agreement with a duration of 99
years will be signed between the two parties.
