Cyprus Ranks 15th Globally and 1st in Southern Europe for Innovation Business Environment

Cyprus is solidifying its position as a leading international destination for innovation, ranking 15th globally and 1st in Southern Europe in the StartupBlink's Innovators Business Environment Index (IBEI) 2026. The country particularly excels in taxation, holding the 1st position in the EU and 10th worldwide, as well as in business incentives, where it ranks 2nd in the EU. Furthermore, Cyprus's tax indicators are in the top 25% globally, covering corporate tax, capital gains tax, and dividends. The report highlights the competitiveness of the Cypriot business environment and emphasizes the role of the IDEK programs in strengthening scientific and entrepreneurial activity. The high ranking is an indication of the strong foundations Cyprus has laid for the further development of innovation. The IBEI assessment is based on 30 parameters that examine the ease of doing business and the incentives offered by each country. Cyprus's high position confirms its commitment to creating an innovation-friendly environment. In summary, Cyprus has successfully created an attractive ecosystem for startups and innovative companies, offering competitive tax advantages and supportive programs. Continued improvement of the business environment is expected to further enhance the development of innovation in Cyprus.