Larnaca Free Zone
“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 CY£1 per year, over the first five years.
- Following the first five years, nominal rental of land is set at CY£525 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.