Situated in the north-eastern part of the Mediterranean Sea and to the south of Turkey, Cyprus is the largest island in the eastern Mediterranean as well as being the third smallest country in the EU, after Malta and Luxembourg. Cyprus joined the EU as a de facto divided island but the whole of Cyprus is EU territory. Turkish Cypriots are EU citizens as they are citizens of an EU country – the Republic of Cyprus – even if they live in a part of Cyprus not under government control. The most important sectors of Cyprus’s economy in 2012 were wholesale and retail trade, transport, accommodation and food services (23.5 %) public administration, defence, education, human health and social work activities (21.8 %) and real estate (11.5 %).
Cyprus’s main export partners are Greece, the UK and the US, while its main import partners are Greece, Israel and the UK.It can be seen from the data below that Satsafe® represents a very significant Internet of Things (IoT) business opportunity in Cyprus focussed on security and safety applications.
Geographical size: 9251.0 km²
Population: 862 011 (2012)
Population as % of total EU population: 0.2 % (2012)
GDP: € 17.72 billion (2012)
Official EU language(s): Greek
Political system: presidential republic
EU member country since: 1 May 2004
Seats in the European Parliament: 6
Currency: Eurozone member since 1 January 2008
A world of opportunity:
We are currently seeking expressions of interest from International distributors for a range of Satsafe® branded safety and security applications including geobloc.
If you are interested in acquiring the Satsafe® Master License as a business opportunity in Cyprus, please contact us outlining your experience.