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The Larnaca Free Zone (LFZ) in Cyprus, has been established under the auspices of the Ministry of Commerce, Industry and Tourism, with the specific purpose of facilitating export-oriented investments by offering an even more convenient business climate. The LFZ was designed to complement and contribute to the encouragement of 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 Zone. The LFZ is therefore the ideal choice for companies intending to use Cyprus as a regional manufacturing and/or distribution base. It should be noted that apart from the Larnaca Free Zone, two Free Port Areas, one in Limassol and another in Larnaca, have also been established to give businesses an additional incentive to be located in Cyprus.
Location
The LFZ is situated 6 km from the 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, 42 have already been leased representing 45% of the total area available for leasing. Various developed industrial plots are available for rental or acquisition in agreement with the existing leaseholders. The 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 Euro 1.71 per year, over the first five years
- • Following the first five years, nominal rental of land is set at Euro 897 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
Transport & Freight: Larnaca Free Zone has quick access to the port where break bulk cargoes, bulk cargoes, and containers 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, the UK, France, Germany, Netherlands, the USA, India and the Far East are just some of the regular links.
Electricity: The Electricity Authority of Cyprus (EAC) 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. 50Hz.
Telecommunications: The Cyprus Telecommunications Authority (CYTA) 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 LFZ an attractive location for enterprises, which require fast and dependable telecommunications.
How to apply
Interested parties should contact through their Lawyers 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.
For further info: www.mcit.gov.cy
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