The transformation of the sector inevitably requires appropriate funding, and ship financing has become critical for the shipbuilding sector and shipping companies worldwide. The financing aspect of shipping includes the corporate financial management of shipping companies to refinance existing debts and the financing of new shipbuilding.

Cyprus has seen rapid growth in the number of startups. This increase is due to tax incentives and favourable conditions for intellectual property and innovative companies offered by Cyprus, making it a pleasant country for the development of startups.

In a new action plan adopted in October 2021, the Cypriot government announced a course to attract foreign investment, businesses and expats. In addition, the authorities' representatives announced several innovations, which concerned mainly immigration law.

The Cyprus Assessment and Collection Law, as amended in 2002, introduced a regime with a provisional income tax system. Corporate tax in Cyprus is levied at a rate of 12.5% and can be paid through the JCC Smart platform. Based on the current period's results, companies that do not expect taxable profits do not submit a tax calculation.