ID&T - specialists in importing from and

exporting to Cyprus

Cyprus import/export help and advice

Cyprus's business profile

Population 1.08 million (2009) labour force of 0.40 million.

Main export commodities: Citrus, potatoes, pharmaceuticals, cement and clothing. 10.8% of exports as destine to the United Kingdom.

Main import commodities: Consumer goods, petroleum, lubricants, immediate goods, machinery and transport equipment. 8.70% of Cyprus’s imports originate from the UK.

Economy: Cyprus is heavily involved in the service sector, particularly strong on tourism, real estate and financial services. Since 2008 Cyprus has adopted the Euro.

There are many business opportunities in Cyprus. English is widely spoken

Cyprus' main port: Limassol

Cyprus' main airports: Nicosia, Paphos

There are many government bodies that will help you to trade with Cyprus:

If you are exporting we suggest that you sell on an FOB (Free on Board) basis also if importing buy on a FOB basis. On export this helps turn around funds quicker as your responsibility ends once cargo is loaded onto ship or aeroplane, you have completed your contract and you are not responsible for any delays.

On imports buying FOB is again the preferred term of shipment. In this way you have control on your shipping costs fully as these will be agreed in the UK with a UK company. You also have control over the lead time of your goods. Cargo will arrive when you want it to arrive and not just when it suits your supplier to send out. You have authorise payment through your bank one cargo is despatched to ensure that you have required paperwork to receive, custom clear and take delivery of cargo.

Importing from Cyprus

  1. Establish a relationship with new supplier.
  2. Confirm terms of trade. Most popular are FOB or CIF.
  3. Agree payment terms ie deposit balance on receipt of goods/documents
  4. Approve samples.
  5. Place an order with new supplier in writing. Confirming the exact order, trade terms and advise all documents you need.
  6. Appoint your freight forwarder / custom broker.

Exporting to Cyprus

  1. Establish a relationship with new buyer.
  2. Confirm terms of trade. Most popular are FOB or CIF.
  3. Agree payment terms for deposit; balance on receipt of goods/documents.
  4. Have samples approved.
  5. Receive an order with new buyer in writing. Confirming the exact order, trade terms and agree all documents you will provide.
  6. Appoint your freight forwarder.