Nicosia: Cyprus is establishing itself as an innovation hub, ranking 15th worldwide and 1st in Southern Europe according to the Innovators Business Environment Index (IBEI) 2026 by StartupBlink.
According to Cyprus News Agency, key achievements contributing to this ranking include Cyprus's taxation system, which is ranked 1st in the EU and 10th globally. The country also excels in business incentives, securing the 2nd position in the EU, reflecting highly attractive fiscal and financial conditions. Furthermore, Cyprus is within the top 25% worldwide for key indicators such as corporate tax, capital gains, and dividend tax rates.
This high ranking demonstrates that Cyprus has strong foundations for further growth. The country offers one of the most competitive environments for innovation, as highlighted in the report. The Research and Innovation Foundation's initiatives play a vital role in facilitating scientific and commercial endeavors.
The IBEI Index evaluates over 125 countries across 30 parameters, focusing on operational ease, incentives, and global market perception.