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The Market for Businesses for Sale


The local market for business sales is still undeveloped. Considering that there are over 60,000 Micro to Small Enterprises in Cyprus, the number of business sales should range around 6,000 annually. There are no official statistics, but indications are that the number is below 1,000.

The main reasons are cultural; Cypriots usually hold on to their businesses until they are forced to sell for one of three reasons:

  1. Retirement, coupled with lack of succession
  2. Illness
  3. Financial problems

In addition to that, most Cypriots prefer to establish their own business from scratch, instead of buying someone else's business.

The Cyprus expatriate market, on the other hand, is much more active due to increased mobility and familiarity with business sales.

This market consists mainly of:

  • EU nationals (mainly British) who are either moving to Cyprus and looking for a suitable business to buy, of going back to their home country and need to sell their business
  • Cypriots who wish to repatriate, mainly from the UK, South Africa, Australia or USA; or who have repatriated recently and for some reason wish to emigrate again
  • Other nationalities (mainly Russians) who wish to own a business in Cyprus in addition to a home

However, although very active, the expatriate market constitutes less than 3 percent of the total Cyprus market, (that is, just under 2,000 businesses). This figure excludes the thousands of offshore companies which use Cyprus as their base, but have no operations within Cyprus.