Cyprus Targets Indian Businesses Expanding in Europe with New Mumbai Trade Hub

Cyprus Emerges as Gateway for Indian Businesses Expanding into Europe

Cyprus President Nikos Christodoulides announced plans to establish a trade office in India's financial capital, Mumbai, to facilitate cross-border partnerships and deepen bilateral business ties. The 'Mumbai trade center' is expected to become operational from September 1, 2026.

Addressing the Cyprus-India Business Forum, President Christodoulides emphasized Cyprus's potential as a launchpad for Indian businesses seeking to access the European Union and wider Eastern Mediterranean, Gulf, and North African markets. He highlighted the country's stable European base, which offers a transparent and fully European Union-compliant business environment.

Cyprus sees strong potential for cooperation with India across sectors such as digital technologies and artificial intelligence, financial services and fintech, renewable energy, logistics and freight infrastructure, tourism, and maritime services. The country's membership in the European Union and the Eurozone provides access to the EU single market of over 450 million consumers, a common law-based legal framework, and an English-speaking business environment.

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Cyprus's 15 percent corporate income tax rate is among the lowest in the European Union, and the country has an extensive double taxation treaty network covering more than 65 countries, including India. Indian companies are increasingly using Cyprus as an entry point to Europe, particularly in technology, financial services, and digital innovation.

The President noted that Cyprus offers regulatory support and fast-track procedures for relocation of company staff and executives. He also emphasized the country's efforts to strengthen connectivity between Cyprus and India, including the establishment of direct air links.

Maharashtra Chief Minister Devendra Fadnavis welcomed Cypriot businesses to partner in the state's growth story, highlighting Maharashtra's potential as a strategic entry point for firms looking to expand into India. He emphasized the state's rapidly expanding ports, logistics, and shipping ecosystem, as well as its potential for maritime and shipping cooperation with Cyprus.

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Fadnavis noted that investment commitments by Cyprus-based shipping companies in India reflect growing confidence in India's growth prospects and pointed to significant untapped potential in the sector. He also pitched Maharashtra's renewable energy transition as an area for partnership, citing the state's power generation capacity of 93 GW, of which 52 percent is expected to come from renewable sources.