Cyprus is a country in the Eastern Mediterranean Republic, and it is the third-largest island in the Mediterranean in terms of population. The Republic of Cyprus is divided into two major ethnic groups: Greeks and Turks, with Greeks constituting the majority of the population. Its official languages are Greek and Turkish. The Eastern Orthodox Christian religion predominates in the country.

Education is highly valued in the country, and several institutions of higher learning have been established, including three public and six private universities. Cyprus provides an internationalized education that is both affordable and globally recognized. Students from all over the world are choosing to study in this country because of the combination of high-quality education, low-cost tuition, and English-taught courses.

The country has three educational cycles: undergraduate (4 years), master’s (1-2 years), and doctorate (3-8 years). The following are some of the top business institutions in Cyprus known for their business education.

Top Business Schools in Cyprus

1. Cyprus International Institute of Management

  • Study Program
  • Degree/s Offered: Bachelor’s, Master’s, Ph.D.

The Cyprus International Institute of Management (CIIM) is a reputable business school in Cyprus that has been accredited and recognized by several organizations concerned with the standard and quality of business education. It is also one of the institutions that have integrated the study of blockchain technologies, which has led to the establishment of the Cyprus Blockchain Technologies Centre (CBTC) in collaboration with the country’s major financial sectors.

It has a well-known faculty, including a Nobel Prize Contributor and faculty members who have won international competitions. It has also entered into partnerships with institutions in India, Japan, Lebanon, Greece, Canada, and Brazil. It is the first to adopt a modular mode of learning that allows its students flexibility in their studies.

Tuition for the undergraduate program is $7,890 per year, with a registration fee of $580 for the first year and US$115 for subsequent years. MBA fees are US$18,680 per year, while Master’s fees are US$11,100 per year. The school’s website contains additional information on other fees, subsidies, scholarships, and payment plans.

2. Cyprus Business School

  • Study Program
  • Degree/s Offered: Bachelor’s, Master’s, Ph.D.

Cyprus Business School (CBS) is the country’s first business school and the first to offer a flexible course (offered as evening classes) for students already working in the field who want to advance and broaden their knowledge.

This top business school in Cyprus has also formed a collaborative partnership with the University of West London, giving its students access to British education and shorter attendance in programs such as a three-year undergraduate program and a one-year Master’s program that is less expensive than traveling to London to study.

Tuition fees for both domestic and international students are the same in most programs, with only minor differences for international students in other programs. Tuition for undergraduate programs averages US$7,000 per year (US$8,120 under UWL), MBA tuition averages US$9,000 per year, and Master’s tuition averages US$7,500. UWL offers a DBA through distance learning for $15,000 per year. Other fees and adjustments, as well as possible subsidies and scholarships, can be found on the school’s website.

3. Open University of Cyprus

  • Study Program
  • Degree/s Offered: Bachelor’s, Master’s, Ph.D.

The Open University of Cyprus (OUC) is one the country’s only public university that focuses on distance education and offers all levels of study in distance learning – undergraduate, master’s, and doctoral. The mission of OUC is to bridge the gap in higher education by making it available to all. For academic quality and research, the university is linked to several local, European, and international organizations. It also collaborates with various universities around the world on research projects and the exchange of knowledge and expertise with other experts in the field.

Tuition for undergraduate programs is US$9,750 for the entire program, calculated per module, with the undergraduate required to complete 24 modules before graduation, priced at US$405 each. The MBA program requires four modules, each of which costs US$1,252, for a total program cost of US$6,260. The Doctorate program costs US$783 per semester for the first six semesters and US$392 per semester after that.

4. European University Cyprus

  • Study Program
  • Degree/s Offered: Bachelor’s, Master’s, Ph.D.

The European University Cyprus (EUC) has one of the top business programs in Cyprus, being well-known for its contributions to the business world through research and innovative developments. It is also known for producing the greatest number of start-up companies, having established a Microsoft-powered start-up center on its campus. It has also established a distance learning undergraduate and master’s program to meet the demand for flexible and accessible learning for all.

Tuition for the undergraduate program is US$10,200, $9,830 for the entire Master’s program, and US$16,650 for the doctoral program. Tuition for undergraduate programs via distance learning is US$10,600 per year, and tuition for the entire Master’s program is US$9,830. The university’s website lists any additional fees.

5. University of Nicosia

  • Study Program
  • Degree/s Offered: Bachelor’s, Master’s, Ph.D.

The University of Nicosia’s School of Business is another excellent business school in Cyprus. Well-known for its diverse programs, the university offers innovative programs designed for the developing and advancing business industry. It has connections with the country’s business industries and institutions, which helps it maintain its educational quality by mentoring, consulting, and training its students. Alumni satisfaction is also ensured, as the majority of students enroll based on recommendations and suggestions from their graduates.

Distance learning is also available for undergraduate and graduate courses at the school. In terms of tuition and fees, international students pay slightly more than local students and students from EU countries. Tuition for the undergraduate program is US$10,300 per year, tuition for Master’s studies is US$15,000 for the entire program in blockchain and digital currency, and tuition for MBA is US$11,160. The total cost of a doctorate program is US$19,150. Joint degrees are available for graduate programs through collaboration with the Universities of Padova, Zagreb, and Western Sydney.

For distance learning, the undergraduate program costs US$7,300 per year, while the master’s program costs between US$5,200 and US$15,000 for the entire program. Graduate degrees are available through joint programs with the Hellenic Open University and the University of Patras.


We hope that this article on the best business schools in Cyprus was helpful. Make sure to also check out the Available Business Programs for International Students!

About the Author: Hyun Lee

Hi! I am Hyun, and I am the founder at Global Scholarships. I've received a full-tuition scholarship at Birmingham-Southern College and a $1,000 Burger King Scholarship for my undergraduate degree and was offered a fully funded scholarship consisting of tuition, living stipend, and health insurance for computer science Ph.D. program at North Carolina State University. You can read more about my scholarship journey here. If you are interested, you can follow me on Linkedin where I regularly write about scholarship opportunities.

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