Cyprus was a British Colony till 1960 when ultimately it achieved the Independence after prolonged struggle. But, the internal rift between Greek Cypriot majority and Turkish Cypriot minority continued unabated. Violence broke out in 1963 between the two communities. In spite of deployment of United Nation Peace keeping force in 1964, the violence continued.
In 1974, the Greek Government sponsored attempt to seize complete control of Cyprus was met by Turkish military intervention, which ultimately led to a situation when one third of the island was under Turkish control. In 1983, the Turkish held area declared itself as Turkish Republic of Northern Cyprus. But, any other country excepting Turkey does not recognize it.
The United Nation tried for unification of the divided Cyprus, but the Greek Cypriot rejected the settlement plan in 2004, while Turkish Cypriot accepted it. However, the country joined the EU on 1st.May, 2004 although the rights and obligations applies only to areas under direct Government control and not applicable to areas ruled by Turkish Cypriot. However, an individual Turkish Cypriot who is able to prove their citizenship of Republic of Cyprus can avail legally the same rights enjoyed by other citizens of European Union states.
Consequent to joining the European Union, the economy of Cyprus has improved significantly. Citizens of the Republic are enjoying a high standard of living. But, the same is not true so far as Turkish Cypriot is concerned which is severely affected by international embargo and it still depending on Turkey to bail them out on economic front. However, in recent times the situation is changing for the better with a substantial increase in revenue earnings through Tourism and Construction boom. Although, the Turkish Cypriot Governments initiative to legalize sale of properties still owned by Greek Cypriots by foreign private buyers.