Cyprus is a Presidential Democratic state. The Executive authority is vested in the President who is elected for a five year term by universal vote, and exercised by a Council of Ministers appointed by the President. The Legislative authority of the Republic is exercised by the House of Representatives. House Members are elected by universal vote every five years. The administration of Justice is exercised by the Judiciary, which is a separate and independent body. The current President of the Republic, H.E. Mr. Nicos Anastasiades, was elected in February 2013 for a five-year term. The Government of Cyprus welcomes Foreign Direct Investment supporting the economic development priorities of the country.