Cyprus has already gained from being in the EU through money invested for many new developments. Unlike the UK where as someone put it the rich get richer, the 'rich' that have to pay stupid tax and put up with ridiculous employment laws are paying for the privilege of giving it away to the poorer countries such as Cyprus - so don't knock it.
Cyprus with it's dodgy laws, road safety issues etc needs the regulations that being in the EU should bring. It is a shame all countries begin to lose their identity but there is good with the bad.
Small businesses struggle and house prices get higher but this would happen without the EU and did before the EU.
Cyprus does not have the same restrictions with emploment laws and tax that the UK has. Believe me you do not want to be an employer in the UK now, you also do not want to have the 'politically correct' attitude that is destroying the culture so effectively but this is the fault of the UK government, not the EU.
The fact that Cyprus will have to honour the minimum wage to comply with the EU is a good thing. If the immigration brings about more competition for the good jobs is that bad?