Why big tech firms chose Cyprus to relocate

Experts from both the public and private sectors took the stage at the “Cyprus: The New Global Tech & Innovation Hub Summit” and discussed Cyprus’ push to become a tech hub. Executives from some of the biggest international tech companies that have chosen Cyprus as their base of operations took the stage and explained why Cyprus is the fastest growing Tech Hub for ICT companies. The discussion was by Yanna Raevskaya, Head of Legal Department at financial services firm Prospectacy.

On her part, Ugne Buraciene, Group CEO at payment institution Payabl, who has been in Cyprus for more than a decade working in the fintech industry, discussed how the German founders behind the company chose Cyprus back in 2011 due to the favourable taxation, the business-friendly environment and the highly skilled English-speaking environment, among other reasons. Once the decision was made, she said, the company received the licence from the Central Bank in record time, something that today would not be feasible. Buraciene arrived at the company in 2020 tasked to facilitate its journey into a new era and managed in a short time to grow the firm into one of the leaders in the industry. Today, she went on, the company has 50% of its team based in Cyprus, predominantly hiring local talent. She mentioned that since she had arrived in the country there were several improvements made on a public policy front, but there is still more that needs to be done to enable tech companies to grow their business. “All in all, I’d say that Cyprus is a good place to start a business,” she noted.

Next, Hiko Rajczyk, Founder of digital consultancy Yomora Media, mentioned that while the company was doing well in its home country of Israel, growing both its human capital and revenues, he had noticed that several of his clients and advertisers had begun to leave the country, some of which found a new home in Cyprus. With his interest piqued, he researched various potential destinations. “Cyprus had the most pros for me; the weather, the mentality, the safety. And the cons, they were very few,” he said, adding jocosely that it took some time to adapt to the slower pace in Cyprus. “It was worth it. We are very, very happy in Cyprus,” he noted.

Finally, Patrik Wilkens, Vice President of Global Operations at digital media publisher TheSoul Publishing, who came to Cyprus two years ago with his family, mentioned that the company is a proud member of the Cyprus tech community, with 440 employees in the country, recently relocating 305 international experts and 175 dependants, which reflected the ease with which tech companies can move people to the country. “There’s a lot of support we are getting from the government,” he noted and added that they are looking forward to supporting Cyprus in becoming one of the best places to live and work and bringing the Cyprus “Vision 2035” plan into being.

Join Us

We invite tech companies and innovators globally to join us at the 2nd Cyprus: The New Global Tech and Innovation Hub Summit that will take place on April 25-26 at the luxurious Parklane Resort and Spa in Limassol, Cyprus.

The event presents a special chance to explore why Cyprus is quickly becoming the top choice relocation destination for ICT companies globally. With its strategic positioning, thriving business atmosphere, and supportive infrastructure, Cyprus provides unmatched opportunities for companies at all stages of growth.

International participation

Attendance at the Cyprus Tech & Innovation Hub Summit is by invitation. Click here to submit your registration and interest to attend this prestigious event. All registration applications are subject to approval by the Organiser and will be reviewed on a “first-come, first-served” basis. Attendance at the event will depend on availability of spaces and fulfillment of the target audience profile criteria.

For any queries and/or further information you might need, contact us via email at sophie@imhbusiness.com .

Local participation

This is a closed event where companies/ executives with offices in Cyprus can attend only as Sponsors/ Supporters.

For more information on sponsorship opportunities, contact:

Christopher Constantinou at 22505565 or via email at christopher.constantinou@imhbusiness.com.

INFORMATION

Organiser: IMH

Knowledge Partner: Invest Cyprus

Strategic Telecom Partner: Cyta Business

Innovation Partner: Research & Innovation Foundation

Ecosystem Partner: TechIsland

Gold Sponsors: Bank of Cyprus, KPMG Cyprus

Silver Sponsors: Energame, Pafilia

Supporters: IMR, Island Private School

Official Media Sponsors: Cyprus Business News, Gold magazine, IFC Media, IN Business magazine

Contact number: 22 505 555

Email address: events@imhbusiness.com

Website: www.imhbusiness.com