Cyprus pitches its case for investment to Middle Eastern corporations
The national investment promotion agency, Invest Cyprus, announced on Wednesday that it recently hosted two successful events in Amman and Beirut aimed at attracting tech companies to Cyprus, as well as another event in Cairo aimed at attracting family offices, wealth management firms, and investors.
Each event drew over 50 high-profile delegates, including entrepreneurs, investors, venture capitalists, and executives from the technology and financial industries.
Invest Cyprus promoted the investment opportunities available in Cyprus, emphasising its strategic location, attractive tax structure, and business-friendly climate.
Participants were given an in-depth overview of the benefits of relocating and doing business in Cyprus, such as access to a highly skilled workforce, low operating expenses, and access to the EU market.
Furthermore, special focus was placed on the country's rapidly rising tech industry as well as the government's commitment to supporting and nurturing innovative businesses.
Shadi Karam, a long-term institutional investor in Cyprus, shared his knowledge with the attendees.
“When I am asked what attracts me to Cyprus, it takes me a while to sift through the many fascinating allures of the island, but I invariably answer: It’s the people,” Karam said.
“Why the people? Because they embody the unique mix of Western rigour and the charm of the laid-back nonchalance of the neighbouring Orient; a mix that permeates every facet of Cypriot life and makes for a friendly and efficient business environment as well as a cocoon of quality living,” he added.
Representatives from family offices, private equity funds, banks, major local legal firms, and wealth management firms attended the event in Cairo, where they learned about Cyprus's advantages as a destination for family offices to set up operations and explore investment opportunities.
Invest Cyprus highlighted the country's tax-efficient environment, advanced legal structure, and professional services industry at the event.
Invest Cyprus acting CEO Marios Tannousis expressed satisfaction with the events' success and the degree of interest they generated.
“Cyprus offers an unparalleled combination of advantages for tech companies and wealth management firms,” Tannousis said.
“All three countries have long been key markets for Cyprus and we aim to further enhance the business and investment relationships with all of them,” he added.
Tannousis further stated that the agency is committed to assisting investors in capitalising on these opportunities.
“We look forward to welcoming more companies to Cyprus and continuing to build our partnerships in a region with thriving prospects for further collaboration,” Tannousis concluded.
By fLEXI tEAM