Gulf Business - CYPRUS

TABLE OF CONTENTS

Invest in Cyprus

2

TOR Properties

4...........................WELCOME MESSAGE - INVEST CYPRUS 5...........................BUSINESS HEADQUARTERING 6 -7 ................INTERNATIONAL CONNECTIONS

Parklane Resorts

8 - 9 ...............CYPRUS, GETAWAY TO EU 1 0 -1 1 .......FINANCE & FINANCIAL SERVICES 1 2 -1 3 ......LIMASSOL: PROPERTY INVESTMENT HUB

AUB

1 4 -1 5 ......EDUCATION 16.......................FROM TRADITION TO HIGH-TECH ECONOMY 1 7-1 9 .......TOURISM HEAVEN

Talean

Santis - Wealth Management & Consulting

Deloitte

Conglomerate Group

April 2025

Invest in Cyprus

Invest in Cyprus Your Strategic Gateway to Europe and Beyond

A Strategic Mediterranean Hub Set in the heart of the eastern Mediterranean, Cyprus offers more than just sun-soaked beaches and ancient ruins—it stands as a modern, dynamic gateway between East and West. With a rich cultural heritage, robust economy, and strategic geopolitical location, Cyprus has transformed into a prime destination for global investors, ambitious entrepreneurs, and families seeking a superior quality of life.

European Standards, Regional Reach As a member of the European Union, Cyprus enjoys the credibility and advantages of operating within the EU legal and regulatory framework, while simultaneously maintaining strong ties with the Middle East, Asia, and Africa. This dual alignment positions the island as a powerful conduit for international business, trade, and investment.

Business Relocation & Headquartering Destination Leaders from Cyprus’s top business sectors proudly highlight the nation’s proactive approach in welcoming international companies and families, especially from the Gulf Cooperation Council (GCC) and broader Middle East. The synergy between the government and private sector ensures a smooth transition for businesses relocating or establishing headquarters, with services and infrastructure tailored to support success.

A Trusted Financial Centre The financial services sector is one of Cyprus’s strongest pillars. With its reputation as a reliable international financial center, Cyprus offers a sophisticated, transparent, and competitive environment. The country’s strategic location allows for seamless access to markets in Europe, the Middle East, and Asia, attracting multinational corporations and global investors.

Konnos Beach, Ayia Napa, Cyprus

Family-Friendly Living and International Education Cyprus’s appeal extends far beyond business. It has become a lifestyle destination for families seeking safety, clean air, and a balanced pace of life. Free from heavy industry, the island’s pristine environment and sunny Mediterranean climate make it ideal for raising children or enjoying a peaceful, active retirement. A rapidly growing international education sector, backed by government initiatives and global partnerships, further supports its reputation as a hub for quality learning and academic research.

A Premier Tourist Destination Tourism also plays a central role in the Cypriot economy. With direct flights from major regional capitals like Dubai, Abu Dhabi, Beirut, and Riyadh, Cyprus is easily accessible and increasingly favored as a premium holiday destination. Recent investments in luxury resorts, marinas, and cultural attractions continue to elevate its global appeal.

An Emerging Tech & Innovation Ecosystem Finally, Cyprus is embracing the future through tech and innovation. The island is quickly becoming a magnet for technology companies and startups, thanks to an investor-friendly climate, competitive tax regime, and streamlined residency programs. Formerly known as a maritime giant, Cyprus is now gaining global recognition as a burgeoning tech and innovation hub.

A Place to Live, Work, and Grow In essence, Cyprus is not just a place to visit—it’s a place to thrive. Whether you’re looking to invest, relocate, innovate, or simply enjoy life, Cyprus offers a compelling mix of opportunity, access, and quality living, making it a true gem in the Mediterranean.

A Booming Real Estate Market Real estate in Cyprus has equally flourished. From high-end seafront villas to chic urban apartments, the island’s property market presents lucrative investment opportunities. A remarkable 65% surge in sales, amounting to over €6 billion in recent years, testifies to growing global confidence in the Cypriot real estate sector. Investors are drawn not only by the potential returns, but also by the unparalleled lifestyle the island affords.

Special Edition by ORBCOM Ltd. | Project & Editorial Director: Claire Vuylsteke | Design: jsqrd.eu April 2025

3

Invest in Cyprus investment opportunities, reinforcing Cyprus’s role as a key partner in the Eastern Mediterranean and a vital gateway to European markets.

Invest Cyprus

Cyprus is rapidly Emerging as a Hub for Financial services, Tech innovation, and European Expansion

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yprus is rapidly emerging as a premier destination for international businesses and investors, combining a strategic geographical position with a businessfriendly environment and seamless access to European markets. Whether your goal is to expand into Europe or tap into cutting-edge innovation opportunities, Cyprus presents a diverse range of advantages tailored to your needs and business aspirations!

A STRATEGIC BUSINESS HUB As an EU and Eurozone member, Cyprus offers seamless access to European markets, making it an ideal base for international business. Its strategic location at the crossroads of Europe, Asia, and Africa strengthens its role as a key distribution hub.

Cyprus is also a leading financial services hub, with a competitive environment for banking, asset management, private equity, and fintech. The EU membership ensures access to strong regulatory frameworks and European markets, while low corporate taxes and incentives attract global financial institutions.

The country has become a dynamic tech hub, with €4 billion invested in ICT in 2023, hosting over 800 tech companies. Cyprus also offers world-class infrastructure, an educated workforce, high quality of life, and a safe environment for both business and personal growth.

KEY INVESTMENT OPPORTUNITIES FOR GCC INVESTOR Cyprus has significantly strengthened its relationships with the Gulf region, establishing strategic agreements and investment partnerships with Saudi Arabia, Jordan, and other prominent GCC nations. These enhanced ties open a wealth of new 4

April 2025

Marios Tannousis, CEO of Invest Cyprus

Invest Cyprus, the National Investment Promotion Organization, plays a pivotal role in attracting international investment. The organization focuses on four high-potential sectors, each offering abundant opportunities for GCC investors: • International Business and Finance: Asset Management, Private Equity, Investment Funds, Fintech, Banking & Wealth Management • Technology, Innovation, and Education: Startups, ICT (Information & Communications Technology), Fintech & Blockchain, Artificial Intelligence (AI), Cybersecurity, Research & Development (R&D), Higher Education • Sustainable Development: Green Energy & Renewable Resources, Environmental Consulting • Invest Cyprus also connects investors and businesses to ongoing opportunities, helping them navigate new markets and expand their operations within Cyprus and beyond.

CYPRUS OFFERS COMPREHENSIVE SUPPORT FOR INVESTORS Invest Cyprus acts as a comprehensive one-stop shop for international investors, guiding them through every stage of the investment process. From the initial inquiry to the establishment of their business in Cyprus, the organization ensures a seamless experience, offering tailored support at each step.

Beyond business establishment, the Invest Cyprus provides ongoing aftercare, addressing investor concerns and supporting their continued success.

Additionally, Invest Cyprus advocates for key reforms that enhance the business environment, ensuring that Cyprus remains a competitive and attractive location for investment.

YOUR GATEWAY TO SUCCESS AND GROWTH Cyprus offers a unique combination of strategic location, competitive tax benefits, and a thriving innovation ecosystem. For GCC investors, it’s not just a gateway to Europe—it’s an ideal platform for expanding operations and accessing lucrative markets.

With a stable economy, strong international ties, and a commitment to fostering business growth, Cyprus is the perfect place to drive your business forward.

Take the first step in your investment journey today by visiting Invest Cyprus at www.investcyprus.org.cy and discover how we can help unlock new opportunities for innovation and the growth of your business!

Headquarter in Limassol.

Headquarter in Limassol.

Headquarter in Limassol.

Your Business Destination.

Your Your Business Business Destination.

Destination.

Tor Properties leverages Limassol’s thriving economy and real estate market Tor Properties leverages Limassol’s thriving economy and real estate market Properties leverages Limassol’s thriving economy and real market to Tor create sustainable landmark projects in prime locations withestate easy access to create sustainable landmark projects in economy prime locations with easymarket access Properties Limassol’s and real estate to create sustainable landmark in prime with easy access to Tor highways, the leverages city center, and projects thethriving seafront.

Bylocations combining innovative highways, the city landmark center, and the seafront.

Bylocations combining innovative to create sustainable projects in prime with easy access to highways, designs the city center, andlatest the seafront.

By combining innovative architectural with the technologies, our high-quality architectural designs with and the the latest technologies, our high-quality to highways, the city center, seafront.

By combining innovative architectural designs with the latest technologies, our high-quality buildings promote the well-being ofofoccupants and the community while buildings promote the well-being occupants and the community while architectural designs with the latest technologies, our high-quality buildings promote the well-being ofgovernance occupants and the community while adhering to to environmental, social, (ESG) standards. adhering environmental, social,and and governanceand (ESG) buildings promote the well-being of occupants thestandards. community while adhering to environmental, social, and governance (ESG) standards. adhering to environmental, social, and governance (ESG) standards.

Triangle: Seven-storeys of of office space | Approx.

Triangle: Seven-storeys office space | Approx.5,400m² 5,400m²internal internalareas areas Triangle: Seven-storeys of office space | Approx.

5,400m² internal areas Nucleus: Six-storeys of of office space | Approx.

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5,400m² internal areas Nucleus: Seven-storeys Six-storeys of office space | Approx.

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Integrated Strategic Locations LEED Gold Seamless Integrated Strategic Locations Towards Towards LEED Gold Seamless Seamless Integrated Strategic Locations Towards LEED Gold Technology in Limassol Certification Technology in Limassol Certification Seamless Integrated Strategic Locations Towards LEED Gold Technology in Limassol Certification Technology in Limassol Certification

Advanced AdvancedSafety Safety Advanced Safety Features Features Advanced Safety Features Features

Ready to Elevate your Business?

Contact our Property Ready to Elevate your Business?

Contact our PropertyConsultants ConsultantsToday.

Today.

Ready to Elevate your Business? Contact our Property Consultants Today.

Ready to Elevate your Business? Contact our Property Consultants Today.

Website: www.tor.cy | E-mail: info@tor.cy Website: www.tor.cy | E-mail: info@tor.cy Website: www.tor.cy | E-mail: info@tor.cy Telephone/WhatsApp: +357 Website: www.tor.cy | +357 E-mail: info@tor.cy Telephone/WhatsApp: 9696 5454 0000 0000 Telephone/WhatsApp: +357 96 54 00 00 Telephone/WhatsApp: +357 96 54 00 00

Dedicated Dedicated Property Property Dedicated Property Management Management Dedicated Property Management Management

@torproperties @torproperties @torproperties @torproperties

Last update Last benefits Lastupdate update on on Cyprus Cyprus benefits benefits

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April 2025 5 April 2025 5 April 2025 April 20255 5

Invest in Cyprus

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Cultivating Prosperity Through Collaborative Diplomacy

he Cyprus Chamber of Commerce and Industry (CCCI) is the constitutional stake holder of the Government in terms of the full spectrum of Economy and serves as the leading voice for private enterprises on the island, driving innovation and promoting Cyprus as a gateway for foreign investors. “We represent businesses across the board,” says President Stavros Stavrou, “and our objective is to foster growth while offering a robust platform for international partnerships.”

One of CCCI’s major focuses this year is to fortify ties with the GCC. “We see significant opportunities for collaboration in sectors such as renewable energy, real estate, luxury hospitality, and shipping,” Stavrou explains. To unlock these, the Chamber coordinates targeted business delegations, backed by detailed research. “We bring the right people together at the right time,” he continues, “so they can swiftly identify win-win projects.” Knowledge sharing is also vital

Stavros Stavrou, President - Cyprus Chamber of Commerce and Industry

to the Chamber’s mission. “We conduct seminars to help Cypriot companies understand GCC regulations and cultural nuances,” Stavrou notes. “Likewise, we run workshops for potential investors from the region, highlighting our Anglo-Saxon legal system, favorable tax regime, and skilled workforce.” Stavrou additionally underscores Cyprus’s family-friendly appeal. “Quality of life matters when relocating,” he points out. “Cyprus offers a safe environment, top-tier schools, and a vibrant cultural scene—making it an ideal choice for work and personal life alike.”

In the long run, Stavrou believes continued cooperation with the GCC will solidify Cyprus’s status as a strategic hub. “Our Chamber remains committed to guiding investors every step of the way,” he concludes.

“Whether it’s matchmaking, legal advice, or practical support, we stand ready to foster mutually beneficial partnerships and sustainable growth across the region and beyond.”

Cyprus Trade Centre in the UAE

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Forging Deeper Partnerships and Driving Innovation

he ever growing and dynamic partnership between the United Arab Emirates (UAE) and the Republic of Cyprus has reached new heights, with both countries actively engaging to strengthen and expand cooperation across key sectors, including, among others, economy, trade, investments, and energy. Discussions between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Cyprus President Nikos Christodoulides underscore a shared vision and commitment to regional stability, progress and prosperity.

The Republic of Cyprus has further enhanced its collaboration with the UAE through two significant Memorandums of Understanding (MoUs) signed by the Deputy Minister of Research, Innovation, and Digital Policy, Dr. Nikodimos Damianou. The first MoU, signed with Khazna Data Centers—the UAE’s largest data center provider and a key entity within the G42 conglomerate—aiming to position Cyprus as a regional hub for technological innovation. The 6

April 2025

second MoU, signed during the World Governments Summit (WGS) 2025 in Dubai with UAE Minister of Artificial Intelligence, Digital Economy, and Remote Work Applications, H.E Omar Sultan Al Olama, focuses on accelerating AI adoption and fostering research collaboration between the two Countries.

H.E. Ms. Meropi Christofi, Ambassador of Cyprus to the UAE and George Partasides from Cyprus Trade Center in Dubai

The Embassy of the Republic of Cyprus to the UAE, alongside with the Cyprus Trade Centre in Dubai, have an instrumental role in boosting and enabling further strengthening these ties by actively participating in major global exhibitions such as GITEX Global, Gulfood, and ADIPEC. These engagements were key in carrying out the groundwork necessary for achieving the enriched cooperation in critical areas, particularly in the fields of artificial intelligence, renewable energy, and digital infrastructure. Moreover, ongoing discussions with the UAE’s TAQA Group and ADNOC have highlighted promising investment opportunities in Cyprus’s energy sector, further solidifying the growing bilateral relationship.

Cyprus offers an attractive tax system, high-quality professional services and a modern infrastructure in transport, communications, and other sectors. These factors, combined with the island’s safe environment, are significant benefits for any company that would like to invest in Cyprus or cooperate with companies based on the island.

Deloitte Cyprus

Interview with Yiannis Sophianos, Partner, Audit, External Audit at Deloitte Cyprus and Cyprus-GCC Countries Business Association President How would you describe the business ties between Cyprus and the GCC Countries?

Cyprus and the GCC countries have a strong and growing relationship, driven by mutual benefits and strategic interests, dating back several decades. In recent years, there has been a notable increase in bilateral relations, with a number of official high-level visits at presidential, parliamentary and ministerial levels, aiming to further expand the economic and political relationships.

Cyprus has strategically established a Cyprus Trade Centre (CTC) located in Dubai, covering all GCC countries. CTC Dubai operates under the auspices of the Ministry of Energy, Commerce and Industry and the diplomatic representation of Cyprus to the UAE. Its primary mission is to enhance the export of Cypriot products and services, and to establish, maintain and develop business relationships between Cyprus and the GCC countries by promoting, facilitating and attracting foreign investment.

Cooperation between the countries covers a wide range of fields. Key focus is placed in the areas of energy, trade and investments, tourism and culture, education, science and technology, as well as shipping and maritime transport.

What advantages does Cyprus offer to companies and investors from the GCC Countries?

Cyprus has an abundance of competitive advantages for businesses and investors from the GCC countries. Its geographical proximity, along with the fact that Cyprus is an EU and eurozone member, make our island a valuable gateway to the EU.

Moreover, Cyprus offers an efficient process to businesses for employing and relocating workforce, with numerous advantages and benefits such as tax exemption for non-domiciled employees, temporary work and residence permits, simplified permanent residence permit applications and a digital nomad visa.

How does the Cyprus-GCC Countries Business Association support business links between the countries?

The Cyprus-GCC Countries Business Association, operating under the auspices of the Cyprus Chamber of Commerce and Industry (CCCI), fosters the expansion of business relations between Cyprus and the GCC countries in every possible way. The exchange of information and delegations, organization of business forums and seminars, and other cooperation initiatives, all aim at fostering and promoting the bilateral relations, facilitating growth, collaboration, and mutual prosperity.

The association is dedicated at promoting and further strengthening the socioeconomic and trade relations acting as an exclusive bilateral and regional business network with strategic connections and partnerships, for any Cypriot or foreign company interested in exploring business opportunities in the respective countries.

How can Deloitte Cyprus support businesses?

Deloitte Cyprus is part of the Deloitte Global network of member firms, one of the largest professional services networks worldwide. At Deloitte Cyprus we provide a complete range of services to businesses including audit and assurance, tax and legal, and consulting services, by leveraging deep industry expertise to help address sector-specific challenges and capitalize on opportunities. We also provide support in corporate law, commercial contracts, employment law, and regulatory compliance through Deloitte Legal.

With a team of highly skilled professionals, Deloitte Cyprus is dedicated in providing its clients with high quality support, local expertise and tailored, strategic, and innovative solutions finely attuned to our clients’ specific needs. We help clients navigate challenges, seize opportunities, and achieve their strategic goals while fostering sustainable growth. As part of Deloitte’s global network, we leverage international resources and best practices to support cross-border operations and global ambitions.

April 2025

7

Invest in Cyprus

Why Global Companies Are Choosing Cyprus as Their EU Hub

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yprus is steadily gaining ground as a preferred base for international companies seeking a stable, cost-effective, and strategically positioned location within the EU. Its welleducated, multilingual workforce includes highly skilled professionals with international experience, making it easier for companies to build strong local teams. As part of the European Union, Cyprus offers visa-free access to the European labor market and benefits from more than 40 EU trade agreements. Its strategic location, paired with strong air connectivity

and modern port infrastructure, supports regional and global operations.

The island’s business ecosystem continues to grow, supported by a broad network of financial and professional services providers. Office rental rates remain competitive, serviced office options are widely available, and labor costs—especially in the tech sector—are among the most favorable in Europe.

Infrastructure is modern, regulatory frameworks are transparent, and operational costs are kept low, particularly for growth-focused companies. Cyprus follows the English Common Law system and aligns with both EU and international standards, providing robust legal protection and a straightforward filing process for companies. These features contribute to a predictable and secure operating environment.

The government has introduced a number of incentives aimed at attracting foreign businesses and skilled talent—particularly in high-tech, shipping, pharmaceuticals, and R&D sectors. These include simplified residency and employment procedures, as well as tax-related advantages. With guidance available through Invest Cyprus, companies benefit from a clear and practical roadmap for relocation or expansion.

CIBA: Empowering International Business in Cyprus

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he ever growing and dynamic partnership between the United Arab Emirates (UAE) and the Republic of Cyprus has reached new heights, with both countries actively engaging to strengthen and expand cooperation across key sectors, including, among others, economy, trade, investments, and energy. Discussions between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Cyprus President Nikos Christodoulides underscore a shared vision and commitment to regional stability, progress and prosperity.

The Republic of Cyprus has further enhanced its collaboration with the UAE through two significant Memorandums of Understanding (MoUs) signed by the Deputy Minister of Research, Innovation, and Digital Policy, Dr. Nikodimos Damianou. The first MoU, signed with Khazna Data Centers—the UAE’s largest data center provider and a key entity within the G42 conglomerate—aiming to position Cyprus as a regional hub for technological innovation. The 8

April 2025

second MoU, signed during the World Governments Summit (WGS) 2025 in Dubai with UAE Minister of Artificial Intelligence, Digital Economy, and Remote Work Applications, H.E Omar Sultan Al Olama, focuses on accelerating AI adoption and fostering research collaboration between the two Countries.

Andreas Pishias, Board Member of CIBA

The Embassy of the Republic of Cyprus to the UAE, alongside with the Cyprus Trade Centre in Dubai, have an instrumental role in boosting and enabling further strengthening these ties by actively participating in major global exhibitions such as GITEX Global, Gulfood, and ADIPEC. These engagements were key in carrying out the groundwork necessary for achieving the enriched cooperation in critical areas, particularly in the fields of artificial intelligence, renewable energy, and digital infrastructure. Moreover, ongoing discussions with the UAE’s TAQA Group and ADNOC have highlighted promising investment opportunities in Cyprus’s energy sector, further solidifying the growing bilateral relationship.

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Mediterranean countries,After Cyprusevaluating emerged asseveral the clear choice. countries,Cyprus Cyprusemerged emergedas asthe theclear clearchoice. choice. countries, countries, Cyprus emerged as the clear choice.

“In terms of ease of doing business, government “In terms terms of of ease of of doing business, business, government government “In “In termsand of ease ease of doing doing business, government support, investor facilitation, Cyprus exceeded support, and and investor investor facilitation, facilitation, Cyprus Cyprus exceeded exceeded support, support, and investor facilitation, exceeded our expectations,” Kassatly explains.Cyprus “We were guided ourexpectations,” expectations,”Kassatly Kassatlyexplains. explains.“We “Wewere wereguided guided our our expectations,” Kassatly explains.

“We were guided at every step, from permits to implementation, and at every every step, step, from from permits permits to to implementation, implementation, and and at at step, from to positive.” implementation, and theevery experience was permits incredibly theexperience experiencewas wasincredibly incrediblypositive.” positive.” the the experience was incredibly positive.”

BBBI’s facility, located just 10 kilometers from BBBI’s facility, facility, located located just just 10 10 kilometers kilometers from from BBBI’s Limassol Port, islocated a major production and exportfrom hub BBBI’s facility, just 10 kilometers LimassolPort, Port,isisaamajor majorproduction productionand andexport exporthub hub Limassol for the company’s flagship non-alcoholic beverage Limassol Port, is a major production and export hub for the the company’s company’s flagship flagship non-alcoholic non-alcoholic beverage beverage for line,the FREEZ MIX, already across beverage the GCC. for company’s flagship popular non-alcoholic line, FREEZ FREEZ MIX, MIX, already already popular popular across across the the GCC. GCC. line, The company secured all factory licenses in six line, FREEZ MIX, already popular across thejust GCC. The company company secured secured all all factory factory licenses licenses in in just just six six The months—a remarkable achievement considering The companyremarkable secured all achievement factory licensesconsidering in just six months—a months—a remarkable achievement considering the complexity involved.achievement With supportconsidering from Invest months—a remarkable the complexity complexity involved. With With support support from from Invest Invest the involved.

Cyprus and the Ministry of Energy, Commerce and the complexity With support from Invest Cyprus and the theinvolved.

Ministry of of Energy, Energy, Commerce and Cyprus and Ministry Commerce and Industry’s Facilitation Unit, bureaucracy was minimal Cyprus and the Ministry ofbureaucracy Energy, Commerce and Industry’s Facilitation Unit, bureaucracy wasminimal minimal Industry’s Facilitation Unit, was and highlyFacilitation coordinated.

Industry’s Unit, bureaucracy was minimal andhighly highlycoordinated. coordinated. and and highly coordinated.

Once licensed, the construction phase was executed Once licensed, licensed, the the construction construction phase phase was was executed executed Once at record speed.the “We completed 27,000 square meters Once licensed, construction phase square was executed atrecord record speed.“We “We completed27,000 27,000 square meters at speed. completed meters of development and launched production within 18 at speed. “We 27,000 square meters ofrecord development andcompleted launched production production within 18 of development and launched within 18 months from the first excavation,” Kassatly notes. of development and launched production within 18 months from the the first excavation,” Kassatly notes. months from first excavation,” Kassatly notes. months from the first excavation,” Kassatly notes.

While the the investment investment journey journey was was overwhelmingly overwhelmingly While the investment journey was overwhelmingly While positive, Kassatly notes a few areas for improvement. positive,Kassatly Kassatlynotes notesaafew fewareas areasfor forimprovement. improvement. positive, High energy costs and port charges remain challenges, Highenergy energycosts costsand andport portcharges chargesremain remainchallenges, challenges, High though he points out that discussions with relevant though he he points points out out that that discussions discussions with with relevant relevant though ministries are ongoing and that potential solutions are ministriesare areongoing ongoingand andthat thatpotential potentialsolutions solutionsare are ministries in motion.

Labor shortages, a common issue across in motion. motion. Labor Labor shortages, shortages, aa common common issue issue across across in Europe, have have been been mitigated mitigated by by the the responsiveness responsiveness of of Europe, Europe, have been mitigated by the responsiveness of Cyprus’s labor authorities, who have enabled skilled Cyprus’s labor labor authorities, authorities, who who have have enabled enabled skilled Cyprus’s staffing from from third third countries countries where where necessary. necessary.skilled staffing staffing from third countries where necessary.

Despite these these minor minor hurdles, hurdles, Kassatly Kassatly remains remains Despite Despite these minor hurdles, Kassatly remains Despite these minor hurdles, Kassatly remains strongly optimistic.

“I would absolutely recommend strongly optimistic. optimistic. “I “I would would absolutely absolutely recommend recommend strongly strongly optimistic.

“I would absolutely recommend Cyprus to to any investor investor looking to enter enter the the European Cyprus any looking to European Cyprus to any investor looking to enter the European Cyprus to any investor looking to enter the European market,” he affirms.

“The support we received, market,” he he affirms. affirms. “The “The support support we we received, received, market,” market,” he affirms.

“The support we received, the efficiency of procedures, and the quality of the efficiency efficiency of of procedures, and and the the quality quality of the the efficiencymade of procedures, procedures, and the quality of of partnerships this project a true success.” partnerships madethis this projectaatrue true success.” partnerships partnerships made made this project project a true success.” success.”

Nayef Kassatly, NayefKassatly, Kassatly, Nayef

Nayef Kassatly, Managing Director of BBBI ManagingDirector Directorof ofBBBI BBBI Managing Managing Director of BBBI

As BBBI BBBI continues continues to to scale scale up up operations operations from from its its As As BBBI continues to up operations from its As BBBI base, continues to scale scale up operations from its Cyprus it stands as a clear example of how Cyprus base, base, it stands stands as aa clear clear example example of of how Cyprus Cyprus base, it itbusinesses stands as ascan a clear of how how international thriveexample on the the island— island— international businesses can can thrive thrive on international businesses on the island— international businesses can thrive on the island— backed by a pro-business environment, skilled backed by by aa pro-business pro-business environment, environment, skilled skilled backed backed by and a pro-business environment, skilled workforce, strategic connectivity connectivity to Europe Europe and workforce, and strategic strategic to and workforce, and connectivity to Europe and workforce, and strategic connectivity to Europe and the Middle East. theMiddle MiddleEast.

East. the the Middle East.

April 2025 9 April2025 2025 99 9 April 2025 April April 2025 9

Invest in Cyprus

Strategic Pivot in Global Finance

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ituated strategically, Cyprus acts as a linchpin between Europe and the dynamic financial markets of the Middle East and Asia. This positioning becomes a magnet for global enterprises, making Cyprus a gateway to a myriad of market potentials.

Enjoying its stature as a European Union member, Cyprus benefits from harmonized EU financial rules. It offers top-notch financial services characterized by efficiency, quality, and a competitive edge.

Acknowledging the transformative potential of financial technologies, Cyprus’s financial sector is at the vanguard of innovation. Minister Keravnos points out, “Our banking entities are making significant tech investments and forging strategic ties with FinTech entities, preparing to enhance their services and boost revenues.”

Makis Keravnos, Minister of Finance

Minister Makis Keravnos asserts, “Thanks to our coordinated efforts, Cyprus has climbed the ranks of innovation within the EU. We’ve achieved notable milestones in technology and venture capital.”

Demonstrating unwavering commitment, both the Cyprus Government and the Ministry of Finance champion the growth of the funds sector.

Recognizing the power of data analytics, Cyprus’s banking realm reaffirms its mission to stay ahead in industry trends. Their focus remains on sustained profitability and enriching stakeholder value.

Cyprus’s proactive approach to cryptocurrencies and blockchain is commendable. Guided by CySEC, the country is fashioning regulatory safeguards against potential crypto pitfalls. Minister Keravnos comments, “Our alliance with the European Union facilitates the evolution of the MiCA directive, guaranteeing that innovation remains in tandem with investor protection.”

In parallel, Cyprus is bolstering the regulatory and compliance structures of its banking sector to ward off potential illicit financial activities. The nation’s allure is evident in the decisions of global corporations to anchor their financial operations in Cyprus, fueling economic vigor.

By weaving CySEC’s sandbox framework into national blueprints, Cyprus underscores its commitment to fostering FinTech innovations while keeping investor safety paramount.

Cyprus your key to CIS-capital and financial markets Find out with Dr. Sergey Chudinov and Conglomerate Group

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and legal support, ensuring its clients navigate complex international regulations seamlessly. The company actively participates in leading business forums and events, staying attuned to the latest market trends and emerging opportunities.

ecent researches show the significant changes on the financial markets in the period of 2022-2024. Multiple times growing of amounts of deposits, exterior trade volumes and investments in economies of UAE and CIS-countries (such as Armenia, Uzbekistan, Kazakhstan etc.) influence the whole industry of corporate services and banking.

Meanwhile Cyprus is still a traditional jurisdiction for holding companies and headquarters of CIS and neighbour countries business`s, first of all in sphere of informational technologies, finance and crypto. Local legislation provides unique taxation benefits, offering at the same time reputation and advantages of European Union.

With offices strategically located in Cyprus, Dubai and Armenia, Conglomerate Group expertise in business organization, cash-flow optimization, payment solutions 10

April 2025

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Find out more on our website: www.conglomerate.group Or call us directly: 00357 99774465 – Cyprus 00971 561877900 – UAE 00374 94908571 - Armenia

Cyprus Fund Hub Eyes the Gulf

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s the leading representative of the fund industry in Cyprus, CIFA - the Cyprus Investment Funds Association – is a nonprofit organization focused on the promotion of the fund industry in Cyprus. “We work closely with government bodies, regulators, and private stakeholders to foster expansion and showcase Cyprus as a reliable EU hub.” explains Maria Panayiotou, CIFA’s Board President.

CYFA:

Empowering Cyprus as a Gateway to Global Business Maria Panayiotou, Board President of CIFA

Strengthening relationships in the Gulf region, with a focus on the UAE, stands high on CYFA’s agenda. “We see immense potential for collaboration with investors from the GCC,” Christoforou explains. “One of our targets this year is to raise awareness of Cyprus’s unique benefits—its advanced legal framework, cost-competitive environment, and strategic position as a gateway to the EU.”

Strengthening relationships in the Gulf region, particularly with the UAE, is a core focus for CIFA this year. “One of our targets is to raise awareness of the industry in the Gulf,” Mrs Panayiotou explains. Plans include a major event in Saudi Arabia, where CIFA members—fund managers, accountants, and legal experts—will highlight Cyprus’s advantageous tax framework and experienced workforce. “We will showcase the benefits of having a fund in Cyprus, explaining our robust regulatory environment and how it can serve as a gateway to Europe,” she adds.

Future priorities also include finalizing fund administration legislation, modernizing partnership laws, and exploring new products and services for the fund sector. “With lower operating costs compared to other European jurisdictions, Cyprus is an attractive option,” the Board President concludes. “We encourage investors across the GCC and UAE to consider us for their European investments.”

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YFA, the Cyprus Fiduciary Association, is the key representative of fiduciary service providers on the island. “Our main objective,” says President Costas Christoforou, “is to uphold high industry standards and promote Cyprus as a reliable business center.” The Association works in close cooperation with government entities, regulators, and private sector professionals, assisting members maintaining compliance with evolving legislation.

Looking ahead, CYFA aims to further highlight Cyprus as a headquarters location for Middle East businesses.

“Cyprus is not just for those seeking to invest locally— it’s a hub for global operations,” Christoforou adds.

“Our well-educated workforce, modern infrastructure, and business-friendly tax regime offer a competitive advantage to companies looking to expand.”

Costas Christoforou, President of CYFA

Additionally, CYFA is committed to providing continuous support to companies, helping them navigate the regulatory landscape and connect with key stakeholders across the region.

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April 2025

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Invest in Cyprus Invest in Cyprus

ired Living & king in Limassol

Midori Residences, are strategically located in the city center, 300m from the beach. Each residence comprises eight thoughtfully designed two-bedroom apartments, blending elegant interiors, top-quality finishes, premium amenities, buildings. These business centers incorporate energy-efficient buildings.

These business centers incorporate energy-efficient buildings.

These business centers incorporate energy-efficient designs and cutting-edge features thatpenthouses offer companies and standout architecture.

The exclusive in both designs and and savings, cutting-edge features that offer offer companies designs cutting-edge features that companies operational enhanced reputation, and healthier developments feature private roof gardens and breathtaking operational savings, enhanced and healthier work environments, leading toreputation, higher productivity and sea views,work while Midori enhances the experience with infinity work environments, leading to higher productivity and environments, leadingbusinesses. to higher productivity and satisfaction, fostering thriving thriving businesses. pools thatsatisfaction, completefostering the ultimate Mediterranean living satisfaction, fostering thrivingurban businesses.

Their elite residential projects, Shinko Residences and experience.

Their elite elite residentialare projects, Shinko Residences and Their residential projects, Shinko Residences Midori Residences, strategically located in the and city Midori300m Residences, are strategically located in the theeight city Midori Residences, strategically located in city center, from theare beach.

Each residence comprises Senkei Residences is anthe high-end development center,300m 300mfrom from theupcoming beach.

Eachresidence residence comprises eight center, beach.

Each comprises eight thoughtfully designed two-bedroom apartments, blending situated thoughtfully on oneinteriors, of designed Limassol’s most prestigious streets. It thoughtfully designed two-bedroom apartments, blending two-bedroom apartments, blending elegant top-quality finishes, premium amenities, elegant interiors, top-quality finishes, premium amenities, interiors, top-quality finishes, premium amenities, features elegant 18 business-class apartments with large verandas and standout architecture.

The exclusive penthouses in both andstandout standoutarchitecture. architecture.

The exclusive penthouses inboth both and The exclusive penthouses in developments featureincluding private roof and breathtaking and landscaped gardens, 10gardens three-bedroom and 8 developments feature private roof gardens and breathtaking developments feature private roof gardens and breathtaking sea views, while Midori enhances the experience with infinity two-bedroom units.

This exclusive development promises an sea views, views, while Midori enhances the experience experience with infinity sea Midori the with infinity pools thatwhile complete theenhances ultimate urban Mediterranean living exceptional living experience for those to settle with pools that complete complete the ultimate ultimate urbanlooking Mediterranean living pools that the urban Mediterranean living experience. experience. their families or invest in an architectural masterpiece within experience.

Senkei Residences is an upcoming a neighborhood that provides it all. high-end development Senkei Residences Residences is an an upcoming upcoming high-end development Senkei development situated on one of is Limassol’s mosthigh-end prestigious streets. It situated on one of Limassol’s most prestigious streets.

It situated on business-class one of Limassol’s most prestigious It features 18 apartments with largestreets. verandas "We emphasize exceptional quality and architectural features 18 business-class apartments with large verandas features 18 business-class apartments with large verandas and landscaped gardens, including 10 three-bedroom and 8 and landscaped gardens, including 10 excellence, striving tounits. create workspaces andand homes and landscaped gardens, includingdevelopment 10 three-bedroom three-bedroom and two-bedroom Thisinspiring exclusive promises an88 two-bedroom units.

This exclusive development promises an two-bedroom units.

This exclusive development promises an exceptional living experience for those looking settle with that leave a meaningful and positive impact ontooccupants, exceptional living experience for those those looking looking to settle settle with exceptional living experience for to with their families or invest in an architectural masterpiece within residents, the local and the environment.” families orcommunity, invest in an an architectural architectural masterpiece within withintheir families or invest in masterpiece atheir neighborhood that provides it all.

Orestis Katsaros, Head of Strategy and Development a neighborhood that provides it all. a neighborhood that provides it all. at Tor Properties "We emphasize exceptional quality and architectural "We emphasize emphasize exceptional qualityworkspaces and architectural architectural "We exceptional quality and excellence, striving to create inspiring and homes excellence, striving to create inspiring workspaces and homes homes excellence, to create and that leavestriving a meaningful andinspiring positiveworkspaces impact on occupants, that leave a meaningful and positive impact on occupants, that leave a meaningful and positive impact on occupants, residents, the local community, and the environment.” residents, the local localHead community, and the the environment.” residents, the community, and Orestis Katsaros, of Strategy andenvironment.”

Development -Orestis Katsaros, Katsaros, Head Head ofProperties Strategy and and Development Development Orestis Strategy at Torof at Tor Tor Properties Properties at

Inspired Inspired Living Living & & Working in in Limassol Limassol Working

erties redefines high-end living and s excellence, offering upscale city nts and high-powered business centers. elopment is ideally located in the vibrant viding seamless connectivity to highways, ports. The charming city center and the of Limassol are only moments away, energy-efficient buildings.

These business centers incorporate or Properties redefines high-end living and designs and cutting-edge featuresoffering that offer companies end of work and leisure. or Properties redefines high-end living city and or Properties redefines high-end living and business excellence, upscale

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operationalbusiness savings, enhanced reputation, and healthier business excellence, offering upscale city excellence, offering upscale city apartments and high-powered business centers. work environments, leading to higher productivity and apartments and high-powered business centers. apartments and high-powered business centers.

Each development is ideally rt business centers, Thethriving Triangle andlocated in the vibrant satisfaction, fostering businesses.

Each development is ideally located in the vibrant Each development is ideally located in the vibrant city of Limassol, providing seamless connectivity to highways, ed to achieve the prestigious LEED Gold cityof ofLimassol, Limassol, providing seamless connectivity tohighways, highways, city connectivity to major cities, andproviding airports. seamless The charming city center and the Their elite residential projects, Shinko Residences and ership major in Energy and Environmental major cities, cities, and airports. airports.

The charming charming city center and and the and The city center the stunning coastline of Limassol are only moments away, Midori Residences, are strategically located in the city stunning coastline of Limassol are only moments away, recognized for and green stunning coastline of Limassol areleisure. only moments away, providingrating an idealsystem blend of work center, 300m fromblend the beach.

Each residence providing an ideal ideal blend of work work and leisure. comprises eight providing an of and leisure. thoughtfully designed two-bedroom apartments, blending Their state-of-the-art business centers, The Triangle and elegant interiors, top-quality finishes, premium amenities, Their state-of-the-art business centers, The Triangle and Their state-of-the-art business The Triangle and Nucleus, are designed to achievecenters, the prestigious LEED Gold and standout architecture.

The exclusive penthouses in both Nucleus, are designed to achieve the prestigious LEED Gold Nucleus, are designed to achieve the prestigious LEED Gold certification (Leadership in Energy and Environmental developments featurerecognized private gardens and breathtaking certification (Leadership in roof Energy and Environmental certification (Leadership in Energy and Environmental Design), a globally rating system for green sea views, while Midori enhances the experience Design), aa globally globally recognized recognized rating rating system systemwith forinfinity green Design), for green pools that complete the ultimate urban Mediterranean living experience.

Limassol

A city of growth, a city for all

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Limassol Limassol

stunning southern coast of Cyprus, embracing smart technologies, expanding green spaces, and Senkei Residences is an upcoming high-end development een a city whereonhistory meets progress, infrastructure to create a cleaner, more livable A city city for all situated one of Limassol’s most prestigious streets.

It of growth, aenhancing A city of growth, a city for all h modernity, ambition finds a home.with large verandas environment for future generations. featuresand 18 business-class apartments Nestled along the stunning southern coast of Cyprus, embracing smart technologies, expanding green spaces, and and landscaped gardens, including 10 three-bedroom and 8 as evolved into a vibrant international embracing smart smart technologies, expanding greenmore spaces, and Nestled along along thebeen stunning southern coast of progress, Cyprus, Nestled the stunning southern coast of Cyprus, embracing technologies, expanding green spaces, and Limassol has long aexclusive city where history meets enhancing infrastructure to create a cleaner, livable two-bedroom units.

This development promises an iduals, families, investors, and businesses We believe that economic prosperity and environmental enhancing infrastructure to create a cleaner, more livable Limassol has long been a city where history meets progress, Limassol has long been a city where history meets progress, enhancing infrastructure to create a cleaner, more livable environment for future generations. tradition blends modernity, a home. exceptional livingwith experience for and thoseambition looking finds to settle with environment for future future generations. tradition blends with modernity, andaambition ambition finds aa home. home. nd forward-thinking responsibility go hand in hand.

With its strategic location, tradition with and finds environment for generations.

Over theblends years, itenvironment. hasmodernity, evolved into vibrant international their families or invest in an architectural masterpiece within Overattracting the years, years,individuals, it has has evolved evolved intoinvestors, a vibrant vibrantand international Over the it into a international We believe that economic prosperity and scene, environmental hub, families, businesses modern infrastructure, and vibrant cultural Limassol a neighborhood that provides it all.

We believe believe that that economic prosperity and environmental hub, attracting attracting individuals, families, investors, investors, and businesses businesses hub, individuals, families, and We economic prosperity and environmental responsibility go hand in hand.

With its strategic location, seeking a dynamic and forward-thinking environment. l and shipping hub, Limassol has become offers a truly unique and rewarding experience.

Whether responsibility go hand hand in in hand. hand.

With its strategic strategic location,you seeking aa dynamic dynamic and forward-thinking forward-thinking environment. environment. seeking responsibility go With its location, modern infrastructure, and vibrant cultural scene, Limassol "We emphasizeand exceptional quality and architectural tre, drawing talent and investment from are looking toa truly invest, establish a business, relocate with modern infrastructure, and vibrant culturalor scene, Limassol modern infrastructure, vibrant cultural scene, Limassol offers unique andand rewarding experience.

Whether you As Cyprus’s financial shipping hub, Limassol has excellence, striving toand create inspiring workspaces andbecome homes offers a truly unique and rewarding experience.

Whether you As Cyprus’s financial and shipping hub, Limassol has become your family, you will find a establish welcoming and forward-thinking As Cyprus’s anddrawing shipping hub,impact Limassol has become offers a truly unique and rewarding experience.

Whetherwith you are looking to invest, a business, or relocate a global business centre, talent and investment from Armeftis, Yiannis that leave afinancial meaningful and positive on occupants, are looking to invest, establish a business, business, or relocate relocate with with a global globalthe business centre, drawing drawing talent and and investment investment from from aaround business centre, are looking to invest, establish a or your family, you will find a welcoming and forward-thinking world. city ready to support your ambitions.

Yiannis Armeftis, residents, the local community,talent and the environment.”

Mayor of Limassol your family, will welcoming around the world. around world.

Yiannis Armeftis, yourready family, you will find find welcoming and and forward-thinking forward-thinking city to you support youraaambitions.

Mayor of Limassol Yiannis Armeftis, Orestis Katsaros, Head of Strategy and Development dedicated tothe fostering an investmentcity ready to support your ambitions.

Mayor of Limassol city ready to support your ambitions.

Our municipality is dedicated to fostering an investmentMayor of Limassol at Tor Properties nt, actively supporting foreign We look forward to welcoming youyou to to Limassol andbeing being part Our municipality municipality dedicated todirect fostering an an investmentOur isis dedicated fostering investmentWe look forward to welcoming Limassol and part friendly environment, activelyto supporting foreign direct Weyour lookjourney forward tosuccess. welcomingyou youto toLimassol Limassoland andbeing beingpart part friendly environment, actively supporting foreign direct direct uring that businesses and individuals canand individuals of your journey to success. friendly environment, actively supporting foreign We look forward welcoming of toto investment, and ensuring that businesses can of your your journey journey to to success. success. investment, and ensuring thatthriving businesses and individuals individuals can can investment, and ensuring that businesses and of seamlessly into our community. into our thrivingintegrate community.

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seamlessly integrate integrate into into our our thriving thriving community. community. seamlessly Beyond business, Limassol is committed to sustainable Limassol is committed to sustainable Beyond business, Limassol is committed committed to sustainable sustainable Beyond business, is to development, greenLimassol initiatives, and inclusivity.

Our city is development, green Our initiatives, and inclusivity.

Our and cityinclusivity. is development, green initiatives, initiatives, and inclusivity.

Our city city is is embracing smart technologies, expanding green spaces, and enhancing infrastructure to create a cleaner, more livable 12 April 2025 environment 12 April 2025 for future generations.

city for all

12 April April 2025 2025 12

We believe that economic prosperity and environmental

ELEVATING URBAN LIVING WITH HOMES THAT INSPIRE Limassol, Cyprus

Prime Locations in Limassol

Prices from €439,000 + VAT

Attractive Yield of 8%+

Energy Efficient Buildings

300m Away From The Beach

Cutting-edge Facilities

Advanced Safety Features

Photovoltaic Panels

VRV Climate Control System

Secured Parking Places

Tor Properties is transforming real estate in Cyprus by creating exceptional homes in prime locations. With a focus on modern comfort and convenience, each project is designed to offer a contemporary lifestyle complemented by superior facilities. Through innovation and thoughtful planning, Tor Properties delivers both practicality and premium living, contributing to vibrant, well-connected communities.

Website: www.tor.cy | E-mail: info@tor.cy | Telephone/WhatsApp: +357 96 54 00 00 @torproperties

Invest in Cyprus

Cyprus Education Shaping a Global Future

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erived from the human-centered Government Programme, the Ministry of Education, Sport, and Youth in Cyprus is committed to continuously improving education. Our policy promotes equal learning opportunities, creativity, participation, and innovation, fostering lifelong development while empowering youth and promoting sports.

Latest achievements and observed trends in the Education sector in Cyprus Since March 2024, the Ministry has introduced a new student assessment system in secondary education and, starting September 2024, implemented revised curricula across all subjects to reduce content. Additionally, we promoted legislation for free compulsory pre-primary education from age four, alongside early intervention programs for literacy, violence, and delinquency in kindergartens. A new financial literacy program has been added to secondary education.

To enhance special education, we support teachers with digital materials, pilot a summer school in Special Schools, and expanded the Optional All-Day School to all Special Schools. Moreover, we have increased aides for children with special needs and provided training for them.

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We are also advancing Secondary Technical and Vocational Education and Training. A major initiative, recently approved by the Counsil of Ministers, is the introduction of Technical Schools in lower secondary education to provide early exposure to vocational training.

Dr Athena Michaelidou, Minister of Education

Ministry’s current priorities Key reforms for 2025 include improving Special Education, updating curricula with a focus on digital transformation and labor market alignment, reorganizing higher education, and further upgrading technical and vocational education. We continue to expand the AllDay School program and will introduce career counseling in upper elementary grades. A new teacher evaluation system is also promoted.

Strategies to keep attracting foreign institutions and students and position Cyprus as international hub for education the forefront of the sector The Counsil of Ministers has recently approved the Ministry’s strategic plan to modernize Higher Education in Cyprus, connecting it with the labor market and positioning Cyprus as an international education hub. Recently, the House of Representatives approved amendments to laws regulating foreign university branches in Cyprus, supporting our goal to internationalize higher education.

The programs at AUB Mediterraneo are tailored to offer students a truly global perspective, integrating European and Middle Eastern viewpoints into the curriculum. “Our courses offer students a global perspective by blending European and Middle Eastern viewpoints, enriching their learning experience,” says Rector Wassim El Hajj. “Our innovative curriculum equips students with the tools and skills they need for success in a rapidly changing world.” Through this distinctive approach, AUB Mediterraneo prepares students to think critically and creatively, empowering them to address challenges and seize opportunities in the global landscape.

Life in Pafos provides an ideal balance for students, combining Cyprus’s rich cultural heritage with a relaxed, seaside atmosphere. Known for its UNESCO World Heritage sites, lively festivals, and welcoming local community, Pafos is an inspiring place for students to grow academically, socially, and personally. With the support of experienced faculty and comprehensive student services, students at AUB Mediterraneo can look forward to a fulfilling, well-rounded university experience.

AUB Mediterraneo is more than a campus; it’s a gateway to a world of knowledge and opportunity, rooted in the Mediterranean’s rich history yet open to the world.

AUB Mediterraneo: A New Era of Education on the island of Cyprus in Europe

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DISCOVER AUB MEDITERRANEO World-class education, global opportunities, and hands-on learning in a vibrant European city.

he American University of Beirut – Mediterraneo (AUB Mediterraneo) opened its doors in fall 2023, establishing an exciting academic hub in the coastal city of Pafos, Cyprus. Welcoming over 150 students from 26 countries for its inaugural fall 2024 semester, this new campus is dedicated to fostering a vibrant and diverse learning community. Located in downtown Pafos, just steps from the Mediterranean Sea, AUB Mediterraneo offers students a dynamic educational environment that balances academic rigor with personal growth.

As a twin campus of the American University of Beirut (AUB), the new campus’ architectural elements were inspired by AUB’s iconic Beirut campus featuring a clock tower and green oval area, blending tradition with modern design. Part of AUB’s broader Global initiative, AUB Mediterraneo represents a forward-looking vision, expanding AUB’s legacy of excellence to new regions and new generations.

April 2025

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Invest in Cyprus

Cyprus Shipping: Anchoring Growth, Navigating the Future

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hipping is a cornerstone of Cyprus’s economy, evolving significantly since the 1970s when major international shipowners first recognized the island’s potential. Today, the maritime cluster comprises owners, managers, and service providers overseeing more than 2,8500 vessels, contributing around seven percent to the national GDP. A potent mix of Anglo-Saxon legal foundations, a competitively structured tonnage tax system, and robust public-private collaboration has helped Cyprus secure its position as a leading European hub for ship management and maritime services.

requirements,” says Alexandros Josephides, Director General of the Cyprus Shipping Chamber (CSC). By championing collaborative efforts and forward-looking policies, the Chamber aims to preserve Cyprus’s reputation as a premier maritime center—one poised to meet the demands of a rapidly changing global shipping landscape.

Alexandros Josephides, Director General of the CSC

Established in 1989, the CSC represents nearly 200 companies—ranging from shipowners and managers to specialized maritime services provider. “While advocating the interests of our members, we also play a pivotal role in navigating industry-wide challenges, such as sustainability targets and evolving labor

Tech Island

Innovation in Action

Powering Cyprus’s Digital Future

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mong the many sectors with potential in Cyprus, the tech industry stands out as a rapidly emerging powerhouse. TechIsland is playing a central role in Cyprus’ emergence as a global tech destination. Founded by industry leaders, the association now represents over 355 companies—60% of them international—making it the largest tech business organization in the country.

Collectively, its members employ more than 20,000 professionals in Cyprus and 40,000 worldwide.

“We’ve built an inclusive and dynamic ecosystem that supports companies of all sizes and subsectors,” says Tanya Romanyukha, General Manager of TechIsland. The organization fosters collaboration through professional communities and partnerships with global players such as Microsoft, Amazon, and Snap. With Cyprus contributing over 14% of its GDP from the tech sector, the momentum is clear. “Cyprus is uniquely positioned as a gateway to Europe for companies from the Middle East,” Romanyukha adds.

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April 2025

“As the global industry pivots toward decarbonization and digitalization, Cyprus’s well-established expertise in technical and crew management gives us a unique advantage,” Josephides adds. “We’re continually working with government bodies to, streamline regulatory processes, and further improve our tonnage tax framework. This integrated approach ensures that our members remain agile and competitive.”

Tanya Romanyukha, General Manager of Tech Island

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Dr. Tasos Konoudes, President of CARIE

“Our members don’t just export products—they export technologies,” says Dr. Tasos Kounoudes, President of CARIE. With expertise spanning agriculture, electronics, defense, software, materials, and autonomous systems, CARIE companies are engaged in over 400 European funded contracts, showcasing Cyprus’s industrial R&D strength. Cyprus offers a thriving environment for innovation.

n Cyprus, Research and Innovation is gaining momentum, with local enterprises increasingly contributing to technological development across multiple industries. CARIE, the Cyprus Association of Research and Innovation Enterprises, has been at the heart of this progress since 2010.

Representing 40 pioneering Cypriot companies, the association is central to building the country’s innovation ecosystem and boosting its global competitiveness. Collectively, these companies have contributed over €1.8 billion to the Cypriot economy and employ more than 1,000 engineers and scientists.

Cyprus: The Enchanting Neighbor

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ith direct flight connections from hubs like Lebanon, Jordan, Cairo, Dubai, Abu Dhabi, Qatar, Bahrain and recently, Kuwait and Saudi Arabia, Cyprus positions itself as the quintessential European escape for regional tourists. Reflecting on the latest developments in Cyprus’ tourism industry, Hon. Kostas Koumis, Deputy Minister of Tourism, explains that in recent years, Cyprus has witnessed significant investments in diverse tourism projects, elevating it to the forefront as a luxurious, world-class destination.

“Catering to a broad spectrum of travelers throughout the year, the island now stands as an epitome of grandeur and elegance. It's not just the influx of luxurious accommodations that has set the stage.

Existing hotels have been meticulously renovated to meet the demands of a high-end clientele. Casino resorts, opulent five-star establishments, and state-ofthe-art marinas sprawl across Cyprus, poised to deliver exclusive, bespoke experiences tailored for to satisfy the most sophisticated travelers.

Hon. Kostas Koumis, Deputy Minister of Tourism

Cyprus boasts over 60 blue flag beaches, a testament to our pristine waters and idyllic coastlines that rank among the best in Europe and globally. Yet, what truly distinguishes us is the rich tapestry of experiences we offer. With a heritage spanning 11,000 years, Cyprus is home to UNESCO-listed sites, timeless villages, and a distinctive culinary blend of European and Middle Eastern influences.

Nature enthusiasts will be captivated by our picturesque mountainous regions, replete with panoramic views, year-round trekking, cycling opportunities, and even winter skiing— all within an hour's drive from the coast.

To amplify the inland exploration, the Deputy Ministry of Tourism has launched 'Heartland of Legends' - www. heartlandoflegends.com. Here, travelers can curate and book personalized adventures, delving into the myths and tales that underpin every village, mountain, river, and monument. In line with our strategic vision, we've enhanced our ties with the Middle East. We're enthusiastic about welcoming a growing contingent from the GCC and beyond."

Invest in Cyprus

Discover Limassol: A cosmopolitan beachfront city, shining year-round

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estled in the vibrant city of Limassol, Parklane, a Luxury Collection Resort & Spa, is the flagship property of cosmopolitan Limassol by Marriott International, offering a premier gateway to Cyprus’ rich history and luxurious Mediterranean lifestyle. As part of Marriott’s prestigious Luxury Collection, Parklane combines the allure of 320 sunny days each year with the island’s unique blend of mountains and sea, creating an ideal escape. Positioned at the crossroads of Europe, Asia, and the Middle East, Limassol offers a vibrant mix of modern city life, ancient history, and warm hospitality, making it an ideal destination. Centrally located between Cyprus’ two main airports, Parklane provides easy access to this tapestry of culture, natural beauty, and indulgence. The nearby ancient village of Pyrgos, home to the world’s oldest perfume factory, and the picturesque village of Lefkara, renowned for its lace embroidery admired by Leonardo da Vinci, highlight the island’s rich cultural heritage. Rumor has it that Da Vinci, while visiting Cyprus as a guest of the Queen, returned to Italy with a Lefkaritiko lace tablecloth, which now graces the Duomo chapel in Milan. Parklane’s logo, inspired by an ancient amphora, and its surroundings reflect Cyprus’s deep-rooted legacy, allowing guests to experience luxury intertwined with history, making each stay both memorable and meaningful.

Parklane Resort & Spa offers a carefully curated sanctuary for those seeking both relaxation and excitement. This stunning property is crafted with the expertise of Harrods Interiors and adorned with artwork curated by Atelier 27, Paris, blending Cypriot elegance with international sophistication. Parklane boasts 222 beautifully appointed rooms and 34 suites, each with breathtaking views of a Blue Flag 300-meterlong golden-sand Mediterranean beach. The resort’s 18 exclusive Park Villas provide an extra layer of privacy, each featuring its own pool and seamlessly integrated into the surrounding landscape.

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Parklane Limassol, Park villa with private pool

Parklane Limassol, beach aerial view

Parklane Limassol, Kalloni spa

For guests seeking relaxation and exclusivity, the adultsfriendly Lifestyle Wing offers a private pool and Lifestyle Suites thoughtfully designed for quiet reflection—ideal for couples or anyone desiring a peaceful retreat. Each Lifestyle Suite accommodates up to two adults and one teenager (12 years and above), allowing families to enjoy a serene and secluded experience together. This dedicated area ensures tranquility, featuring secluded sunbathing spots, personalized service, and intimate spaces to soak up the warmth of the Mediterranean sun.

Parklane also offers a suite of activities for the active traveler. Guests can enjoy tennis on artificial clay courts, a multi-use sports area, football pitch and a dedicated Padel Court. The ParkFit health club provides stateof-the-art Technogym® equipment, fitness classes, and an indoor lap pool for a complete wellness experience.

Beachside watersports await those eager to explore the azure waters of the Mediterranean, offering thrilling experiences just steps from the resort.

At the heart of Parklane’s commitment to wellness is the award-winning Kalloni Spa, a 3,000-square-meter sanctuary with fourteen treatment rooms and specialized Thalassotherapy pools, including one mirroring the Dead Sea’s salinity. This peaceful retreat ensures rejuvenation and balance, offering treatments designed to soothe the body and soul.

Parklane is also a destination for culinary and shopping enthusiasts. From the renowned Nammos Limassol to the refined La Petite Maison (LPM), guests can enjoy gourmet experiences spanning Mediterranean to PanAsian flavors. High-end mono-brand boutiques at “The Retail Village at Nammos Limassol” offer elegant shopping options, making it easy to find designer clothing and accessories that embody the resort’s luxurious ethos.

For those seeking the pinnacle of tailored elegance, The Bespoke Collection at Parklane is a sanctuary of personalized service and sophistication. Each villa and suite are meticulously designed, offering private checkins, a dedicated concierge, and exclusive experiences like VIP meet-and-greet services and complimentary airport transfers. Guests staying in the top suites and villas receive a €400 resort credit for stays of four nights or more, access to a private cabana, and complimentary Thalassotherapy treatments, all crafted to create an experience that blends comfort and luxury effortlessly.

Unlike traditional city-to-city travel, Limassol offers a transformative experience, where history, luxury, and relaxation converge. From the exclusive adults-only areas and tranquil Kalloni Spa to an active sports scene and historical treasures, Parklane promises to its guests an experience that transcends the ordinary. Discover why Limassol is a city like no other—a place where Mediterranean serenity meets Cyprus’ vibrant heart.