A panel of experts at the 3rd Cyprus International Technology Relocation Summit explained why they consider Cyprus to be a top choice for the relocation of technology companies, offering a comprehensive ecosystem that combines a favorable legal and tax framework, specialised services and a high quality of life.
The panel discussion, entitled 'The Corporate Offering: An International Business Centre with an Attractive Framework for Technology Companies, ' focused on the advantages that make the island a strategic destination for international businesses and their shareholders.
The discussion covered critical issues, such as the technology ecosystem in Cyprus, the procedures for establishing and operating companies, the legal framework for businesses, taxation and intellectual property management, as well as the possibilities for creating family offices and ensuring succession and corporate governance.
Tony Hadjiloucas, Partner, in charge of Private Wealth Services, PwC Cyprus referred to the large transfer of wealth expected in the coming years to the new generation, underlining the importance of preparing and creating solutions that ensure a sustainable transition. At the same time, he focused on the issue of cybersecurity, noting that family offices are extremely vulnerable to cyberattacks, as they manage extremely sensitive family data.
Nayia Morphi, Managing Director & Founding Partner, Nobel Trust Ltd and Nobel Hellas SA, highlighted the flexibility of Cyprus, both at a private and institutional level. “Decisions are made quickly, contacts are direct and the network of professionals operates effectively. Cyprus can adapt to developments, either through legislation or through consultants who actively support the sector,” she noted, adding that the country combines the stability of the European framework and English law with the dynamics of a growing startup ecosystem.
Christoforos Panagi, Alternate CFO, ECOMMBX, referred to the importance of strategic planning for the development of new products and vertically integrated solutions, as well as the proper management of resources and forecasts. He emphasised that “internal innovation and value creation through our own mechanisms are the core of our strategy.”
Andrea Kallis Parparinou, Partner, Elias Neocleous & Co LLC, focused on the management and protection of intellectual property (IP), explaining how companies can secure ownership and control of their IP through employment contracts and partnerships with third-party providers. She also referred to the new European legislative reform on designs, which will soon enter into full force, introducing a new category of protected digital products and modernizing the overall IP framework within the EU.
The discussion was moderated by Marios Tannousis, CEO, Invest Cyprus.
(Source: InBusinessNews)
