Interesting case studies have highlighted Cyprus as a strategic location for the relocation of international technology companies, and also as an ecosystem that combines stability, security and growth potential, while ensuring connection with the local community and talent retention.
Organisations that have made Cyprus their base have shared their journey from their initial destination to the island as their final stop, and the reasons why the country was included in their route during a series of fireside chats at the 3rd Cyprus International Technology Relocation Summit.
“Cyprus was an excellent choice for us,” said Ilya Aristov, Engagement Manager, Director, DataArt Cyprus, in a discussion with Artemis Pnevmatikou, Head of PR & Communications, TechIsland.
The choice of Cyprus was made within the strategic context of expansion, as the company wanted to maintain business flexibility and open new markets in FinTech Europe. The smooth integration into the local business environment, the absence of bureaucratic obstacles and access to qualified technological human resources were highlighted by the company as key advantages, he added.
Hassan Kamal, Head of Beirut and Nicosia at Murex, also shared his experience, speaking with Tanya Romanyukha, General Manager, TechIsland. The establishment in Cyprus was initially a move to ensure business continuity after the Beirut port explosion in 2020. The strategic choice of Cyprus was based on security, stability and accessibility to international markets, he said. Rather than expanding immediately, the goal was to protect existing operations, which highlights Cyprus’ role as a reliable “second base” for companies seeking security and business continuity in geopolitically unstable regions.
In her discussion with Romanyukha, Elena Prochaskova, Managing Director, JetBrains Cyprus, focused on local community engagement and talent development. She said that the company is investing in educational programs to enhance the retention and development of the technological potential on the island. The challenge of the lack of specialised personnel is being addressed through a combination of strategic recruitment and partnerships with educational institutions, she concluded.
(Source: InBusinessNews)
