"We view our decision to expand here as a "vote of confidence" in Cyprus as Europe’s next big tech hub," Vera Khazova, Managing Director, Wrike Cyprus says.
In a recent interview with GOLD magazine, Khazova discusses Cyprus' competitive advantages, also revealing that the Cyprus office has become the fastest-growing location in Wrike's history.
Among other things, the Managing Director, in addition, talks about aligning local and US corporate culture and the advice she would give other US companies considering Cyprus for their operations.
What initially positioned Cyprus as the right strategic choice for Wrike?
We initially identified Cyprus as an excellent location due to its competitive advantages, specifically its robust legal framework, business-friendly environment and strategic location at the crossroads of Europe, Asia and Africa. We also saw immense potential in its high-quality, multilingual talent pool and its growing reputation as an emerging "tech island." Since establishing our presence in 2022, the role of our Cyprus office has evolved rapidly. In fact, it has become the fastest-growing location in our company’s history. What started as a new base has grown into a vital hub housing 150+ professionals – more than 20% of our global workforce. Our Nicosia team is no longer just a satellite office; it is integral to building our platform, covering diverse functions including engineering, marketing, customer support and finance.
Are there specific operational or structural challenges for US companies operating from Cyprus?
For Wrike, Cyprus has proven to be an exceptionally resilient and strategic hub, where the business environment is defined much more by opportunity than by obstacles. We have found that the island’s regulatory frameworks, which are firmly rooted in English Common Law, provide a predictable and secure foundation that aligns seamlessly with US corporate governance standards. Where structural complexities exist, they are increasingly mitigated by the Government’s proactive Business Facilitation Unit, which has streamlined executive mobility and talent relocation, effectively turning potential logistical hurdles into a competitive advantage for staffing. As the local digital infrastructure continues its rapid modernisation, Cyprus stands out not as a challenge to be managed but as a thriving, supportive ecosystem that empowers us to scale our operations and bridge our global teams with confidence.
Do you see Cyprus emerging as a serious alternative to traditional European tech hubs for US companies looking to expand in the area?
We view our decision to expand here as a "vote of confidence" in Cyprus as Europe’s next big tech hub. We believe the island offers a compelling alternative to other investment destinations due to its growing tech ecosystem and the government’s clear strategy to drive innovation. We have found it to be an ideal place to live and work, and we believe our successful expansion serves as proof of the island's economic strength and its ability to serve as a modern entrepreneurial base for US companies.
How do you manage to align local and US corporate culture?
We bridge the gap between our local presence and our US roots by fostering a culture of open communication and shared professional development. We don't view our Cyprus team as separate. We integrate them into our global Wriker community. In Cyprus, we have also created a local company community – Olive Branch – to ensure that the local team has a strong voice that is consistently heard, surfacing local needs and shaping how we engage and support people on the ground. To align cultures, we prioritise direct engagement: we hold monthly all-hands meetings and quarterly in-person "Ask Me Anything" sessions with our US-based CEO, Thomas Scott, ensuring that our local team is directly connected to our strategic vision. Furthermore, we implement global initiatives, such as our mentorship programme and leadership panel series, to ensure that the professional growth opportunities available to our Cyprus employees mirror those available in the US.
What advice would you give other US companies considering Cyprus for their operations?
Drawing from our experience, we would advise a new entrant to prioritize three things: partner early (engage with Invest Cyprus immediately for guidance and support; their partnership was instrumental in our setup); invest in infrastructure by securing a high-quality workspace (like our energy-efficient Class A building) that supports hybrid work and attracts talent; and listen to your people through the implementation of strong feedback mechanisms, such as engagement surveys, right from the start. Much of our success in retaining talent and maturing in the local market has come from listening to our employees and launching programmes like skills matrices and family-support benefits that directly address their needs.
Wrike is a global work management and collaboration platform with headquarters in San Diego, California, providing cloud-based solutions for project management, workflow automation and team productivity. Wrike opened its offices in Nicosia in 2022 and rapidly grew into one of the company's largest (with over 180 employees by late 2024), focusing on engineering, marketing and customer support.
This interview first appeared in the February edition of GOLD magazine. Click here to view it.
