Cyprus enabled multinational software company JetBrains to establish operations and relocate employees rapidly, but faster administrative procedures and improved international connectivity are needed to strengthen the island’s position as a global technology hub, according to Elena Prohaskova, the company’s Managing Director.
Speaking at INSPIRE 2026, Prohaskova said Cyprus had outperformed other locations when JetBrains was establishing new operations in 2022, noting: “Cyprus was just (operating on) fast forward. You knew what to do, you did it, and there was a result.”
She was addressing the audience as part of a panel discussion entitled, ‘Tech Without Borders: Turning Cyprus into a Global Technology and Innovation Hub’ on the Beyond Borders Stage, which was moderated by Marios Eleftheriou, General Manager & Board Member, Life Realty & Invest Cyprus.
JetBrains’ establishment in Cyprus
Prohaskova explained that she joined JetBrains 15 years ago, initially working in Prague, before the company began reassessing its international presence in 2022 in response to the changing geopolitical landscape.
As part of this process, JetBrains opened new locations and closed others. Cyprus was among the new locations selected, and the company established its operations on the island from scratch.
Today, JetBrains has 330 people in Cyprus and has developed a successful collaboration with a local university. Prohaskova described the project as a success, highlighting the speed with which the company was able to establish itself.
She said: “Cyprus was just (operating on) fast forward. You knew what to do, you did it, and there was a result.”
She added that the company was set up quickly, with its first group of employees and their families arriving on a charter flight shortly after the company was formally established, noting, “We were able to accommodate them. We were able to employ them.”
Although some aspects of entering a new country had been difficult to anticipate, she said the company was able to find solutions and move forward. Overall, she described the experience as very positive.
Administrative procedures and the introduction of new policies
While praising Cyprus’s performance, Prohaskova acknowledged that establishing operations in a new country inevitably involved unforeseen challenges.
She also pointed to the difficulties that can arise when new policies are introduced, citing Blue Cards as an example. Implementation can create friction when procedures are new, frameworks are still developing or authorities are uncertain about how to respond, the Managing Director pointed out.
Nevertheless, she said the overall process continued to progress, albeit at different speeds.
Her comments reflected a generally positive assessment of Cyprus’s business environment, alongside recognition that the implementation of new measures can require time and adjustment.
International recruitment and the importance of company culture
Prohaskova also said technology companies increasingly recruit internationally rather than restricting their search for employees to a particular city or country. Skilled professionals may be based in Cyprus, Poland, the United Kingdom or Latin America, making it possible to recruit the right person regardless of location.
However, managing internationally distributed teams creates challenges, particularly when employees work across different time zones and cultural backgrounds.
She stressed the importance of building a shared company culture that brings employees together around common values, saying, “You need to create this additional culture on top of their cultures, make them believe in it.”
She emphasised that this process requires sustained effort from the entire organisation, beginning with senior management. Technology can facilitate collaboration through shared documents, project management tools and video conferencing, but it cannot entirely replace personal interaction.
“We all, I think, agree today that it's not enough, and human interaction is still important,” Prohaskova underlined.
JetBrains therefore invests in gatherings that combine work with social activities, giving employees opportunities to interact beyond their day-to-day responsibilities. Prohaskova believes that sharing meals and discussing non-work-related topics helps colleagues work together more effectively.
She summarised the approach as follows: “I think the best model today is a mixture of these technologies, which give you effectiveness every day in your routine or technologies plus this intentional human interaction.”
International expansion and Cyprus’s connectivity challenges
Prohaskova said technology companies generally need to operate internationally from the outset if they are to achieve sufficient scale and profitability.
For Cyprus, she identified two significant challenges: scaling operations quickly and maintaining physical connectivity with international markets.
Because technology companies recruit internationally and develop relationships with overseas customers and investors, their employees often need to travel to major business centres and return quickly. Cyprus’s island geography means that air travel is essential, with no alternative road or rail connections to other countries.
She said travel times, flight availability and the time required to reach major business centres can make international operations more difficult.
Prohaskova welcomed the development of a new airport terminal in Larnaca, describing it as a positive response to the need for better connectivity. More flights, she said, would make it easier for businesses to operate internationally.
She also acknowledged that not every factor affecting connectivity is within Cyprus’s control, citing geopolitical developments and fuel prices as examples.
Faster administrative processes are essential for growth
When asked what single practical change would most help Cyprus attract technology talent and investment, Prohaskova initially considered public transport but ultimately focused on the speed of administrative procedures.
She argued that permits, licences and other public services need to be processed more quickly if Cyprus is to meet the expectations of international businesses.
In her view, the challenge is not necessarily a lack of willingness among local authorities, but potentially insufficient staffing and preparedness to implement decisions at the required pace.
She explained that national strategies need to be supported by effective implementation at the local level, noting, “The strategy has to be... supported by proper implementation, by fast implementation.”
She added that local authorities may currently be understaffed or unprepared to accommodate the pace at which technology companies operate and expect services to be delivered.
Prohaskova concluded that faster administrative processes would also help facilitate improvements in other areas, including public transport, underlining, “If we have local authorities working faster in everything, including permits, including licenses, then public transport will happen very soon.”
Strategic Partner: CYTA Business
Platinum Sponsor: Bank of Cyprus
Innovation Partner: Ίδρυμα Έρευνας και Καινοτομίας/Research and Innovation Foundation
Gold Sponsors: Cyfield Group, Zorbas Group
Silver Sponsors: Bioland Energy, Petrolina (Holdings) Public Ltd
Stage Sponsors: Invest Cyprus - CIPA , KPMG Cyprus, National Bank of Greece, Odyssey Cybersecurity
Academic Partner: University of Nicosia
Mobility Partner: Pilakoutas Group
Sustainability Partner: Electricity Authority of Cyprus
Hospitality Sponsor: Hilton Nicosia
Sponsor: IMR/UNIVERSITY OF NICOSIA , Αρχή Ανάπτυξης Ανθρώπινου Δυναμικού - Human Resource Development Authority of Cyprus, Henry’s by Columbia, 33East
Panel Sponsor: Allwyn Cyprus
Technology Sponsor: Abasis.AI
Wellbeing Partner: wayfitco.
Supporting Organisations: National Betting Authority , SkillsCyprus
Exhibitors: drastyc, Emphasys Centre, Giorgio Armani, Factorial ,GrantXpert Consulting Ltd, onlyseo., Photos Photiades Breweries ,Wolt, Bank of Cyprus Nicosia Marathon
Supporters: Cloud Office,CP Herbal Skin Care, Farm Wisely Cyprus, Chr. Kapodistrias & Sons Ltd, Superhome Center, Alphamega Hypermarkets
Mimajo Healthy Snacks Ltd, Robura Asset Management, University of Limassol, Voici la Mode Group of Companies
With the Support of: Cyprus Computer Society, CITEA, CCCI, CPMA, OEB, Youth Board of Cyprus,TechIsland, StudentLife Academy, CSR Cyprus
Communication Sponsors: SuperFM, REPORTER, IN Business, Cyprus Business News, Alpha TV
Organiser: IMH
Under the Auspices: Nicosia Municipality
