More than 200 representatives of the business, investment and financial world participated in the 8th Cyprus-Israel Business & Investment Summit , organized by IMH in Tel Aviv on Tuesday, October 20. Cyprus highlighted its role as a European base for Israeli businesses, with an emphasis on investment, financial services, technology, company relocation and the real estate market.
The conference, organized by IMH, served as a meeting point for entrepreneurs, investors and representatives of the financial sector, focusing on cooperation opportunities between the two countries and the potential of Cyprus to function as a base for businesses seeking access to the European market.
The speakers' interventions and panel discussions covered a wide range of topics, from bilateral relations and the banking system to technology, taxation, business relocation and real estate investments.
Bilateral relations and Cyprus as a gateway to Europe
The Ambassador of the Republic of Cyprus to Israel, Kornelios S. Korneliou, referred to the importance of Cyprus-Israel relations, highlighting the strong ties between the two countries in sectors such as business services, technology, tourism, energy and investment. He made particular reference to the prospects for cooperation in research and development, innovation and joint business initiatives, as well as the importance of enhancing tax certainty for cross-border investments.
Invest Cyprus CEO Marios Tannousis presented Cyprus as a strategic gateway for Israeli businesses seeking to expand into the European Union. He linked the prospects of attracting companies and investments to the country’s goal, through Vision 2035, to become one of the best places to live, work and do business.
On the financial side, Stephanos Kassianides, Senior General Manager of Eurobank Limited, highlighted Cyprus’ role as a bridge for investments to Europe, while confirming that Eurobank is considering opening a representative office in Israel. He also referred to the opportunities created by the India-Middle East-Europe (IMEC) Economic Corridor for regional cooperation.
The message from the Cyprus Securities & Exchange Commission
Through a videotaped intervention, the Chairman of the Cyprus Securities and Exchange Commission, George Karatzias, underlined the importance of cooperation with the Israel Securities Authority and international supervisory coordination in an environment of increasing market interconnection.
He referred to the changes brought about by artificial intelligence, digital assets and new technologies, as well as the European MiCA and DORA regulations on cryptocurrencies and digital business resilience. He stressed that effective supervision must support innovation, while safeguarding investor protection, market stability and trust.
Banks and services to international clients
In the panel "The Financial Services Sector of Cyprus", George Charalambous, Chief International Banking Officer at Alpha Bank Cyprus; Panayiotis Chrysostomou, Manager, Banking Services & Representative Offices at Eurobank Limited; and Marina Timotheou Rossou, Manager, International Business Unit, Larnaca and Famagusta, at Bank of Cyprus, presented the capabilities of the Cypriot banking system to serve international businesses and investors.
Particular emphasis was placed on the banks’ specialized services for Israeli companies wishing to establish themselves in Cyprus or expand into the European market. These services include solutions for businesses and investors, wealth management and private banking, as well as practical support for executives and families relocating to the country. At the same time, the possibilities for cooperation in sectors such as technology, trade and land development were highlighted.
Business relocation and tax advantages
The panel "Doing Business in Cyprus: Corporate Relocation and Headquartering – Establishing your Base in the European Union" focused on the conditions for establishing companies in Cyprus and the tools that international businesses and investors can utilize.
Iva Angelova, Tax Director in Tax Advisory at PwC Cyprus; George Kallinikou, Director at Nobel Trust Ltd; and George Panayiotou, Executive Director at K. Treppides & Co Ltd., analyzed the tax and legal framework, the Non-Dom regime, Cypriot trusts and estate planning. They also presented the procedures for the establishment of representative offices or head offices, as well as issues related to licensing and the relocation of executives and their families.
Technology, innovation and startups
The potential of Cyprus as a technology hub was highlighted by Tanya Romanyukha, General Manager of TechIsland, in the presentation "Cyprus: A Rising Technology, Start Up and Innovation Hub".
According to the data she presented, the technology sector accounts for 16% of Cyprus' GDP and is associated with approximately 79,000 jobs. She referred to the development of the startup ecosystem, research and development, incentives for technology companies and the intellectual property regime. For Israeli businesses, access to the European market, the specialized human resources and the quality of life offered by Cyprus are of particular importance. At the same time, she highlighted the role of TechIsland as an interlocutor of the technology community with the Government and decision-making centers.
Real Estate: Investments, returns and quality of life
In the real estate sector, George Chrysochos, Executive Director of CYFIELD, presented the topic “Cyprus Real Estate: A Strategic Investment Opportunity”, focusing on the investment prospects of the Cypriot market. He referred to the rise in prices and rental yields, both in residential and commercial properties, with particular emphasis on Nicosia, where the presence of international companies is boosting demand for professional spaces.
In the panel “ Investing in Property / Real Estate in Cyprus ”, Arina Rada, Head of Partner Relations at bbf:, and Kostas Soteriou, Chief Executive Officer of DOMO, examined the different categories of foreign buyers. As they stated, some are mainly interested in investments and others are looking for properties for residence, vacation or housing for their businesses and employees.
Particular mention was made of the interest from Israel, where the existence of large communities living and working in Cyprus strengthens the connection with the local market. The speakers also highlighted the quality of life in Limassol, Larnaca and Paphos, the development of both luxury real estate and more comfortable living options, as well as the different investment prospects in residential and commercial real estate.
A forum for the next business opportunities
The 8th Cyprus-Israel Business & Investment Summit highlighted the breadth of fields in which cooperation between Cyprus and Israel can be strengthened, from financial services and technology to business relocation and real estate investments.
The importance of the conference lies in the practical connection of the two business communities and in highlighting specific opportunities for investment, expansion of activities and long-term collaborations. For Cyprus, attracting international businesses, capital and specialized human resources is an important factor in strengthening its economic development and international business position.
Sponsors
The summit is being held in collaboration with Invest Cyprus.
Platinum sponsor: Eurobank
Sponsors: Alpha Bank Cyprus, Bank of Cyprus, bbf:, CYFIELD, DOMO, PwC Cyprus, K. Treppides & Co Ltd
Exhibitors: Aristo Developers, City of Dreams Mediterranean, D. Zavos Group, St. Chara Developers
Supporters: Nobel Trust, Ioannides Demetriou LLC
Media sponsors: CBN (Cyprus Business News), GOLD, IN Business
Organiser: IMH
(Source: InBusinessNews)
