Investing in Tech: CYPRUS
Wednesday 3 September | Stage 5
Organized and Sponsored by KENDRIS Cyprus
Introduction
Cyprus has seen rapid growth in terms of attracting talent and capital to its tech ecosystem. Thanks to consistent, long-term effort of public authorities as well as private associations and organisations, the gross value-added of the technology sector in Cyprus reached approximately 10% of GDP in 2023, and expectations for higher growth are being confirmed. Under the Cyprus Investment Promotion Authority and now Invest in Cyprus, efforts have been made to attract tech companies to set up headquarters units in Cyprus. Together with a historically-favourable approach to foreign investors, this has resulted in some major names being established or relocated there, including Wargaming, Exness, e-Toro, XM, Palta and others. In addition, the domestic tech ecosystem has been growing rapidly, supported by grants from the Research and Innovation Foundation of Cyprus, various EU programmes as well as an emerging business angel and venture capital ecosystem in Cyprus. The country is a strong candidate for acting as an EU holding company for startups and scaleups seeking to expand into Europe, as well as existing groups.
Welcome to the Session
Ambassador of Cyprus to Greece
Director of KENDRIS Cyprus
Session 1: Tax Incentives & Legal Structure
This session will present the current options for legal structures for investing in Cyprus; tax incentives for companies and investors; and the visa regime and incentives for Cyprus. The presenters will include highly experienced tax and legal specialists active in Cyprus.
Session 2: Case Studies and Best Practise
This session will provide case studies and examples of best practise in terms of investing in Cyprus. These serve to illustrate the practise strengths (and potential weaknesses) for investing in Cyprus, and allow the audience members to ask questions from practitioners in the field.
Conclusions