Economic and political 'swings' in some countries are forcing entrepreneurs to move their businesses to more stable jurisdictions. One of the most popular destinations today is Cyprus.
The island state has been attracting foreigners for many years with favourable and very attractive conditions. In particular, Cyprus offers tax incentives for companies, including low tax rates on profits, dividends and capital contributions. As a result, some people are actively moving their offices to Nicosia, but the majority still choose Limassol. Interestingly, it is in this city of Cyprus that the largest foreign companies are based today. Among the most famous are:
- Wargaming - one of the largest video game development companies, known for the game World of Tanks. One of the company's offices is in Limassol.
- Amdocs - multinational software, telecommunications and media services company. Amdocs has a large office in Limassol.
- Exness - one of the largest financial services and foreign exchange trading companies with a significant presence in Limassol.
- FxPro - another major financial services and foreign exchange trading company based in Limassol.
- Murex - provides financial risk and transaction management software and has an office in Limassol.
- Betway - major online gambling and betting company with a presence in Limassol.
- IQ Option - large company offering trading platforms for various financial products including cryptocurrencies.
In recent years, Limassol has also become an attractive location for many multinational companies.
This is mainly due to its favourable tax legislation, high level of infrastructure and strategic location in the Eastern Mediterranean. In particular, it is home to
- Pfizer - the global pharmaceutical company has offices and a factory in Limassol.
- Nexters - video game development company that has moved most of its operations to Limassol.
- Orbex - another foreign exchange and financial services company based in Limassol.
- IronFX - one of the largest foreign exchange trading companies with a significant presence in Limassol.
- PrimeTel - one of the largest telecommunications companies in Cyprus with a significant presence in Limassol and working closely with foreign companies.
- Tototheo Maritime - a maritime and satellite communications company working with many international shipping companies.
- MetaQuotes Software - producer of software for trading platforms such as MetaTrader, based in Limassol.
- Alvexo - trading services company with a large office in Limassol.
- SafeCharge - payment technology company with a strong presence in Limassol.
- Thomson Reuters - The company provides information and data on financial markets.