London Loves Business: Established businesses look to Limassol for headquarter relocation touted as ‘Europe’s New Rivera’
Amidst the post-Covid landscape, companies are weighing up moves to Cyprus as the benefits of doing business across three continents make for an attractive relocation. According to Leptos Estates there has been a three-fold increase in firms physically setting up new offices from countries such as Israel, UK, and India in Cyprus over the last six months.
Limassol is the second largest city in Cyprus but is particularly renowned for its entrepreneurship with many firms in the service, financial, technology and healthcare sectors flourishing. Many UK-based businesses are considering relocation of their headquarters or business activities from the UK to Cyprus due to better deals since Brexit. Cyprus offers competitive advantages in terms of attracting UK-based companies wishing to maintain close business ties within the European Union.
The introduction of the Fast Track Business Activation Mechanism, the employment of third-country nationals, work permits for spouses, huge savings on Corporate & Personal Taxes, access to EU markets and digital nomad visas are all attracting international firms to this uniquely connected and positioned country.
Businesses can take advantage of the office space at Limassol Blu Marine, a development in the heart of Limassol, destined to be a world-renowned address for investors to work, live and play. It is the only development in Limassol that gives companies the option to open offices and residences in one location. The development is creating a new prime location for the city and is part of a wider master plan that will see over 1.5km of multimillion pound infrastructure investment, rivalling the regeneration of the French Riviera.
Pantelis Leptos, Co-President of Leptos Group of Companies, said,“Limassol offers a robust environment for business, a diverse workforce and is a strong international centre of business with links to the UK, Middle East and Western Europe.
“We offer a one-stop shop solution to make business relocation painless and can assist throughout with all necessary permits and operational needs.
“At Limassol Blu Marine we offer not only brand new office space looking out over the Mediterranean Sea, but also high quality apartments for employers and their employees to rent or buy.” It is in the ‘centre of everything’ and is now touted as ‘Europe’s New Rivera”
Cyprus accounts close to €10 billion worth of exports per year and the island offers the lowest corporate tax in the EU with a basic rate of 12.5%. Add to this the fact English is widely spoken with 76% of Cypriots being fluent and that the country is ranked 5 in the world for safety, it is no wonder Cyprus is becoming more favourable for firms to house their headquarters.
Buyers from the UK, Russia, Middle East and the Far East are being enticed by the cosmopolitan island that offers 300 days of sunshine and a permanent residency programme that allow for longer movement across the EU, post-Brexit.
The new neighbourhood of Aktaia Odos has been master-planned with state of the art residential and commercial properties, mixed with attractive tourism and leisure options that sit in green spaces, with bicycle lanes and pedestrian walkways. The area, in accordance with the strategy of CIPA (Cyprus Investment and Promotion Agency) is set to become a hub for international headquarters with some 14,000 new jobs being created.
Limassol enjoys a vibrant shopping district, nightlife and an array of cafes, bars and clubs to cater to all tastes. With a superyacht marina, A brand new cruise & ferry terminal, the largest CASINO IN Europe opening its doors soon and Golf courses, Limassol Marina to rival the best in Europe, alongside historical sites and the backdrop of nearby snow clad & ski resort of the Troodos Mountains.
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