2020 Cyprus Country Report
The 2020 Cyprus Country Report features in-depth articles on the economy, foreign direct investment, international trade and headquartering as well as detailed sector profiles and insights from Cyprus’ 100 most influential political, economic and business leaders shaping the future of their country and its industries.
The 2020 Cyprus Country Report features in-depth articles on the economy, foreign direct investment, international trade and headquartering as well as detailed sector profiles and insights from Cyprus’ 100 most influential political, economic and business leaders shaping the future of their country and its industries.
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FDI Insights<br />
WHY DID YOU CHOOSE TO<br />
invest in <strong>Cyprus</strong>?<br />
Oxley Planetvision<br />
<strong>Country</strong> of Origin: Singapore<br />
AstroBank<br />
<strong>Country</strong> of Origin: Lebanon<br />
We believe in <strong>Cyprus</strong>, its potential and its future.<br />
We believe in <strong>Cyprus</strong>, as a country, as a promising<br />
economy and as a privileged gateway between the<br />
East and Europe. We are confident that the Cypriot<br />
banking sector in particular, after weathering the<br />
storm, is gradually stabilising and offers interesting<br />
investment opportunities. In addition to that, the<br />
seriousness and commitment of the Central<br />
Bank of <strong>Cyprus</strong> to maintain a solid and supportive<br />
regulatory environment which provides stability and<br />
sustainability was a decisive factor. For us <strong>Cyprus</strong><br />
is a perfect illustration of the saying “never let a<br />
good crisis go to waste”, which means that a crisis<br />
often offers the opportunity to do things you could<br />
not do before. It is this reasoning that made us<br />
invest in <strong>Cyprus</strong> and we look forward to becoming<br />
a channel for others to invest in <strong>Cyprus</strong> as well.<br />
Maurice Sehnaoui<br />
Vice Chairman<br />
AstroBank<br />
We see a renewed vigour and enthusiasm in <strong>Cyprus</strong>, driven by robust economic growth,<br />
political stability, a resurgence in tourism, and a stable and growing financial sector. We<br />
have great confidence in <strong>Cyprus</strong>’ overall economy and its property market. This improved<br />
economic backdrop has encouraged direct foreign investment into <strong>Cyprus</strong> for large-scale<br />
projects and provides a solid platform for future investments. Therefore, the time is<br />
right to invest in Limassol’s future as the country embraces its<br />
evolving role on the international economic scene. As the local<br />
market is experimenting with multi-storey towers, Oxley will<br />
apply its vast international experience to provide Limassol<br />
with a distinguished landmark which will offer a genuinely<br />
new lifestyle experience everyone will want to be part of.<br />
Atterbury Europe<br />
<strong>Country</strong> of Origin: South Africa<br />
There are various reasons for companies<br />
such as Atterbury and Attacq – both<br />
originating from South Africa – to invest<br />
in <strong>Cyprus</strong>. Our recent acquisition of The<br />
Mall of <strong>Cyprus</strong> and The Mall of Engomi<br />
indicates a strong relation between two<br />
countries in different hemispheres. With<br />
both countries former British colonies,<br />
the influence is evident in legal and<br />
land ownership structures that provide<br />
significant common ground. As an added<br />
benefit, investments in <strong>Cyprus</strong> provide<br />
much sought-after exposure to the Euro<br />
currency. Infrastructure is world class and<br />
professional service providers are highly<br />
skilled and reliable in their responsibilities<br />
and communication with clients. There<br />
are lucrative tax benefits for companies<br />
investing in <strong>Cyprus</strong>, making it much<br />
more than a beautiful and culturally<br />
rich destination. From an economical<br />
perspective, <strong>Cyprus</strong> is rapidly recovering<br />
as can be seen in the recent upgraded<br />
credit ratings and positive progress on<br />
various issues that further improve the<br />
reputation of <strong>Cyprus</strong> as an investment<br />
destination on the world stage. We intend<br />
to establish a long-term presence in<br />
<strong>Cyprus</strong> with further investments in our<br />
existing portfolio as well as other<br />
locations on the island.<br />
Raoul de Villiers<br />
Managing Director<br />
Atterbury Europe<br />
Ching Chiat Kwong<br />
Executive Chairman Oxley Holdings Limited,<br />
Oxley Planetvision Properties Ltd<br />
32 <strong>Country</strong> <strong>Report</strong> CYPRUS <strong>2020</strong>