2020 Cyprus Country Report

Melco International
Country of Origin: Hong Kong
Cyprus is an ideal location for Melco’s initial plans for expansion
beyond Asia. It is a fitting site for what will become Europe’s
largest integrated casino resort, ‘City of Dreams Mediterranean’.
Cyprus is the only jurisdiction in the region to have successfully
passed legislation and complete a transparent RFP for a largescale
integrated resort; and has a great history of implementing
the rule of law. Furthermore, Cyprus’ location, with its proximity
to Europe, the Middle East, and Africa is hugely appealing.
Developments in infrastructure and hospitality means Cyprus
has huge potential for tourism expansion. Our investment of
€550 million for the integrated casino resort project aims to
create a unique world-class development, which will support
important advances to Cyprus’ economy and touristic product.
UCLan Cyprus
Country of Origin: United Kingdom
The University of Central Lancashire (UCLan), the fourth
largest University in the UK, through its strategy of developing
educational satellites around the globe, showed strong
interest in choosing Cyprus as the first step in expanding
its presence, primarily due to the geopolitical position and
large local demand for UK higher education in Cyprus.
After researching the best location for their branch campus
and the local procedures for setting up a University,
UCLan chose Larnaca as the ideal strategic location to
establish the first British university on the island.
Floros Voniatis
CEO - Chair of the Council - Founding Partner
UCLan Cyprus
M.M. Makronisos Ltd
(Ayia Napa Marina)
Country of Origin: Egypt
We invested in Cyprus right after its
financial crisis of 2013, as we saw it
as a big opportunity, it could only go
upwards. This, coupled with one of
the most attractive and transparent
tax systems in Europe, which is
fully compliant with EU laws and
regulations, as well as a modern and
business-friendly legal system, have
proven Cyprus to be an attractive
destination for a foreign investor
interested in Europe. Our experience
as investors in Cyprus has been
very positive. The government and
authorities are welcoming and don't
spare any efforts to facilitate hurdles
faced by foreign investors, and have
been efficient in providing necessary
permits for our project. The Cyprus
Permanent Residency Programme
is a great incentive for foreigners to
invest in real estate and is helping
to create a big opportunity for us to
develop a huge project like Ayia Napa
Marina, which we envisage to change
the face of the Cypriot coastline and
become the best luxury destination in
the Eastern Mediterranean. Finally, I
am very happy to acknowledge that
construction is progressing very
well, with the Marina being in full
operation since June of 2020 and the
Commercial Area will welcome the
first guests in the Summer of 2021.
FDI Insights
Lawrence Ho
Chairman and CEO - Melco International
Naguib Sawiris
Chairman
M.M. Makronisos Ltd.
Monaco Telecom
Country of Origin: Monaco
Cyprus was our destination of choice. It is one of the most
dynamic economies inside the EU, providing a stable and
clear regulation, and promoting open competition. Monaco
Telecom is building a Group of independent operators in
the European Mediterranean environment with Cyprus,
Malta and Monaco as its major geographies. Our two
shareholders, the Government of Monaco and French
entrepreneur Xavier Niel share a long-term view to provide
high end and innovative telecommunication services at
great value. We have invested here two years ago and we
are very proud of the growth and progress of Epic. It is
now recognised as the best mobile network in the country
and it is attracting more and more customers. We are
now focused on building a high-quality fiber to the home
network to provide a full range of services, at home and
everywhere. We really feel privileged to operate in Cyprus.
Martin Peronnet
CEO
Monaco Telecom
Country Report CYPRUS 2020 33