2020 Cyprus Country Report

HQ Insights
WHY DID YOU CHOOSE
CYPRUS?
NCR has been doing business
in Cyprus for 64 years, and
we have been a significant
contributor to the Cyprus
economy and the evolution
of the local IT industry.
Cyprus is an excellent host
for our investments and our
headquarters for the Middle
East and Africa region. We
have always maintained
a significant share of the
IT market in Cyprus in the
sectors of retail, banking,
and government. There are
many reasons why NCR has
been investing in Cyprus
for decades. The country’s
high number of IT-educated
people from top universities
allows us to find young
high-flyers and turn them
into revenue generating
professionals for NCR. The
strong financial sector and
upgraded airports and ports
support our financial needs
and we can easily import
our products – also our
executives can travel with
ease. Last, but not least,
Cyprus is one of the safest
countries in Europe, with
low crime rates, and less
effort and cost to ensure the
wellbeing of our employees.
Kyriakos Kyriakou
General Manager,
NCR Cyprus Ltd
In July 2017, SYKES
opened a new
service delivery
facility in Larnaca
as the result
of conducting
a thorough
investigation and
due diligence
looking at about
20 locations in
southern Europe.
SYKES Cyprus
operation has
augmented and
strengthened
its multilingual
customer
engagement
capabilities.
Given the growth
opportunities
in certain key language segments of the EMEA
market, Larnaca is well situated geographically and
serves as an optimal place for commerce given its
diverse multilingual human capital talent pool and
its competitive operating model. Worth mentioning
that the Cyprus investment promotion agency Invest
Cyprus provided us with remarkable proactive
support in getting this effort off the ground.
Christian Schaffer
Senior Vice President
SYKES Central & Northern EMEA
Amdocs is a leading provider of software and services
for communications and media companies with 25,000
employees serving customers in 85 countries. Our
development centre in Cyprus opened more than 20
years ago and is a strategic centre for the company
and the European HQ of corporate services such as
finance and learning. The centre has continuously
employed a highly skilled, multinational workforce,
offering a variety of languages and cultures onsite,
empowering great communication at ease. In addition
to its excellent education infrastructure, there are
numerous advantages for foreign companies to
establish presence in Cyprus. The island offers
quality of life and climate, a welcoming social
environment for expats, and is a safe destination
for our employees and their families due to the low
crime rate and political stability. English is widely
spoken and there is a good immigration process and
support system for emerging country nationals.
Yiannis Tinis
Head of amdocs Cyprus
Cyprus combines numerous advantages as a
business base with quality of life. Our decision
made good business sense and we remain
committed to the country, having relocated a
large number of our top executive employees
and invested in a local bank and property.
Cyprus’ geographical location allows us to serve
our operations in Europe, Asia, the CIS region
and US, while retaining a significant presence
in Belarus, where half of our employees are
based. Cyprus’ business advantages include
political stability, EU membership, and a free
market economy with a favourable tax regime, a
modern and transparent legal and tax framework
and a highly developed professional services
sector. The infrastructure and communications
network is well developed, while the workforce
is highly educated and multilingual. Cyprus
is welcoming to international business and
recently enacted reforms and offered additional
incentives to attract foreign investment. The
excellent living conditions, including the climate
and low crime rate, are also an important factor.
Victor Kislyi
CEO - Wargaming.net
40 Country Report CYPRUS 2020