Insider Business Invest Cyprus eyes Southeast Asia because of Brexit

Invest Cyprus eyes Southeast Asia because of Brexit

With Brexit insecurity rising by the day, Invest Cyprus have launched a campaign to attract investment from far away but promising economy countries from Southeast Asia, informed sources told Insider.

That’s why after the recent visit to Hong Kong by Invest Cyprus representatives accompanied by a business delegation they are now getting ready to explore Singapore as well as Malaysia, Vietnam and Indonesia.

The Cypriot mission sees tremendous investment opportunities from these countries which, up to now, they all had the United Kingdom as their gateway to the European Union, an Invest Cyprus official told Insider.

However, with the UK leaving the EU there is now a window of opportunity for Cyprus to attract investors from these countries. The strongest incentive the Mediterranean island has is that Cyprus is governed by English law which is clearly more attractive to entrepreneurs from these countries in comparison with other European countries.

What Invest Cyprus primarily want and seek to attract are  investment funds as well as the transfer of corporate headquarters to Cyprus, the same official also said.

“We emphasize that technology companies can only benefit from the friendly investment environment of Cyprus on the one hand and for Cyprus, itself, to benefit from the know-how transfer,” the official added.

Other  advantages Cyprus offers to potential investors are its low tax rates and low cost of living compared to other European cities such as Dublin and Luxembourg.

 

Read more:

https://in-cyprus.com/invest-cyprus-promotes-cyprus-film-industry-at-berlinale/

 

 

 

Top Stories

Medical students volunteer to supervise implementation of measures

The Health Ministry will proceed with carrying out rapid tests to the employees (weekly) and the residents (monthly) of old people’s homes, rehabilitation centers...

Metropolitan Isaias refuses to recognize Metropolitan of Kiev and Ukraine

Metropolitan Isaias of Tamasos and Orini says he refuses to recognize anyone else as the Metropolitan of Kiev and Ukraine. In a memo, Metropolitan Isaias...

Another two confirmed cases of COVID-19 in Rizokarpasso

Another two confirmed cases of COVID-19 have been found in Rizokarpasso yesterday. According to Presidential Commissioner Fotis Fotiou, the two are the children of a...

SPAVO Helpline sees a 40% increase in calls in 2020 due to pandemic

SPAVO, the Association for the Prevention and Handling of Violence in the Family, has seen an increase of 40% in the calls it received...

Elementary school suspends operation due to asphalt plant

Students of the Third Elementary School of Idalion will abstain from their lessons for three days with the prospect of escalating the measures indefinitely...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...