The office in Cyprus
Location: Nicosia, Cyprus
Office Jurisdictions: Middle East, Russia, Greece, Cyprus
Managing Director: Marios Chiromerides
Legal Entity: Connecor Investments (Cyprus) Limited
Established Since: September 2013
Industries Covered: Agriculture, CT, Distribution, Food, IT, Manufacturing, Oil & Gas, Real Estate, Services, Tourism
Services Offered: Full Range
At a glance
Cyprus is the south eastern frontier of the European Union, and a connecting bridge between three important continents, Europe, Asia and Africa. Due to its strategic location, Cyprus has always been a significant trading and business centre in the world, with investment to and from Europe, the Middle East and Eastern European countries.
The Cyprus Problem remains to date the biggest challenge after the invasion of Cyprus by Turkey in 1974 and the division of Cyprus by force, with the military occupation of one third of the island in the north. The reunification of Cyprus remains an opportunity to spur growth further in the future, and political parties are working towards that direction on the basis of UN Security Council Resolutions.
The Republic of Cyprus joined the EU in 2004 and the Eurozone in 2008. It enjoys a highly educated workforce, a favourable tax regime, a large number of double taxation treaties, very good professional services and excellent infrastructure. It enjoys high standard of living, a pleasant climate and topography, democracy, an effective legal system, stability and transparency, and is the safest country in the region. The native language is Greek, whereas English is widely spoken, and there is an increasing international population inhabiting the island. The Common Law legal system is in place.
The Cypriot services sector combines a global perspective with a diverse spectrum of high-demand services. It supports every aspect of business from accounting, to banking, to legal services, insurance, travel and tourism, international business services, finance, telecommunications, IT, education, shipping, healthcare, real estate, construction, conference and exhibition services and many more.
Having enjoyed decades of uninterrupted growth, Cyprus faced serious problems in March 2013 as it became the fifth member of the EU to request a package of financial assistance. The country captured the world’s attention as it fought back to avoid bankruptcy, with intense negotiations with international lenders, whilst at the same time it was going through the process of elections and a new Government coming in office.
With financial assistance secured and a new reforming Government in place giving new incentives to spur growth, as well as significant measures taken to reinforce the banking system, and important restructuring reforms and austerity measures in the administration sector; Cyprus is turning the crisis into an opportunity. The small, resilient, adaptable economy, can recover much faster than bigger economies, with Cyprus already passing the first stress tests.
Cyprus remains a significant international business centre attracting new investments despite other predictions. The future of hydrocarbons with a new oil and gas industry developing is bright and it will not take long before the economy flourishes. With multi-million euro agreements already signed with Italian, South Korean and French energy giants for the exploration of the vast hydrocarbons reserves identified in the Cyprus Exclusive Economic Zone (EEZ), there is a reason for optimism and an increasing interest to invest in the energy sector and auxiliary services.
The newly formed Connecor Cyprus office is creating a quality portfolio of SMEs and Asset client listings that engage, promote and sell in Cyprus, the Middle East, Russia and Greece. Furthermore, our regional focus allows us to extend our lists of interested buyers and enables us to create specific business search engagements for them.
Through strong branding awareness, we aim to position Connecor as one of the leading intermediaries for SME transactions in our region by utilizing our international network of offices and associates. Our global presence will allow us to identify opportunities in a variety of markets. By doing so, we hope to contribute, in our own way, in restarting the Economy and ensuring that Cyprus maintains a strong position on the business map.
15 Dimitriou Karatasou Str,
Anastasio Building 6th Floor, Office 601
Tel: +357 22504200
Fax: +357 22504201