Doing Business in Cyprus (UAE Edition)
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DOING BUSINESS C YPRUS<br />
20<br />
UNITED ARAB EMIRATES EDITION<br />
<strong>Cyprus</strong> is also work<strong>in</strong>g hard to evolve<br />
as a grow<strong>in</strong>g tech hub <strong>in</strong> the European<br />
Union and a promis<strong>in</strong>g location for hightechnology<br />
bus<strong>in</strong>esses. Well-known<br />
<strong>in</strong>ternational technology companies<br />
such as NCR, Wargam<strong>in</strong>g, eToro and 3CX,<br />
already have established their presence<br />
on the island.<br />
I<strong>Cyprus</strong> is also work<strong>in</strong>g hard<br />
to evolve as a grow<strong>in</strong>g tech<br />
hub <strong>in</strong> the European Union and<br />
a promis<strong>in</strong>g location for hightechnology<br />
bus<strong>in</strong>esses.<br />
Committed to constantly improv<strong>in</strong>g the bus<strong>in</strong>ess environment with an emphasis on<br />
high-tech, research and <strong>in</strong>novation companies, the government provides a number<br />
of <strong>in</strong>centives such as the <strong>Cyprus</strong> Intellectual IP Box Regime, particularly beneficial for<br />
<strong>UAE</strong> high-tech companies, as well as other <strong>in</strong>centives to company shareholders and<br />
their employees. <strong>Cyprus</strong> has also recently launched the <strong>Bus<strong>in</strong>ess</strong> Facilitation Unit,<br />
which provides for fast-track<strong>in</strong>g bus<strong>in</strong>ess setup, and has <strong>in</strong>troduced new residence<br />
and employment policies, aim<strong>in</strong>g towards the attraction of highly skilled third country<br />
nationals and digital nomads. n
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