Courting Big Tech and Fintech firms is paying off; as more companies pack their bags to set up shop in Cyprus, Eurisko Mobility, active in digital transformation, announced plans to relocate.
Eurisko Mobility is to initially relocate 20-50 employees from Lebanon but has promising future investment plans for the island.
As confirmed by the company, Eurisko Mobility will launch its new startup ‘Hiverse’ in Cyprus.
Hiverse will offer companies a turnkey collaborative platform to help maintain a healthy organisational structure and boost employee engagement across the board.
Speaking to EUReporter, CEO of Eurisko Mobility, Edgard Hanna Tawk, said Cyprus has a lot to offer companies on the lookout for bridges to the European markets.
“Cyprus is a beautiful island with a stable and promising economy.
“It is a short distance from Lebanon, where most of our engineers are based and offers a great portal for entry into the European market as well as attracting new talent,” said Tawk.
Eurisko Mobility believes Cyprus will become a key tech hub in the region, bolstered by government entities like Invest Cyprus working on accommodating companies to move to the island.
“We were also pleased with the Fast Track mechanism that allowed us to move team members swiftly and smoothly.
“This support was one of the main reasons we were excited to expand to Cyprus.”
Invest Cyprus, the state agency spearheading efforts to attract foreign investment, welcomed Eurisko Mobility’s choice to build a new hub.
In comments to the Financial Mirror, Invest Cyprus deputy Director-General Marios Tanousis said Eurisko Mobility’s decision reflected Cyprus’ growing status as a tech destination in Europe and its economic resilience during the pandemic.
Invest Cyprus launched a five-year action plan in 2019 focusing on Tech and Fintech companies and their executives.
Eurisko is present in Lebanon, Saudi Arabia, Kuwait, UAE, and United States and is known for designing digital transformation strategies for businesses.
It is also active in IOS and Android Mobile application developments and computer games.
The firm is also active in the FinTech sector spanning from Mobile Banking, Internet Banking to Artificial Intelligence, Personal Finance Management & Real-time FX Trading.
“We hope this is another steppingstone to promote our country as an ideal destination for ICT companies, helping the digitalisation process in Cyprus,” said Tanousis.
“We are confident the recently announced governmental strategy to attract more international companies to the country increases Cyprus’ attractiveness and lays the ground for further development.
“Benefits for the Cypriot economy are significant and horizontal and include an increase in the tax base, an increase in consumption and indirect taxes, support for the professional services and real estate sectors, and the creation of new jobs.
“To do this, we needed to spend time and energy on setting up an effective campaign marketing Cyprus as an ideal place for third-country companies to set up headquarters or an alternative EU base.”
Eurisko is one of many Big Tech companies that recently relocated to Cyprus, such as Paris-based Murex, a leading European software producer in trading, treasury, risk, and post-trade operations for financial markets.
Other major international ICT firms operating in Cyprus include NCR, Amdocs, Wargaming, eToro, and 3CX.