JetBrains selects Cyprus for new hub

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JetBrains, the Czech tech company that develops tools for software developers and project managers, has announced ambitious plans to create a hub in Cyprus.

The company has relocated more than 220 staff members to offices in Paphos and Limassol and hopes to create another 80 jobs.

They join a burgeoning number of tech firms moving to Cyprus, attracted by tax breaks and staff incentives.

“We are very keen to help companies as they scale and grow, and it’s encouraging to see employers such as JetBrains realise that Cyprus gives them the ability to expand further,” said Invest Cyprus CEO George Campanellas.

“The investment by JetBrains is also further evidence that Cyprus is becoming a leading destination for tech companies in the European Union.”

Maxim Shafirov, the CEO of JetBrains, said: “Technology companies are attracted to Cyprus because of the incentives offered, and the overall environment is conducive to growing our operations and clientele.

“We have already relocated more than 220 employees to Cyprus, and our goal is to increase that number to about 300 by the end of the year.

“While such relocation procedures need considerable time to be completed, the support from Invest Cyprus means everything was made much easier, and the transition for the company and its employees has been smooth.”

Campanellas added: “As the national authority responsible for attracting foreign investment and providing certainty to foreign companies operating in Cyprus, we are dedicating all our energy to this mission.

“Despite adverse international conditions, the ICT output exceeded €1.9 bln in 2021, and we are optimistic that it will be even higher by the end of this year.”

Invest Cyprus is the investment promotion agency of the government dedicated to attracting and facilitating foreign direct investment into the country.

Founded in 2000, JetBrains strives to make the strongest, most effective developer tools on earth.

As of 2019, the company had offices in Prague, Saint Petersburg, Moscow, Munich, Boston, Novosibirsk, Amsterdam, Foster City and Marlton, New Jersey.