Paphos, a city with a population of 90,000, is located in the western part of the island, it is believed to be the birthplace of Aphrodite, according to Greek Mythology. Bordering Nicosia District to the northeast and Limassol District to the southeast, Paphos holds UNESCO World Heritage Site status, adding architectural and historical value to its rich offerings.
Over the years, Paphos has transformed from a vacation resort into a modern entrepreneurial powerhouse, especially attracting gaming, fintech, and tech companies.
Intellectual Property – IP Box Regime for Gaming & Tech Companies:
Cyprus is considered one of the most tax-efficient jurisdictions in Europe for holding IP assets, making it a prime choice for companies to establish their base and headquarters.
Startup Ecosystem and Fintech Momentum:
Paphos is experiencing a surge in its startup ecosystem, witnessing the establishment of businesses in Software & Data, Fintech, Game Dev and Edtech sectors. This strategic approach of attracting foreign companies has led to a thriving technology cluster, significantly contributing to the country’s GDP.
As video games continue to be a crucial part of the global entertainment industry, Cyprus, particularly Paphos and Limassol, remains an attractive destination for major international businesses establishing their regional headquarters.
In addition, as digital banking becomes the norm, the fintech sector in Paphos is fast becoming the center stage for innovative payment solution organisations, payment gateways and electronic money institutions.
Easy to Obtain Work Permits:
For innovative sectors such as gaming, fintech and tech companies, acquiring work permits is a straightforward process, attracting appropriate and talented personnel with generous tax incentives for foreign individuals.
Cyprus offers a unique tax structure, providing a 50% tax-free income for employees earning more than €55,000, applicable for 17 years under specific conditions. Additional incentives are available for those earning less than €55,000 and non-domiciled individuals, attracting a high-skilled workforce in Cyprus.
Paphos: For Business:
Paphos offers a strategic location, featuring a port for cargo shipments and an international airport, secondary to the island’s Larnaca International airport. The city’s advantages, including a low cost of living, low crime rates, beautiful landscapes, and a high quality of life, make it an appealing destination for foreign companies, digital nomads and career opportunities.
Emerald Zebra: Your Career Partner in Cyprus:
With over 20 years of recruitment experience in Cyprus, the Emerald Zebra team stands ready to assist Cypriots and international professionals in finding their next career moves.
Whether you’re seeking job opportunities or contemplating relocating to Cyprus, join our talent pool by sending your CV to jobs@emeraldzebra.cy
Stay informed about the latest job openings on this wonderful island, whether you’re looking for flexible, remote, or hybrid employment.
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