02.08.2022
PwC Cyprus said on Monday that its dedicated Headquarters Seminar titled “Cyprus Headquarters: Why and How” generated a lot of interest.
The workshop, which took place on 28 July, included presentations and insights from numerous PwC staff in Cyprus.
“Indeed, hundreds of CEOs of international companies based in Cyprus or considering doing so have attended in-depth insight presentations from PwC Cyprus CEOs on the key issues that international companies consider when choosing a new headquarters location or setting up a new business base ,” the company said in a statement.
The agenda included an analysis of issues such as the tax advantages offered by Cyprus, the legal framework for business, the possibility of creating regulated entities, the licensing of investment entities, as well as the provision of crypto asset services.
In addition, special attention was paid to issues related to the human resources aspect for international companies, from immigration procedures to living conditions in Cyprus, as well as new incentives recently announced by the government.
The event also looked at similar areas influencing such decisions, such as the situation in the real estate market, technology-related data and ICT services provided, as well as the broader procedures required for establishment in Cyprus.
“The ever-increasing interest of highly specialized international companies in locating in Cyprus, even in the context of the pandemic and recent unprecedented events, gives rise to optimism that the economic model of Cyprus is developing in accordance with the provisions of the long-term strategy of the Cyprus Economy,” said Tony Hadjiloukas, PwC partner in Cyprus and Head of Headquarters and Private Wealth Management. “As the largest professional services provider in Cyprus, we are committed to contributing to these efforts, which will lead to a sustainable and inclusive development of the Cypriot economy,” he concluded.
The Industrial Producer Price Index rose by 21.7% year on year in June, reflecting continued inflationary pressures in the Cypriot economy.
According to the latest data from the Statistical Office of Cyprus (Cystat), the Producer Price Index for Industry in June 2022 reached 131.3 points (baseline 2015 = 100), an increase of 0.5% compared to May 2022 and 21.7 % compared to May 2022 . from the corresponding period last year.
For the period from January to June 2022, the index recorded an increase of 19.4% compared to the corresponding period in 2021.
Growth compared to last year was observed in all sectors: electricity supply increased by 51.8%, water supply and recycling of materials – by 15.6%, processing – by 13.7%, mining – by 10.5%.
The Cyprus Stock Exchange (CSE) ended Monday, August 1st with a profit.
The overall Cypriot stock market index stood at 68.86 points at 13:40 during the day, reflecting an increase of 1.88% from the previous trading day.
The FTSE/CySE 20 index stood at 41.24 points, up 1.95%.
The total transaction value was 135,096 euros.
As for the sub-indices, the main and alternative indexes rose by 1.71% and 2.06%, respectively, while the hospitality and investment companies indices remained stable.
Vassiliko Cement Works (+8.59%), Bank of Cyprus (+2.46%), Hellenic Bank (+3.33%), Salamis Tours (+2.34%), Logicom (no change ) and CCC Toursit Enterprises (+2.44%).
