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AmCham Cyprus STORY

Representing several US companies based in Cyprus, in cooperation with the Cyprus Chamber of Commerce & Industry and the US Embassy, AmCham Cyprus (the American Chamber of Commerce in Cyprus) promotes business, economic, trade and cultural relations between the two countries. AmCham Cyprus President Haris Kakoullis explains how the organisation helps safeguard the interests of its members and shares his views on the current state of entrepreneurship in Cyprus. PromotingCyprus-US Ties By Artemis Constantinidou

44 | Gold | The Business Magazine of Cyprus for laws and regulations and from the US Government to be approved by the Board of the promotion of corporate bring our members together Directors. Interested parties social responsibility. with the right professionals can obtain an application and learn from the most ap- form from our website (www. GOLD: What are the main propriate and relevant sources. amchamcyprus.com.cy). objectives of AmCham? We hold business dinners with Members have the opportu- H.K.: Our objectives are (1) prominent speakers to discuss nity to raise any challenges W to promote, expand and en- regional and other business they face related to the busi- hat exactly is AmCham Cy- courage economic and trade developments, related to eco- ness environment of Cyprus. prus and what is its mission? relations between Cyprus and nomic, legal, tax, environmen- Our Board of Directors meets Haris Kakoullis: AmCham the United States of America; tal and regulatory matters. at least once a month and is an organisation with a (2) to propose to the govern- Historically, we have periodi- discusses all matters raised by presence across the globe, ments of the two countries, cally organised business del- its members. We also meet which speaks for and sup- ways and means by which egations to the United States, regularly with the US Em- ports American companies. In trade and economic relations accompanied by several of our bassy, government officials, Cyprus, AmCham operates can be further improved; (3) members and other business ministers and other leaders under the auspices of the Cy- to hold meetings with of- people with the dual aim of of business forums in Cyprus prus Chamber of Commerce ficials of the two countries promoting Cyprus and iden- with the intention of discuss- & Industry (CCCI) from its with a view to safeguarding tifying business opportunities ing our members’ issues and offices in Nicosia. AmCham the smooth operation and for our members. Our next pushing for appropriate solu- Cyprus, which has been active flow of trade between the US business delegation will go to tions. Members participate in for 20 years, relies heavily on and Cyprus; (4) to create and the USA next year. our events and are also eligible the volunteering support of its maintain regular communi- Earlier this year, we organised to become members of our 70 or so members, together cation between the business for the first time a regional working committees, which with that of the CCCI and communities and politicians meeting with the leaders enables them to successfully the US Embassy in Cyprus. of the two countries; (5) to of AmCham Greece and network with others within We also operate through our develop ways of enhancing co- AmCham Israel and signed the Cyprus business com- working committees, where operation between American a Memorandum of Under- munity. participants seek through and Cypriot businessmen; and standing, with the intention regular meetings to develop (6) to present to the American of following in the steps of GOLD: What does your topics of interest and create market the dynamic aspects of the three governments and collaboration with the CCCI relevant and valuable events the Cyprus economy, with an promoting regional business and the US Embassy entail? for our members. AmCham emphasis on the opportunities H.K.: As already mentioned, cooperation. We are confident Cyprus is itself a member of for international and US com- AmCham Cyprus operates of the success of this ambitious the US Chamber of Com- panies to trade not only with under the auspices of the idea and we aspire to soon merce, whose headquarters are Cyprus but also, via Cyprus, CCCI. We do not employ in Washington D.C, and a with the Middle East, North have an opportunity to co- any staff and so, besides rely- member of AmCham EU and Africa, Eastern Europe and the organise events that promote ing heavily on the voluntary AmChams in Europe. European Union. the interests of our members work carried out by our Board Our mission is to create and our countries. Members, we also depend on value for our members by GOLD: What events and the assistance of the CCCI, advocating for a supportive other actions does AmCham GOLD: What are the re- which currently provides staff, policy environment, providing Cyprus organise in order quirements for a company financial and other support. business insights, promoting to support its members and to become a member of Am- We also have a close col- professional development and promote business in Cyprus? Cham Cyprus? In what ways laboration with Invest Cyprus, connecting people and busi- H.K.: We organise various does the organisation assist which offers its expertise in nesses. We further aspire to local social events with the its members? promoting our country in the be among the best and most objective of bringing our H.K.: Members of AmCham US and trying to attract new prominent international busi- members and others together Cyprus can be individuals, investors, as we did recently ness associations in Cyprus, to meet and network, to and/or other legal entities of with the film industry. The through our core values of discuss their experiences and Cypriot or other origin that US Embassy is actively in- support for private enterprise, learn from one another. We have made a notable and volved in AmCham Cyprus, free trade and open markets, organise business breakfasts distinguished contribution to through the participation of proper corporate governance, and lunches with government the Cyprus and/or American ex-officio members on the ethical and transparent busi- officials, ministers, US Embas- business community. Applica- Board. The US Ambassador Cyprus-US Ties ness and operations, respect sy officials and other officials tions for membership must and other embassy officials

www.goldnews.com.cy | Gold | 45 coveR

AmCham Cyprus STORY

meet with us regularly and corporate tax rate of 12,5%, entirely in Cyprus, starring that Cyprus, as a fund jurisdic- discuss matters affecting one of the lowest in the Eu- award-winning actor Nicolas tion, could be a serious option American business in Cyprus ropean Union, tax breaks for Cage. for American fund managers, and ways in which the US expat executives and a very who might be interested in us- Government can support it. strong network of double tax GOLD: Are there specific ing Cyprus as their entry point Occasionally, events might be treaties. In addition to the sectors in which US compa- to European capital markets as co-organised and partly spon- tremendous economic and nies are particularly attract- well as a platform for their in- sored by the US Embassy. tax advantages offered to in- ed to invest in Cyprus? ternational activities, in terms vestors, Cyprus also offers an H.K.: All of the factors men- of investors and investments. GOLD: What are the bene- attractive lifestyle. It is a safe tioned earlier are already entic- fits of a US company setting place to live, with a relatively ing multinational and other GOLD: In what ways can up in Cyprus, rather than in very low crime rate; the edu- companies to set up regional the Government help im- another country, and what is cation system offers primary, headquarters or other offices prove the business environ- it that attracts US investors secondary and university level in Cyprus. Considering the ment and further enhance to do business here? entrepreneurship between H.K.: Cyprus stands at the teaching in English; we have technological advancements a high standard of living and and integration of information Cyprus and the US? crossroads of three continents, H.K.: Since the crisis in 2013, close to countries with popula- healthcare, excellent food technology systems, moving a and fabulous weather. Add to company’s head office is much Cyprus has made tremen- tions totalling hundreds of dous progress in improving millions. It is a member of the this our culture, thousands of easier than before. Many years of history, archaeologi- technology multinationals, its finances and restarting its EU and the eurozone, with economy and its efforts have cal sites, stunning coastlines, including IBM, Microsoft, a competitive, modern and been rewarded by regaining exclusive golf resorts and high NCR, Oracle and TSYS, and transparent legal, financial its investment-grade status. quality hotels and it’s easy to others in the energy sector, and regulatory framework. We have also made significant Cyprus is further character- see why Cyprus is an attrac- such as ExxonMobil, Noble progress towards combat- ized by its low set-up costs, tive destination for all visitors. Energy and Halliburton, have ing money laundering and excellent telecommunications These factors, together with been successfully operating in improving transparency. systems and a highly skilled, recent new incentives offered Cyprus for many years now, Unfortunately, negative media educated and multilingual by the Government, have and we envisage more such coverage relating to allegations workforce. The country has a played an important role in companies following their of past money laundering competitive tax system with a the production of the first example. Additionally, Cyprus incidents have created adverse Hollywood film to be shot is an emerging fund and fund publicity for the country but management jurisdic- we must not give up; the fight tion, offering fund against money laundering is We strongly managers and promot- a continuous one, in which ers cost-effective and all business and professional believe that agile solutions to meet groups and the Government a wide range of busi- need to do everything possible Cyprus, as a fund ness requirements. to protect Cyprus’ prestige The country offers and credibility. Last year, jurisdiction, flexibility to fund man- a Statement of Intent was could be a agers within a robust signed between Foreign Min- EU framework and ister Nikos Christodoulides and the then US Assistant Sec- can serve as a practical serious option retary of State, Wess Mitchell, long-term platform to serve as a framework for for fund managers for American further and deeper coop- and service providers eration on security matters. to develop their fund Further to that, last March, business, moving away Secretary of State Mike Pom- fund from the traditional peo stated that the US views offshore jurisdictions. Cyprus as a key partner for managers We strongly believe prosperity and security. It’s

46 | Gold | The Business Magazine of Cyprus Last March, obvious that our Government ment funds in the USA are Secretary and, specifically, the Ministry always looking for innovative of Foreign Affairs, is taking ideas that could evolve into of State Mike action to grow our partner- profitable businesses. We ship with the United States, must implement an effective Pompeo stated focusing on enhanced coop- system to support our young that the US views eration on anti-terrorism and scientists and business entre- cybersecurity matters. preneurs and guide them to Cyprus as a key We believe that the Gov- find the necessary funds to ernment must continue its develop their ideas into suc- partner for pursuit of modernizing and cessful businesses. strengthening our double tax treaty with the US. In addi- GOLD: How important has tion, it would be extremely the Cyprus Investment Pro- beneficial if Cypriot citizens prosperity gramme been to the revival were to become eligible in and security of the Cyprus economy and the near future to apply for what role do you expect it an ESTA (Electronic System are many other cases where that has led the country to to play in the future? for Travel Authorization) visa investors have established overcome past economic H.K.: The Cyprus Invest- waiver when travelling to the new companies or moved challenges. As we have now ment Programme is available United States. Currently, this their headquarters and their corrected many of our mac- to individuals who invest in is not the case, although the families to Cyprus. The hold- roeconomic imbalances and the country and although Government is working hard ing company regime, together seen the economy return there has been a focus on the to achieve this. Cyprus needs with the non-domicile status to investment grade, I feel real estate sector, investments to set out a clear vision and and the country’s advanced confident that we are on in units of funds and compa- strategy for the economy with education system, are three of the right track. At the same ny shares are also included in a long-term objective of grow- the main factors that inves- time, we need to focus on the Programme’s financial cri- ing in specific sectors such as tors take into consideration particular industry sectors, teria. These incentives, com- tourism and hospitality, real before relocating. The latest and set measurable goals bined with the attractive tax estate, shipping, information revisions to the Programme and a strategy to success- and legal system, economic technology, investment funds include very detailed and fully develop them in the growth, enhanced confidence and energy. Strengthening enhanced due diligence re- medium to long term. Such in the country by the inter- the higher education sector garding applicants and their industry sectors include national market (as seen in and creating links to innova- background, ensuring that energy, investment funds, the unprecedented reductions tion and local entrepreneur- Cyprus citizenship is not tourism and hospitality, real in the yields of Government ship will further support the granted to anyone whose estate, shipping, filming and bonds), the solid capital base local economy, create more integrity is in doubt. De- education. Over the last few of Cypriot financial institu- jobs and further improve the spite the stricter regime, the years, all these sectors have tions, political stability and standard of living. country continues to retain attracted a large amount of one of the lowest crime rates, its competitive advantages Foreign Direct Investment A healthy economy also have already led a significant and remains an attractive and offered tremendous new needs to maintain an effec- number of investors to take investment destination. opportunities. We further tive ecosystem that supports advantage of the Programme. need to gradually build innovation, Research & It should be noted, however, GOLD: What is your view an ecosystem in which in- Development and start-ups. that the real estate market also on the current state of en- novation and start-ups can In addition to the actions that attracts investors who have trepreneurship in Cyprus? grow. Such an ecosystem we need to take in Cyprus not applied for citizenship Which sectors have the will allow business incuba- to gradually build such an but consider Cyprus as the most potential to flourish tors to develop and the new ecosystem, we also need to ideal place in which to have a in the near future? generation of Cypriot entre- create alliances with other holiday home or make an in- H.K.: Cyprus has a long preneurs to emerge. vestment. Together with the countries such as the USA history of entrepreneurship many instances of investors and Israel, which have the and commerce. Capable *Thanks to Sitio Café & Res- acquiring a property in order required knowledge, expertise Cypriot business leaders are taurant where the photo was to apply for citizenship, there and resources. Large invest- the critical success factor taken.

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AmCham Cyprus Additional members STORY of the Board: Marios Kapiris, IBM, Kyriakos Kyriakou, NCR and Stelios Violaris, PwC.

Kyriacos Xenophontos, Demetris Elias Neocleous Sparsis, & Co LLC Hellenic Member Bank Member

Leonidas Georgiou, Microsoft Member Antonis Skoullos, Oracle Member

Lia Riris Secretary

George Georgiou, Logicom Vice-President

Savvas Klitou, Baker Tilly Treasurer Elena Kontemeniotis, University of Nicosia Member AmCham Cyprus Bo ard of directors

48 | Gold | The Business Magazine of Cyprus Thanks to Sitio Café&Restaurant where the photograph was taken.

John Georgoulas, Economist Conferences/ Varnavas Way out Theodosiou, Communications ExxonMobil Member Haris Kakoullis, Exploration KPMG and Production President Cyprus (Offshore) Limited Member Ephie Charalambidou US Embassy

Aris Anastasiades, Advance Business Solutions Member

Demetris Taxitaris, MAP S.Platis Member

Periklis G. Theodoridis, Cablenet Member

Andreas Dermosoniades, NewCytech Business Solutions Ltd Member

AmCham Cyprus Bo ard of directors

www.goldnews.com.cy | Gold | 49 coveR AMERICAN companies IN CYPRUS STORY

US Companies in Cyprus

he USA is everywhere, competing and often leading the way in their be it culturally through the respective fields. entertainment industry, fashion Recent discoveries of natural gas reserves in and popular events, or through Cyprus’ Exclusive Economic Zone have furthered its influence in the business the American presence on the island through Oil sector. Cyprus is no exception & Gas companies. US companies have proven and there is a strong, varied particularly important in this area and it was, of and very evident American course, an American company – Noble Energy Tpresence on the island. – that made the first hydrocarbon discoveries A large number of American companies have set offshore Cyprus. up here, some opening their own branches and On the following pages, we list (in alphabetical others investing in existing Cypriot companies. order) 25 major US firms that are active in Multiple firms and organisations in the fields Cyprus. The list should not be considered as of Consulting, Software and Technology, comprehensive and it should be noted that no Accountancy and Finance, Education, Real Estate firm or company has paid to be included, nor has and Marine Offshore have been established, payment of any kind been sought.

50 | Gold | The Business Magazine of Cyprus

DATE OF ★ CEO ★ COMPANY NAME DESCRIPTION INCORPORATION IN CYPRUS CONTACT DETAILS ABS, a marine and offshore classification -or ganization, covers technical, operational and ABS (American Address: 237, 28th October Street, regulatory challenges for the safe, secure and Lophitis Business Center II, Office Bureau of responsible operation of marine and offshore 402, 3035, Limassol Shipping) industries. Its services include marine, contain- Soteris Pavlou 2007 Tel: +357 25817230 er certification, offshore, government, Rapid e-mail: [email protected] Response Damage Assessment, Advisory Website: ww2.eagle.org Services, Gas, Type Approval and Maritime Training.

Amdocs is a software and services provider to Address: The Maritime Center, 141 Amdocs communications and media companies, provid- Omonia Avenue, 3045 Limassol ing services around the Internet of Things (IoT), Tel: +357 25 886000 artificial intelligence, network functions virtual- Yiannis Tinis 1997 Fax: +357 25 886822 ization (NFV), network control and optimization, e-mail: [email protected] business support systems (BSS) and operation- Website: www.amdocs.com al support systems (OSS), among others.

American American Hellenic Hull is a global insurer Address: 4, Kallitheas Str.Imperial and insures hull, machinery and war risks for House, 2nd floor, office 202, 3086 Hellenic Hull most classes of vessel and all types of tanker, Limassol container ships, gas carriers and passenger 2016 Ilias Tsakiris Tel: +357 25 584545 vessels. American Hellenic Hull operates in all Fax: +357 25 584641 international marine insurance markets and has e-mail: [email protected] been in Cyprus since April 2016. Website: hma.com.cy

AIG serves commercial, institutional and indi- vidual customers with insurance products. AIG American Address: 26, Esperidon Street, 2001 Cyprus Ltd. is its local general representative. Strovolos, Nicosia International The global insurance company provides a Tel: +357 22 699999 Group (AIG) range of insurance products including general Stavros Florides 1959 Fax: +357 22 699700 property/casualty, life insurance, and retirement e-mail: [email protected] and financial services through its General In- Website: www.aig.com.cy surance, Life and Retirement and Investments business units.

Cisco Systems, Inc. are the networking foun- dations for service providers. The company's Cisco Systems Address: 81-83 Grivas Digenis core development areas are in routing and Avenue 1st Floor, Nicosia, 1090, Inc. switching, as well as in advanced technologies. Antonis Tsiboukis Tel: +30 210 638 1445 Cisco also provides technical support. Cisco 2000 e-mail: [email protected] sells its products and services, both directly Website: www.cisco.com/c/en_cy through its own sales force as well as through its channel partners.

Crowe Cyprus Limited is an accountancy firm and Address: 8 Stasinos Avenue, 1st an independent member of Crowe LLP, which Floor, Photiades Business Center, Crowe LLP specializes in international tax planning and struc- 1060 Nicosia, 1522 Nicosia, turing. Among its services Crowe provides Tax 2007 Andreas Pifanis Tel: +357 22755656 Consulting, Audit and Assurance, Global Corpo- Fax: +357 22452055 rate Consulting, Enterprise Risk Management, e-mail: [email protected] VAT, Corporate and Shipping services. Website: www.crowe.com/cy

Exxon Mobil Corporation is an American mul- Address: 6 Ayiou Procopiou str, tinational oil and gas corporation. After signing 2406 Engomi, Nicosia an exploration and production sharing contract Exxon Mobil Tel: +357 22393101 with the Government of Cyprus in April 2017, it Varnavas Corporation Fax: +357 22777840 began offshore exploration drilling in Block 10 2017 Theodosiou e-mail: kasia.chrysostomou@ in November 2018 with its partner Qatar Petro- exxonmobil.com leum International. ExxonMobil explores for oil Website: www.esso.com.cy and natural gas on six continents.

FedEx Corporation (originally Federal Express) is an American multinational courier delivery Address: Dimokratias 39, Strovolos FedEx services company. The company is known for Nicosia, 2034, Corporation its overnight shipping service and pioneering a - Tel: +357 22 606 100 (International) system that could track packages and provide - Fax: 22 450 065/68 real-time updates on package location, a fea- e-mail: [email protected] ture that has now been implemented by most Website: www.fedex.com/en-cy other carrier services.

Halliburton Halliburton comprises 14 product service lines (PSLs) in two divisions: Drilling & Evaluation, and Completion & Production. Halliburton Consulting and Project Management PSL works across both divisions and is the spearhead of its integrated- 2014 Artem Krokhin - services strategy. PSLs are primarily responsible and accountable for strategy, technology devel- opment, process development, people develop- ment and capital allocation.

www.goldnews.com.cy | Gold | 51 coveR AMERICAN companies IN CYPRUS STORY

DATE OF ★ CEO ★ COMPANY NAME DESCRIPTION INCORPORATION IN CYPRUS CONTACT DETAILS

International The International Business Machines Corpo- Business Address: 42-44 Grivas Dighenis ration (IBM) is an American multinational infor- Avenue, 1080, Nicosia Machines mation technology company. IBM produces Tel: +357 22841100 Corporation and sells computer hardware, middleware and Marios Kapiris 1963 Fax: +357 22666372 (IBM) software, and provides hosting and consult- e-mail: [email protected] ing services in areas ranging from mainframe Website: www.ibm.com/cy computers to nanotechnology.

Iron Mountain Cyprus is an information management company in Cyprus, offering records management, digitisation, confidential Iron Mountain destruction and enterprise content manage- Tel: 77 778666 Inc. ment solutions. Among others, their services 2003 Andrea Antoniou e-mail: [email protected] include Document Storage & Retrieval, Elec- Website: www.ironmountain.com tronic Document Management Solutions, Se- cure Document & Media Destruction, Backup Media Vault, Back file Document Imaging.

Microsoft, founded in 1975, develops, manufactures, licenses, supports, and sells Address: 11 Limassol Avenue, Microsoft computer software, consumer electronics, Galatariotis Building, 1st Floor, personal computers, and related services. Theodosis Aglandjia, 2112, Nicosia Microsoft is best known for its Windows oper- 2002 Michalopoulos Tel: +357 22 799700 ating systems, the Microsoft Office suite, and e-mail: [email protected] services such as Windows Phone, Xbox, Sur- Website: www.microsoft.com/en-cy face, Visual Studio and Microsoft Dynamics.

Moody's Investor Service, also known as Address: Moody's Investors Moody’s, provides credit ratings, research, Moody’s Service Cyprus Limited, Porto tools and analysis. The company ranks Bello Building, 1 Siafi Street, 3042 Cooperation the creditworthiness of borrowers using a Mardig Haladjian Limassol, 53205, Cyprus standardized ratings scale which measures - Tel: +357 25586586 expected investor loss in the event of default. Fax: +357 25586677 Moody's Investors Service rates debt securi- Website: www.moodys.com ties in several bond market segments.

NCH began investments in the Real Estate and Hospitality sectors of Cyprus in 2015 Address: NCH Cyprus, 18 Arch. through an investment in a boutique hotel Makarios III Avenue, 1st Floor, 2220 development project in Larnaca. NCH Capital Inc. Andreas K. Santis Latsia - Nicosia, Cyprus In 2018, it acquired two large seafront devel- - Tel: 22504644 opment sites in Larnaca (former Beau Rivage e-mail: [email protected] Hotel and adjacent land) that are planned to Website: www.nchcapital.com be developed into branded, mixed-use hospi- tality and leisure integrated resorts.

NCR in Cyprus was established in Nicosia Address: 80, Limassol Avenue, NCR as a subsidiary of NCR Corporation in 1955. 2014 Nicosia It provides specific solutions and consulting Corporation Kyriakos Tel: +357 22423388 service, to government and semi-government 1955 Kyriakou Fax: +357 22424460 organisations, banks and businesses in the e-mail: [email protected] retail, communications, travel, hospitality and Website: www.ncr.com technology sectors, and to small businesses.

Nielsen Cyprus is a management consulting Address: 8 Skopa Street, 1075 Nielsen company based in Cyprus. Nielsen is a global Nicosia measurement and data analytics company. Holdings Plc Daniel Tel: +357 22886600 Nielsen Holdings serves media, advertising, 1994 Chorbadjian Fax: +357 22337312 retail and consumer goods industries, e-mail: [email protected] operating in over 100 countries, covering Website: www.nielsen.com/cy/en/ more than 90% of the world’s population.

Noble Energy is an independent exploration Noble Energy and production company. It was the first International operator to discover natural gas resources Address: 73, Metochiou Street, Ltd. offshore the Republic of Cyprus. In November Vance Greene 2407 Engomi, Nicosia 2019, Noble Energy entered an amended 2008 Tel. : +357-22449190 production sharing contract and received the Website: www.noblenergy.com first exploitation licence granted by the Gov- ernment of Cyprus.

52 | Gold | The Business Magazine of Cyprus

DATE OF ★ CEO ★ COMPANY NAME DESCRIPTION INCORPORATION IN CYPRUS CONTACT DETAILS Oracle Corporation is an American multi- national computer technology corporation, Oracle Address: 58 Acropoleos Avenue, which sells database software and technolo- 2084, Nicosia Corporation gy, cloud engineered systems, and enterprise Antonis Skoullos Tel: +357 22 694694 software products – particularly its own-brand 2003 Fax: +357 22 317979 database management systems. It specializes Website: www.oracle.com/cy in enterprise software applications and busi- ness intelligence, among others.

Pfizer Inc. is an American multinational pharmaceutical corporation. The company Address: 57 Digeni Akrita Avenue, develops and produces medicines and vac- Pfizer Inc. Nicosia cines for a wide range of medical disciplines, Kyriacos Mikellis Tel: +357 22817690 including immunology, oncology, cardiology, - Fax: +357 22751855 endocrinology, and neurology. Its products Website: www.pfizer.com include drugs such as Lipitor, Lyrica, Diflucan, Zithromax), Viagra and Celebrex.

Providence Equity Partners owns Galileo Global Education, which acquired European Address: 6, Diogenous Str, 2404 Providence University Cyprus from Laureate institutions in Engomi, Nicosia Cyprus in 2017. Galileo Global Education is a Equity Partners Tel: +357 22 713000 European private education group focused on - 2017 Fax: +357 22 662051 providing students with increased access to e-mail: [email protected] higher education in the fields of art, creativity, Website: euc.ac.cy/en/ design, digital, communication and manage- ment.

RE/MAX also offers real estate brokerage Address: Interlink Hermes Plaza, through its international real estate franchise Shop 4, Office 301A, 46 Ayiou RE/MAX network. The RE/MAX Regional Franchise for Athanasiou Av., Ayios Athanasios, Cyprus is owned by CN Franchise Co Ltd, Christos 4102, Limassol while each individual office within the RE/ 2016 Nikolaou Telephone: +357 25507001, MAX Cyprus group is independently owned Fax. +357 25507100, and operated. RE/MAX Cyprus is a real estate e-mail: [email protected] network provider that buys and sells real es- Website: www.remax.com.cy tate in Cyprus.

SYKES is a provider of multichannel demand generation and customer engagement ser- Address: 40 Constantinou Kalogera vices for Global 2000 companies. It provides Street, 6021 Larnaca SYKES the teams, systems and technology needed to Tel: +357 99 852070 streamline and optimize all phases of the cus- Kurt Sölter 2017 e-mail: recruitment.cyprus@sykes. tomer journey. SYKES’ services include digital com marketing, sales expertise, customer service Website: www.sykes.com/cyprus/ and technical support through multichannel delivery platforms.

Tiger Offshore is an international provider of Address: Tiger Offshore Rentals rental equipment to the upstream offshore oil East Med Ltd, Zakaki, 3045, and gas market. Its fluid tanks and logistics Tiger Offshore Limassol allow for the safe transportation and storing - Tel: +357 96 251527 of drilling fluids and liquids. Its equipment - e-mail: contact@ moves assets such as pipe, dry sack material, tigeroffshorerentals.com (global) groceries and supplies to and from drilling and Website: tigeroffshorerentals.com production sites.

TSYS is a global payments provider that offers TSYS secure and innovative solutions across the Address: 4 Verginas Street, 1st International payments spectrum – for issuers, acquirers, Floor, 2025 Strovolos, Nicosia merchants and consumers. TSYS’ main focus Troy Woods Tel: +357 22882600 is unlocking opportunities in payments. Global 2006 Fax: +357 22882982 Payments Inc. is a play payments technology e-mail: [email protected] company delivering software and services to Website: www.tsys.com their customers globally.

UPS is a package delivery company and UPS Address: 20 Strovolos Avenue, global provider of specialized transportation 2011 Strovolos, Nicosia and logistics services. It manages the flow of Tel: +357 22710100 goods, funds, and information in more than Manolis Manoli - Fax: +357 22 22495070 200 countries and territories worldwide. G.A.P. e-mail: [email protected] Vassilopoulos Group is the authorised service Website: www.ups.com/cy/en contractor of UPS in Cyprus.

www.goldnews.com.cy | Gold | 53 coveR AMERICANS AT HOME IN CYPRUS STORY hat led to your move Ryan Barnard from the Development Director, USA to Design Global Cyprus? Development W Wargaming Group Ltd Wargaming approached me and they were interested in having my whole family move to Cyprus with me, which was very interesting and a huge advantage. When my wife and I first heard about this opportu- nity, we began researching the country. At first we were a bit concerned with the geographi- cal location, due to its proxim- ity to the Middle East. Upon researching, however, we found that Cyprus is very high up in global lists regarding educa- tion and safety, something that played a big role in our move. We came over two years ago in July and it was extremely hot when we arrived. They took us to Limassol Marina on one of our first days on the island and we couldn’t even walk around on the boardwalk. We had to sit in a coffee shop for a few hours! But now we’ve very much adapted, I’d say. My son, who is four, is absolutely fine with the weather. We take advantage of the summers here, so he gets to swim and enjoy the sea. Obviously the summers are amazing here, but even the ‘winters’ here are very short. We really like it here, and let’s not forget the excellent food!

Did you experience any kind of culture shock upon moving to Cyprus? If so, what? I wouldn’t call it a ‘shock.’ The biggest adjustment, rather, that I had to get used to was the concept of ‘Cyprus Time,’ Life in the which applies to everything. Even when we first arrived and wanted to connect our Internet upon setting up our house, the quote they gave me was a full

Photo by TASPHO

Slow54 | Gold | The Business Magazine of Cyprus Lane month. In the United States, guage isn’t really an issue here. it would have been merely a There’s no problem commu- Only 10% of few days. The Internet is fast nicating what you might want though, which, being in the or need in English so there’s Wargaming works industry I am in, was prob- not much adjustment needed ably one of my biggest con- regarding a potential language on the island, so cerns upon moving. In gen- barrier. We’re still getting used we’re a tight- eral, however, if you need to to the long hours when we get something done, it works travel abroad, whether we’re knit team, almost at a relatively slow pace. It travelling home or for work. may not necessarily be a Travelling is something we do family and it’s characteristic that is exclusive a lot of so we’re trying to get to Cyprus – perhaps it is a used to spending long hours in Mediterranean thing – and airports. I think that if you live in a really nice place where it’s too hot to do How does the professional anything in the middle of the environment in Cyprus dif- How do you view your in- How is the Cypriot lifestyle day, then things take longer fer from that in the US? dustry’s progress over the different from the Ameri- to get done. Your culture just It really depends on the indus- recent years? can? grows around that and em- try. It’s a bit more of a ‘boys I think there is definitely prog- Pace. Just pace. Here, you braces it. That was probably club’ than it would be inter- ress. We went to Malta for a don’t have to be constantly the biggest adjustment. Also, nationally. My interactions mini-vacation this past spring moving and active. Things the driving is here is… insan- are through Wargaming and and I was surprised to see a are just slower and they move ity! I always tell my friends the people we interact with are few independent gaming com- at a more relaxed pace. In that it’s like a smaller version generally those who come to panies appear. Tax breaks are general, this is a good thing of Paris. It’s like bumper cars. us to ask us about the gaming positive, so I think we’re go- but, in certain situations, it People drive however they industry, rather than to col- ing to be seeing more. I think can be inconvenient, because want and park wherever. That laborate as such. I do know Wargaming is the biggest one the whole world doesn’t took some getting used to! that there is a lot of ‘red tape’ as here but, depending on where work on Mediterranean time! we’d call it in the States: there you are in Europe, it can make When you’re in a delivery- Is there anything Cyprus are a lot of hurdles to jump over a lot of sense to develop or start driven industry like ours and has to offer that you prefer in order to get something done a studio. However, if you’re many others, you have dead- to what you were used to in here in Cyprus. In that sense it moving a company or starting lines and so you need people America? seems... culturally different than one up, you have to get people to work hard towards meet- Apart from the climate, it’s the States but I don’t get that to agree to come and that can ing those deadlines. But as the people, who are very open side of it too much because we be challenging. It’s tough to I’ve previously mentioned, we and friendly, which I think is work mostly internally. recruit. If you’re moving a don’t develop anything here another Mediterranean char- studio, it might be easier to get so I only encounter this in acteristic. There’s no situation How do you view the business your employees to follow and life outside work, if we need where you feel unsafe, which environment in your particu- it helps if the location is attrac- work done on the house, for can be very different from the lar industry? tive. In any industry, when the instance. Generally speaking, States depending on where I don’t get to see much of it discussion concerns moving things require longer to get you live. We like that a lot. As in Cyprus because we don’t for development, location is done. This is unfortunately a family we’ve been very happy develop projects in Cyprus. important. It might not be the reflected a little bit in the living here. The headquarters are here – the main reason but it does weigh industry trend: there aren’t brain – so we need to move in on decision making. Your many big Electronic Arts Are there still things that information out to the heart. priority when choosing a career companies (EAs) or any you’re having trouble adjust- The main studio is in Minsk, will certainly be to make sure of the big publishers like ing to here in Cyprus? Belarus and there are studios that the company and projects Wargaming in the Mediter- My wife took Greek for a year in St. Petersburg and Ukraine. are the right ones for you but ranean countries and I think or so, just to get the basics. It Only 10% of Wargaming if you have two similar op- a lot of it has to do with pace. helps with schools, rent and, works on the island, so we’re a portunities – one in a desirable You need good deliveries. It’s sometimes, government pro- tight-knit team, almost family location and the other in a less not that the work wouldn’t cedures, but it’s hard. I’m not and it’s really nice. It’s a great desirable location – then loca- be good but it might take going to learn Greek but lan- place to work. tion matters. longer to get done.

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Fritz Merz Geologic Operations Advisor ExxonMobil Cyprus Ltd Photo by TASPHO

56 | Gold | The Business Magazine of Cyprus A Real Family Atmosphere secure in Cyprus. We also like How do you view the busi- bons are developed respon- the extended family atmosphere ness environment in your sibly. I am hopeful that here, where lots of relatives live particular industry? will occur in Cyprus also. near each other, unlike in the I have had very good interac- States. It gives the country a tions with other oil and gas How is the Cypriot life- real family atmosphere. companies and while working style different from the with the various ministries. American? W Are there still things that Everyone is very knowledge- The Cypriot lifestyle is hat led to your move from you’re still having trouble able and helpful to the oil and more relaxed and less the USA to Cyprus? adjusting to here in Cyprus? gas business. hectic than in the States. My job with ExxonMobil as No, we adjusted very quickly We feel that we have more a Geologist led me here. I am and feel at home here already. Have you witnessed prog- time to enjoy our family here in support of Block 10 The only thing I had to adjust ress in your industry here in and friends without a lot exploration activities. to was the portion size of the Cyprus? of driving or traffic. The meals and mezes; they are all I feel that the upstream side Cypriots are genuinely Did you experience any very large! the oil and gas industry is still friendly and hospitable kind of culture shock upon in its infancy here but with and they have made our moving to Cyprus? If so, Does the professional en- more exploration activities stay here very pleasurable. what? vironment in Cyprus differ and, hopefully, more discov- We can be in the moun- No, not really. We found all from that in the US? eries, it can grow for oil and tains hiking or at the beach the Cypriots, from the of- No. I have found everyone to gas companies as well as ser- swimming within an hour fice staff to the car dealers, be very professional. There vice companies. My last jobs from our home; you can’t extremely hospitable and anx- seems to be a high number of were in Russia and Guyana find that in the States. We very educated individuals here ious to help us. Whenever I and I have seen first-hand feel very fortunate to be and everyone is very knowl- had a question, there was al- how a whole sector can grow living in your wonderful edgeable of their profession. ways someone to help us out. and prosper when hydrocar- country. Driving on the other side of the road took a couple weeks to adjust but now it seems The Cypriots are genuinely normal! friendly and hospitable Is there anything Cyprus has to offer that you prefer and they have made to what you were used to in America? our stay here very Yes. We love not only the hospi- tality but the safety of the coun- try. My family feels very safe and pleasurable

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