Q&A: Petros Theodotou, Founder and CEO, ServPRO Accountants & Consultants

How do you assess Cyprus’s business ecosystem?

Cyprus’s small economic size has been an asset for the nation. We remain flexible, and policymakers have enough room to take swift action when necessary to ensure the economy can adapt to an ever-changing and complex global ecosystem. This has allowed the Cypriot economy to quickly adapt and improve the quality of our overall business environment. 

Combined with this flexibility, another one of Cyprus’s strengths has been the national strategy to attract high-tech companies to establish global or regional headquarters and generally to establish or relocate their businesses to Cyprus. We have already seen numerous multinational ICT firms establish regional headquarters in Cyprus and expect many more in the coming years. A significant advantage attracting firms to Cyprus for regional headquartering is the ease of receiving residency permits, which extends well beyond American firms establishing operations. In addition, with the introduction of the Digital Nomad Visa, even self-employed, freelance professionals, and single employees of foreign companies can effortlessly receive residency in Cyprus for themselves and their entire family while working remotely. 

We have also seen large scale multinationals investing in Cyprus such as Exxon Mobil’s recent expansion of offshore energy exploration in Cyprus’s EEZ or NCR maintaining their regional headquarters in Nicosia since 1985. We hope many other American businesses and multinational corporations realize the true potential and abundance of benefits Cyprus offers as a destination for business establishment, relocation, and investment. 

How is ServPRO advising overseas clients?

The firm has swiftly gained momentum, and we are now a one-stop-shop for professional services. In Cyprus, ServPRO has a well-established team of accountants, auditors, advocates, and consultants, and has for over ten years been providing in-depth practical solutions to worldwide clientele across a diverse spectrum of sectors. We pride ourselves on delivering outstanding service, and our team has a proven track record of providing practical solutions. We advise corporate and individual clients through a solution-driven and detail-oriented approach, all while exhibiting professionalism, ethics, and a strong commercial acumen. We have always aimed for ServPRO to serve as a single point of contact for entities eyeing opportunities in Cyprus and the EMEA region.