According to managing partner of local legal firm, the nation has what it takes to become an economic powerhouse

Between the COVID-19 pandemic, a banking crisis, and the war between Russia and Ukraine, Cyprus has dealt with some notable challenges in the past few years. However, managing partner of G. Leontiou LLC, Gregoris Leontiou said the island nation is still highly capable of competing on an international level.

“Historically, Cyprus has always been a hub – a safe place to handle operations in the Middle East and Europe, being at the crossroads of three continents. Our position is unique thanks to our EU membership, common-law basis, and high-caliber professionals,” he said.

G. Leontiou LLC is a Cyprus-based law firm specializing in commercial, civil, and administrative law. The firm has also participated in international litigation/arbitration in multiple Western jurisdictions, including England and the USA.

As a professional in the field, Leontiou said Cyprus’s legal system is one of its biggest strengths. On the other hand, this system has also had trouble keeping up with technological advancements. However, the issue is on the verge of being solved, and the solution coincidently is tied to another major problem.

“Our system was rather archaic; for many years, it was not computerized or accessible electronically. But now things are changing rapidly with digitalization, which I think is one of the unexpected benefits of COVID-19,” stated Leontiou.

Though the country he calls home still has quite a bit of work to do, Leontiou remained optimistic about Cyprus’s future place in the global economy.

He stated, “There is a great deal of room for Cyprus to promote its importance as a commercial hub. Our nation has the potential to become an economic springboard for the area, which would allow us to publicize the advantages of doing business in Cyprus and investing in Cyprus.”