Top 5 reasons why Cyprus can become the next Dubai – SiGMA CIS Summit 2023
The inaugural SiGMA CIS Summit in Limassol, Cyprus, featured a captivating keynote address titled “Cyprus, the next Dubai?” delivered by Ricardo Gorski, Founder of Tax.One. Gorski provided a unique perspective on Cyprus’s potential to become a global powerhouse and shared key insights on why this Mediterranean island could be the next Dubai.
What does Cyprus have to offer the iGaming world?
Gorski explained his deep connection to Cyprus, where he currently resides, emphasising his commitment to helping individuals and businesses relocate to this Mediterranean gem. He touched upon his bold statement in one of his videos, suggesting that Cyprus could become the next Dubai, a claim he went on to substantiate during his keynote.
The core of Gorski’s presentation revolved around five compelling reasons why Cyprus could emerge as a leading destination within the European Union and rival Dubai’s success:
Low Tax Structure: Gorski emphasised Cyprus’s favourable tax environment, with a flat corporate tax rate of 12.5%. He highlighted the possibility for individuals to register as non-domiciled residents, potentially eliminating dividend taxes for 17 years, given specific conditions. While Cyprus isn’t a tax haven, the tax structure offers considerable advantages.
Efficient Bureaucracy: Drawing from his experience in Germany, Gorski lauded Cyprus’s streamlined immigration and company formation processes, which are both cost-effective and efficient. The ease of setting up and running businesses in Cyprus is attracting entrepreneurs from around the world.
Strategic Geolocation: Cyprus’s geographical proximity to Europe, the Middle East, Russia, and North Africa is a crucial factor in its potential success. With a four-hour flight connecting it to major cities like Frankfurt and Moscow, Cyprus is strategically positioned for international trade and business.
“Cyprus has been a strategic crossroads for centuries. It still is, offering a four-hour flight to global powerhouses like Frankfurt, Moscow, and Dubai, making it the heartbeat of international trade.”
Ricardo Gorski – The German who makes Cyprus famous abroad.
Talent and Education: Gorski highlighted the influx of foreign talent, particularly in IT, FX, Fintech, and iGaming industries. Cyprus’s growing startup culture and the high education level of its workforce make it an attractive destination for businesses and professionals alike.
“When we compare it to Germany, where I’m from, I would even say that Cyprus is smarter than Germany.” He added jokingly “I’m German, so I can say that.”
Residency Options: Cyprus offers various visa options and a Permanent Residency (PR) program that requires a €300,000 investment in a Cyprus property. This can lead to citizenship, giving Cyprus an edge over Dubai in terms of culture and nature.
While acknowledging Cyprus’s economic vulnerabilities and geopolitical challenges, Gorski expressed optimism for the iGaming industry’s future in Cyprus. He underlined the country’s remarkable recovery from past economic crises and its unique status as the last divided capital city in the world, which has its advantages and challenges.
Who’s who – Ricardo Gorski
Ricardo Gorski, the driving force behind Tax.One, is a remarkable figure who has seamlessly transitioned from content creation to becoming a pivotal player in the business and relocation services sector. His journey took an unexpected turn when a viral video of him saving a cat’s life catapulted him to social media stardom, amassing a following of nearly 250,000 enthusiasts.
In his role as Founder of Tax.One, Ricardo and his team are actively shaping the future of Cyprus, aiding both individuals and businesses in making the island their new home. His vision and insights, highlighted during the SiGMA CIS Summit, shed light on Cyprus’s potential to emerge as a global powerhouse, challenging the likes of Dubai.
SiGMA Match: Elevating your networking experience
Expanding on its successful debut during the inaugural SiGMA Asia event in Manila this past July, we are excited to announce the availability of SiGMA Match for all attendees at this week’s summit in Cyprus.
SiGMA Match is a complimentary networking tool meticulously designed to enhance your networking experience at our events. It unlocks its virtual doors three days before each summit begins and remains accessible for one week after the event’s conclusion.
