An Australian artificial intelligence company, HUMRN, has chosen Cyprus as its global headquarters, citing strong incentives and access to European markets, cbn.com.cy
“The island’s expanding catalogue of digital-nomad and start-up incentives, combined with access to EU markets, outweighed larger hubs such as Berlin and Dublin,” said HUMRN CEO David May in an interview with Cyprus Inform.
HUMRN develops human-centred AI tools designed to help individuals and organisations operate effectively in complex, high-pressure environments. As part of the move, the company plans to relocate eight senior executives and recruit up to 40 local software engineers over the next 18 months.
The transition has been supported by Cyprus’s Company Relocation Fast-Track scheme, which provides 12-month work permits for key staff and their families, renewable for up to five years. May noted that administrative processes have also become more efficient.
He said bureaucracy has “improved drastically” following the introduction of online application systems last year, reducing processing times to around four weeks.
Cyprus continues to position itself as an appealing base within the EU, offering widespread English use, favourable tax conditions-including a capped 17% personal income tax for newcomers-and a 2.5% effective tax rate on qualifying intellectual property income.
The country’s Research Deputy Ministry welcomed the move, describing it as “proof that talent-visa reforms are paying off.”
Source: cbn.com.cy
