In recent years, the Bank of Cyprus has expanded its offering through a series of dedicated hubs, each designed to cater to the unique needs of specific business communities

For decades, Cyprus has been a destination of choice for international business. Its strategic location, EU membership, highly skilled workforce and sophisticated professional services sector have made it a natural bridge between continents. Today, Cyprus continues to evolve, offering new platforms for growth, collaboration, and cross-border business. At the centre of this transformation is the International Business Unit (IBU) of Bank of Cyprus, which has launched pioneering initiatives to better serve international enterprises setting up operations on the island.

In recent years, the Bank has expanded its offering through a series of dedicated hubs, each designed to cater to the unique needs of specific business communities. From Greece to the technology sector and, soon, India, these hubs represent a strategic commitment to building stronger economic ties, fostering innovation and providing a seamless banking experience to international clients.

The Greek hub: supporting a natural partner

Launched in July 2023, the IBU Greek hub was created to support the growing number of Greek companies and entrepreneurs choosing Cyprus as a base for their operations. The ties between the two countries have always been close – culturally, socially and economically – and the establishment of the Greek hub reflects the Bank’s determination to strengthen this natural partnership.

The hub offers integrated services tailored to the requirements of Greek businesses active in sectors such as shipping, real estate, hotel management, export and retail. Its role as a single point of contact makes it easier for companies to navigate the Cypriot business environment, acting as a trusted reference for everything from account opening to international transactions.

Equally important is the hub’s focus on compliance. By adhering to the highest anti-money laundering (AML) standards, it ensures a secure and transparent environment for investment and trade. The hub is staffed with professionals who combine knowledge of the Greek market with deep expertise in international finance, enabling them to facilitate transactions with efficiency and precision.

Beyond the technical aspects, the Greek hub also serves a broader mission: the commercial development of Cyprus-Greece relations. By leveraging Cyprus’ role as a global commercial hub, it helps Greek enterprises expand internationally, while at the same time enhancing the island’s economic links with one of its closest partners.

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The tech hub: three years of innovation

If the Greek hub reflects tradition and partnership, the tech hub represents innovation and future growth. Celebrating its third anniversary, this pioneering initiative was the first and only specialised unit created by a Cypriot bank to support the rapidly growing technology sector.

The tech hub was designed to respond to the unique banking needs of technology companies relocating to Cyprus – from start-ups in their early stages to established global corporations. As the technology sector becomes an increasingly vital component of the Cypriot economy, the hub has established itself as a bridge between the tech community and the financial system.

Its specialised and educated staff are one of its greatest assets. They understand the complexities of the tech industry, from intellectual property protection to venture capital structures and the fast pace of international transactions. Recognising that people are at the heart of every company, the hub also supports the banking needs of relocated staff, ensuring they have seamless access to salary accounts, expense management tools and other essential services.

A key strength of the tech hub is its ability to deliver a seamless banking experience. With efficient corporate account allocation and rapid international transactions supported by the Bank’s extensive correspondent network, the hub provides the agility that fast-growing tech companies demand.

Perhaps most importantly, the tech hub has underscored the Bank’s role as a pioneer in supporting the technology ecosystem in Cyprus. By offering comprehensive services to all levels of companies and aligning with a sustainable international business model, it reflects a recognition that technology is not just another sector but a driver of long-term prosperity for the island.

Coming soon: the India hub

Building on the success of the Greek and tech hubs, Bank of Cyprus is preparing to launch its India hub, a new initiative designed to further broaden the Bank’s international reach. India is one of the world’s fastest-growing economies, a global leader in technology and services, and a country with deepening ties to Europe.

The India hub will aim to upgrade banking services for Indian companies and individuals engaging with Cyprus, targeting increased business flows and facilitating smoother cross-border cooperation. It will also promote Cyprus as an attractive destination for Indian entrepreneurs, highlighting its advantages as a gateway to the European Union and a platform for international expansion.

By strengthening links with India, Bank of Cyprus will start exploiting and building opportunities with one of the largest economies of the world.