PRESENTATION AND REPORT OF THE FAST TRACK BUSINESS ACTIVATION MECHANISM

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By CEDAR ROSE

The CEO of Limassol based business intelligence company Cedar Rose speaks at the press conference on the latest initiative by the Government of Cyprus.

Nicosia, Cyprus – Antoun Massaad the CEO of Limassol based Cedar Rose was invited to speak at the press conference organised by the Ministry of Energy, Commerce and Industry and the Ministry of Interior.

The event which took place on the 19th of May,2021 was held to report on the progress of this initiative that was designed to help foreign companies locate to Cyprus with the minimum amount of disruption.

Cedar Rose has recently relocated nine employees to Cyprus from Lebanon using the fast track mechanism with Mr Massaad saying: “This will not only enable us to future proof the Company but also open up opportunities for more Cypriot talent to enter the business intelligence community and help grow business trust and confidence through the provision of unparalleled in-depth credit and due diligence reports, locally and internationally.”

Cynthia Gebeily the general manager of Cedar Rose and one of the employees who relocated goes on to say: “All the employees, who initially moved over in March, have integrated successfully and easily into Cyprus life and are delighted to be offered an opportunity to live and work in a secure and progressive country”.

FAST TRACK BUSINESS ACTIVATION MECHANISM

The Fast Track Business Activation Mechanism was approved by the Council of Ministers on the 3rd of September 2020 aiming to further attract foreign business to Cyprus as well as to provide fast and efficient services to foreign businesses wishing to establish a presence in Cyprus.

The Scheme aims to offer a number of benefits to new investors, such as completion of procedures for setting up a company within 7 days from the day the company enters the Mechanism, issuance of residence and employment permits within 4-6 weeks, depending on the number of permits requested and employment of a greater number of third-country nationals in specific professions and with specialised skills, for which a shortage of supply has been identified at a national level, with the majority being related to digital skills.Cedar Rose’s management team were introduced to the scheme by Ms Natasa Pilides, Minister for Minister of Energy, Commerce and Industry when they were presented with the Cyprus Special Export Award in November 2020.

Cedar Rose

Cedar Rose International Services Ltd is recognized for its proficiency in delivering expert Business Intelligence advice, company credit reports, and due diligence research to the EU market throughout 2018. Established in the UK in 1997, the company relocated its headquarters to the beautiful island of Cyprus in 2007. The name “Cedar Rose” comes from the national emblems of Lebanon and England, the countries where founders Antoun Massaad and Christina Massaad were born.

Besides credit reports and due diligence investigations, the company also offers electronic identity verification and customer onboarding software to clients all around the world. Their services enable their customers to trade securely, to export and extend credit with confidence and to onboard customers without enabling fraud, money laundering or the financing of terrorism.

Cedar Rose’s customers include Tier 1 banks, Big 4 Auditors, export insurance agencies, governments, and private companies. The company has been a National Winner for Cyprus twice in the European Business Awards and recently won the Commercial Credit Information Provider of the Year and the CCR Credit Excellence Award for Export in the UK.

To watch the speech which was broadcast live on YouTube click here.

Contact: Antoun Massaad

Company: Cedar Rose International Services Ltd

Phone: +357 25 346630

Email: antoun@cedar-rose.com

Web: https://www.cedar-rose.com

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