Accelerating Investment in Cyprus: The New Business Support Centre’s Role

by News Editor

May 29, 2025

The government of Cyprus has unveiled the Business Support Centre (BSC) to optimize licensing processes and enhance support for both local and international investors. This initiative provides a centralized access point for essential public services, designed to simplify procedures and minimize delays.

Elena Damianou, a representative from the BSC team, highlights the integrated effort among the Strategic Developments Sector, Invest Cyprus, and the Business Facilitation Unit to deliver coordinated and efficient services. This approach is expected to positively impact both immediate business activity and long-term economic resilience through innovation and job creation.

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The BSC stands as a strategic initiative to energize entrepreneurship, improve the competitiveness of the Cypriot economy, and foster high-level investments. Investors will benefit from guidance on company formation, licensing, and support for strategic development projects, especially those qualifying under Law 84(I)/2023, with a fast-track mechanism in place.

A project coordinator will bridge communication between investors and government departments, ensuring all necessary licenses are acquired within a streamlined 12-month period. These efforts align with global best practices, enhancing operational efficiency and administrative transparency through digital transformation.

Currently stationed in Nicosia, the BSC promises accessibility to investors across Cyprus through hybrid remote capabilities, embodying a modern, scalable service delivery model. While additional branches are not planned immediately, ongoing evaluations may inform future expansions.

The Future Forbes Realty Global Properties

The Rocks Project Advances Through Licensing Process In Pentakomo

by THEFUTURE.TEAM

June 5, 2026

Overview Of The Ambitious Development

A large tourism development in Pentakomo is moving through the licensing process. Known as The Rocks Project, the proposal includes a hotel, villas, apartments and a beach club along the coast east of Limassol.

Strategic Location And Broader Impact

Located along the coastal corridor between Limassol and Zygi, the project would form part of the wider Governor’s Beach area. The site is situated near several state and energy infrastructure facilities, including the Evangelos Florakis Naval Base in Mari, making it subject to additional planning and regulatory considerations.

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Master Plan And Key Infrastructure

Situated within the administrative boundaries of Pentakomo, the development is planned for the coastal area of Argaki Tou Mavrou. The project is being promoted by DRL5COMOS Properties Ltd and is supported by an environmental impact assessment prepared by P. Nikolaidis & Associates Ltd. The assessment is available for public consultation until July 3, 2026.

According to the master plan, operations are expected to begin in 2029. Plans include a 14,000-square-metre hotel with 126 rooms, a 900-square-metre spa and wellness centre, restaurants and dining facilities, 26 villas, 73 apartments and penthouses, and a 1,050-square-metre beach club with indoor and outdoor leisure areas. Parking facilities for 240 vehicles are also included in the proposal.

Integration With The Existing Landscape

The development plan allocates 12% of the site to public green space and includes an internal road network. Project documents indicate that several existing structures, including the Kalymnos Fish Tavern and current beach facilities, would be demolished as part of the redevelopment.

Regulatory And Institutional Considerations

The licensing process is ongoing and includes consultations with relevant local and government authorities. Comments submitted by the Ministry of Defence have not been made public due to the site’s proximity to the naval base. Those observations are expected to be reviewed by the environmental impact assessment committee during closed sessions.

Conclusion

With its carefully structured vision and strategic positioning, The Rocks Project promises to be a significant catalyst for economic and social growth in eastern Limassol. As it advances through the regulatory process, stakeholders remain focused on ensuring that this landmark development meets the highest standards of design, sustainability, and community integration.

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