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Cyprus-Based Avanti Raises €300,000 Through Crowdfunding On Crowdx

by THEFUTURE.TEAM

September 17, 2024

Cyprus-based startup Avanti has successfully raised €300,000 through the crowdfunding platform Crowdx, marking a significant milestone in its growth journey. The funding round highlights the growing role of crowdfunding in the local startup ecosystem and Avanti’s potential to scale within the competitive tech landscape.

Avanti, which focuses on developing cutting-edge solutions in the travel and hospitality industry, attracted wide interest from both local and international investors. The successful crowdfunding campaign demonstrates the increasing confidence in Cyprus’ startup ecosystem and the willingness of individual investors to back innovative ventures.

A Strategic Funding Move

Crowdfunding has become an increasingly popular financing mechanism for startups seeking to raise capital without relying on traditional venture capital or bank loans. Avanti’s decision to raise funds through Crowdx is particularly strategic, as it allowed the company to leverage a broad base of investors while also fostering a community around its brand.

The €300,000 raised will be directed towards product development, expansion efforts, and scaling its operations across new markets. The company is poised to enhance its offerings in the travel-tech sector, focusing on improving the customer experience and creating digital solutions tailored to the evolving needs of the hospitality industry.

The travel and tourism industry is undergoing a digital transformation, driven by changing consumer behaviour, sustainability demands, and the need for enhanced operational efficiency. Startups like Avanti, which are nimble and innovative, are in an ideal position to take advantage of these shifts, positioning themselves for growth in a rapidly evolving market.

A Boost for Cyprus’ Startup Ecosystem

Avanti’s successful crowdfunding campaign is also a reflection of the maturing startup ecosystem in Cyprus. While traditionally dominated by sectors like tourism and financial services, the island is increasingly becoming a hub for tech startups, bolstered by supportive government policies and growing access to funding.

Crowdfunding, in particular, has emerged as a critical funding avenue for Cypriot startups. Platforms like Crowdx have facilitated easier access to capital for early-stage companies, offering an alternative to more traditional forms of fundraising. This trend signals the growth of Cyprus as a hub for tech-driven innovation and entrepreneurship.

Cyprus Showcases Its Business Advantages At 2024 London Event

by THEFUTURE.TEAM

December 5, 2024

Cyprus seized the opportunity to present itself as a premier destination for high-net-worth individuals (HNWIs) at the ‘Non-Doms: The Cyprus Private Client Offering Gathering 2024,’ held at the iconic London Stock Exchange. The event attracted over 150 participants, including professionals from the UK and experts from Cyprus, all gathering to explore Cyprus’ business advantages.

The gathering aimed to strengthen ties between the international investment community and Cyprus, highlighting the island’s competitive tax regime and wealth management opportunities. The central focus was Cyprus’ strategic appeal for non-domiciled residents, particularly as changes to the UK’s tax framework prompted many HNWIs to reconsider their tax and residency options.

A Shift in Global Tax Dynamics

With the UK government’s decision to abolish its long-standing non-dom tax regime, Cyprus stands poised to become an attractive alternative. The UK’s new residence-based system, set to take effect in April 2025, could direct more wealthy individuals and businesses toward jurisdictions like Cyprus, known for its fiscal benefits and strategic location in the Eastern Mediterranean.

Marios Tannousis, CEO of Invest Cyprus, and George Pantelis, former Director General of the Finance Ministry, addressed how Cyprus is uniquely positioned to capitalize on this shift. Their presentations underscored the island’s stability, tax benefits, and favorable environment for both personal wealth and corporate operations.

Key Highlights from the Conference

One of the highlights of the event was the panel discussion titled “Cyprus: A Destination of Choice for HNWIs, Their Families, Companies, and Employees.” Experts like Christos Neokleous, Consultant at Tsirides Law, outlined the simplicity of doing business in Cyprus, emphasizing the ease of setting up companies and understanding the regulatory environment.

Andreas Andronicou, Partner at PwC Cyprus, discussed the significant tax advantages for both individuals and corporations looking to operate from Cyprus, especially within the European and global markets. The country’s legal framework, based on the English Common Law system, was another focus, with Melina Dionysiou, Director/Head of Corporate at Totalserve, explaining its business-friendly aspects.

A Strategic Business Environment

Cyprus’ status as an international business hub is further reinforced by its competitive tax rates, skilled workforce, and advantageous legal system. These factors, combined with its prime location, make it an ideal choice for companies seeking to expand into new markets. Moreover, the conference highlighted the island’s growing appeal to foreign investors and companies, with opportunities ranging from tax-efficient corporate structures to residency-by-investment programs.

As the world moves toward greater tax competitiveness, Cyprus is keen to attract international clients seeking efficiency and flexibility. This year’s event comes at a crucial moment, as the UK’s changes to its non-dom tax regime create new openings for Cyprus to solidify its position as a leading destination for wealthy individuals and businesses.

Global Appeal for High Net-Worth Individuals

Cyprus’ tax benefits, wealth protection solutions, and modern legal structures were the focal points of the final panel, which also explored investment opportunities on the island. Experts such as Sara Eojourian, Head of Wealth Management at Athlos Capital, discussed the array of investment solutions that Cyprus offers, particularly for HNWIs. These services not only provide personalized wealth management but also come at competitive costs, making them an attractive option for international investors.

Conclusion: Cyprus, an Attractive Option for International Clients

In conclusion, Cyprus is increasingly recognized as a top destination for both high-net-worth individuals and international businesses. Thanks to its competitive tax system, business-friendly legal environment, and strategic location, Cyprus is solidifying its status as a prime hub for foreign investment. As global tax policies continue to evolve, Cyprus remains well-positioned to provide attractive opportunities for clients and businesses seeking stability, efficiency, and significant fiscal benefits.