Technology Giant Amazon Establishes a Presence in Cyprus
It has recently been reported by Politis and other Cypriot newspapers that tech giant Amazon will establish a presence in Cyprus. There has not yet been an official announcement made by Amazon but in accordance with the report Amazon’s Management Services will relocate to Nicosia in Cyprus opening up employment positions and other investments. In accordance with the public records of the Company Registrar of Cyprus, it seems that indeed an entity named AMAZON DATA SERVICES (CYPRUS) LIMITED has already been incorporated.
Amazon is one of the biggest companies in the world focusing on e-commerce, cloud computing, digital streaming, and artificial intelligence. It has more than 100M subscribers worldwide, and it is the largest internet company by revenue. The market capitalisation of Amazon reached over US$1 trillion in early February 2020 after the announcement of the fourth quarter 2019 results. Amazon employs more than 1,200,000 persons.
In addition, Phileleutheros newspaper reported in December that at least 3 technology giants are in the process of creating a physical presence in Cyprus with offices and a large number of employees.