Sergey Kartashov, the Chief Executive Officer (CEO) of Generation Partners Ltd. shares a huge optimism towards the future of Cyprus in the field of IT asset management. He talks about the selection procedure of new It projects for potential investments. According to his vision, Cyprus is a safe island destination for the intellectual property business and Information Technology.
Cyprus is considered as a prominent location in terms of managing IT assets. The strongest companies in the world have their asset management offices on the island to increase and preserve the assets at an individual, group, partner, and family levels. According to Sergey Kartashov, Cyprus has the potential to become a new Silicon Valley.
Role of IP Box in the development of Cyprus
Sergey Kartashov, the CEO of Generation Partners, said that IP Box was the main reason behind the interest of the intellectual property companies in this jurisdiction. The revenue of the objects is only subject to taxation under this tax incentive regime. Sergey Kartashov said, “This has pushed foreign companies to relocate their offices and staff during the last year.”
The local IT industry of Cyprus became more developed in recent time due to the introduction of foreign companies and offices in the region, according to the CEO Generation Partners. The savings in the future are dependent on the turnover potential of a stock. The intelligent companies afford upfront costs if they see huge turnover potential in their products.
According to Kartashov, the infrastructure of Limassol developed rapidly in recent time due to the arrival of more IT companies and investments. According to business predictions, Cyprus has the potential to compete with Silicon Valley. Cyprus has the offices of the strongest companies at the moment. The employees of these companies use their products to lift the mood of the market.
Asset Management companies focus on Cyprus
Cyprus has been focused by the prominent IT asset management companies across the world. They know the potential of the market and its products. These asset management companies provide independent analysis related to investment decisions. They work on the development of a rewardable investment strategy.
The financial institutions require the collection and preparation of several documents to enter the market. These asset management companies help them to negotiate with the banks in order to reduce the amount of bank commissions. The main focus of Generation Partners is to target startups with a yield of 20 percent or more. It is a challenging task for the company, but it works on a firm strategy of combining classic investments and highly profitable projects.
Sergey Kartashov said, “Every month, we analyze more than 30 companies. Usually, only 0.5-1 percent of these companies are interesting enough for investing.” The company works on the principle of examining a project and sharing information about it with the clients. Kartashov said, “At this stage, our task is to collect the maximum information about the startups and consult the clients.” Kartashov shared the names of some exciting startups examined by them recently including BNext, a Spanish bank startup, Majelan, a French podcast service, and Psious, a VR platform. The company found these startups interesting on the base of their information collection, analysis, and consultation with the clients, the CEO added.