Technology

Sergey Kartashov talks about why Cyprus is best for relocating IT companies

Published

4 years ago

February 28, 2021

Sergey Kartashov, the CEO of Generation Partners, has a huge experience of working as head of an IT asset management company. He finds Cyprus as one of the best countries in the world for IT industry and believes it is also best for relocating IT companies, especially from Eastern Europe.

Factors that make a Country Attractive for Relocation

There are dozens of factors that make a country attractive to IT companies from all across the world. In recent years, Cyprus welcomed IT companies from Eastern Europe and various other parts of the world. According to Sergey Kartashov, the most important factors in this regard are tax policy, legislation, cost of living, infrastructure, and the existence of a developed IT community.

Based on these factors, countries are divided into various categories. The US, Lithuania, Estonia, the Netherlands, Germany, and Cyprus are among the most comfortable countries for IT. On the other hand, Poland, the Czech Republic, Portugal, and many others are in the second category. They provide a comfortable environment for IT. However, there are fewer facilities in these countries as compared to the countries present in the first category. Plus, some communities prefer particular places simply because they can find friends from their native country there and, therefore, can easier adapt to new conditions. This way, Cyprus has become the best destination for relocating IT companies, especially, for the companies based in Eastern Europe.

Tax Policy and IT Legislation in Cyprus

Cyprus is one of the best countries in the world in terms of favorable IT tax policy and legislation. It is very simple to register a company on this island. “The most famous benefit of Cyprus in the world is the flexible taxation system and the implemented IP-Box regime,” says Sergey Kartashov. It offers the lowest corporate tax rate on net income, 12.5%, in the world. The companies only have to pay the Value Added Tax (VAT) of 19% if they sell a product or service to an EU resident. However, there is no VAT if the purchaser is a non-EU resident.

Other Benefits offered by Cyprus to IT Companies

It is very easy to reach the island from any other country located in Eastern Europe. The average flight time from any Eastern European county to Larnaca or Nicosia is less than three hours. Similarly, the flight timing from the island to any other EU country is the same as for Eastern European countries. “It allows the company’s management and its employees to quickly get home and also to other countries to resolve business issues,” notes Sergey Kartashov.

The relocation of foreign companies to Cyprus injected huge money into the economy of the island. It is helping to actively develop its infrastructure to improve facilities for the IT companies. The local real estate market is developing continuously over time. The residential and office rent costs here are very low as compared to other countries. A two-bedroom apartment costs $1300-$1400 per month in the center of the city. The island also has affordable health and schooling facilities for those who come here with their families. Last but not least, Cyprus has a great community of IT developers. It is famous for having a community of game developers and Russian-speaking developers.

Related Topics:Cyprus relocating IT companies Sergey Kartashov

Up Next

OnePlus 9R joining three different products on March event

Don't Miss

Sony is closing down Knack and ‘The Last Guardian’ developer Japan Studio

Brand Buzz

Technology

Microsoft Expands Copilot Voice and Think Deeper

Published

2 months ago

February 25, 2025

Archana Suryawanshi

Microsoft Expands Copilot Voice and Think Deeper

Microsoft is taking a major step forward by offering unlimited access to Copilot Voice and Think Deeper, marking two years since the AI-powered Copilot was first integrated into Bing search. This update comes shortly after the tech giant revamped its Copilot Pro subscription and bundled advanced AI features into Microsoft 365.

What’s Changing?

Microsoft remains committed to its $20 per month Copilot Pro plan, ensuring that subscribers continue to enjoy premium benefits. According to the company, Copilot Pro users will receive:

Preferred access to the latest AI models during peak hours.
Early access to experimental AI features, with more updates expected soon.
Extended use of Copilot within popular Microsoft 365 apps like Word, Excel, and PowerPoint.

The Impact on Users

This move signals Microsoft’s dedication to enhancing AI-driven productivity tools. By expanding access to Copilot’s powerful features, users can expect improved efficiency, smarter assistance, and seamless integration across Microsoft’s ecosystem.

As AI technology continues to evolve, Microsoft is positioning itself at the forefront of innovation, ensuring both casual users and professionals can leverage the best AI tools available.

Stay tuned for further updates as Microsoft rolls out more enhancements to its AI offerings.

Technology

Google Launches Free AI Coding Tool for Individual Developers

Published

2 months ago

February 25, 2025

Archana Suryawanshi

Google Launches Free AI Coding Tool for Individual Developers

Google has introduced a free version of Gemini Code Assistant, its AI-powered coding assistant, for solo developers worldwide. The tool, previously available only to enterprise users, is now in public preview, making advanced AI-assisted coding accessible to students, freelancers, hobbyists, and startups.

More Features, Fewer Limits

Unlike competing tools such as GitHub Copilot, which limits free users to 2,000 code completions per month, Google is offering up to 180,000 code completions—a significantly higher cap designed to accommodate even the most active developers.

“Now anyone can easily learn, generate code snippets, debug, and modify applications without switching between multiple windows,” said Ryan J. Salva, Google’s senior director of product management.

AI-Powered Coding Assistance

Gemini Code Assist for individuals is powered by Google’s Gemini 2.0 AI model and offers:
Auto-completion of code while typing
Generation of entire code blocks based on prompts
Debugging assistance via an interactive chatbot

The tool integrates with popular developer environments like Visual Studio Code, GitHub, and JetBrains, supporting a wide range of programming languages. Developers can use natural language prompts, such as:
“Create an HTML form with fields for name, email, and message, plus a submit button.”

With support for 38 programming languages and a 128,000-token memory for processing complex prompts, Gemini Code Assist provides a robust AI-driven coding experience.

Enterprise Features Still Require a Subscription

While the free tier is generous, advanced features like productivity analytics, Google Cloud integrations, and custom AI tuning remain exclusive to paid Standard and Enterprise plans.

With this move, Google aims to compete more aggressively in the AI coding assistant market, offering developers a powerful and unrestricted alternative to existing tools.

Technology

Elon Musk Unveils Grok-3: A Game-Changing AI Chatbot to Rival ChatGPT

Published

2 months ago

February 19, 2025

Archana Suryawanshi

Elon Musk Unveils Grok-3: A Game-Changing AI Chatbot to Rival ChatGPT

Elon Musk’s artificial intelligence company xAI has unveiled its latest chatbot, Grok-3, which aims to compete with leading AI models such as OpenAI’s ChatGPT and China’s DeepSeek. Grok-3 is now available to Premium+ subscribers on Musk’s social media platform x (formerly Twitter) and is also available through xAI’s mobile app and the new SuperGrok subscription tier on Grok.com.

Advanced capabilities and performance

Grok-3 has ten times the computing power of its predecessor, Grok-2. Initial tests show that Grok-3 outperforms models from OpenAI, Google, and DeepSeek, particularly in areas such as math, science, and coding. The chatbot features advanced reasoning features capable of decomposing complex questions into manageable tasks. Users can interact with Grok-3 in two different ways: “Think,” which performs step-by-step reasoning, and “Big Brain,” which is designed for more difficult tasks.

Strategic Investments and Infrastructure

To support the development of Grok-3, xAI has made major investments in its supercomputer cluster, Colossus, which is currently the largest globally. This infrastructure underscores the company’s commitment to advancing AI technology and maintaining a competitive edge in the industry.

New Offerings and Future Plans

Along with Grok-3, xAI has also introduced a logic-based chatbot called DeepSearch, designed to enhance research, brainstorming, and data analysis tasks. This tool aims to provide users with more insightful and relevant information. Looking to the future, xAI plans to release Grok-2 as an open-source model, encouraging community participation and further development. Additionally, upcoming improvements for Grok-3 include a synthesized voice feature, which aims to improve user interaction and accessibility.

Market position and competition

The launch of Grok-3 positions xAI as a major competitor in the AI chatbot market, directly challenging established models from OpenAI and emerging competitors such as DeepSeek. While Grok-3’s performance claims are yet to be independently verified, early indications suggest it could have a significant impact on the AI landscape. xAI is actively seeking $10 billion in investment from major companies, demonstrating its strong belief in their technological advancements and market potential.