Cybarco: Business Likes Investing in Urals through Cyprus

Russian businesspeople find it more convenient to invest in the Urals’ economy through Cyprus. This was a hypothesis voiced by head of the Cyprus-based construction company Cybarco Ural representation Vladislav Andreyev, who looked into the data carried by Tyumenstat, the company’s press service reports.

According to the statistics agency, 99.7% of investments Tyumen Region (excluding Khanty-Mansiysky and Yamalo-Nenetsky Autonomous Regions) receives come from Cyprus. All in all, these went up by 209.1 times, that is, from $26.3m to $5,472.4m.

It is remarkable, Andreyev notes, that the number of people applying to register their business in Cyprus is growing alongside with the amount of investments inflow in the Urals. 1,425 applications were submitted in January 2012 alone, which was 1.9% more than a year earlier. At the same time, 1,442 applications were submitted in December 2011 and 1,708 applications were submitted in November 2011. These are the data reported by Cyprus Business Registration Service.


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