Punin’s interview in Kathimerini
- What made you come to Cyprus and invest here?
I first came to Cyprus for holidays and was captivated by its beauty, the warmth of its people, and its family-oriented way of life. However, what truly impressed me was the resilience of the island following the economic crisis of 2013. Despite the challenges, Cyprus bounced back with strength and determination, and I saw an opportunity to be part of its growth.
In 2019, I made the decision to move here with my family, wife and children and establish Punin Group. I believed that Cyprus, especially Limassol, had untapped potential in various sectors such as real estate, hospitality, health and beauty, retail, entertainment and others. My vision was to introduce innovative concepts that would elevate the local industry and create something unique. Since then, we’ve grown Punin Group into a multifaceted business, development, spanning hospitality, retail, office spaces, and, of course, wine production.
Cyprus felt like the perfect place to bring my ideas to life, and I am proud of the impact we are making. Our ventures are a reflection of my passion for quality and innovation, and I am excited to continue contributing to the vibrant business landscape here.
- What is the most attractive reason that Cyprus offers to investors?
Cyprus is an incredibly welcoming country, and I am deeply grateful for the life my family and I have built here. The island offers a unique balance—its proximity to the sea, the safety, and the sense of community make it a perfect place to live and do business. Limassol, in particular, has been ideal for us with its vibrant, cosmopolitan atmosphere.
Beyond its corporate tax structure, Cyprus provides an exceptionally attractive environment for investors. The country’s well-regulated framework creates opportunities for businesses to thrive, fostering innovation and entrepreneurship. While there are areas where improvement is needed, it’s clear that the government and local authorities are committed to progress. Their efforts to support business growth not only benefit the economy but also enhance the quality of life for everyone on the island.
This commitment to nurturing a business-friendly environment is one of the key reasons I chose to invest here. Cyprus isn’t just a place to do business—it’s a place to grow and innovate in a stable and supportive environment.
- Do you believe that our country has a friendly environment for business? What are its advantages comparing with other competitive investment destinations?
Absolutely, I believe Cyprus offers a very business-friendly environment. One of the most significant advantages is the island’s strategic location at the crossroads of Europe, Asia, and Africa, making it an ideal gateway for international trade and investment. The country also has a robust infrastructure, and its competitive corporate tax rates and investment incentives make it an attractive destination for global businesses.
In addition to this, Cyprus boasts a highly educated, multilingual workforce that makes it easy to establish and scale operations here. The ease of doing business is another key advantage. The regulatory environment is transparent and efficient, allowing for streamlined processes when setting up businesses or expanding existing ones.
- Do you have any other investments in mind or are scheduling to start apart from F&B and HORECA? Do you have any other sectors that you are interested in?
While Punin Group has already established a strong presence in F&B and HORECA, my vision goes beyond these sectors. I firmly believe in Cyprus’ potential to grow and thrive, and our current focus is on transformative real estate projects that will contribute to the island’s development.
We are actively working on a range of ambitious ventures, including the development of housing complexes, apartment buildings, and commercial retail spaces. These projects aim to enhance the local infrastructure, create new opportunities for businesses, and improve the quality of life for residents.
This direction aligns with my principle, “We make Cyprus better,” by not only shaping the present landscape but also preparing for a sustainable and prosperous future. Additionally, I’m always exploring innovative sectors that can contribute to Cyprus’ growth, combining a respect for the island’s unique character with modern and forward-thinking practices.
- You mentioned recently that one of the top priorities of Punin Group is to make Cyprus a leading culinary destination and place it in the international map. How do you plan to achieve that? Are you already in contact with any local institutions in Cyprus to help them?
The food and beverage industry in Cyprus, especially within dining and entertainment, offers immense potential for growth. Given the island’s status as a popular tourist destination, there’s a unique opportunity to not only enhance the visitor experience but also to elevate the quality of life for the people living here. For us, it’s about much more than providing high-quality food and drinks—it’s about curating exceptional, memorable experiences that will resonate with both tourists and the local community.
Our approach is to set new standards of excellence in service, innovation, and culinary creativity. By introducing inventive concepts, high-end products, and immersive experiences, we aim to position Cyprus as a top-tier culinary destination that stands out on the global stage. Whether it’s through fine dining, casual concepts, or unique fusion ideas, we want to create spaces that spark excitement and encourage people to see Cyprus as a place where food and culture truly come alive.
Another area where we see great potential is in developing venues that combine dining with entertainment. These types of multi-dimensional spaces not only attract visitors but also contribute to the island’s vibrant cultural scene and nightlife. These venues become a place where people can gather, celebrate, and experience the essence of Cyprus in new and exciting ways.
To achieve these ambitions, we are in active dialogue with local institutions, government bodies, and tourism agencies to ensure that our projects align with Cyprus’s broader vision of becoming a global culinary destination. We believe that collaboration with these stakeholders is key to creating lasting, sustainable change, and to fostering an environment where both local businesses and the community can thrive.
By investing in these areas, we are not just enhancing the tourism industry; we are enriching the overall lifestyle in Cyprus, creating a ripple effect that touches every part of the island’s vibrant culture.
- Do you think that the practices of the institutions and the government in Cyprus to attract more foreign investments in Cyprus is leading to positive results? Do you have any recommendations on what should be done to make things even better and attract more investors?
The government’s commitment to improving the regulatory environment and investing in infrastructure is creating a more conducive atmosphere for business growth.
That said, there are always areas where further improvements can be made to continue driving foreign investment. For example, enhancing support for startups and tech-driven businesses could attract a new wave of innovative companies to Cyprus.
Additionally, while Cyprus has made great progress in building a strong infrastructure, continuing to invest in digitalization and sustainability initiatives would put Cyprus ahead of the curve.
- We realize that the core of your businesses are in Limassol. Do you have any plans to expand to the whole of Cyprus or even abroad?
While our headquarters are based in Limassol, which has been an ideal location for Punin Group’s growth, we are actively exploring opportunities to expand our presence in other cities across Cyprus. We believe that the diverse cities on the island each offer unique opportunities, and we are excited to bring our concepts and experiences to new audiences in places like Nicosia, Larnaca, and Paphos.