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Cyprus Draws War Capital
Cyprus has become an alternative destination for Israeli companies and businesspeople as security and economic concerns have grown since the war in Gaza and Lebanon began. A survey conducted in March found that about 31% of technology companies were considering moving their operations abroad. The island has attracted more than 500 international and Israeli technology companies, drawn by its geographic proximity, lower office and tax costs, the ease of bringing in employees, and its membership in the European Union. The trend extends beyond technology to real estate, tourism and financial services, while some factories are considering moving their production lines there.
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