PAPHOS, Cyprus – Cyprus’ attraction for IT companies has lured a major Czech software company, JetBrains, which said it has set up a headquarters and relocated 220 staff members to Paphos and Limassol and plans to add 80 more.

The company develops tools for software developers and project managers, the move drawing accolades from Invest Cyprus amid hopes that other companies would find the island country attractive as well.

Invest Cyprus Chief Executive Officer, George Campanellas said it’s “very keen to help companies as they scale and grow, and it’s encouraging to see employers such as JetBrains realize that Cyprus gives them the ability to expand further,” said The Cyprus Mail.

“The investment by JetBrains is also further evidence that Cyprus is becoming a leading destination for tech companies in the European Union,” he added with the COVID-19 pandemic waning and investors looking around.

“Technology companies are attracted to Cyprus because of the incentives offered and the overall environment are both conducive to growing our operations and clientele,” he said.

JetBrains CEO Maxim Shafirov said that, “The support we received from Invest Cyprus means everything was made much easier, and the transition for the company and its employees has been smooth.”

Campanellas added that “as the national authority responsible for attracting foreign investment and providing certainty to foreign companies operating in Cyprus, we are dedicating all our energy to this mission. Despite adverse international conditions, the ICT output exceeded 1.9 billion euros in 2021, and we are optimistic that it will be even higher by the end of this year.”

Founded in 2000, JetBrains, said its website, “strives to make the strongest, most effective developer tools on earth.” Their tools speed up production by automating routine checks and corrections, freeing developers to grow, discover and create, the paper said.