Paphos, Cyprus. Cyprus-based entrepreneur Yannik Schmidt-Grimm said building his business from Paphos shaped his strategy, scaling approach and technology focus as his group expands across Europe.
Paphos operating environment
Speaking to the Cyprus Mail, Schmidt-Grimm, founder of dreamfactory Hospitality and guest automation platform Foyera, said relocating to Paphos provided an operating environment that allowed him to focus on execution rather than external pressures.
“Paphos gave me something most startup environments don’t, clarity,” he said.
“No distractions, no investor pressure, no networking noise, you just build,” he added.
Legal and tax framework
Schmidt-Grimm said Cyprus’ legal and tax framework, combined with EU membership, offered a stable base for operating across multiple European markets.
“The legal framework is solid, the tax environment is serious, and EU membership means every contract operates on familiar ground,” he said.
“For someone building across Europe, that stability matters more than being in a flashy capital,” he added.
Funding and growth model
Schmidt-Grimm said he founded the company in 2021 with around €5,000 in personal capital and no external investors, and that decision continues to shape its growth model.
“We never optimised for a funding round, we optimised for cash flow,” he said.
He said each property in the group’s portfolio is required to sustain itself financially and contribute to further expansion.
How do you think a company’s location influences its ability to scale across multiple markets?