BrainRocket closes Limassol offices as Cyprus faces investment and tourism concerns

Limassol, Cyprus. BrainRocket has closed its Limassol offices and offered most remaining employees relocation abroad, according to information published by Politis. Separately, AmCham Cyprus warned that Pillar Two tax implementation could affect investment, while tourism arrivals recovered during the summer season.

BrainRocket withdrawal

All BrainRocket offices and other leased facilities in Limassol were closed during the past month, including premises at at least two locations, Politis reported on Tuesday.

Company signs were removed from the buildings, and employees still based in Cyprus were instructed to work remotely until further notice. Most were offered relocation packages to Spain or other countries where the company has offices.

The closures follow a year-long withdrawal that began in the summer of 2025, when BrainRocket started transferring much of its business from Limassol to Valencia.

Tax framework concerns

The American Chamber of Commerce in Cyprus said it supported Cyprus’ commitment to international tax cooperation, transparency and compliance with OECD and EU frameworks.

However, AmCham Cyprus called for an evidence-based and balanced approach to implementing the OECD/G20 Pillar Two international tax framework, saying the process should take account of Cyprus’ competitiveness.

The chamber said it had received concerns from international investors, multinational companies, business leaders and professional service providers over the implications of evolving Pillar Two rules for future investment decisions.

It said some US-headquartered multinationals could reconsider expansion plans, select alternative jurisdictions or decide against establishing operations in Cyprus if the country’s competitive position weakened.

Tourism arrivals

Cyprus tourism arrivals recovered strongly during the peak summer season, narrowing the gap with last year’s record performance after severe disruption in March and April, according to a Eurobank Research analysis published on Tuesday.