Keve calls for review of Cyprus competitiveness after reported BrainRocket office closures

Limassol, Cyprus. The Cyprus Chamber of Commerce and Industry (Keve) has called for a serious review of Cyprus’ competitiveness following reports that technology company BrainRocket closed its Limassol offices and offered most remaining employees relocation packages abroad.

Keve said the reported scaling back or possible termination of BrainRocket’s Cyprus operations should prompt wider discussion about the conditions facing businesses on the island.

Call for public dialogue

Keve said it would not be appropriate to draw conclusions about the company’s decisions without official and comprehensive information from BrainRocket.

However, it said an event of this scale should not go unnoticed and should not exclude serious public dialogue on the country’s competitiveness.

Reported withdrawal from Cyprus

BrainRocket has reportedly closed all its Limassol offices and other leased facilities over the past month, with signs removed from at least two locations.

Employees still working in Cyprus were reportedly instructed to work remotely until further notice, while most were offered relocation packages to Spain or other countries where the company operates.

The developments follow a year-long withdrawal that began in summer 2025, when BrainRocket started transferring a substantial part of its operations from Limassol to Valencia.

The company employed around 1,500 people in Cyprus at the time, with more than 1,000 understood to have been affected by the restructuring. Hundreds were offered relocation packages, mainly to Valencia, while a smaller part of the operation was expected to move to Malta.

Cyprus business advantages

Keve said Cyprus retained significant advantages as a business and investment destination, including European Union membership, its professional services sector, skilled workforce and geographical position, as well as its growing technology and innovation sector.