In its September 2026 Limassol Issue, GOLD magazine featured George Economides, Vice Chairman of Totalserve Management Ltd, discussing Limassol’s transformation into an international business hub and the evolution of its professional services sector.
The interview is reproduced below as published.
A City in Transformation
George Economides, Vice Chairman of Totalserve Management Ltd, reflects on Limassol’s transformation from a port-oriented commercial centre into an international business hub, and the evolution of the professional services sector alongside it.
The Change I Would Like to See in Limassol
I would like to see Limassol’s continued economic growth go hand in hand with an equally strong focus on quality of life. This means improving public transport and traffic management, promoting thoughtful urban planning and ensuring greater availability of good-quality, reasonably priced housing. The next chapter should ensure that this success benefits the wider community and makes the city an even better place to live, work and invest in. I often say that we are very fortunate to live in a place like Limassol!
On a more personal note (and slightly outside the usual business discussion), I very much look forward to the day when Limassol Zoo is transformed into a beautiful and green public park for everyone to enjoy!
Totalserve has been headquartered in Limassol for more than five decades. How has the city’s transformation influenced the evolution of the company and its services?
Totalserve’s history is closely intertwined with the transformation of Limassol. From a predominantly port-oriented commercial centre, the city has evolved into an international business and professional services hub. As Limassol became more internationally connected, so did the needs of our clients. This encouraged Totalserve to evolve from a traditional corporate and fiduciary services provider into a broader professional services group, supporting international businesses and individuals with increasingly sophisticated, regulated and technology-driven requirements. The city’s international character has also enabled us to promote Cyprus as an attractive destination for both businesses and individuals, highlighting the advantages it offers for relocation, investment and international structuring.
What, in your view, are the city’s strongest competitive advantages today?
Limassol’s greatest advantage is the combination of international connectivity, a strong professional-services ecosystem and quality of life. Its remarkable concentration of legal, accounting, fiduciary, financial, technology and shipping expertise has created an environment where international businesses can establish and grow efficiently. Its location, infrastructure, access to talent and cosmopolitan character further strengthen its appeal. Perhaps most importantly, Limassol has developed a genuinely international business culture while retaining the accessibility and personal relationships that are characteristic of Cyprus.
What more needs to be done to ensure that Limassol remains competitive?
The next stage of Limassol’s development needs to focus on sustainable growth and quality of life. It is already a cliché but transport infrastructure and traffic management require continued investment, while housing affordability has become increasingly important for both local residents and international professionals. Public transport, schools, healthcare, digital infrastructure and connectivity should evolve in parallel with the business community. Competitiveness is ultimately not only about attracting companies; it is about creating a city where people genuinely want to live and build their lives.
The professional services sector has traditionally been an important pillar of Limassol’s economy. How is it changing in response to increased regulation, greater transparency requirements, digitalisation and the evolving needs of international clients?
The sector has become far more sophisticated. Increased regulation, transparency and international reporting standards have transformed the role of professional advisers from primarily administrative service providers into trusted strategic partners. For firms such as Totalserve, the challenge is to embrace technology and automation while retaining human judgement and expertise. At the same time, it is important to remain focused on each one’s core areas of expertise, rather than trying to provide every service in-house, leaving greater scope for collaboration with other professional firms in Cyprus.
