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Welcome to Stambouli Cyprus Established in Nicosia, Cyprus in 1984 as an offshore Corporation, Stambouli Enterprises (Cyprus) Ltd acts as the pivot and the General Head Office for the Stambouli operation, centralizing purchases for the different offices, though each company is fully autonomous in its management. Background history: during the civil war in Lebanon mid 1975, the Lebanese Company, The Stambouli Enterprises had to moved temporarily its operation to three countries where the Group already had some financial interests: Cyprus, which was close to Lebanon, France where most of our suppliers where established and South Africa where we had just obtained an exclusive import permit for leisure equipment. In the very early stages, the Company moved the majority of its staff out of Lebanon to Cyprus, due not only to the conveniency of being close to Lebanon but also to pursue part of the activity, such as the operation of maritime routes for passenger transport between Lebanon and the port of Limassol in Cyprus, as indeed Beirut airport was closed and remained closed for a few years. At that time, the Company was operating 3 vessels, the Dona Pila, the .......... and the ............ Cyprus itself was coming out of very turbulent period which ended up by the country being split in two: Northern Cyprus occupied by the Turks and Southern Cyprus, Greek oriented. The Company had very good customers in the Greek part of Cyprus and was able to continue servicing them. A Cypriot Company was quickly established in Nicosia Stambouli & Thomas (Cyprus) Ltd in order to develop the local market in the leisure field. Stambouli & Thomas remained in operation until the decision was taken to establish an offshore company to handle our main activity directed towards export and management of our foreign companies. Therefore in 1984, the Company was established as Stambouli Brothers (Cyprus) Ltd and changed its name to Stambouli Enterprises (Cyprus) Ltd a few years later to mark its international development. From 1984 onwards, the Company did not have anymore any local activity in Cyprus, directing its efforts mainly in Europe and in the Eastern Countries which were still "closed" to foreigners. Recent history: Therefore, as from 1984, the Company started its offshore operation which it is still successfully carrying out 20 years later. Due to its diversification, two other offshore companies were incorporated: Countertrade (Cyprus) Ltd and Cami Development Ltd. In the early stages of the offshore operation, the Company operated Casino Cavtat in Dubrovnik, Yougoslavia (at the time) and floating casinos on Louis Passenger vessels, Prinessa Marissa, Princessa Cypria, ............., ............, ........................., while at the same time taking care of its casino operation in Lebanon, Casino du Liban, Sunset and Far West. At the same time the Company was entering the so-called "Eastern Block", mainly Bulgaria where it was allocated large contracts by the Ministry of Tourism for the supply of leisure goods, and equipment of summer beaches and winter ski resorts. Contemporary history: Following the development of its activities, the Company directed its efforts towards Bulgaria, Ukraine and Russia. In the early 90's a casino was set up in Odessa (Ukraine), Casino Richelieu and a distribution Company started its operation (also in Odessa), Odnicos. In Bulgaria, as soon as foreigners were allowed to invest, the Company incorporated Stambouli Bulgaria Ltd and very quickly became the major importer-distributor in the country. During the same decade, the Company entered the Russian market as Post Shop Ltd, specializing in the direct marketing activity, which was totally unknown in this part of the world. At the eve of the third millenium, Stambouli Bulgaria Ltd was constituted as a family trust, Stambouli Family Trust and its management handed over to the trust, freeing the management to concentrate on other activities. At the end of the decade the Company withdrew from its land-based casinos in Lebanon, Bulgaria, Romania and Ukraine, as well as from its floasting operation in order to concentrate on its direct marketing activities. In the years 2000: the Company carried out its geographical expansion plans. This is how a Company was setup in Ukraine, PostShopping Ltd, in Armenia, Postshop Ltd, and in Algeria, Postshop Algeria Ltd and Imapex Algeria Ltd, and grounds set up for intensive market researches in Kazakhstan and Bielo Russia. At the same time, the Company was intensifying its operation in Russia with Post Shop Ltd, Advert Ltd and Gloria Ltd, and with Countertrade SAE in Egypt. Therefore, in the first years of the third millenium, Stambouli Enterprises (Cyprus) Ltd is now mainly and directly involved in supplying its foreign operation with goods and controling its management. The Company now operates as the central Purchase office for all countries where it is established, selecting and controling new products to market and assuring their financial contro, while overseeing the individual local marketing policies of each company. At the same time, the Company oriented itself into manufacturing and subcontracting a number of products under the brand name of Via Tonic, not only in view of launching the brand on all markets on which it is active, but also in view of a world-wide distribution. Its 40-years+ experience in export taught her how to adapt to each individual market with its local policies, laws, rules and regulations, and this experience is revealing to be invaluable for the development of this new field. Stambouli Enterprises (Cyprus) Ltd as an offshore company, is acting therefore today as the purchase office for the group, and has accordingly adopted the policy of minimizing its profits and expenses in order to permit to each individual company to maximize the results of their operation.
Cyprus, the Country: Cyprus is a former British colony that achieved independence in August 1960. Since mid-1974, the Northern part of the Island, representing 37% is under separate Turkish Cypriot administration, the "Turkish Republic of Northern Cyprus" which proclaimed unilaterally independence in November 1983. Apart from Turkey which recognized the "Turkish Republic of Norther Cyprus", this part of the Island in not recognized internationally. Cyprus is entering the European Union in May 2003 as a full member. Size: Cyprus is third largest island in Mediterranean, after Sicily and Sardinia. 9,251 square kilometers, of which 1,733 square kilometers forested. Length, 225 kilometers; maximum breadth, 96.5 kilometers. Situated in eastern Mediterranean, about 386 kilometers north of Egypt, 97 kilometers west of Syria, and 64 kilometers south of Turkey. Topography: the principal topographic features Troodos Mountains: dry limestone hills including Kyrenia Range; a broad inland plain, the Mesaoria; and narrow coastlands. The highest peak of Troodos Mountains, Mount Olympus, rises to 1,952 meters. Winter rivers starting in the Troodos flow rapidly in all directions. Two large salt lakes; many springs along the sides of Troodos Mountains and Kyrenia Range. Climate: Mediterranean, with cycle of hot, dry summers from June to September, rainy winters from November to March, and brief spring and fall seasons between. Substantial differences, both daily and seasonally, in temperatures of coastal and inland areas. Population: Republic of Cyprus estimate of 575,000 in the government-controlled area at the end of 1990. Turkish Cypriots estimate their number at about 171,000 at mid-1990, about 40,000 higher than estimates of the Republic of Cyprus. Difference may stem in part from the tens of thousands of Turks who settled on the island after 1974. There was no de facto census since 1960. Languages: Three principal languages: Greek, Turkish, and English. Knowledge and use of Greek and Turkish as second language, never common, declining further owing to de facto partition of the Island; English is the standard second language for Cypriots of both ethnic communities. Education and Literacy: The Republic of Cyprus level of education is high, with a literacy rate of 99 percent. Illiteracy is confined to the old. Free and compulsory education are offered at preprimary, primary, and at secondary levels in academic and technical vocational high schools. Higher education is available at specialized schools and at one university. Many Greek Cypriots study at foreign universities or Colleges, mainly in London, England. [Turkish Cypriots established a parallel system and also have a high literacy rate. Although several universities have been in operation by 1990, some Turkish Cypriots are still receiving a higher education abroad.] Health: The Republic of Cyprus health care is provided both through public heath service administered by Ministry of Health and the private sector. Lower income families are entitled to free medical care and middle-income families to care at reduced rates. In 1990 six general hospitals and twenty-one rural health centers were in operation. Life expectancy averaged 73.9 years for males and 77.8 years for females in 1990. [Turkish Cypriots also have an extensive health care system administered by Ministry of Health and Social Welfare. In late 1980s, five state and four private hospitals and ten public health centers in addition to many clinics were in operation. Life expectancy averaged 70 years for males and 72 years for females in 1979.] Economy: Gross Domestic Product (GDP): US$5.3 billion in 1990; per capita gross national product (GNP) US$7,200 in 1988. GDP grew at an average annual rate of 8.4 percent between 1976 and 1986, with slight downturn in late 1980s. [Turkish Cypriot GNP: US$425.4 million in 1989; per capita income US$25l3. GDP grew at an average annual rate of 6.4 percent between 1977 and 1988; growth rate in 1989 was 7.1 percent.] Manufacturing: Accounted for about 16 percent of GDP and 20 percent of employment in late 1980s. Wide variety of light manufacturing, with clothing and foods the most important products. Clothing is the most important export activity. Dismantling of tariff protection and low Third World wages challenged the subsector in the 1990s. [Turkish Cypriot manufacturing accounted for about 12 percent of GDP and 11 percent of employment in 1989. Almost entirely light industry, with clothing and textiles being the most important products. Clothing accounted for 30 percent of exports in late 1980s.] Services: Accounted for over half of GDP at end of 1980s. Tourism is the most important subsector, with over a million foreign visitors each year (twice the Island's population!). Financial and business services also important. [Turkish Cypriot service sector accounted for well over half of GDP and nearly half of employment at end of 1980s. Tourism is the most dynamic element, with about 300,000 foreign visitors per year].
While the site is being updated, please contact us at HeadOffice@stambouli.com should you need any further information.
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