Panayiotis Rougalas
BrainRocket led the way, and Centalion Group is set to follow. The company announced on Oct. 2 that it had decided to move its headquarters out of Cyprus and relocate to Singapore.
It becomes another company on the list of businesses choosing to move their headquarters abroad, prompting questions about whether Cyprus’ business environment is as attractive as officials and the government repeatedly say it is. While figures were available for BrainRocket, including its roughly 1,500 employees in Cyprus, no comparable details are available for Centalion Group. It does, however, employ 2,000 people worldwide.
The company was previously known as Gunvor and adopted the name Centalion following a decision made in July 2026.
Although its headquarters will move to Singapore, where it has had a presence since 2006, Centalion said its main trading offices will remain in Geneva, Switzerland, and Houston, Texas. International media reports, including the Financial Times, say the move will involve relocating the company’s existing legal entity rather than setting up a new legal structure.
Centalion Group is an independent global commodities trading company. It says it develops supply chain solutions that enable the safe and efficient movement of physical energy resources, electricity, metals, and minerals from their places of origin and storage to wherever demand is greatest.
Following BrainRocket’s decision to relocate from Cyprus to Spain, the Cyprus Chamber of Commerce and Industry emphasized that the arrival and growth of major international companies in recent years demonstrated the potential of the Cypriot economy. However, it warned that these advantages “cannot be taken for granted,” as international competition to attract and retain businesses and workers continues to intensify.
“Operating costs, energy costs, housing, bureaucracy, the speed of licensing and immigration procedures, infrastructure, and access to skilled workers must be consistently assessed, while a stable and predictable tax and regulatory environment must also be maintained,” the chamber said.
