17 May Cyprus: A Competitive investment Funds and Headquartering Jurisdiction
On Monday, 6th May 2019, “The Cyprus Headquartering and Funds Summit” was held in Tel Aviv, where Cyprus’ advantages for investment fund professionals as well as businesses wishing to relocate their international or regional headquarters to Cyprus, were presented (http://www.goldnews.com.cy/en/companies/invest-cyprus-promotes-cyprus-in-tel-aviv).
The Cyprus Investment Promotion Agency (Invest Cyprus) and the Cyprus Investment Funds Association (CIFA) organized the Summit, which is part of a series of promotional events that Invest Cyprus organizes, around the world.
Over 150 Israeli businesspeople, including asset managers, fund managers/administrators, financial institutions, law and audit firms, family offices and institutional investors, were present in the Summit, indicating its success (https://inbusinessnews.reporter.com.cy/business/services/article/212269/ependytika-tameia-apo-israil-i-kypros-elkystikos-proorismos).
The Chairman of Invest Cyprus, Mr. Michalis P. Michael, emphasised the fact that the investment funds sector is currently one of the most promising sectors of the Cypriot economy, having recorded impressive growth over the past few years (http://www.goldnews.com.cy/en/companies/invest-cyprus-promotes-cyprus-in-tel-aviv).
He also declared Cyprus’ advantages, that make the island the ideal investment and headquartering destination. He stated, “Our country meets all the requirements to become a leader in the alternative investments industry as well as a business centre of excellence”.
Additionally, the Director General of Invest Cyprus and Vice President of CIFA, Mr. George Campanellas, presented the current state of the Cypriot economy, the investment climate and Cyprus’ opportunities, as well as the recent amendments to the Cyprus Investment Programme (http://www.goldnews.com.cy/en/companies/invest-cyprus-promotes-cyprus-in-tel-aviv).
He proclaimed, “Cyprus is a tech-friendly country. Apart from offering a base in the EU and access to the European market as well as the Eastern Mediterranean region, our country offers attractive tax incentives and significant exemptions as it comes to profits from Intellectual Property rights”, inviting the Israeli tech companies to make use of Cyprus, as a complementary base for their EU activities.
Matters on Funds Administration, Cross Border Distribution of Units in Investment Funds and Depositary Services, and examples on Hedge Fund and Private Equity in Cyprus, were also presented at the Summit (https://inbusinessnews.reporter.com.cy/business/services/article/212269/ependytika-tameia-apo-israil-i-kypros-elkystikos-proorismos).
The next Cyprus Headquartering and Funds Summit will take place at Mumbai, India, in September 2019 (https://www.cyprusfundsroadshow.com/overview/introduction).