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Cyprus’ financial services sector has reformed and transformed itself into a key pillar of the economy, and despite the global Covid-19 crisis, the island continues to see new business. Fintech and digital finance in particular are fast developing into thriving segments of Cyprus’ finance sector and could provide solutions to the many challenges the industry is facing.
Cyprus’ investment funds industry has recorded impressive growth over the past years. Although the future is a little less certain due to COVID-19, the arrival of more medium-sized funds is seen as an important step towards attracting an even greater number of international service providers.
Despite the tourism uncertainty prevailing globally, TourInvest unit’s efforts are currently focusing on supporting the sector through adjusting the right measures and facilitating regulations under the objective to lay the foundations for investment and to regenerate the sector.
Cyprus has a massive opportunity to position itself as a centre of excellence in production, research, genetics, and intellectual property in the Cannabis sector which, combined with a transparent regulatory and compliance framework make it an attractive country for the legal Cannabis industry to flourish.