A delegation of Cypriot representatives travelled to London this week to promote Cyprus as a European jurisdiction in which investment funds and fund management companies can be registered.
The delegation was comprised of Invest Cyprus CEO George Campanellas, the recently appointed Cyprus Securities and Exchange Commission’s (CySEC) chairman George Theocharides, as well as Cyprus Investment Funds Association (CIFA) president Andreas Yiasemides.
This promotional initiative, spearheaded by Invest Cyprus, involved the participation in an event called ‘The New Era: Navigating the evolving European fund distribution landscape with successful regulatory, operational and investment strategies’.
More than 200 entities involved with investment funds took part in the event, including fund managers, family offices, investment banks and private equity firms.
Cyprus’ agenda included the recent AUM (Assets under Management) growth in Cyprus; growth through 2020; key drivers; setting up funds in Cyprus; Cyprus’ strategic position, double tax treaties; direct investment in the EU and beyond; the key benefits of a Cypriot fund; as well as an exploration of the tax and legal framework on the island.
Specifically, Invest Cyprus CEO George Campanellas spoke on the significant prospects of the Cypriot economy in crucial sectors.
Campanellas also made reference to the development of the investment funds sector, the upward trend recorded by the Cypriot jurisdiction, explaining that assets under management in Cyprus have reached €10.7 billion.
CySEC chairman George Theocharides spoke on the commission’s actions that led to the increase in the registration of investment funds in Cyprus.
At the same time, he also showcased the commission’s vision in regards to ESG funds, as well as the further integration of technology in a stronger regulatory framework.
ESG funds take environmental, social and governance factors into account when implementing their investment process.
Finally, CIFA president Andreas Yiasemides expressed confidence about Cyprus’ evolution into a cross-border hub of international investment funds, highlighting the various comparative advantages that Cyprus has for companies and organisations seeking European headquarters.
Moreover, Yiasemides also mentioned the hospitable environment of the island, the talented human resources it has, its geographical location and easy access it offers to the European and Middle Eastern markets, its strong European legal framework, its transparent tax regime and the various support services it offers.
Source: Cyprus Mail