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The country continues to be a competitive financial centre with highly-skilled professionals and significant comparative advantages. These include among others, a stable and attractive tax system, an advantageous geographical location and a large double taxation agreement network.
Another important area of development is that of investment funds and fund management. These comprehensive vehicles attract a great deal of investment because they entail specific advantages, such as risk-spreading and access to sizeable investments and projects. Cyprus has become one of Europe’s emerging destinations for investment funds.
The dynamic revitalization of the sector is also confirmed by the data provided by the statistical service for the whole 2019 regarding property sales, building permits and the index of production in construction which provide a significant indication of future activity of the sector.
The opportunities for the legal profession, business, and society as a whole offered by the EU ‘Green Deal’ strategy, and by the financial structure being assembled to support it, are numerous. Moving to a carbon neutral position will not only be good for the health of our environment and our citizens but, the innovation and investment that it will require has the potential to result in financial gain too.