Israeli investors view Cyprus as a gateway and a good place to invest and do business in a variety of areas. With the support of the business communities of both countries, much more can be done to both expand trade and investment and bring the two peoples even closer, says Ambassador Oren Anolik.

Cyprus needs a robust, efficient and fair business tax framework that supports the post-Covid-19 recovery and is fully aligned with the expected legislative changes. In other words, this is the time to launch the process for a tax reform.

Over the space of roughly a decade, Cyprus has gone through a significant transformation. Its infrastructure, from public works to large private investments, have turned it into a major attraction.

Andrey Narutskiy explains how Cyprus’ AIFs help to meet the specific needs of ultra-high-net-worth investors and says Cyprus could win more fund business as offshore fund centres remain under attack from global policy-makers.  

Thematic Exchange Traded Funds (ETFs) are experiencing record growth globally as investors want to capitalise on clean energy and technology. Demand for specialised ETFs will likely increase in Cyprus too, although these funds might not necessarily be traded on the island, says Maria Clappa, Partner at Tassos Papadopoulos and Associates LLC.

UCITS could be the investment theme for 2021 and beyond. As the returns on fixed deposits continue to be diminishing in the current low-interest rate environment, retail investors are asking for alternatives to traditional bank products. UCITS could be the answer, says Alexios Kartalis, General Manager of GMM Global Money Managers Ltd.

As Cyprus is preparing itself for a post-Covid-19 working life, employers should maintain flexible workplace policies to retain and attract new talent, says Hayley Buckle, Director of Recruitment at GRS Recruitment.

Luxury properties and high-rise buildings are currently driving Cyprus’ construction sector forward. However, demand will shift in favour of more conventional villas and apartments in a few years’ time, predicts George Chrysochos, second-generation CEO of Cyfield Group, one of Cyprus’ largest vertically integrated construction companies.

We have every reason to remain optimistic and expect demand to continue to be strong in 2021, especially for ready to move in properties and projects approaching their delivery.

Competition coupled with a cleaner and lower cost fuel will drive a reduction of electricity costs for all.

Cyprus has a new, more discerning, type of client that expects world-class finishes, facilities and service in addition to an outstanding property with exceptional construction quality and specifications.

We expect that the introduction of tax and redomiciliation incentives for funds and fund managers and the modernisation of procedures will aid in boosting the fund sector to even higher growth rates.  

The Cypriot investment fund market is a very dynamic market that has seen impressive growth in recent years.

Cyprus was one of the few countries that effectively faced the coronavirus pandemic, thanks to the prompt government action, but also the quality of its healthcare system and its climate.

Banks are now focusing on providing the widest possible support to the economy to minimise the pandemic impact and to safeguard the banking sector’s performance in the years ahead.

The key opportunity is our country's transition to the era of the fourth industrial revolution.

Cyprus’ strategic location, business friendly environment, efficient tax system and professional human capital create an ideal environment for the set up of family offices.

The discovery and exploitation of Cyprus’ natural gas offshore resources will be key in unlocking cleaner energy for Europe, the region and beyond.

Although a contraction is highly likely for 2020, we expect this to be smaller than that of the general economy and succeeded by a return to growth in 2021.

It is a challenging time with a reduction in business, with governments and companies tightening their belts to reduce costs.