The future of the Cyprus professional services: conference at Hilton Nicosia on May 20

The professional services sector in Cyprus has experienced unprecedented growth over the last 30+ years and has slowly but steadily become a vital part of the island’s economy. The biggest stakeholders in the industry (large accounting/audit/tax firms, well-known law firms and the international divisions of Cyprus banks) have traditionally depended on their business with overseas clientele -both corporate clients and high network individuals- to maximize their growth.

Nevertheless, the ever-changing and ever-demanding regulatory requirements, and the latest developments regarding tax incentives in different jurisdictions are forcing the professional services sector in Cyprus to reconsider things to stay on top of the game. This is especially important at a time when Cyprus is called to manage a serious reputational risk following the recent “golden passport” scandal that emerged from the poor management of the Cyprus Investment Programme.