Cyprus’ advantages for investment fund professionals as well as businesses wishing to relocate their international or regional headquarters to the country, were presented at “The Cyprus Headquartering and Funds Summit” in Tel Aviv. The Summit was organised by the Cyprus Investment Promotion Agency (Invest Cyprus) and the Cyprus Investment Funds Association (CIFA).
As it is well-known, the investment funds sector and the promotion of Cyprus as an international headquartering destination, are key priority areas of Invest Cyprus’ strategy. The summit was held as part of a series of promotional events organised by Invest Cyprus in the most significant capitals of the world. It was very successful as it attracted over 150 Israeli businesspeople, including fund managers/administrators, asset managers, financial institutions, law and audit firms, family offices and institutional investors.
In his address, the chairman of Invest Cyprus Michalis P. Michael, underlined that the investment funds sector is at the moment one of the most promising sectors of the Cypriot economy, having recorded impressive growth over the past few years.
Michael especially underlined Cyprus’ advantages, which make it the ideal investment and headquartering destination. “Our country meets all the requirements to become a leader in the alternative investments industry as well as a business centre of excellence,” Michael stressed.
On his part, the Director General of Invest Cyprus and Vice President of CIFA, George Campanellas, presented the state of the Cypriot economy, the investment climate and the opportunities that Cyprus offers, as well as the recent amendments to the Cyprus Investment Programme.
In his presentation, he highlighted the opportunities that our country can offer to Israeli tech companies, inviting them to make use of Cyprus as a complementary base for their EU activities.
“Cyprus is a tech-friendly country. Apart from offering a base in the EU and access to the European market as well as the Eastern Mediterranean region, our country offers attractive tax incentives and significant exemptions as it comes to profits from Intellectual Property rights,” Campanellas said.
Apart from Invest Cyprus and CIFA, 40 professionals from Cyprus’ biggest audit and legal firms also participated in the Cypriot delegation and were given the opportunity to illustrate the comparative advantages of Cyprus as well as take part in B2B meetings with Israeli business people.