Cyprus’ comparative advantages in the fields of investment funds and international headquartering were highlighted during a conference titled “The Cyprus Headquartering and Funds Summit Tel Aviv,” organized by Invest Cyprus, the Cyprus Investment Promotion Agency, and the Cyprus Investment Funds Association (CIFA).
The promotion of the investment funds industry and international headquartering constitute two of the main priority areas for Invest Cyprus’s strategy, a press release issued by the Cypriot Investment Promotion Agency.
The Summit, held in the context of a wider series of promotion events organised by Invest Cyprus in key capitals, attracted more than 150 representatives of Israel’s business community, including fund and asset managers, financial institutions law offices, audit firms and institutional investors.
Addressing the event Michalis Michael, the President of Invest Cyprus, outlined the advantages rending Cyprus as an ideal destination for investments but as a business base.
Cyprus, he said, has all prerequisites to become a key player in the field of alternative investment funds but also as a business excellence centre.
Michael also noted that investment funds is currently one of the most promising sectors of the Cypriot economy, registering impressive growth.
On his part, George Campanellas, Director General of Invest Cyprus and CIFA’s Vice President, outlined the Cypriot economy’s current state of play, the current investment climate and the opportunities offered by Cyprus, as well as the recent amendments to the Cyprus Investment Scheme that enter into force on May 15.
Campanellas also highlighted the capabilities Cyprus could offer in Israel high technology firms, offering the opportunity to operate as a supplementary base for activities within the European Union, while offering attractive tax breaks and tax exemptions concerning income from intellectual property.
(Cyprus News Agency)