Cyprus is fast becoming one of the top emerging investment fund centers in Europe, offering unique access to high-growth markets. Determined to stay at the forefront of industry developments and continuously upgrading its legislative and regulatory regime, Cyprus has developed into a key regional domicile for setting up investment funds and establishing asset management companies for pan-European reach.
CIFA is organising the “Cyprus Investment Funds Conference – India” to present the key benefits and advantages of the Cyprus funds industry to professionals, businesses and organizations offering services and being involved in the investment funds sector in India. Of particular interest is the recent order issued by India’s Ministry of Finance specifying that the Republic of Cyprus is now classified as a “Category I” country for the purposes of Regulation 5 (a) (aiv) of SEBI (Foreign Portfolio Investors) Regulations. The said classification as “Category I Foreign Private Investor” entails significant advantages in the manner in which business is to be conducted between the two countries with reliefs such as simplified Know Your Client (“KYC”) procedures required for business activities, enhanced trading limits and a new ability of Cypriot Funds to invest in Indian ODIs. This development signals new opportunities and creates prospects for further cooperation between the professionals from the two countries specializing in the Funds Industry.
Free participation, registration essential.
Senior Legal Advisor, Cyprus Investment Funds Association
Nicole Kallasides is a Cyprus-qualified lawyer and currently holds the position of Senior Legal Advisor at CIFA. Among others, her role revolves around pursuing legal research, including comparative legal research on the legal frameworks of other EU jurisdictions, aiming towards the further improvement of the legislative framework of the fund industry in Cyprus. She possesses solid professional experience within the funds industry, since prior to joining CIFA, she worked at the Investment Fund Services Department of a Big 4 Firm, advising clients on the formation, structure, operation and ongoing regulatory compliance matters relating to fund vehicles and fund management companies. She also worked as a lawyer in leading law firms in Cyprus and Brussels where she specialised in financial, corporate and commercial law. Nicole is a holder of an LLM in Commercial Law from the University of Bristol, an LLM LPC in International Legal Practice from the University of Law, UK, and an LLB (Hons) in Law from the University of Leeds.
High Commissioner of India to Cyprus
High Commissioner Madhumita Hazarika Bhagat is a career diplomat and joined the Indian Foreign Service in 1999. She has been educated in New Delhi and has done her graduation in Political Science (Honours) and followed it with an LLB. High Commissioner Madhumita Hazarika Bhagat began her diplomatic career in the Embassy of India in Moscow, Russia (2001-2004) and thereafter, was posted to Embassy of India in Almaty, Kazakhstan (2004-2006). She subsequently served as Under Secretary on deputation in the Ministry of Commerce, Trade Policy Division, New Delhi (2006-2008) with a stint as Deputy Secretary in the Public Diplomacy Division, Ministry of External Affairs, New Delhi. She was First Secretary in the Embassy of India, Stockholm, Sweden (2008-2011) for Commercial & Economic, Cultural and Information affairs. Later, she joined the Embassy of India, Moscow, Russia (2011-2014) in the capacity of Counsellor, Economic & Commercial and Culture. She served as the Deputy Chief of Mission in the Embassy of India, Ankara, Turkey (2014-2017). High Commissioner Madhumita Hazarika Bhagat was appointed as India’s first National Coordinator and Joint Secretary for Shanghai Cooperation Organization (June, 2017 - October, 2019). She assumed charge as High Commissioner of India in Cyprus on November 11, 2019.
George Campanellas is the Chief Executive Officer of the Cyprus Investment Promotion Agency (Invest Cyprus). He has nearly twenty years of professional experience in Cyprus and abroad, working with the DG Competition in Brussels and directly with the Cypriot Ministers of Health and Energy, Commerce, Industry and Tourism. Mr. Campanellas has been actively involved with the development of the oil & gas sector in the Cyprus Exclusive Economic Zone, dealing with licensing, exploration and exploitation activities, as well as promoting bilateral and multilateral cooperation at a regional level. Throughout his career, he also had an active role in drafting the regulatory framework and running the relevant licensing procedures for attracting Foreign Direct Investment in sectors of strategic importance and large-scale infrastructure projects, such as the LNG terminal at Vasilikos Energy Center, Cyprus Techno Park, EuroAsia Interconnector and the City of Dreams Mediterranean, Europe’s largest integrated casino resort and Cyprus’ largest FDI project. George Campanellas has been elected to the Steering Committee of the World Association of Investment Promotion Agencies (WAIPA) and has the position of the Regional Directorship of Eastern Europe.
Andreas Yiasemides is the President of the Cyprus Investment Funds Association (CIFA) and Partner, in charge of Funds Services at PwC Cyprus. On his graduation from the University of Manchester with a first-class degree in Economics, he joined PwC in 1999 and qualified as a Chartered Accountant (FCA). He continued his career with the Bank of Cyprus, holding various positions including heading the Custody and Trusts Unit. He then moved on to an organization of professional services where he set up and led the Fund Services Unit. He has served as a member of the Board of Directors of the Bank of Cyprus and of the Central Bank of Cyprus and is the President of the Board of Directors of the Cyprus Investment Fund Association (CIFA). He is also a member of the Cyprus National Advisory Council of the Charter Institute for Securities and Investment (CISI).
Director, Financial Services, Funds and Capital Markets, Prountzos & Prountzos LLC | EY Law, Cyprus
Andria Koukounis is a Director in the Financial Services, Funds and Capital Markets. She is an experienced banking and finance law practitioner with a particular focus on commercial transactions, project financing and restructuring deals. She regularly advises financial institutions on legal and regulatory issues and represents them in contentious proceedings. She is a member of the CIFA Legal and Regulatory Committee. Andria has extensive experience in establishing Alternative Investment Funds and representing regulated entities including Fund Managers, Electronic Money Institutions and Payment Institutions during the licensing stage and throughout their operations. She is also frequently engaged in providing legal advisory support to Alternative Investment Fund Managers who are active in a number of jurisdictions through the passporting regime.
Michalis Vasiliou is a Board Member and Head of the Asset Management Services at KPMG in Cyprus. Michalis graduated from the University of Manchester with a first-class degree in Accounting and Finance and is a Fellow (FCA) of the Institute of Chartered Accountants in England & Wales (“ICAEW”). He primarily services groups operating within the investment funds and financial services sector. Michalis is also a member of the Department of Professional Practice at KPMG in Cyprus, providing technical support on the correct application of IFRSs requirements. He is a presenter for IFRS seminars to the staff of KPMG, to clients and the public through KPMG Academy. He is also the Chairman of the Investment Funds committee of the Institute of Certified Public Accountants in Cyprus (ICPAC) and the Chairman of the Alternative Investment Funds committee of the Cyprus Investment Funds Association (CIFA).
The event is addressed to:
• Fund managers
• Fund administrators
• Asset management firms and asset managers
• Accounting, audit, tax firms and tax specialists
• Law firms and legal consultants
• Business advisory and consulting service providers
• Corporate service providers
• Investment funds
• Banks, investment banks and other financial institutions
• Private equity firms
The Cyprus Investment Funds Association (CIFA) represents the face and voice of the Cyprus asset management and investment fund community. Founded in 2013, CIFA currently counts over 380 members and represents fund managers, depositaries, administrators, professional advisory firms and other specialist firms involved in the fund services industry in Cyprus. CIFA’s Board of Directors is comprised of high caliber industry professionals who come from all areas of the funds industry and are well-placed to support and complement the continued development of the industry. CIFA’s mission revolves around assisting its members capitalize on industry trends, shaping the development of the regulatory and legislative framework, enhancing professionalism, integrity and quality, and promoting Cyprus as a leading funds jurisdiction.
GOLD magazine was founded in 2011 as the first English-language business monthly in Cyprus. Today, it is not only synonymous with the promotion of good business practices but it has a unique and valuable readership of High Net Worth Individuals, international company executives, English-speaking Cypriot and non-Cypriot businessmen and women. GOLD provides a comprehensive and informed overview of the local business scene, the economy and the market and has gained a reputation for its in-depth articles and revealing interviews with key local and international personalities. www.goldnews.com.cy
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