Cyprus Professional Services Conference
The Future of the Cyprus Professional Services Sector
Restoring Cyprus’ Reputation and Finding a new Growth Model for the Professional Services Sector: Vision, Ideas and Proposals
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 themanagement of the Cyprus Investment Programme.
The Cyprus Professional Services Conference aims to help professionals in the field develop a new vision for the Cyprus professional services sector, and ultimately consider a new business model for prosperity and growth. This year’s Conference will try to address and answer the following:
• How competitive are local professional service providers on an international scale?
• How attractive is Cyprus’ offering in the global market?
• What is the future of professional service providers and international banking in Cyprus? What does the future look like for all stakeholders involved (e.g. accounting/audit/tax firms, law firms, corporate and fiduciary service providers, banks, etc.)?
• Is it time to start working on a new business model that will enable the professional services industry in Cyprus to flourish again?
• What should this new business model be, and more importantly, how should it accommodate for international clients?
• What should be Cyprus’ future vision for the local professional services offered to international clients?
• What do clients really want out of professional services and which services should the industry stakeholders focus on offering?
• Are there any new business opportunities to explore?
• Are there any new geographical markets that the local sector could target?
• Are there any potential new revenue streams that Cyprus needs to consider?
• How do we manage Cyprus’ latest reputational risk and restore its global business image?
• How should all stakeholders involved adapt to prosper in this new reality?
• Practical recommendations for making Cyprus a truly international business centre
Melina Pyrgou is the managing director of Pyrgou Vakis Law Firm. An experienced lawyer with 30 years of experience in various firms. An experienced corporate lawyer with strong interpersonal and organisation skills leading a talented team recognised in “Legal 500” EMEA 2021 as “Recommended Lawyer” in the areas of Commercial, Corporate and M&A. An active citizen serving on the Board of the Cyprus Legal Council, the Health Insurance Organisation and Chairman of Committee of Environment, Energy and Investment Programmes.
Dr. Christos Ph. Clerides is the President of the Cyprus Bar Association. He is a Professor of Law and Head of the Department of Law of Frederick University. He is co-founder of Phoebus Christos Clerides and Associates LLC with his father, now deceased, ex-Minister of Justice and Member of the House of Representatives. Dr. Clerides was elected as a member of the House of Representatives from 2001-2006. He is a holder of an LL. B Hons (1976) and LL.M 1977 in Maritime Law and Insurance, University College, London and a Ph.D. holder in European Law of Kings College (1981). He has been practicing Law since 1982 and he is a litigation advocate.
Chairman, Invest Cyprus
Michalis P. Michael is the Chairman of the Board of Directors of the Cyprus Investment Promotion Agency since January 2018. He has a long professional career in business and audit services, both as a sole practitioner and as a Partner in KPMG Cyprus. Michael has a vast experience in the Ukrainian market, and he is the Chairman of the Cyprus-Ukraine Business Association from 2012 until today. Michael has been actively involved with public life since his early career. Formerly, he served as a Member of the Board of Directors of the Cyprus Broadcasting Corporation (1996-2000), Chairman of the Board of Directors of the Cyprus Organisation of Land Development (2000-2003), Member of the Committee for the Supervision and Development of Cooperative Societies (2003-2013). He was also Member of the Board of Directors of The Cyprus University of Technology (2014-2016) where he held the position of Vice-President (July 2016-2018). Michalis is a Chartered Certified Accountant, a Fellow member of the UK Association of Chartered Certified Accountants (FCCA) and Member of the Institute of Certified Public Accountants of Cyprus, of which he served also as a Member of the Board of Directors.
CEO, PwC Cyprus
Evgenios is the CEO and Senior Partner of PwC Cyprus. He is also a member of the EMEA Leadership Team of PwC. He started his career with PwC in London in 1990 and was admitted to partnership in 2001. He has worked with PwC in London and on short secondment in Athens and Moscow.Before becoming CEO, he was a member of the firm’s Executive Board, the Banking and Capital Markets Services leader and the HC leader. He was also a member of the management team for the Assurance practice of PwC in continental Europe.Evgenios is a member of the National Board for Research and Innovation (NBRI), a member of the council of the University of Cyprus, the ICAEW contact member for Cyprus, President of the Cyprus-Russia Business Association and member of the Board of Nicosia for Art. He is a member of the Board of Junior Achievement Cyprus and member of the Advisory Board of the Global Entrepreneurship Monitor (GEM) at the University of Cyprus. He was a member of the Board of the Cyprus Chamber of Commerce and Industry from 2014 to 2017, Vice President of the Board of the Nicosia Chamber of Commerce from 2014 to 2020 and on the Board of Directors of the Cyprus Investment Promotion Agency (CIPA) from 2011 to 2016.Evgenios graduated from Imperial College London and he is a Fellow of the Institute of Chartered Accountants in England and Wales. He has attended leadership development programs of PwC.
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).
Demetris S. Vakis holds a BSc. in Computer Science and Accounting (Joint Honours) and is a fellow member of the Institute of Chartered Accountants in England and Wales (ICAEW) and member of the Institute of Certified Public Accountants of Cyprus (ICPAC). He serves on KPMG’s Executive Committee and heads KPMG’s Markets which encompasses marketing and sales support. He has extensive experience both in Audit and in Advisory. He is the president of the Council of ICPAC and first vice chairman of the Board of the Employers and Industrialists Federation of Cyprus (OEB). Also he is the President of the Cyprus-Hungary Business Association and a member of the Cyprus Institute of Internal Auditors of Cyprus. Demetris also serves on the Board of the Tech Faculty of the ICAEW.
Michael Kammas is since January 2006 the Director General of the Association of Cyprus Banks, a Member of the Executive Committee of the European Banking Federation (EBF), Brussels and a Member of the General Assembly of the European Money Markets Institute (EMMI). Since May 20017 he is also the Chair of the Audit, Budget, and Risk Committee of the EBF. He has been active in academic and professional education, both in Cyprus and in the US. Michael holds a BA Economics and an MA Economics, from Roosevelt University in Chicago, Illinois, USA and a PhD in Economics from the University of Utah, Salt Lake City, Utah, USA.
Christos V. Vasiliou joined KPMG in Cyprus in 1994 and became a Partner in 1999. Christos has been involved with the audit of large financial institutions including major banks, insurance companies, and investment funds. In 2016 he was appointed Deputy Managing Director of KPMG in Cyprus and Managing Director in 2019. In the past, he was Head of the Advisory Department in KPMG Cyprus. He is a member of the Executive Committee of KPMG in Cyprus, a founding member of CIFA (Cyprus Investment Funds Association), and a Council member of the Institute of Certified Public Accountants of Cyprus.
CEO, Baker Tilly South East Europe
Marios Klitou is the CEO of Baker Tilly South East Europe (Baker Tilly firms in Cyprus, Romania, Bulgaria, Moldova and Greece) and member of the Board of Directors of Baker Tilly International, President of the Cyprus – Romania Business Association and Honorary Consul of The Republic of Romania in Cyprus. Mr. Klitou is fellow of the ICAEW and the ACCA and of the ICPAC. He is a member of the CAFR and of the CECCAR. In the last 20 years he has been a member of the Board of Directors of the following: Cyprus Development Bank Ltd, Central Bank of Cyprus, Cyprus Investment Promotion Agency, State of Health Services Organisation of Cyprus (Okypy). He has been a member of the Council of Economic Advisers of the President of the Republic of Cyprus
Pieris Markou is the CEO of Deloitte in Cyprus and a member of the Deloitte Middle East Executive Board, having previously served as the Tax & Legal Services Leader. He started his career in London in 1986 and was admitted to Partnership in Chrysanthou and Christoforou (Andersen) in 2000. He is currently the President of the Institute of Certified Public Accountants of Cyprus (ICPAC) and a member of the ICPAC Council since 2014 having previously assumed many professional roles within ICPAC, including Vice Chairman and Chairman of the Tax and VAT Committees. Pieris is also a board member of the Nicosia Chamber of Commerce & Industry. Pieris holds a B.A. (Hons) degree in Accounting, is a fellow member of the Institute of Chartered Accountants in England and Wales, and is a member of the Chartered Institute of Taxation.
CEO, Grant Thornton Cyprus
As of 1 January 2011, Stavros is the CEO of Grant Thornton in Cyprus. He is a member of the Institute of Chartered Accountants in England and Wales. He trained and qualified the UK and has a BSc (Honours) in Business Finance and Economics. During his time with Grant Thornton in the United Kingdom, Stavros obtained considerable experience in financial due diligence in connection with acquisitions and fundraising, flotations and public company transactions. He is actively involved in community work by mentoring young individuals of various backgrounds and from different industries.
Chairman, EY Cyprus
Stavros Pantzaris is the Chairman of EY Cyprus having served as Country Managing Partner during the period 2015 – 2020. He has over 30 years of experience in Assurance and Advisory Business Services as well as in leading buy-side due diligence projects. Stavros holds a B.Eng. degree (Hons) in Engineering with Industrial Management and is a fellow (FCA) of the Institute of Chartered Accountants in England & Wales (ICAEW) and a member of the Institute of Certified Public Accountants of Cyprus (ICPAC). He currently sits on the Board of Directors of ICPAC, the Cyprus Employers and Industrialist Federation, the Nicosia Chamber of Commerce & Industry and the Cyprus Seeds.
Elias Neocleous is the Managing Partner of Elias Neocleous & Co LLC, Cyprus’ largest and most progressive international law firm. He is a graduate of Oxford University, a barrister of the Inner Temple, and was admitted to the Cyprus Bar in 1993. Elias has more than thirty years’ experience successfully leading legal teams dealing with large, complex and innovative cross-border transactions. His main areas of practice are banking and finance, company matters, intellectual property law, international trade, tax and trusts and estate planning. Elias is a frequent conference guest speaker with many publications to his credit. He is a strong advocate for utilizing technology to benefit the client and is spearheading the introduction of ALSP to Cyprus via Neolaw.ai.
CO-MANAGING PARTNER, CHRYSOSTOMIDES ADVOCATES & LEGAL CONSULTANTS
George Mountis is the Co-Managing Partner at Chrysostomides Advocates & Legal Consultants and Head of the firm’s Litigation, Arbitration and Mediation department. He has a total of 18 years’ professional experience in various fields of commercial, banking, and corporate litigation, with particular expertise in shareholder disputes, commercial and corporate fraud, interim orders, liquidation proceedings and disputes in relation to international and domestic Trusts. George also advises high net worth individuals and family businesses on succession planning. He has extensive arbitration experience and is a Fellow of the Chartered Institute of Arbitrators (FCiArb) and an Accredited Mediator (CEDR). He holds an LLB (Hons) from University of Kent at Canterbury, an LLM (Corporate & Commercial Law) from London School of Economics & Political Science and a Diploma on Economics of Competition Law from Kings College London. George is listed among the leading lawyers in Cyprus for Dispute Resolution in international law firm directories Chambers & Partners, and Legal 500 EMEA.
Partner, Kinanis LLC
Andri Michael is a lawyer, partner at Kinanis LLC. She has joined the firm in 2005 and her main areas of practice, for over 10 years, included corporate law, banking and finance, funds and capital markets. For the past few years, Andri has been leading the Financial Services and Funds department of Kinanis LLC focusing mainly on legal advisory, formation and regulatory compliance for collective investment structures and other licensed entities. She also specialises on legal advice and support for international clients for listings on capital markets as well as on legal consulting for blockchain matters. Andri holds an Undergraduate (LL. B) and Postgraduate Degree in Law (LL.M) from the University of Southampton, UK and was admitted to the Cyprus Bar Association in 2004. She has been a member of the Cyprus Investment Funds Association (CIFA) since 2014 where she has actively participated in various subcommittee. She is also a holder of the Advanced Certificate of the Cyprus Securities and Exchange Commission.
Managing Partner, SCORDIS, PAPAPETROU & Co LLC
Kyriacos Scordis holds an LL.B. (Hons) and an LL.M. (Hons) in International Business Transactions from UCL, London. He qualified as a Barrister with Lincoln’s Inn in 1994 and as an Advocate in Cyprus in 1995. He has been practicing as a member of Scordis, Papapetrou & Co LLC since then and is currently the firm’s Managing Partner. Kyriacos has extensive experience and expertise both in international litigation and arbitration as well as on tax, corporate and commercial matters. Handled claims or appeared before arbitral Tribunals or Courts in Cyprus, Sweden, Russia, Switzerland, the UK and the US, including multi-billion dollar cases: RICO claim, shareholder disputes and corporate/commercial claims. He also advises on a variety of corporate matters including cross-border sales & acquisitions of Cyprus and non-Cyprus assets, shareholder agreements, structuring international acquisitions, trusts, escrow arrangements and tax.
Andreas Mercouri is one of the founding Board members of the Cyprus Fiduciary Association (CYFA) and currently acts as its Treasurer. He is the General Manager of Trident Trust Cyprus, with overall responsibility for the strategy and day-to-day operations of the Cyprus business. He joined Trident in 2009 following his previous employment where he has over 6 years’ experience working on specialist corporate recovery and insolvency cases, with exposure to a diverse portfolio of formal insolvency and corporate recovery assignments across various industry sectors in fast-moving business environments. Andreas also worked within the financial investigations’ division of this global firm. Andreas holds a BSc (Hons) in Accounting & Financial Management from Loughborough University in the UK and is also a Fellow Chartered Accountant licensed by the Institute of Chartered Accountants of England & Wales.
Christophoros Koutouroussis joined Bizserve Consultants Ltd as Managing Director in April 2007 following a 10-year career in the Cyprus banking sector, specializing in private and retail banking. He is responsible for the day-to-day operation of the Firm as well as its business development affairs by undertaking presentations and road shows to potential overseas markets and also participating in various international forums, often as speaker. Since February 2013 he is involved with the Cyprus Fiduciary Association, starting as Chairman of its International Business Committee, moving on to Director of the Board, Vice President and since October 2019 President of the Association. Chris spent his academic life in the UK. He holds a BSc in Economics from the University of Warwick, an MSc in Finance & Economics from Queen Mary and Westfield College of the University of London and an MBA from Warwick Business School.
CPA, CEO, CPM
Costas Christoforou joined CPM as General Manager in 2005. Under his leadership, CPM has developed into a leading international service provider operating from Cyprus and offering the best possible tailor-made corporate management and administration solutions to institutional, corporate and private clients. Costas has extensive experience in international business environments, both in Europe and in the USA, particularly in the fields of audit, tax, company administration and investment services.
Vice-Chairman, Totalserve Management Ltd
George Economides is the Vice-Chairman of Totalserve Management Limited. He is also a Partner at E & G Economides LLC, an affiliated full-service law firm based in Cyprus. George obtained his Bachelor of Laws from the University of Westminster. Further to his studies, he has gained extensive experience in accounting, auditing and tax matters with a leading Cyprus accountancy firm. George is a member of the Cyprus Bar Association, a member of the Individual Tax and Private Client Committee of the IBA and an active member of the ITPA and STEP. George has also been recognized by the Legal500, a leading legal directory and over the years, has co-authored various publications on consecutive occasions as regards to M&A, lending & finance and technology/digital business
Marina Pittalis is the Managing Director of the Opus Group of Companies (“Opus”). She joined Opus in 2005 and oversees its operations. She has vast experience in international and corporate trade finance sectors prior to joining Opus, having worked for a multinational group that is a global force in trade finance industry and quoted on London Stock Exchange. She has special interest in the management and protection of image rights of high-profile personalities. She is a member of several bodies, including the International Fiscal Association (IFA), International Tax Planning Association (ITPA), International Bar Association (IBA), LawInSport, Society of Trust & Estate Practitioners (STEP), and International Business Structuring Association (IBSA). She is also the Vice President of the Cyprus Fiduciary Association, the head of Women of IFA Network (WIN), Cyprus branch, and is a speaker at international conferences and forums. Marina studied in UK and holds an MBA degree with specialisation in Finance.
General Manager, International Banking, Hellenic Bank
Kiki Papadopoulou is the General Manager of International Banking at Hellenic Bank since May 2019, member of the Executive Team. She holds a BA/MA in Engineering and Management from the University of Cambridge. Mrs Papadopoulou is a member of ICAEW, ICPA Cyprus and the Public Register of Certified Persons. During 1994 – 1998 she worked at Deloitte & Touche London and then joined D&T Cyprus as Senior Manager. She later moved to Bank of Cyprus where she served in various posts including being the Senior Manager of the Restructuring & Recoveries Division. She joined Hellenic Bank in 2015 as GM of the Business Division. In 2016, she assumed the duties of GM of the Arrears Management Division and following the decision to spin off the Division’s operations, she took the position of Country Manager of APS Cyprus, the first distressed debt servicer in Cyprus.
General Manager, International Business Banking, Eurobank Cyprus
Stephanos has over 20 years of banking experience, working initially in a financial institution in London for a period of three years, handling a portfolio of clients mainly involved in the real estate sector. In 2000 he returned to Cyprus and worked for six years at a local Bank, managing the Credit Department of the International Business Banking Division. In 2007, he joined Eurobank Cyprus, managing the International Business Division, including the Bank’s network. At present, he holds the position of General Manager and his area of responsibility covers the following areas: the International business clients segment, the banking center network, and the development of affluent banking clients segment. Stephanos holds a BSc in Accounting and Finance from the University of Essex and an MSc in Insurance and Risk Management from the City Business School.
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.
Chairman, Association of Cyprus International Financial Firms
Demetris Taxitaris is the Chief Executive Officer of MAP S.Platis, a leading consulting Group in the provision of solutions in licensing, regulatory compliance, internal audit, risk management, human resources, regulatory technology, information technology, business resilience, information security including cybersecurity, governance, executive training and innovation to regulated and other firms. In the past, he worked at Bank of Cyprus as Head of Asset Management with local and international clients, individuals and institutionals, across all industries. Prior to that, Demetris worked at Deloitte in London where he qualified as a Chartered Accountant, becoming a member of the ICAEW. Demetris is a member of the Boards of Directors of the Institute of Certified Public Accountants of Cyprus (‘ICPAC’) and the Cyprus Investment Funds Association (‘CIFA’) and a Chairman of the Association of Cyprus International Financial Firms (‘ACIFF’).
Board Member, Invest Cyprus
Spyros Vassiliou is a Member of the Board of Directors of Invest Cyprus since 2019 and a member of the Cyprus Bar Association. He served as the CEO of P.I. Provident Investments Ltd and he is the Founder of the Law Firm Spyros Vassiliou & Associates LLC and Managing Partner of P.C.S. Provident Corporate Services Ltd. With more than 15 years of experience in both the Legal and Financial sectors, Spyros provides advice and counsel to private and corporate clients, focusing on corporate & commercial law, trusts, estate, tax planning, and IP rights. He is also well established in cross-border commercial litigation. He is passionate about Fin-Tech, mainly niche products and structures, and has a long-established business presence in technology and innovation-oriented markets. An international speaker promoting Cyprus and sophisticated solutions and structures to High Net Worth Individuals (HNWIs) and Institutional Investors worldwide.
Senior Manager, Risk Advisory, Funds Advisory Services, Deloitte in Cyprus
Theodora Economides is a Senior Manager within the Risk Advisory Department of Deloitte in Cyprus, specialising in Financial Institutions, as well as European Investment Firms, Investment Funds and Fund Managers. She has many years of experience in regulatory compliance and strategy with a focus on policies, compliance and disclosures. Theodora holds a BSc in Economics from University College London (UCL) and an MPhil in Real Estate Finance from the University of Cambridge. She is a member of the Institute of Chartered Accountants in England and Wales (ICAEW) and the Institute of Certified Public Accountants of Cyprus (ICPAC). She is also a member of ICPAC Funds Committee and CIFA Alternative Investment Funds Committee.
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The Conference is addressed to professionals and more specifically senior executives from the following:
• Accounting, audit and tax firms
• Banks and other financial services institutions
• Law firms and legal consultants
• Corporate services providers
• Business consulting firms
• Company incorporation services providers
• Asset/wealth management companies
• Investment firms & investment services providers
• Trust service providers
• Relevant regulatory bodies and governmental authorities
IMH is a leading Corporate Events and Media organization operating in the Knowledge and Information Economy. It provides products and services based on content, intelligence and connections to specialist audiences. IMH services include the organization of conferences, summits, client events, exhibitions, business, and mainstream media. Every year, IMH organizes more than 200 corporate events in physical, hybrid and online form: Conferences and Exhibitions on all market sectors, Investment summits and road shows in Cyprus and abroad, Client Conferences and other corporate events, Business award ceremonies. Our corporate events provide the biggest networking, business development, knowledge providing and career advancement opportunities in Cyprus. IMH media department operates, publishes and distributes: IN Business, the leading monthly business magazine in Cyprus, GOLD, the leading English-language monthly business Magazine in Cyprus, IN Business Portal (www.inbusinessnews.com), GOLD Portal (www.goldnews.com.cy), Over 40 annual business catalogues, supplements and directories, Reporter (www.reporter.com.cy), one of the most visited multi-thematic news portal in Cyprus. IMH recently acquired Super FM, the leading music radio station in Cyprus.
Through its representation of ten member banks, that hold more than 90% market share and provide a full range of banking services, the Association of Cyprus Banks (ACB) is the voice of the Cyprus banking system. Its primary aim is to promote best practices for the interest of the banking sector and the local economy as a whole. The ACB is a non-profit organization through which common positions are formulated and promoted on banking and financial issues, when local legislative and governmental policies are determined.
Cyprus Bar Association is the professional body of lawyers with 4273 members. Cyprus Bar Association was established under the Advocates Law Chapter 2 in 1960 and it has been operating since then. It is the Regulatory Body and among its powers is to maintain the honour and independence of the Bar and its defence in relation to the judiciary and the executive and to regulate the practice and etiquette of the profession. It is the competent authority for lawyers under Cyprus legislation in accordance with section 59 (4) of the Prevention and Suppression of Money Laundering of Money Laundering Activities Law of 2007 (L. 188 (I)/2007) as amended. Cyprus Bar Association is a member of the Council of the European Bar Association (CCBE) and a member of the International Bar Association (IBA).
The Cyprus Fiduciary Association (CYFA), established in 2011, is the representative body of regulated Administrative Service Providers (ASP’s) in Cyprus. With a vision to assist in forming a solid international business sector in Cyprus operating on high professional standards, ethics and integrity, the Association aims to serve industry providers by promoting their interests, raising sector awareness, supporting their operations, contributing to new legislations and delivering valuable training to professionals. The Association’s commitment to its purpose has established it among the most reputable and recognised organisations within the country, before public and regulatory authorities, other associations, as well as the business community in Cyprus and overseas.
Invest Cyprus (Cyprus Investment Promotion Agency) is the investment authority of the Government of Cyprus dedicated to attract and facilitate foreign direct investment into the country. In close collaboration with all governmental authorities and public institutions, as well as the private sector, Invest Cyprus is the country’s lead agent in establishing Cyprus as a world-class destination for international business activity and investments. Invest Cyprus’ mandate is to raise awareness of Cyprus as a destination for FDI across the globe, providing certainty around all aspects of operating a business in Cyprus and supporting potential investors in developing their business case for investment into the country.
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.
The Institute of Certified Public Accountants of Cyprus (ICPAC), established in 1961, is the professional body for the accountancy profession in Cyprus, currently tallying more than 5.200 members and 3.500 students. It provides the organisational framework for all professional accountants, supports and promotes the activities and interests of the accountancy profession, safeguards the reputation of the profession and ensures adherence to the Code of Ethics and the continuous professional development of the members. Furthermore, ICPAC is a competent authority and has been delegated the relevant tasks under the Law for the regulation of the audit profession, for Anti-Money Laundering purposes, for the provision of administrative and insolvency services. ICPAC is a key and active stakeholder in the economic affairs and development of the country, cooperating with the government, the private and public sector.
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
IN Business magazine has a monthly readership of over 89,000. It is the only monthly business magazine in Cyprus that provides a comprehensive overview of all segments of the economy, from retail to services, as well as reporting on new deals, presenting new faces and, generally, looking at everything that’s happening on the local business scene. IN Business has always been a pioneer in local business journalism, thanks to its in-depth analysis and research, often backed by previously unpublished facts and figures. www.inbusinessnews.com
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