The opportunities Cyprus offers in the field of Investment Funds, particularly Alternative Investment Funds (AIFs), were the focus of the CIFA Roadshow, which was held in Athens on October 22.
According to a Press Release, issued by CIFA, the aim of the event, held under the auspices of the Hellenic Fund and Asset Management Association, was to inform Greek fund managers about the opportunities, regulatory benefits, and tax advantages of establishing and operating Alternative Investment Funds in Cyprus.
During the conference, the latest developments in the investment fund sector were discussed, and views were exchanged, laying the groundwork for future beneficial collaborations. Among others, the President of the Cyprus Securities and Exchange Commission, George Theocharides, and the President of the Hellenic Capital Markets Commission, Vasiliki Lazarakou, shared their views with the attendees.
In her opening remarks, CIFA President Maria Panayiotou said that Cyprus is the choice of many investors and fun
d managers as a base, due to the multiple benefits it offers, regardless of where the investments are located.
‘Over the past few years, we have managed to be internationally recognized as a dynamic destination for investment funds and fund managers. Starting literally from scratch about ten years ago, today we have more than 330 licensed entities, most of them investment funds, managing assets of over pound 9 billion. Cyprus has more than 60 double taxation agreements, and even today, with the dramatic geopolitical developments in our region, its geographical location continues to radiate stability’, she added.
The upgraded role of Cyprus as a destination for investment funds was also mentioned during his welcome speech by the President of the Hellenic Fund and Asset Management Association, Chris Aesopos.
In his own welcome address, the Ambassador of the Republic of Cyprus in Athens, Stavros Avgoustides, stated that there has been a continuously increasing influx of fund managers, international investment
funds, and similar supporting organizations into Cyprus from various geographical regions, essentially recognizing the advantages of our country in this sector. The event was also addressed by Theoni Alampasis, Secretary General of the Financial Sector and Private Debt Management, of the Ministry of Economy and Finance.
CIFA’s goal is to strengthen Cyprus’ position as an international fund management center. Through continuous efforts in recent years, it has become possible to create an investor-friendly environment, both in terms of legislation and infrastructure.
Source: Cyprus News Agency