The New Law Puts Cyprus at the Forefront of Funds Jurisdictions
The Cyprus Funds Roadshow Series 2018-2019: LONDON, organised by the Cyprus Investment Funds Association (CIFA) and IMH, will place on 19 September 2018 at the Thomson Reuters Auditorium in Canary Wharf, London, United Kingdom. Key stakeholders from Cyprus as well as fund managers, professional service providers, financial institutions and other institutional investors based in the UK will be attending the event. The summit will analyse the local economy and investment climate, as well as the steps required when establishing a funds base in Cyprus. The local funds industry will be elaborated upon, together with the opportunities that present themselves for the funds industry in Cyprus.
Michael Pelosi, Legal Counsel at Elias Neocleous & Co LLC, spoke ahead of the summit about the advantages and prospects of Cyprus as an investment funds jurisdiction.
What is the importance of the Summit and how do you assess Cyprus’ effort in becoming an investment funds jurisdiction?
Coming soon after the enactment of Cyprus’s new law on alternative investment funds, the Summit is an excellent opportunity for investors to learn about the manifold benefits that Cyprus offers as a jurisdiction for investment funds. The new law, combined with the island’s other advantages, puts Cyprus at the forefront of funds jurisdictions.
What are the prospects, advantages and future of Cyprus as an investment funds jurisdiction?
Cyprus’s advantages are wide-ranging and compelling. It has a well-established, reliable legal infrastructure based on common law, which investors worldwide know and rely on. English is the lingua franca of business, making it easy for people from all countries to do business. As a member of the EU Cyprus offers access to the European Single Market of 500 million people through a well-regulated and reliable financial system. It has established itself as a leading financial and business centre, with world-class services and a simple, straightforward, stable tax system with low rates of tax and a comprehensive network of double tax agreements. The recent legislation offers funds and fund managers the best taxation regime in the EU for carried interest.
Which countries/regions are we interested in attracting clients from?
Cyprus’s strategic location and its comprehensive network of double tax agreements, covering more than 60 countries, make it attractive to clients from every part of the world.
What types of funds are of interest to Cyprus?
The flexibility of the new funds legislation makes Cyprus a good choice for all types of funds especially those in Cyprus’ rapidly emerging sectors of energy, hydrocarbons, real estate, shipping and education.
For further information on The Cyprus Funds Roadshow Series click here
SOURCE: GOLD NEWS