Cyprus presents conditions for financial companies in London — Cyprus Mail

At an event in London, United Kingdom, Cyprus presented itself as a stable European base for international financial companies, asset managers and family offices. The meeting at the Financial Times premises was part of Invest Cyprus's efforts to attract investors, Cyprus Mail reports.

A bet on talent and regulation

Invest Cyprus Chairman Evgenios Evgeniou said that the country has changed significantly in recent years and is increasingly attracting financial institutions seeking a base for operating in broader international markets. According to him, Cyprus offers a combination of a legal and regulatory framework, tax conditions, quality of life and a relatively simple process for relocating companies and their employees.

Evgeniou particularly emphasized access to qualified personnel. He noted that international companies can hire Cypriot professionals as well as recruit specialists from abroad. In his assessment, the arrival of foreign companies and skilled workers over the past four years has become an important component of the country's economic growth.

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Financial operations in the Eastern Mediterranean

Participants in the London meeting discussed opportunities to locate back-office operations, family offices and wealth management activities in Cyprus. Companies already operating on the island were also invited to the discussion to share their experience of investing and expanding operations.

The event examined factors influencing the choice of a location for doing business and tax residency: connectivity, the availability of expertise, regulatory certainty, taxation and operating costs. Participants also discussed whether smaller financial centres can provide a sufficient number of specialized personnel amid the digitalization of the sector.

According to Evgeniou, Cyprus is one of the fastest-growing economies in the EU and has an A-level investment rating. Invest Cyprus said the London event is part of broader efforts to promote the island as an international financial centre for companies and investors operating in the Eastern Mediterranean and the Middle East.