”The Asset Management sector has always been at the forefront of change and innovation and to succeed in this space you need to be agile and future-focused, like our Israeli counterparts” said Ms. Christia Evagorou, Director at PwC Cyprus. “The Israeli Asset Management scene is indeed one that places importance on innovation and for this reason it is attracting considerable attention from international investors” she explained.
On the other hand, “Cyprus’ regulatory and legal framework is classed as one of the most flexible in the EU, while maintaining high levels of investor protection” said Ms. Nayia Ziourti, Advocate and Director at PwC Cyprus. Indeed, Cyprus’ legal system which is modelled on the English legal system, is attractive to many investors and managers. “Both the private and public sector are placing a lot of emphasis on making Cyprus one of the most attractive Fund and Asset Management jurisdictions by offering a comprehensive solution to the modern Asset Managers and Investors” added Evagorou.
“An Israeli investment fund or any fund-related company interested in doing business in Cyprus can take advantage of the flexible legal system, low set-up and maintenance costs, as well as the attractive tax regime and use Cyprus as their getaway to Europe” Ziourti clarified.
PwC Cyprus Fund Services team can assist Israeli Funds and Fund Managers to build the right setup, advise on legal, tax, regulatory, employment matters, all the way through to the actual implementation and ongoing support with all business matters that would typically concern their clients. “Our team consists of qualified accountants, certified professionals by the Cyprus Securities and Exchange Commission (CySEC), experienced lawyers and active members of the Cyprus Investment Funds Association (CIFA). As such, they can assist Israeli Funds, Asset and Fund Managers in all aspects of structuring, setting up and maintaining a fund and/or a fund manager in Cyprus, including assistance with the licensing process and the ongoing administration as well as offering legal, tax and compliance services” said Ziourti.
“PwC Cyprus is very actively involved in shaping the local funds industry, not only through supporting our clients’ businesses but also through the contribution of our Funds’ Services Leader, Mr Andreas Yiasemides, who is also the President of CIFA, the local association responsible for the advancement of the Funds and Asset Management industry in Cyprus” concluded Evagorou.
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