The Board of Directors of the Cyprus Fiduciary Association has welcomed the statements made by Angelos Gregoriades, Chairman of the Cyprus Investment Funds Association (CIFA), during CIFA’s Annual General Meeting.
During his speech at the AGM on November 19, Gregoriades reported the need for the immediate development of specialized administrative services to investment funds, as a means of further promotion and development of the collective investments sector in Cyprus.
Cyprus, he said, should engage in such actions that will allow the country to enhance its credibility as an international business centre and to attract large international investment funds. The availability of specialized fund administration services is an important factor for foreign investors in deciding which jurisdiction to select, and therefore Cyprus should intensify its efforts for the development of such services.
Gregoriades further reported that these services will be provided by Administrative Services Providers (ASPs), which are currently supervised by the Cyprus Securities & Exchange Commission, the Institute of Certified Public Accountants of Cyprus and the Cyprus Bar Association.
During his speech at the AGM on November 19, Gregoriades reported the need for the immediate development of specialized administrative services to investment funds, as a means of further promotion and development of the collective investments sector in Cyprus.
Cyprus, he said, should engage in such actions that will allow the country to enhance its credibility as an international business centre and to attract large international investment funds. The availability of specialized fund administration services is an important factor for foreign investors in deciding which jurisdiction to select, and therefore Cyprus should intensify its efforts for the development of such services.
Gregoriades further reported that these services will be provided by Administrative Services Providers (ASPs), which are currently supervised by the Cyprus Securities & Exchange Commission, the Institute of Certified Public Accountants of Cyprus and the Cyprus Bar Association.
