Bank of Cyprus was one of the sponsors of the “Cyprus Congress” took place in Limassol, on the 15th and 16th of November 2012, aiming at exploring the opportunities that Cyprus provides to international business.

The congress was attended by more than 300 representatives from large and medium size companies from over 40 countries and covered topics with regards to:

• investment opportunities,
• business environment,
• international tax planning,
• corporate structuring, and
• personal and business relocation aspects in Cyprus.

Andreas Yiasemides, Head of Custody and Trust Department of Bank of Cyprus, gave a presentation on International Collective Investment Schemes (ICIS), which are licensed and supervised by the Central Bank of Cyprus. The purpose of an ICIS is the collective investment of funds injected in such schemes by ICIS investors. ICIS funds offer an attractive investment structure given that any asset can be included in the investment strategy of the fund and they provide substantial tax advantages. There is an increasing number of new ICIS funds being registered with the Central Bank of Cyprus, originating from a wide range of countries globally. Bank of Cyprus offers the full range of custody services to these funds.