Businesses and companies that were based in Greece are being relocated to Cyprus, due to the prolonged economic uncertainty that prevails in the country.

General director of the Institute of Certified Public Accountants of Cyprus (ICPAC), Kyriakos Iordanous in his statements to the press after a meeting of a delegation of the association with a technocratic team of the international creditors and asked if there is a company registration flow from Greece to Cyprus lately, said yes.

He noted that what is happening in Greece affects Cyprus.

"On the other hand, in a number of areas we have no direct interconnection, and it may be an opportunity to attract additional investments and companies in our island, which for various reasons take the decision to move from Greece to other more stable financial destinations" he said.

International lenders have two meetings today with ICPAC.

One meeting was about the quarterly assessment with regard to measures taken to combat money laundering and the second one was about macroeconomics.

Mr. Iordanous expressed the view that the today’s assessment may confirm that "we have fully complied with the suggestions of the troika."

The general director of ICPAC expressed his satisfaction for the adoption of law provisions relating to the tax reform, which aims at attracting foreign investment.

"I believe," he said “that with the ‘weapons’ that the Republic of Cyprus holds, it may attract even more foreign investors with corresponding liquidity in the country."