Cyprus Film Sector Guide 2021
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<strong>Cyprus</strong>Profile Digital Series<br />
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<strong>Cyprus</strong>Profile Digital Series<br />
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<strong>Cyprus</strong>Profile Digital Series<br />
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Contents<br />
<strong>Cyprus</strong> at a Glance: Key Facts & Figures 6<br />
<strong>Sector</strong> Profile: In the Spotlight 12<br />
The Benefits: Key Benefits of <strong>Cyprus</strong> 21<br />
Why <strong>Cyprus</strong>? Insights from the <strong>Cyprus</strong> <strong>Film</strong> Commission 24<br />
The Incentives: List of incentives for qualifying production categories 30<br />
Video: <strong>Cyprus</strong> – A Natural <strong>Film</strong> Studio 34<br />
<strong>Film</strong> in <strong>Cyprus</strong>: Structure and stakeholders of the <strong>Cyprus</strong> <strong>Film</strong> Commission 35<br />
Who’s Who in <strong>Cyprus</strong>: The definitive guide to <strong>Cyprus</strong>’ leading<br />
companies, executives and professional advisors 37<br />
4
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<strong>Cyprus</strong> at a Glance<br />
Lying at the crossroads of Europe, Asia and Africa, <strong>Cyprus</strong><br />
has long served as a major eastern trading post. It is a small<br />
country, but the third largest island in the Mediterranean<br />
Sea and shares a maritime border with Egypt 300km to the<br />
south, Lebanon 108km to the east and Turkey 71km to the<br />
north, while mainland Greece lies 800km to the north-west.<br />
With 10,000 years of history, the island’s strategic location has<br />
long made it a jewel in the crown of the powers of the day.<br />
35ºN 33ºE<br />
Paphos<br />
(Pafos)<br />
95,400<br />
Paphos<br />
International<br />
Airport<br />
Limassol<br />
(Lemesos)<br />
248,300<br />
Nicosia<br />
(Lefkosia)<br />
Population:<br />
346,400<br />
Larnaca<br />
International<br />
Airport<br />
Famagusta<br />
(Ammochostos)<br />
48,900<br />
Larnaca<br />
149,000<br />
TOTAL POPULATION<br />
880,000<br />
Republic of <strong>Cyprus</strong><br />
CURRENCY<br />
Euro (€)<br />
Non-<br />
Cypriot<br />
18%<br />
Cypriot<br />
82%<br />
6
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MEMBERSHIPS<br />
EU & Eurozone<br />
World Trade<br />
Organization<br />
United Nations<br />
Council of Europe<br />
Commonwealth<br />
World Bank & IMF<br />
OFFICIAL LANGUAGES<br />
Greek &<br />
Turkish<br />
(business generally<br />
conducted in English)<br />
MAIN MEDIA<br />
<strong>Cyprus</strong> Mail<br />
Phileleftheros<br />
Politis<br />
CyBC<br />
TIME<br />
+2 Hours<br />
ahead of GMT<br />
AREA / SIZE<br />
9,251 km 2<br />
(3,355 km 2 in the occupied area)<br />
POPULATION DENSITY<br />
94<br />
(persons per km 2 )<br />
SUNSHINE<br />
340 Days<br />
of sunshine / year<br />
MEDIAN AGE<br />
37.7<br />
RELIGION<br />
ANNUAL RAINFALL<br />
790.1 mm<br />
average<br />
89.1%<br />
Greek<br />
Orthodox<br />
AVERAGE TEMPERATURE<br />
Winter<br />
Summer<br />
+ 13ºC + 34ºC<br />
2.9% Roman Catholic<br />
2.0% Protestant/Anglican<br />
1.8% Muslim<br />
1.7% Unknown/Atheist<br />
1.4% Other 1.0% Buddhist<br />
8
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Oneworld Plus Management Ltd is licenced by CySEC under license no. AIFM35/56/2013.
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Business Figures<br />
GDP BY SECTOR<br />
CORPORATE<br />
TAX RATE<br />
12.5%<br />
TIME TO START<br />
UP A BUSINESS<br />
1-3 days<br />
11.5%<br />
Taxes &<br />
subsidies<br />
74.1%<br />
Services<br />
GDP PER CAPITA<br />
€24,157<br />
(2020)<br />
INFLATION<br />
-1.1%<br />
(2020)<br />
5.5%<br />
Construction<br />
7.0%<br />
Mining,<br />
manufacturing,<br />
electricity & water<br />
1.9%<br />
Agriculture,<br />
forestry & fishing<br />
TOTAL GDP<br />
€21.5 billion<br />
(2020)<br />
GDP GROWTH<br />
5.4%<br />
(<strong>2021</strong>f)<br />
ACCOUNTING<br />
STANDARD<br />
IFRS<br />
CRIME<br />
0.9 per 100 persons<br />
<strong>Cyprus</strong> is the safest country in the<br />
world for young people out of<br />
184 countries across the globe.<br />
INTERNATIONAL RANKINGS<br />
STANDARD<br />
& POOR’S<br />
BBB-<br />
(October <strong>2021</strong>)<br />
FITCH<br />
BBB-<br />
(March <strong>2021</strong>)<br />
MOODY’S<br />
Ba1<br />
(October <strong>2021</strong>)<br />
UNEMPLOYMENT<br />
7.5%<br />
(<strong>2021</strong>f)<br />
MAIN TRADING PARTNERS<br />
UK<br />
Germany<br />
Italy<br />
France<br />
Greece<br />
Israel<br />
China<br />
10
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
SECTOR PROFILE<br />
In the Spotlight<br />
<strong>Cyprus</strong> is claiming a stake in the international<br />
film industry by providing the right incentives<br />
to maximise its untapped potential as a<br />
competitive and versatile filming location.<br />
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Despite the devastating impact of the coronavirus pandemic on the international<br />
film industry, the future of <strong>Cyprus</strong> film and the appeal of<br />
the island as an attractive filming location continues to look bright.<br />
Following the challenges of 2020, film productions and festivals have been resuming<br />
operations and finding new ways to forge ahead safely in the ‘new normal’<br />
of a post-pandemic world.<br />
<strong>Cyprus</strong> has long been on the radar of<br />
the international film community, but<br />
truly caught its attention with the official<br />
launch of its long-awaited incentive<br />
framework in 2018, establishing itself<br />
as a new Mediterranean film location<br />
branded ‘Olivewood’. In addition to attracting<br />
its first few Hollywood feature<br />
<strong>Film</strong>s shot and produced in<br />
<strong>Cyprus</strong> have been screened<br />
at the Cannes and Venice<br />
<strong>Film</strong> Festivals, and have won<br />
awards and acclaim at the<br />
Tribeca, Quebec and Palm<br />
Springs <strong>Film</strong> Festivals.<br />
films to be shot on the island under the new scheme, <strong>Cyprus</strong> also hosts a solid<br />
local industry with international expertise to support the growth of this sector.<br />
<strong>Film</strong>s shot and produced in <strong>Cyprus</strong> have been screened at the Cannes and Venice<br />
<strong>Film</strong> Festivals, and have won awards and acclaim at the Tribeca, Quebec and Palm<br />
Springs <strong>Film</strong> Festivals over the last few years. A good example of this is the Cypriot<br />
film Smuggling Hendrix, which received the Best International Narrative Feature<br />
at Tribeca <strong>Film</strong> Festival in 2018.<br />
13
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The <strong>Cyprus</strong> incentive scheme has a number of<br />
benefits aimed at local and foreign producers<br />
that opt to film in <strong>Cyprus</strong>, one of which<br />
is a cash rebate or tax credit of up to 40%<br />
on qualifying production expenditures.<br />
Ancient Odeon Amphitheatre in Paphos<br />
In <strong>2021</strong>, <strong>Cyprus</strong> participated in the prestigious Cannes <strong>Film</strong> Festival with its traditional<br />
stand at the South East Europe pavilion in the International Village, and the<br />
country’s film industry was pitched to major stakeholders with a double showing<br />
of two Cypriot productions with Hollywood stars – the action-packed SOS Survive<br />
and Sacrifice featuring William Baldwin and horror film The Ghosts of Monday<br />
starring Julian Sands. Also the first Hollywood movie to be entirely shot in <strong>Cyprus</strong><br />
under the incentive scheme, Jiu Jitsu starring Nicolas Cage, has done well and has<br />
been selected for distribution by Paramount Home Entertainment.<br />
These films employed more than 400 Cypriot film professionals demonstrating<br />
the scope of available talent and crew in the country to cater to big-budget and<br />
technically complex film productions. But the introduction of one of the most advantageous<br />
fiscal incentive schemes, was the catalyst that has sparked real interest<br />
and investment for <strong>Cyprus</strong> to promote itself as a top filming destination and to<br />
enter the international audiovisual market with an attractive proposition. Since<br />
then, producers from Hollywood, Bollywood and many other European countries<br />
have been sizing up the island for future productions thanks to the perks provided<br />
by the scheme.<br />
Konnos Bay in Cavo Greko National Park<br />
14
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<strong>Film</strong> Production<br />
SUPPORTING THE SILVER SCREEN<br />
The creation of a dedicated <strong>Film</strong> Commission and incentive scheme was crucial for<br />
the future growth of the Cypriot audiovisual industry, and also provides a boost to<br />
the overall economy with significant investments and multiple benefits to promote<br />
the country worldwide.<br />
The scheme, which is run by Invest <strong>Cyprus</strong> – the country’s investment promotion<br />
agency – has an annual budget of €25 million for reimbursement purposes.<br />
The package has a number of benefits aimed at both local and foreign producers<br />
that opt to film in <strong>Cyprus</strong>, one of which is a cash rebate or tax credit of up to 40%<br />
on qualifying production expenditures.<br />
Production houses can also benefit<br />
from tax allowances of up to 20% for<br />
investment in infrastructure and equipment,<br />
as well as Value Added Tax (VAT)<br />
returns on expenditure in scope.<br />
Within the scheme, the qualifying<br />
production categories include feature<br />
films, television films, series and mini-series,<br />
creative documentaries,<br />
digital and analogue animation, television<br />
research programmes and natural<br />
The creation of a dedicated<br />
<strong>Film</strong> Commission and<br />
incentive scheme was crucial<br />
for the future growth of the<br />
Cypriot audiovisual industry,<br />
and also provides a boost to<br />
the overall economy with<br />
significant investments and<br />
multiple benefits to promote<br />
the country worldwide.<br />
history programmes. In addition, trans- and crossmedia productions and reality<br />
programmes that directly or indirectly promote the Republic of <strong>Cyprus</strong> can also<br />
apply. Productions will also score extra points if they satisfy a number of cultural<br />
criteria such as hiring local actors in leading roles, highlighting local or international<br />
cultural elements and using the local language.<br />
Marianna Rosset from Altadium promoting Cypriot productions at the 74th Cannes <strong>Film</strong> Festival<br />
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PREDICTABLE CLIMATE AND DIVERSE SCENERY<br />
A<br />
key advantage of <strong>Cyprus</strong> for film<br />
production is the predictability<br />
of its climate. With over 300<br />
days of sunshine a year the island is a<br />
true year-round destination. The abundance<br />
of natural light is a key aspect of<br />
film production and it should be noted<br />
that <strong>Cyprus</strong> and Los Angeles are almost<br />
on the same latitude. The hot and dry<br />
summer is from May to October, and<br />
the mild and green winters with occasional<br />
rain are from December to<br />
February. There are clear distinctions<br />
between the two seasons, which are<br />
separated by a short autumn and spring<br />
when the island’s flora is in full bloom.<br />
<strong>Cyprus</strong> also provides much variety<br />
in terms of its natural landscape. Its<br />
648 km of coastline presents rocky<br />
coves, stretches of beautiful pebble<br />
and sandy beaches, lighthouses, ports<br />
both big and small, as well as some of<br />
the cleanest beaches and waters in the<br />
Mediterranean Sea. In Nicosia, the flat<br />
plains look like a desert in the peak<br />
of summer, but are transformed to a<br />
lush green during winter months. In<br />
the centre of the island, the pine-clad<br />
Troodos mountains provide stunning<br />
Its 648 km of coastline presents<br />
rocky coves, stretches of<br />
beautiful pebble and sandy<br />
beaches, lighthouses, ports both<br />
big and small, as well as some of<br />
the cleanest beaches and waters<br />
in the Mediterranean Sea.<br />
hilltops, valleys, waterfalls and picturesque vineyards and traditional villages, with<br />
its peaks covered in snow in the winter. Larnaca offers cityscapes and salt lakes<br />
teeming with flamingos in the winter, while Paphos – the legendary birthplace<br />
of Aphrodite – has more historical sites, beautiful beaches and hills, the Akamas<br />
Nature Reserve and banana plantations scattered along its coast.<br />
The Venetian Tzelefos Bridge in Paphos<br />
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<strong>Film</strong> Production<br />
The medieval Kolossi Castle in Limassol<br />
The island has a rich historical and cultural landscape featuring various historical<br />
periods, ranging from archaeological sites to quaint villages and modern cities.<br />
<strong>Cyprus</strong> offers endless opportunities for film makers with its ruins of ancient city<br />
kingdoms with pillars and amphitheatres, Venetian bridges tucked away within the<br />
forest hills, ancient aqueducts, Byzantine art and architecture, as well as the unique<br />
16 TH century Venetian city walls and heart-shaped bastions of Nicosia that protect<br />
the labyrinthine streets of the vibrant old city. The coastal city of Limassol offers a<br />
modern and more cosmopolitan city scape. The luxury Limassol Marina juts into<br />
the sea adjacent to the old town and the medieval Limassol Castle, where according<br />
to legend Richard the Lionheart married Berengaria of Navarre and crowned<br />
her Queen of England in 1191. Also near Limassol is the Kolossi Castle, which is<br />
a former Crusader stronghold of the Knights of the Order of St John of Jerusalem<br />
and was briefly taken over by the Knights Templar in 1306.<br />
Flamingos in front of Hala Sultan Tekke Mosque in Larnaca<br />
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<strong>Film</strong> Production<br />
EXPERIENCED POOL OF PROFESSIONALS<br />
<strong>Cyprus</strong> has a strong pool of multilingual professionals working in the film and<br />
television sector with international training and experience. An added benefit<br />
is that English is almost universally spoken on the island. Production and<br />
post-production crew such as directors, producers, DPs, camera operators, sound<br />
technicians, editors, location managers, photographers, grips, gaffers, production<br />
assistants, fixers, as well as wardrobe, hair and make-up professionals can be found<br />
relatively easily.<br />
<strong>Cyprus</strong> also has production equipment<br />
rental companies with high-end<br />
and reliable kit to support foreign teams<br />
filming on the island, or to hire second<br />
unit crews. These companies have a<br />
strong track record in working with<br />
both local and international crews and<br />
networks on productions of all sizes,<br />
ranging from feature films and documentaries,<br />
to music videos and TV ads.<br />
Although the country does not yet<br />
have big studios or sound stages, there<br />
Production and postproduction<br />
crew such as<br />
directors, producers, DPs,<br />
camera operators, sound<br />
technicians, editors, location<br />
managers, photographers,<br />
grips, gaffers, production<br />
assistants, fixers, as well<br />
as wardrobe, hair and<br />
make-up professionals can<br />
be found relatively easily.<br />
are a number of smaller studio owners that can cater to the needs of foreign producers.<br />
In fact, the government has identified this niche as a potential investment opportunity<br />
as the sector grows further. The pandemic has been another key driver to build<br />
bespoke soundstages for productions to be able to implement stringent measures<br />
and work in a more controlled space for the safety of the entire cast and crew. Also<br />
technology plays an ever-increasing role in the industry, and to keep things moving<br />
in these social distancing times some Cypriot production houses have also started<br />
offering ‘remote filming’ services, which allow producers and directors overseas or<br />
locally to direct shoots or monitor production on-set through live streaming.<br />
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<strong>Film</strong> Production<br />
MODERN INFRASTRUCTURE AND TRANSPORT LINKS<br />
<strong>Cyprus</strong>’ advanced infrastructure is constantly being upgraded and offers road,<br />
air and sea transport solutions and services. The Republic of <strong>Cyprus</strong> has two<br />
multipurpose deep-sea ports and two international airports, Larnaca and<br />
Paphos, which under normal pre-pandemic circumstances were served by over 70<br />
airlines, operating to 120 destinations in 40 countries. Located at the crossroads<br />
of three continents, <strong>Cyprus</strong> is a short flight away from some of the most prominent<br />
transit hubs in the world. Direct flights are available to <strong>Cyprus</strong> from all the<br />
major cities of Western and Eastern Europe, as well as the Middle East and Gulf<br />
region. This is a key factor for productions with multiple locations in Europe and<br />
the Middle East.<br />
Due to its small size, internal distances are short between all cities, which are<br />
also all under 100 km from one of the two international airports. For example,<br />
within an hour’s drive it is possible to go from a snow-capped mountain to a sunny<br />
beach. The island’s road network is well mapped and signposted in both Greek<br />
and English, and navigating across the country is easy and safe. There are multiple<br />
companies that rent a variety of vehicles on both a short- or long-term basis,<br />
and thanks to the island’s status as a popular holiday destination <strong>Cyprus</strong> offers<br />
every conceivable type of accommodation – ranging from low-budget hotels and a<br />
growing number of five-star luxury resorts, to villas and agritourism houses.<br />
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<strong>Film</strong> Production<br />
DEVELOPING OLIVEWOOD<br />
<strong>Cyprus</strong> has great potential to<br />
develop a thriving film sector.<br />
The island’s natural beauty, local<br />
talent, great climate, and versatile locations<br />
that could double-up as various<br />
destinations from virtually anywhere<br />
in the world offer boundless creativity<br />
and opportunities for film directors.<br />
However, to capitalise on the immense<br />
potential of this versatile island, <strong>Cyprus</strong><br />
must invest in crucial infrastructure<br />
such as purpose-built studios and implement<br />
more strategies to support the<br />
growth of a truly international industry<br />
to attract major players to its shores.<br />
Knock-on effects of fostering this<br />
sector will also create more jobs and<br />
indirectly enhance complementary<br />
sectors such as cinema tourism, professional<br />
services, land development and<br />
investment funds related to film. <strong>Cyprus</strong>, with its cinematic environment, has set<br />
the scene for those with vision, and with a robust government-backed framework<br />
in place, the country can now turn this interest into real action. n<br />
READ<br />
MORE<br />
• <strong>Cyprus</strong> Economy Overview<br />
• Expat <strong>Guide</strong> to Living in <strong>Cyprus</strong><br />
• Buying Property in <strong>Cyprus</strong><br />
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THE<br />
BENEFITS<br />
Incentives<br />
• <strong>Cyprus</strong> <strong>Film</strong> Scheme<br />
• Variety of tax incentives for corporates and individuals<br />
• Attractive IP regime<br />
Ancient City-Kingdom of Kourion in Limassol<br />
• Diverse landscapes rarely seen on screen<br />
• Ideal weather conditions for year-round filming<br />
• Short internal distances and good global air connectivity<br />
• Modern infrastructure and advanced telecoms<br />
• Centuries of history, art and culture<br />
• Access to local talent pool<br />
Benefits<br />
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• May to October: hot and dry summer<br />
• December to February: mild and green winter with occasional rain<br />
300+ Days<br />
of Sunshine<br />
Snow-covered Troodos in winter<br />
Location<br />
Located at the crossroads of three continents,<br />
<strong>Cyprus</strong> is a short flight away from some of the<br />
most prominent transit hubs in the world.<br />
22
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
Major International<br />
<strong>Film</strong> Festivals in <strong>Cyprus</strong><br />
• <strong>Cyprus</strong> <strong>Film</strong> Days International Festival<br />
• The International Short <strong>Film</strong> Festival of <strong>Cyprus</strong><br />
23
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
WHY<br />
CYPRUS?<br />
Insights from the <strong>Cyprus</strong> <strong>Film</strong> Commission<br />
What current opportunities and<br />
future potential do you see in<br />
THE CYPRUS FILM SECTOR?<br />
24
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
George Campanellas, CEO, Invest <strong>Cyprus</strong><br />
What current opportunities<br />
and future potential do you see<br />
in the <strong>Cyprus</strong> film sector?<br />
Invest <strong>Cyprus</strong> undertook the responsibility since 2018 of developing the film<br />
industry by promoting <strong>Cyprus</strong> as a unique film destination as well as chairing<br />
the <strong>Cyprus</strong> <strong>Film</strong> Commission that manages the <strong>Cyprus</strong> <strong>Film</strong> Scheme. To this<br />
end, we participate in all the major filming events and we are also active members<br />
of both the European <strong>Film</strong> Commission Network (EUFCN) and the Association of<br />
<strong>Film</strong> Commissioners International (ADCI).<br />
In an effort to attract international movie makers, the scheme is constantly being<br />
improved in order to stay competitive compared to other film commissions but<br />
also help the growth of the local film industry. As a result of the latest amendments<br />
of the scheme, the government introduced amongst others a cash rebate of up to<br />
40%. This promising change along with simplified procedures will offer a more<br />
attractive scheme for foreign productions looking to take advantage not only of<br />
the incentives offered by the scheme but also the natural beauty of the island that<br />
serves as a natural film studio, the favourable lighting conditions, short internal<br />
distances but most importantly the dedicated local professionals.<br />
The year 2020 may have been a difficult year for the film industry but the future<br />
sounds promising since many producers from around the world (USA, Russia,<br />
Middle East and EU) have either expressed their interest or have already started<br />
filming their movies here. During the pandemic, some may say that due to the<br />
small size of the island as well as the favourable weather conditions, <strong>Cyprus</strong> had<br />
a good epidemiological situation compared to other countries, something that<br />
allowed shoots to continue by following all the necessary protocols.<br />
25
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
Constantinos Petrides, Minister of Finance<br />
What current opportunities<br />
and future potential do you see<br />
in the <strong>Cyprus</strong> film sector?<br />
The Ministry of Finance is implementing an economic policy aiming at enhancing<br />
the diversification of the <strong>Cyprus</strong> economy through the development<br />
of new sectors of economic activity. Within this policy framework, the<br />
filming industry is one of the sectors that is being developed through the introduction<br />
of a state aid scheme in accordance with the relevant EU acquis. To this end,<br />
the scheme aims at the promotion of the film industry and <strong>Cyprus</strong> as a destination<br />
for filming.<br />
The said scheme constitutes the policy framework which is based on financial<br />
and tax incentives to international and local film producers. Through the scheme<br />
investments in the film industry are encouraged through a tax deduction regime.<br />
The companies that opt to use the scheme can choose to benefit from a cash rebate<br />
scheme and/or tax credit scheme on tax allowance for investments in cultural infrastructure<br />
and equipment. Minimum expenditure in <strong>Cyprus</strong> needs to come to at<br />
least €200,000 in the case of feature films, €100,000 for television series, €50,000<br />
for documentaries for television or cinema broadcasting and €30,000 for other<br />
television programs.<br />
Under the current scheme, <strong>Cyprus</strong> has attracted until now a significant number<br />
of productions, international and local, and has started to build on these experiences<br />
to further develop the sector.<br />
Besides the cultural advantages of the scheme, it will be beneficial to<br />
the <strong>Cyprus</strong> economy in creating high value added jobs and raising the<br />
potential of economic growth, especially in this sector that was greatly<br />
affected by the Covid-19 pandemic and the restrictions imposed on<br />
the entertainment sector.<br />
We intend to prolong the implementation of the scheme, as far as<br />
the European regulation on state aid allows, until the end of 2023, in<br />
order to boost a very promising sector that shows great potential for<br />
diversifying the economy, by investors in non-traditional sectors, that<br />
also effect greatly the attractiveness of the island as a tourist destination<br />
and therefore offering great support to an economy<br />
during the post-pandemic era. We aspire to share the<br />
confidence of the industry, as time progresses and<br />
develop further the infrastructure so as to offer all<br />
of the amenities, besides the natural scenery of the<br />
island, to the entertainment sector.<br />
26
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
Prodromos Prodromou, Minister of Education, Culture, Sports and Youth<br />
What current opportunities<br />
and future potential do you see<br />
in the <strong>Cyprus</strong> film sector?<br />
Recognising the power of cinema in shaping and educating modern societies,<br />
its immense intercultural value, as well as the multifaceted benefits it offers<br />
to the economy of the country, our Ministry has exhibited, these past years,<br />
significant activity in various aspects of film production and professional training.<br />
In collaboration with other ministries and organisations, it has also implemented<br />
incentives for international film productions in <strong>Cyprus</strong>. Taking advantage of<br />
its geographical location, the natural environment and the climate, as well as the<br />
cultural heritage that carves the landscape, <strong>Cyprus</strong> aims to open up to the international<br />
film industry.<br />
Despite starting late compared to other European countries, <strong>Cyprus</strong> has managed<br />
to develop a holistic policy, in line with EU Directives, covering all aspects of the<br />
universal and fascinating art of cinema, both on and off camera. This includes<br />
placing emphasis on educating our youth to creatively use audiovisual means,<br />
acquire critical thinking and develop perception of aesthetics.<br />
Our targeted work also involves promoting Cypriot cinema overseas and making<br />
every effort to ensure that our audiovisual and film professionals participate in international<br />
activities and events and that <strong>Cyprus</strong> is present at the film markets of<br />
some of the most prestigious festivals, such as Berlin, Cannes and Thessaloniki.<br />
Moreover, <strong>Cyprus</strong> is a founding member of Eurimages, a member of the European<br />
<strong>Film</strong> Agency Directories and European <strong>Film</strong> Promotion, and participates in the<br />
media programme of Creative Europe and prestigious networks such as the South<br />
East European <strong>Film</strong> Network.<br />
27
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
Limassol<br />
I would be remiss not to mention the significant development and increasing<br />
global recognition of the island’s two major international film festivals: <strong>Cyprus</strong><br />
<strong>Film</strong> Days International Festival and the International Short <strong>Film</strong> Festival of<br />
<strong>Cyprus</strong>. Furthermore, the rapid development of local film production through<br />
the establishment of reliable production companies, as well as the talented new<br />
generation of filmmakers who have received multiple international awards over<br />
past years – such as Smuggling Hendrix, which received the Best International<br />
Narrative Feature at Tribeca <strong>Film</strong> Festival 2018 – clearly demonstrate the solid<br />
basis of our policy related to the audiovisual sector.<br />
The prospects for Cypriot cinema are indeed immense. Having successfully<br />
supported our film community through the pandemic, mainly by putting in<br />
place special funding programmes and promoting initiatives with an emphasis<br />
on online screenings, we look forward to the island’s rich landscape and dynamic<br />
network of film professionals leading to further development of the industry and<br />
to synergies with foreign producers. Considering the cultural and financial significance<br />
of cinema, we intend, in the near future, to expand the sector by increasing<br />
funding, providing new incentives and encouraging international co-productions.<br />
Additionally, with the contribution of the private sector, we are extending our<br />
efforts for film professionals’ training, an essential requirement for additional job<br />
opportunities. The Deputy Ministry of Culture, which is expected to be established<br />
shortly, will greatly contribute to the promotion of our activities and the tackling of<br />
new challenges related to the future of cinema for <strong>Cyprus</strong>.<br />
Paphos Castle<br />
28
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
Savvas Perdios, Deputy Minister of Tourism<br />
What current opportunities<br />
and future potential do you see<br />
in the <strong>Cyprus</strong> film sector?<br />
As a Ministry which participates in the <strong>Cyprus</strong> <strong>Film</strong> Commission and receives<br />
feedback on the interest shown by foreign production companies in <strong>Cyprus</strong>,<br />
the attractiveness of <strong>Cyprus</strong> as a film destination, and the development of the<br />
sector, we estimate that in the future the scope for which the scheme was created<br />
can be met. In particular, it can make <strong>Cyprus</strong> a film destination and to attract renowned<br />
film productions, boost the development of the local audiovisual industry<br />
in a holistic way and support the development of tourism and a circular economy.<br />
From a tourism perspective, we believe that the <strong>Cyprus</strong> film sector has great<br />
potential for growth, if we manage to capitalise on, and adequately promote, what<br />
<strong>Cyprus</strong> has to offer and its uniqueness as an ideal filming location. Its pleasant<br />
Mediterranean climate offers year-round sunshine making it possible to shoot<br />
for long hours, distances are short both internally and to neighbouring countries,<br />
there is a large variety of captivating scenery, centuries of art and culture as well<br />
as multi-diversified natural, cultural and social heritage. There is also a well-established<br />
tourism infrastructure offering a wide range<br />
of accommodation and leisure options. Added advantages<br />
are that English is widely spoken, and<br />
<strong>Cyprus</strong> has been a member of the EU since<br />
2004, adopting the Euro as its national currency<br />
in 2008.<br />
In addition, location and a convenient time<br />
zone provide good opportunities for productive<br />
workflow. Located at the eastern end of<br />
Europe, <strong>Cyprus</strong> is at the crossroads of three<br />
continents, Europe, Africa and Asia and shows<br />
diversified civilizations, settings, biodiversity,<br />
social attitude, and is suitable to meet<br />
production requirements. <strong>Cyprus</strong> is well<br />
connected and easily reachable with its sophisticated<br />
road, air and sea transport solutions<br />
and services, and is a maximum of<br />
2 hours of flight duration from other<br />
major neighbouring countries.<br />
29
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
THE<br />
INCENTIVES<br />
Production companies that opt to film in <strong>Cyprus</strong> will be able to<br />
choose between cash rebate or tax credit and can also benefit<br />
from tax discounts on investments made on equipment and<br />
infrastructure, and VAT returns on expenditure in scope.<br />
Qualifying<br />
Production<br />
Categories<br />
• Feature <strong>Film</strong>s, long films with<br />
a minimum duration of 1 hour<br />
or 45 minutes for IMAX<br />
• Television <strong>Film</strong>s, Series,<br />
or Mini-Series<br />
• Creative Documentaries<br />
• Animated <strong>Film</strong>s<br />
• Reality Programmes that<br />
promote <strong>Cyprus</strong><br />
Cash Rebate<br />
• Rebate of up to 40% of eligible expenditures incurred in<br />
<strong>Cyprus</strong> will be granted, where the amount will depend<br />
on the score of the production at the cultural test<br />
• The rebate will be given once filming is completed, on receipt<br />
of the audit report and its review by the committee<br />
• The minimum expenditure (provided it does not exceed 50%<br />
of the total production budget) needs to be at least:<br />
• €200,000 for feature films<br />
• €100,000 for TV drama series or self-contained drama films<br />
• €50,000 for TV documentaries or cinema broadcast<br />
• €30,000 for other TV programmes<br />
30
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
Tax Credit<br />
• As an alternative to cash rebate,<br />
tax credit, offers a reduction of the<br />
corporate tax liability of the company<br />
responsible for the implementation<br />
of a production, with the same<br />
criteria that apply for cash rebate<br />
• The sum of the tax credit against<br />
the taxable income shall not exceed<br />
50% of the Applicants’ taxable<br />
income for the tax year within<br />
which the production is made<br />
• The tax credit, to the extent that<br />
it is not granted due to the above<br />
percentage restriction, shall be<br />
carried forward and be given within<br />
the next five years, subject to the<br />
above percentage restriction<br />
31
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
Tax Discount for<br />
Investment in<br />
Infrastructure<br />
and Equipment<br />
• Any small and medium-sized enterprise<br />
subject to a tax liability in <strong>Cyprus</strong> investing in<br />
cinematographic infrastructure and technological<br />
equipment will be entitled to deduct the amount<br />
of its investment from its taxable income<br />
• The aid may not exceed 20% of the<br />
qualifying production expenditures in the<br />
case of small enterprises and 10% of the<br />
qualifying production expenditures in the<br />
case of medium-sized enterprises<br />
• Investment in the case of equipment<br />
should remain in the territory of <strong>Cyprus</strong><br />
for a period of at least five years<br />
32
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
VAT Refund<br />
on Qualifying<br />
Production<br />
Expenditures<br />
• For qualifying production<br />
expenditures incurred in <strong>Cyprus</strong><br />
by natural or legal persons from<br />
third countries and which are<br />
related to the implementation<br />
of productions, the company<br />
is entitled to a refund of VAT<br />
• VAT rates in the Republic of<br />
<strong>Cyprus</strong> are 19%, 9% and 5% on all<br />
products and services provided in<br />
the Republic of <strong>Cyprus</strong>, and 19%<br />
and 5% on all taxable imports<br />
• VAT returns arise within six<br />
months with respect to the legal<br />
person who carries out the<br />
foreign filming in <strong>Cyprus</strong> from<br />
the end of the last deadline for<br />
submitting the VAT declaration<br />
for the specific VAT period, during<br />
which the expense occurred<br />
or from the date on which the<br />
application for VAT return is filed<br />
33
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
<strong>Cyprus</strong>: A Natural <strong>Film</strong> Studio<br />
Connect with film professionals in <strong>Cyprus</strong><br />
Actors • Directors • Line Producers • Photographers<br />
Producers • Sound Technicians • Studio Owners<br />
34
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Production<br />
CYPRUS FILM COMMISSION<br />
The <strong>Cyprus</strong> <strong>Film</strong> Commission is chaired by Invest <strong>Cyprus</strong>, and consists of<br />
representatives of the Ministry of Finance, Ministry of Education and<br />
Culture and the Deputy Ministry of Tourism. The Commission is the responsible<br />
body for examining all applications, while the remit of Invest<br />
<strong>Cyprus</strong> is to promote the incentive scheme abroad, facilitate productions<br />
and foster connections with the local industry through an online platform branded<br />
<strong>Film</strong> in <strong>Cyprus</strong>. Interested parties can submit their applications for the scheme<br />
through the portal, which also provides more detailed information on qualifying<br />
criteria. In addition, continuous support is provided by Invest <strong>Cyprus</strong> in cooperation<br />
with the relevant ministries and governmental departments in matters such<br />
as permits, importing and exporting equipment and other necessary instructions.<br />
CYPRUS FILM COMMISSION IS AFFILIATED WITH<br />
35
40%<br />
40%
<strong>Cyprus</strong>Profile Digital Series<br />
<strong>Film</strong> Who’s Production Who - <strong>Cyprus</strong> Business Directory<br />
The definitive guide to <strong>Cyprus</strong>’ leading companies,<br />
executives and professional advisers.<br />
1
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
ACCOUNTING & AUDITING<br />
Baker Tilly South East Europe........................................................................................ 6<br />
Deloitte <strong>Cyprus</strong>................................................................................................................. 9<br />
EY <strong>Cyprus</strong> .......................................................................................................................10<br />
Grant Thornton <strong>Cyprus</strong>.................................................................................................11<br />
Joannides + Co Ltd.........................................................................................................12<br />
KPMG..............................................................................................................................12<br />
Nexia Poyiadjis ...............................................................................................................14<br />
PwC <strong>Cyprus</strong>....................................................................................................................15<br />
ServPro Accountants & Consultants...........................................................................16<br />
BANKING<br />
AstroBank Public Company Limited............................................................................. 5<br />
Bank of <strong>Cyprus</strong> PLC......................................................................................................... 6<br />
cdbbank (The <strong>Cyprus</strong> Development Bank Public Company Ltd)............................. 6<br />
RCB Bank Ltd.................................................................................................................15<br />
CONSULTING<br />
e-CNHC (E-C Natural Hydrocarbons Company Ltd)................................................ 9<br />
CORPORATE & FIDUCIARY SERVICES<br />
Aspen Trust Group........................................................................................................... 5<br />
IQ-EQ (<strong>Cyprus</strong>) Limited...............................................................................................12<br />
Oneworld Ltd..................................................................................................................14<br />
Raza Corporate Services Ltd.........................................................................................15<br />
Trident Trust Company (<strong>Cyprus</strong>) Ltd.........................................................................17<br />
Vistra (<strong>Cyprus</strong>) Limited................................................................................................18<br />
ECONOMIC ANALYSIS<br />
Sapienta Economics.......................................................................................................15<br />
ENERGY<br />
<strong>Cyprus</strong> Hydrocarbons Company (CHC)...................................................................... 8<br />
Natural Gas Public Company (DEFA).........................................................................13<br />
2
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
EXECUTIVE EDUCATION<br />
European Institute of Management and Finance (EIMF).........................................10<br />
FINANCIAL ADVISORY<br />
MAP S.Platis Group.......................................................................................................13<br />
FUND & ASSET MANAGEMENT<br />
GMM Group...................................................................................................................10<br />
Leon MFO Investments Ltd..........................................................................................13<br />
Oneworld Plus Management........................................................................................14<br />
Wealth Fund Services Ltd..............................................................................................18<br />
INSURANCE<br />
Hellas Direct....................................................................................................................11<br />
Royal Crown Insurance Co Ltd....................................................................................15<br />
INVESTMENT PROMOTION AGENCY<br />
Invest <strong>Cyprus</strong>..................................................................................................................12<br />
INVESTMENT SERVICES<br />
EFG <strong>Cyprus</strong> Limited......................................................................................................10<br />
One Plus Capital Ltd......................................................................................................14<br />
Windsor Brokers Ltd......................................................................................................18<br />
LAW FIRMS<br />
A Karitzis & Associates LLC........................................................................................... 5<br />
A.G. Paphitis & Co LLC.................................................................................................. 5<br />
Elias Neocleous & Co LLC............................................................................................10<br />
L Papaphilippou & Co LLC...........................................................................................12<br />
Michael Chambers & Co. LLC......................................................................................13<br />
Patrikios Pavlou & Associates LLC..............................................................................14<br />
Stelios Americanos & Co LLC......................................................................................16<br />
NON-PROFIT ORGANISATION<br />
<strong>Cyprus</strong> Seeds..................................................................................................................... 8<br />
3
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
PROFESSIONAL BODIES & INDUSTRY ASSOCIATIONS<br />
Association of <strong>Cyprus</strong> Banks.......................................................................................... 5<br />
<strong>Cyprus</strong> Cannabis Association (CYCA)......................................................................... 7<br />
<strong>Cyprus</strong> Chamber of Commerce and Industry.............................................................. 7<br />
<strong>Cyprus</strong> Fiduciary Association......................................................................................... 7<br />
<strong>Cyprus</strong> Healthcare Tourism (CHT)............................................................................... 7<br />
<strong>Cyprus</strong> Hotel Association................................................................................................ 7<br />
<strong>Cyprus</strong> International Businesses Association (CIBA)................................................. 8<br />
<strong>Cyprus</strong> Investment Funds Association (CIFA)............................................................ 8<br />
<strong>Cyprus</strong> Shipping Chamber.............................................................................................. 8<br />
<strong>Cyprus</strong> Union of Shipowners.......................................................................................... 9<br />
Insurance Association of <strong>Cyprus</strong>..................................................................................11<br />
Society of Trust and Estate Practitioners (STEP) ......................................................16<br />
TechIsland.......................................................................................................................17<br />
The <strong>Cyprus</strong> Employers & Industrialists Federation (OEB)......................................17<br />
The <strong>Cyprus</strong> Tech Association.......................................................................................17<br />
The Institute of Certified Public Accountants of <strong>Cyprus</strong> (ICPAC)..........................17<br />
REAL ESTATE & PROPERTY<br />
Cybarco Development Ltd.............................................................................................. 6<br />
Trilogy Limassol Seafront..............................................................................................18<br />
RECRUITMENT<br />
CareerFinders Recruitment Services Limited.............................................................. 6<br />
SOFTWARE & IT SERVICES<br />
NETinfo Plc.....................................................................................................................13<br />
TELECOMS & INTERNET<br />
Cyta.................................................................................................................................... 9<br />
Cytaglobal.......................................................................................................................... 9<br />
TRANSPORT & LOGISTICS<br />
Hermes Airports.............................................................................................................11<br />
Skylink Services Ltd.......................................................................................................16<br />
Swissport (<strong>Cyprus</strong>) Limited..........................................................................................16<br />
WEB DEVELOPMENT<br />
Ideaseven Digital Solutions...........................................................................................11<br />
4
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
ANTONIS KARITZIS<br />
MANAGING DIRECTOR<br />
A. KARITZIS & ASSOCIATES L.L.C<br />
(“AK”) is a full-service, innovative and forward-thinking <strong>Cyprus</strong> Law Firm<br />
headquartered in Limassol, <strong>Cyprus</strong>, with offices also in Athens, Greece. We<br />
offer all major practice area disciplines and boasts a diverse portfolio of clients<br />
ranging from local to global businesses and corporations and to non-profit<br />
organisations, to SMEs, large groups of companies and to private individuals<br />
of all levels of wealth. We pride ourselves in being committed to achieving the<br />
most desirable outcome for our clients in a cost-effective, time-efficient and<br />
highly-qualitative manner, offering precise, effective and pragmatic advice/<br />
solutions at all times.<br />
228 Arch. Makarios III Avenue, Agios<br />
Pavlos Court, Block B, 4th Floor<br />
3030 Limassol - <strong>Cyprus</strong><br />
P.O. Box: 58244, 3732 Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 028 114<br />
Contact: Antonis Karitzis – Managing Director<br />
E: antonis@karitzis.com<br />
W: www.karitzis.com<br />
ANGELOS G. PAPHITIS<br />
MANAGING PARTNER<br />
A.G.PAPHITIS & CO. LLC<br />
AGP & Co is a highly reputable, leading, dynamic and award winning Law Firm.<br />
Our reputation for excellence is recognized worldwide. Based in <strong>Cyprus</strong> with<br />
strong international presence, we serve our clients as a team, with a common<br />
focus on innovation, efficiency and agility. We provide full service Legal,<br />
Corporate, FS Advisory & Regulatory Compliance/AML, Tax, Immigration and<br />
Real Estate services. AGP & Co consists of the following main departments:<br />
Dispute Resolution; Corporate/Commercial; FS Advisory & Regulatory<br />
Compliance; Real Estate & Immigration; Tax-Accounting-Audit. Delivering<br />
excellent client service that benefits from long and lasting relationships, we<br />
are dedicated to providing our clients with superior results.<br />
“AGP Chambers”, 84 Spyrou Kyprianou Avenue,<br />
4004 Limassol - <strong>Cyprus</strong><br />
Postal Address: P.O.Box 58419,<br />
3734 Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 731 000<br />
Contact: Angelos G. Paphitis - Managing Partner<br />
E: angelos.paphitis@agplaw.com<br />
W: www.agplaw.com<br />
MARINA ZEVEDEOU<br />
CO-FOUNDER AND CEO<br />
ASPEN TRUST GROUP<br />
The Aspen Trust Group is a leading corporate service and financial planning<br />
provider; established in 1998 and licensed by ICPAC, our Group provides<br />
International Structuring and Tax Management solutions to Corporates<br />
and High Net Worth Individuals. Specific services include entity setup and<br />
management, legal and administration support, banking and tax compliance,<br />
financial management and restructuring, re-domiciliation, patent registration,<br />
residency and citizenship, cross- border mergers, family office services and<br />
headquartering. We build long term, trusted relationships with clients and<br />
associates, aiming to add value to their businesses and be part of their success<br />
stories. Our team consists of qualified accountants, lawyers and MBA-holders<br />
who undergo rigorous training to provide tailor-made solutions.<br />
77 Limassol Avenue<br />
Elia House, Nicosia 2121 - <strong>Cyprus</strong><br />
T: (+357) 22 418 730<br />
Contact: Marina Zevedeou -<br />
Co-founder and CEO<br />
E: marina.zevedeou@aspentrust.com<br />
W: www.aspentrust.com<br />
DR. MICHAEL KAMMAS<br />
DIRECTOR GENERAL<br />
ASSOCIATION OF CYPRUS BANKS<br />
Through its representation of ten member banks that hold more than 90% market<br />
share, the Association of <strong>Cyprus</strong> Banks (ACB) is the voice of the local banking<br />
system. Its primary aim is to promote best practices for the interest of the banking<br />
sector and the local economy. The ACB is a non-profit organization through which<br />
common positions are formulated and promoted on banking and financial issues<br />
when local legislative and governmental policies are determined. Through its<br />
more than 50 years of operations, the ACB has gained the reputation of a prudent,<br />
reliable and consistent partner for various policy makers, organizations, media,<br />
institutions and the local society.<br />
15 Demetriou Karatasou Str, Office 401,<br />
P.O. Box 16113, 2086 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 664 293<br />
Contact: Dr. Michael Kammas<br />
- Director General<br />
E: info@acb.com.cy<br />
W: www.acb.com.cy<br />
ARISTIDIS VOURAKIS<br />
CHIEF EXECUTIVE OFFICER<br />
ASTROBANK PUBLIC COMPANY LIMITED<br />
AstroBank is a <strong>Cyprus</strong> licensed Banking Institution established in 2008 and<br />
operating under the supervision of the Central Bank of <strong>Cyprus</strong>. AstroBank<br />
maintains a network of 14 branches and business units across <strong>Cyprus</strong> and<br />
is well-established in the local market, offering a comprehensive package of<br />
innovative and technologically advanced products and services tailored to the<br />
needs of its local and international clientele. AstroBank’s operations are based<br />
on four pillars: Retail, Corporate/SME, Private and International Business<br />
Banking. Aiming to enhance competitiveness and contribute to the country’s<br />
business environment, AstroBank invests in technology and innovation,<br />
constantly upgrading its services, promoting new products, exploring new<br />
business opportunities and cultivating a culture of cooperation and mutual<br />
respect with its clients.<br />
1 Spyrou Kyprianou Ave., 1065 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 575 555<br />
E: info@astrobank.com<br />
W: www.astrobank.com<br />
5
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
MARIOS A. KLITOU<br />
CHIEF EXECUTIVE OFFICER<br />
BAKER TILLY SOUTH EAST EUROPE<br />
Baker Tilly South East Europe is a full-service accounting and advisory firm,<br />
that offers industry specialised services in assurance, tax and advisory. Every<br />
day, more than 500 professionals located in 16 offices throughout South East<br />
Europe (<strong>Cyprus</strong>, Greece, Romania, Bulgaria and Moldova) share their expertise<br />
to accelerate your business growth, by operating under a unified structure,<br />
directed by a single, central management team of 44 directors. At Baker Tilly,<br />
we are ready now, for tomorrow’s challenges. We believe in the power of great<br />
relationships, by leading and listening to great conversations. Baker Tilly South<br />
East Europe is an independent member of Baker Tilly International, one of the<br />
world’s leading networks, uniting independent companies to provide top-quality<br />
professional services in both international and regional markets.<br />
Corner C Hatzopoulou & 30<br />
Griva Digheni Avenue,<br />
1066 Nicosia, <strong>Cyprus</strong> P.O.Box<br />
27783, 2433 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 458 500<br />
Contact: Marios A. Klitou -<br />
Chief Executive Officer<br />
E: info@bakertilly.com.cy<br />
W: www.bakertilly.com.cy<br />
PANICOS NICOLAOU<br />
CHIEF EXECUTIVE OFFICER<br />
BANK OF CYPRUS PLC<br />
Established in 1899, Bank of <strong>Cyprus</strong> is currently the leading banking and financial<br />
services Group in <strong>Cyprus</strong>, operating 90 branches in <strong>Cyprus</strong> and representative<br />
offices in Russia, Ukraine and China. The Group is the only corporation in the<br />
region fully complying with the UK Corporate Governance Code, the <strong>Cyprus</strong><br />
Stock Exchange Code, and the Central Bank of <strong>Cyprus</strong> Directive on governance<br />
and management arrangements in credit institutions. Since early 2014, the<br />
Bank has engaged in a very demanding and rigorous anti financial crime<br />
remediation programme which has successfully been implemented by the end<br />
of 2015. The Bank is listed on the London Stock Exchange, which has the most<br />
demanding and strict corporate governance codes internationally.<br />
51 Stassinou, 2002 Strovolos, Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 128 000<br />
Contact: Emilios Tannousis -<br />
Manager Wealth Management<br />
E: info@bankofcyprus.com<br />
W: www.bankofcyprus.com<br />
SOPHIE ARISTODEMOU<br />
CO-FOUNDER<br />
CAREERFINDERS RECRUITMENT SERVICES LIMITED<br />
CareerFinders Recruitment Services Limited is one of <strong>Cyprus</strong>’ most wellrespected<br />
and established providers of tailor-made recruitment solutions to<br />
many of the largest and most well-known local and international companies<br />
operating across the Island. With offices in both Nicosia and Limassol, our<br />
highly experienced team of recruitment professionals have the knowledge and<br />
expertise to ensure that our clients receive the most suitable and well-qualified<br />
candidates to suit their recruitment needs. The industry sectors we service<br />
include Accounting/Audit, Legal, Corporate/Fiduciary, Information Technology,<br />
Shipping, Oil & Gas, Banking/Finance and many more. If you are a company<br />
seeking to recruit the very best talent in <strong>Cyprus</strong>, please contact us today.<br />
Head Office: 6th Floor, Athlos Building,<br />
28 Nikis Avenue, Nicosia 1086 - <strong>Cyprus</strong><br />
T: (+357) 22 002 285<br />
Contact: Sophie Aristodemou, Director<br />
E: jobs@careerfinders.com.cy<br />
W: www.careerfinders.com.cy<br />
LOUCAS MARANGOS<br />
CEO<br />
CDBBANK (The <strong>Cyprus</strong> Development Bank Public Company Ltd)<br />
Founded in 1963, cdbbank (<strong>Cyprus</strong> Development Bank) is today one of the<br />
country’s leading niche financial institutions dedicated to satisfying the needs of<br />
domestic and international clients. cdbbank offers a wide range of specialised<br />
financial services and products, designed to accommodate the sophisticated<br />
requirements of its clientele which consists of corporate and institutional<br />
clients and high net worth individuals. The Bank’s vision is to be the reference<br />
Bank for businesspeople. Relying on its long-term experience and high level of<br />
expertise, cdbbank aspires to establish long-term relationships of trust with its<br />
clients, always delivering excellence and value.<br />
50 Arch. Makarios III Ave., 1065 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 846 500<br />
Contact: Liza Philippou - Head, Network<br />
Business and Communication<br />
E: info@cdb.com.cy<br />
W: www.cdb.com.cy<br />
MICHALIS<br />
HADJIPANAYIOTOU<br />
CEO<br />
CYBARCO DEVELOPMENT LTD<br />
Cybarco is the leading luxury property developer in <strong>Cyprus</strong>. Part of the<br />
prestigious Lanitis Group, Cybarco is behind many of the island’s landmark<br />
projects, including world-class Aphrodite Hills Golf Resort, Akamas Bay Villas,<br />
Sea Gallery Villas, The Oval, Limassol Marina – the first residential marina<br />
project in the whole of <strong>Cyprus</strong> – and Trilogy Limassol Seafront. Cybarco is also<br />
responsible for the exclusive sales of the luxury properties at Limassol Greens.<br />
With over 70 years’ experience at the top of its industry, Cybarco has earned its<br />
reputation for outstanding quality and dedicated customer care by consistently<br />
delivering projects to the highest standards.<br />
10 Tefkrou Anthia Street,<br />
Dali Industrial Zone, 2540 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 741 300<br />
Contact: Michalis Hadjipanayiotou - CEO<br />
E: info@cybarco.com<br />
W: www.cybarco.com<br />
6
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
ANDRIA ANDREOU<br />
PRESIDENT<br />
CYPRUS CANNABIS ASSOCIATION (CYCA)<br />
CYCA was formed in October 2019 under the auspices of <strong>Cyprus</strong> Chamber of<br />
Commerce & Industry. We are leading the collective of individuals and businesses<br />
that will build the legal Cannabis Eco-system in <strong>Cyprus</strong>, and advancing the<br />
interests of a responsible, compliant, transparent and high-quality industry. As<br />
global recognition of the benefits of legal Cannabis increases with governments<br />
around the world steadily moving to full legalization, there is a burgeoning<br />
need for high-quality products with known components; cultivated at large<br />
scale for consistent, reliable supply to users. <strong>Cyprus</strong> is primely positioned<br />
as an attractive center of excellence for production; research; genetics, and<br />
intellectual property from which the legal Cannabis industry can flourish.<br />
38 Grivas Dhigenis Ave. & 3 Deligiogis<br />
1066 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 99 672 366<br />
Contact: Andria Andreou - President<br />
E: a.andreou@cy-ca.org<br />
W: www.cy-ca.org<br />
CHRISTODOULOS E.<br />
ANGASTINIOTIS<br />
PRESIDENT<br />
CYPRUS CHAMBER OF COMMERCE AND INDUSTRY<br />
The <strong>Cyprus</strong> Chamber of Commerce and Industry (CCCI) membership exceeds<br />
10.000 enterprises representing over 95% of the local business community.<br />
152 Professional Associations are affiliated to the CCCI including 41 Bilateral<br />
Associations. Its wide range of services include advisory, provision of business<br />
information, foreign trade exhibitions, trade missions & business fora abroad,<br />
business training courses & seminars, advice on European Union issues,<br />
labour relations matters, issue of Certificates of Origin and ATA-CARNETS and<br />
participation in EU programmes. CCCI is a full member of 12 International<br />
organizations including Eurochambres, the International Chamber of Commerce,<br />
SME United, Eurocommerce, GS1 and many other international organisations.<br />
Follow us on twitter @ccci_cyprus.<br />
38, Grivas Digenis Ave. &<br />
3 Deligiorgis Str. Chamber Building - <strong>Cyprus</strong><br />
T: (+357) 22 660 066<br />
Contact: Marios Tsiakkis, Secretary General<br />
E: secgen@ccci.org.cy<br />
W: www.ccci.org.cy<br />
CHRISTOPHOROS<br />
KOUTOUROUSSIS<br />
PRESIDENT<br />
CYPRUS FIDUCIARY ASSOCIATION<br />
The <strong>Cyprus</strong> Fiduciary Association (CYFA), established in 2011, is the<br />
representative body of regulated Administrative Service Providers (ASP’s) in<br />
<strong>Cyprus</strong>. With a vision to assist in forming a solid international business sector<br />
in <strong>Cyprus</strong> operating on high professional standards, ethics and integrity, the<br />
Association aims to serve industry providers by promoting their interests,<br />
raising sector awareness, supporting their operations, contributing to new<br />
legislations and delivering valuable training to professionals. The Association’s<br />
commitment to its purpose has established it among the most reputable and<br />
recognised organisations within the country, before public and regulatory<br />
authorities, other associations, as well as the business community in <strong>Cyprus</strong><br />
and overseas.<br />
1, Menandrou Street, Frosia House,<br />
4th floor, Office 401, 1066, Nicosia - <strong>Cyprus</strong><br />
T: +357 22 256 263<br />
E: info@cyfa.org.cy<br />
W: www.cyfa.org.cy<br />
DR NITSA KILIARI<br />
PRESIDENT<br />
CYPRUS HEALTHCARE TOURISM (CHT)<br />
The <strong>Cyprus</strong> Healthcare Tourism (CHT) is a non-profit organization that was<br />
founded in November 2006 after an initiative taken by the <strong>Cyprus</strong> Chamber of<br />
Commerce and Industry (CCCI) aiming to develop and promote <strong>Cyprus</strong> as a high<br />
quality Health Tourism destination. The CHΤ currently has more than 80 members<br />
who are actively involved in the <strong>Cyprus</strong> Health Tourism Industry. These vary from<br />
state-of-the-art hospitals and clinics to specialized travel agencies, wellness<br />
and rehabilitation centres as well as consulting firms. Most of the largest and<br />
best equipped hospitals are members of the CHΤ and they are all licensed by the<br />
<strong>Cyprus</strong> Government and comply with EU regulations. Some of them have moved a<br />
step ahead towards gaining international accreditations.<br />
38 Grivas Dighenis & 3 Deligiorgis<br />
Street, Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 889 744<br />
Contact: Polis Peratikos - Executive Secretary<br />
E: cyprushealth@ccci.org.cy<br />
W: www.cyhealthservices.com<br />
HARIS LOIZIDES<br />
PRESIDENT<br />
CYPRUS HOTEL ASSOCIATION<br />
The <strong>Cyprus</strong> Hotel Association is the Hoteliers National Trade Union. The history of<br />
its foundation goes back to the beginning of the 1930s. Today the vast majority of<br />
all hotel establishments and other licensed tourist accommodation units, all over<br />
<strong>Cyprus</strong>, are members of the <strong>Cyprus</strong> Hotel Association. The most important aims<br />
of the Association are as follows: The protection and promotion of the interests<br />
of the hoteliers as employers and as professionals, as well as of the interests<br />
of <strong>Cyprus</strong> in general; The promotion and upgrading of the <strong>Cyprus</strong> tourism<br />
development; The upgrading and development of the hotel establishments<br />
in <strong>Cyprus</strong> and the improvement of the professional level of the hoteliers; The<br />
solidarity between its members.<br />
Andreas Araouzos Str., No 12,<br />
Hesperides Building, 1076 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 452 820<br />
Contact: Philokypros Roussounides<br />
- Director General<br />
E: cha@cyprushotelassociation.org<br />
W: www.cyprushotelassociation.org<br />
7
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
DEMETRIS C. FESSAS<br />
ACTING DIRECTOR GENERAL<br />
CYPRUS HYDROCARBONS COMPANY (CHC)<br />
CHC is the National Oil and Gas Company of <strong>Cyprus</strong>. As a state-owned company,<br />
CHC undertakes the commercial management of the ownership rights of the<br />
Republic of <strong>Cyprus</strong> that arise from the contracts with which it has entered into with<br />
oil and gas companies within its Exclusive Economic Zone. The vision of CHC is<br />
aligned with that of the Government of <strong>Cyprus</strong>, which is to ensure the sustainable<br />
development of hydrocarbon resources present in the Exclusive Economic Zone of<br />
the Republic of <strong>Cyprus</strong>, in order to maximize the benefits for Cypriot society and<br />
future generations.<br />
53 Strovolou Avenue, Victory Building,<br />
2018 Strovolos, Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 203 880<br />
Contact: Demetris Fessas –<br />
Acting Director General<br />
E: d.fessas@chc.com.cy<br />
W: www.chc.com.cy<br />
DOXIA NIKIA<br />
HADJIVASSILIOU<br />
PRESIDENT<br />
CYPRUS INTERNATIONAL BUSINESSES ASSOCIATION<br />
CIBA is a non-governmental, fully independent association, financed by membership<br />
fees only. Its activities and initiatives are organised and carried out by its General<br />
Secretary and Executive Committee of (max.) 12 persons. CIBA represents and<br />
safeguards the interests of the international businesses, their shareholders,<br />
managers and staff. The authorities recognize that CIBA represents the whole<br />
of the international business community in <strong>Cyprus</strong> and that it is instrumental in<br />
finding compromises between the required EU-driven legislation and international<br />
business requirements. CIBA annually awards the prestigious CIBA Excellence<br />
award to a member company that fulfils the specific criteria as set out by the<br />
Association.<br />
10 Pikionis Street, Highsight House<br />
3075 Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 583 400<br />
Contact: Andreas Pishias - General Secretary<br />
E: ciba@ciba-cy.org<br />
W: www.ciba-cy.org<br />
ANDREAS YIASEMIDES<br />
PRESIDENT<br />
CYPRUS INVESTMENT FUNDS ASSOCIATION (CIFA)<br />
CIFA is the Association of professionals, businesses, and organizations<br />
involved in the Investment Funds and Asset Management <strong>Sector</strong> in <strong>Cyprus</strong>.<br />
CIFA has more than 370 members, legal and physical. The Mission of CIFA is<br />
to: Help its members capitalize on industry trends; Shape regulation; Enhance<br />
professionalism, integrity, and quality and Promote the <strong>Cyprus</strong> Investment Fund<br />
Industry. The Board is comprised of highly reputable industry professionals<br />
experienced in all aspects of the industry. CIFA is a full member of the European<br />
Funds and Asset Management Association and the International Investment<br />
Funds Association. The fund industry in <strong>Cyprus</strong> has been on a continuous<br />
increase, with Assets under Management reaching almost €10 billion.<br />
Severis Building, 9 Makarios III Ave.,<br />
4th Floor, Lefkosia 1065 - <strong>Cyprus</strong><br />
T: (+357) 22 441 133<br />
Contact: Maria Panayiotou - Board Secretary<br />
E: info@cifacyprus.org<br />
W: www.cifacyprus.org<br />
MARIA MARKIDOU<br />
GEORGIADOU<br />
MANAGING DIRECTOR<br />
CYPRUS SEEDS<br />
<strong>Cyprus</strong> Seeds is a non-profit organization with the mission to support the<br />
commercialization of innovative academic research taking place in Cypriot<br />
universities and research institutions. To achieve its objectives, <strong>Cyprus</strong> Seeds<br />
offers a very competitive 12M program to a small number of research teams,<br />
from any area/field, whose projects have strong IP value and market potential.<br />
In addition to grants, it offers mentoring, business skills training as well as<br />
networking with the business community and possible investors. <strong>Cyprus</strong> Seeds<br />
is largely funded through the generosity of Foundations, corporations and<br />
individuals in <strong>Cyprus</strong> and abroad.<br />
Antinou 18, Strovolos, Nicosia, 2034 - <strong>Cyprus</strong><br />
T: (+357) 22 364 522<br />
Contact: Maria Markidou Georgiadou<br />
- Managing Director<br />
E: maria@cyprusseeds.com<br />
W: www.cyprusseeds.com<br />
THOMAS A. KAZAKOS<br />
DIRECTOR GENERAL<br />
CYPRUS SHIPPING CHAMBER<br />
The <strong>Cyprus</strong> Shipping Chamber is the trade association of the Shipping Industry<br />
in <strong>Cyprus</strong>. The main purpose of the Chamber is to promote the interests of<br />
<strong>Cyprus</strong> Shipping and to further the reputation of the <strong>Cyprus</strong> flag. The Chamber<br />
also acts as a lobbying group for the promotion and safeguard of the legitimate<br />
interests of its Member-companies, at national and international level. On<br />
the local front, the Chamber co-operates very closely with the Government<br />
in all shipping related matters. Moreover, the Chamber operates as a roving<br />
ambassador of <strong>Cyprus</strong> Shipping through its membership and active participation<br />
at the International Chamber of Shipping (ICS) and the European Community<br />
Shipowners’ Associations (ECSA).<br />
City Chambers, 6 Regas Fereos Str.<br />
P.O.Box 56607, 3309, Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 360 717<br />
Contact: Thomas A. Kazakos – Director General<br />
E: csc@csc-cy.org<br />
W: www.csc-cy.org<br />
8
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
MICHAEL FILIPPOU<br />
CEO<br />
CYPRUS UNION OF SHIPOWNERS (CUS)<br />
<strong>Cyprus</strong> Union of Shipowners, as the major representative Organization of the<br />
<strong>Cyprus</strong> Flag vessels, is committed to the firm growth of our National Registry<br />
and the establishment of Limassol as a world-class Maritime Centre. The<br />
cooperation between our Union, the Shipping Deputy Ministry and the Ministry of<br />
Finance resulted to an exceptional Framework that induced prominent Shipping<br />
Companies, P&I Clubs and other Shipping related Service Providers to establish<br />
management offices in <strong>Cyprus</strong>. Moreover, the solidification of the global reach<br />
of our Union and its institutional status has curved our participation in IMO<br />
Committees, as Government Consultants, both mandatory and effective.<br />
17, Gordonos Str., Suite 301,<br />
3070 Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 818 161<br />
Contact: Katerina Michael - PR Manager<br />
E: cus@cus.com.cy<br />
W: www.cus.com.cy<br />
ANDREAS NEOCLEOUS<br />
CEO<br />
CYTA<br />
Cyta, is the leading provider of integrated electronic communications in <strong>Cyprus</strong>.<br />
Making the most of its technologically advanced networks, it offers a wide<br />
range of services and solutions to meet the ever-increasing demands of its<br />
residential and business customers for voice, data and content applications.<br />
With a pivotal role in the digital transformation of our country, Cyta is deploying<br />
an island-wide, fiber-optic network, while it progressively upgrades its mobile<br />
network technology. It advances and maintains subsea and satellite networks<br />
for international connections of strategic importance that have established our<br />
country as a regional telecommunications and connectivity hub in the Eastern<br />
Mediterranean.<br />
Telecommunications Street,<br />
P.O.Box 24929, 1396 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 701 000<br />
E: cytapressoffice@cyta.com.cy<br />
W: www.cyta.com.cy<br />
COSTAS PSILLIDES<br />
MANAGER - INTERNATIONAL<br />
WHOLESALE MARKET<br />
CYTAGLOBAL<br />
Cyta, the primary telecommunications provider in <strong>Cyprus</strong>, covers the whole<br />
spectrum of electronic communications ranging from fixed and mobile voice and<br />
data communications, internet, IPTV and broadband services. Taking advantage<br />
of the island’s strategic geographical position, Cytaglobal, a strategic business<br />
unit of Cyta, has developed an extensive subsea fibre optic cable network,<br />
which connects <strong>Cyprus</strong> with its neighbouring countries and thereafter with<br />
the rest of the world. Cytaglobal also operates an extensive satellite network<br />
with three teleport sites, providing connectivity with major satellite systems.<br />
Through its global network, Cytaglobal provides a wide range of international<br />
telecommunications products, services and total solutions, making <strong>Cyprus</strong> a<br />
major telecommunications hub in the Eastern Mediterranean and an excellent<br />
international electronic communications centre.<br />
Telecommunications Str,<br />
PO Box 24929, 1396 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 701 498<br />
Contact: Costas Psillides - Manager,<br />
International Wholesale Market<br />
E: global@cyta.com.cy<br />
W: www.cytaglobal.com<br />
PIERIS MARKOU<br />
CEO, DELOITTE CYPRUS<br />
DELOITTE CYPRUS<br />
Deloitte Limited is among the leading professional services firms in <strong>Cyprus</strong>,<br />
providing audit & assurance, consulting, financial advisory, risk advisory, tax<br />
and related services, as well as a complete range of services to international<br />
business, through over 750 people in Nicosia and Limassol. Deloitte Limited, is<br />
the sub-licensed affiliate for <strong>Cyprus</strong> of Deloitte NSE LLP. As part of the Deloitte<br />
global network, with approximately 330,000 people in over 150 countries and<br />
territories, Deloitte Limited has the advantage of global sharing of knowledge<br />
with local adaptation and personal approach, built on the solid foundations of<br />
over 60 years of successful operations on the island.<br />
24 Spyrou Kyprianou Avenue,<br />
CY 1075, Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 360 300<br />
Contact: Michelle Karaolides -<br />
Head of Marketing & Communications<br />
E: infonicosia@deloitte.com<br />
W: www.deloitte.com/cy<br />
E-CNHC – E-C NATURAL HYDROCARBONS COMPANY LTD<br />
The company provides advisory, project management and consultancy services<br />
in the oil & gas and energy sectors and aims to contribute to the successful<br />
development of these <strong>Sector</strong>s for the future of <strong>Cyprus</strong>. The CEO has over<br />
35-years international experience in promoting and developing oil & gas<br />
business and projects spanning Europe, Asia and Africa. We can assist our<br />
clients in developing their business in <strong>Cyprus</strong>, evaluating opportunities and<br />
providing in depth professional advice and support.<br />
CHARLES ELLINAS<br />
CEO<br />
11 Tyrtaiou Street, 1087 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 97 705 060<br />
Contact: Dr Charles Ellinas - CEO<br />
E: Charles.ellinas@yahoo.com<br />
W: www.e-cnhc.com<br />
9
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
COSTAS STYLIANOU<br />
CHIEF EXECUTIVE OFFICER<br />
EFG CYPRUS LIMITED<br />
EFG <strong>Cyprus</strong> Limited is a <strong>Cyprus</strong> Investment Firm (“CIF”) regulated by the<br />
<strong>Cyprus</strong> Securities and Exchange Commission (CySEC) and is licensed to provide<br />
clients with portfolio management, investment advice and the reception and<br />
transmission of orders (CYSEC license number 393/20). EFG <strong>Cyprus</strong> Limited is<br />
a one hundred percent direct subsidiary of EFG Private Bank (UK) Limited and is<br />
registered in <strong>Cyprus</strong> under company number HE408062. EFG Private Bank Ltd<br />
is part of the EFG International group, a global private banking and investment<br />
services group headquartered in Zurich, offering private banking and asset<br />
management services in around 40 locations worldwide<br />
23 John Kennedy Avenue,<br />
Globe House, 1075 Nicosia - <strong>Cyprus</strong><br />
(+357) 22 025900<br />
Contact: Costas Stylianou -<br />
Chief Executive Officer<br />
E: enquiries@efgcy.com<br />
W: www.cy.efgl.com<br />
ELIAS NEOCLEOUS<br />
MANAGING PARTNER<br />
ELIAS NEOCLEOUS & CO LLC<br />
Award-winning Elias Neocleous & Co LLC is the largest law firm in <strong>Cyprus</strong><br />
and one of the top law firms in south east Europe. With more than 150 lawyers<br />
and other professionals based in offices in <strong>Cyprus</strong>, Brussels, Budapest, Kiev<br />
and Prague we offer a value-added service which is second to none. We are<br />
dedicated to diversity in recruitment and to retaining experienced specialists<br />
in every practice area. Combined with our investment in IT and knowledge<br />
management infrastructure, this means we are able to tackle the largest and<br />
most demanding national and cross-border assignments. Elias Neocleous and<br />
Co LLC is professional, responsive, innovative, and represents the legal practice<br />
of the future.<br />
Neocleous House, 195 Makarios Avenue,<br />
P O Box 50613, Limassol CY 3608 - <strong>Cyprus</strong><br />
T: (+357) 25 110 110<br />
Contact: Elias Neocleous - Managing Partner<br />
E: info@neo.law<br />
W: www.neo.law<br />
MARIOS SIATHAS<br />
CHIEF EXECUTIVE OFFICER<br />
EUROPEAN INSTITUTE OF MANAGEMENT AND FINANCE (EIMF)<br />
The EIMF is an accredited and licensed Education Group that offers learning<br />
and development opportunities, including Global Qualifications, across an array<br />
of areas. EIMF possesses a strong concentration within the areas of financial<br />
and professional services (regulation, compliance, AML, banking, funds),<br />
accounting, legal, management, as well as Information-Technology through<br />
its New Horizons Computer Learning Centers. Knowledge is delivered by<br />
established subject-matter experts, through classroom, Live Online, eLearning<br />
and customized learning solutions. With a presence in London, Brussels,<br />
Frankfurt, Belgrade, Copenhagen, Nicosia, Tel Aviv, Athens, Sofia, Dublin and<br />
Bucharest and over 5,000 students annually, 330+ programmes, 60+ instructors<br />
and 25 international Certifications, make the EIMF a leader in the field of<br />
vocational education in the wider region.<br />
25 Megaron Street, 2032 Strovolos<br />
Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 274 470<br />
Contact: Marios Siathas - Chief Executive Officer<br />
E: msiathas@eimf.eu<br />
W: www.eimf.eu<br />
RONALD A. ATTARD<br />
COUNTRY MANAGING PARTNER<br />
EY CYPRUS<br />
EY is a global leader in assurance, tax, strategy, transactions and consulting<br />
services with about 300,000 people in over 150 countries. It is the most globally<br />
integrated professional services organisation, working with businesses,<br />
entrepreneurs and governments around the world to solve their most pressing<br />
challenges. EY distils everything it does down to a single, unified purpose:<br />
building a better working world. For over 80 years, the <strong>Cyprus</strong> practice has been<br />
a trusted business advisor and auditor to a broad range of clients and is ideally<br />
placed to cater to the needs of our clients in a wider geographic span.<br />
6 Stasinou Avenue, 1060 Nicosia<br />
P.O.Box 21656, 1511 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 209 999<br />
E: info@cy.ey.com<br />
W: www.ey.com/cy<br />
ALEXIOS KARTALIS<br />
GENERAL MANAGER<br />
GMM GROUP<br />
GMM Fund Management is a group of companies comprising GMM Global<br />
Money Managers AIFM Ltd which is an AIF Manager Company License No.<br />
AIFM33/56/2013 and GMM Global Money Managers Ltd which is a Management<br />
Company holding UCITS Manager License No. 2/13. GMM GROUP is<br />
managing 19 UCITS and 32 AIFs with aggregate assets under management<br />
of approximately €230mil. GMM operates in the financial sector, setting up,<br />
running, and managing UCITS Funds as well as Alternative Investment Funds<br />
(AIF, RAIF) in line with the most recent EU directives, fully implemented by the<br />
Cypriot legislation.<br />
26B Agiion Omologiton Avenue<br />
Nicosia 1080 - <strong>Cyprus</strong><br />
T: (+357) 22 205 858<br />
Contact: Alexios Kartalis - General Manager<br />
E: info@global-mm.com<br />
W: www.global-mm.com<br />
10
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
YIANNOS ASHIOTIS<br />
LEADER, REGULATORY<br />
COMPLIANCE AND<br />
FUND SERVICES<br />
GRANT THORNTON CYPRUS<br />
As part of Grant Thornton’s network with member firms in more than 140<br />
countries and with more than 56.000 people, we have the scale to meet your<br />
changing needs, but with the insight and agility that helps you stay one step<br />
ahead. Our Regulatory Compliance and Fund Services Department was set-up<br />
to serve the growing Fund industry in <strong>Cyprus</strong> by providing a full suite of tailored<br />
solutions. We offer advice on optimal fund set-up and undertake all necessary<br />
licensing activities until the final approval by the regulator. We also support our<br />
clients by offering outsourced risk management as well as comprehensive Fund<br />
Administration and Transfer Agent services.<br />
41-49, Agiou Nicolaou Str., Nimeli Court,<br />
Block C, Engomi 2408<br />
P.O.Box 23907, 1687, Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 600 000<br />
Contact: Yiannos Ashiotis - Leader,<br />
Regulatory Compliance and Fund Services<br />
E: Yiannos.Ashiotis@cy.gt.com<br />
W: www.grantthornton.com.cy<br />
ALEXIS PANTAZIS<br />
CO-FOUNDER AND<br />
EXECUTIVE DIRECTOR<br />
HELLAS DIRECT<br />
Hellas Direct is a digital-first, full-stack insurance company, empowered<br />
by cutting-edge technology and the use of advanced analytics. The company<br />
is backed by a roster of leading investors, including the European Bank for<br />
Reconstruction and Development, the European Investment Bank, Portage<br />
Ventures and IFC (a member of the World Bank). Modelling itself on Amazon,<br />
Hellas Direct aims to disrupt the insurance value chain by adopting an extreme<br />
focus on operational excellence. Hellas Direct was recently listed by the<br />
Financial Times as one of Europe’s 1,000 Fastest Growing Companies.<br />
8, Dasoupoleos Street, 2015 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 277 499<br />
Contact: Elina Nomicou - Head<br />
of Digital Media & Content<br />
E: elina.nomicou@hellasdirect.gr<br />
W: www.hellasdirect.com.cy<br />
ELENI KALOYIROU<br />
CEO<br />
HERMES AIRPORTS<br />
Hermes Airports is an international consortium of nine shareholders,<br />
managing and operating Larnaka and Pafos airports since 2006 under a 25-<br />
year BOT Concession Agreement with the Republic of <strong>Cyprus</strong>. Hermes Airports<br />
significantly contributes to the country’s tourism growth, through both a<br />
targeted air service development strategy consisting of incentive schemes<br />
provision and joint marketing activities with airlines, as well as a productive<br />
collaboration with the Government and tourism stakeholders for the expansion<br />
of tourism related opportunities. Hermes Airports is committed to enhancing<br />
the overall passenger experience, with an emphasis on operational excellence<br />
and customer service.<br />
P.o Box 43027, 6650<br />
Larnaka International Airport - <strong>Cyprus</strong><br />
T: (+357) 24 742 164<br />
Contact: Maria Kouroupi - Senior Manager Aviation<br />
Development, Marketing & Communication<br />
E: maria.kouroupi@hermesairports.com<br />
W: www.hermesairports.com<br />
ALEX CONSTANTI<br />
MANAGING DIRECTOR<br />
IDEASEVEN DIGITAL SOLUTIONS<br />
Ideaseven are a dynamic, enthusiastic online digital agency with over 15 years<br />
of experience. We focus on providing global solutions in digital marketing, web<br />
& app development. At ideaseven, we understand that design and development<br />
requires continuous mutual communication with our clients. Together, we can<br />
provide a constantly productive and evolving project. We can help visualize<br />
even the craziest ideas, converting them into elegant, awesome experiences<br />
and catchy products. We have worked with a lot of prestigious brands and have<br />
delivered award winning projects. We are now a full stack, turnkey partner with<br />
specialists in all fields required for the development and creative process. We<br />
look forward to your call.<br />
Pentadactylou 2, office 104,<br />
6060, Larnaca - <strong>Cyprus</strong><br />
T: (+357) 24 823 832<br />
Contact: Alex Constanti – Managing Director<br />
E: info@ideaseven.com<br />
W: www.ideaseven.com<br />
EVANGELOS<br />
ANASTASIADES<br />
CHAIRMAN<br />
INSURANCE ASSOCIATION OF CYPRUS<br />
The Insurance Association of <strong>Cyprus</strong> is the accredited and representative<br />
body of the Cypriot insurance industry, with 29 member insurance companies<br />
operating in <strong>Cyprus</strong>, accounting for approximately 98% of total gross written<br />
premiums. As the leading and united voice of the <strong>Cyprus</strong> insurance market<br />
its mission is to promote the industry’s views and positions to policymakers<br />
and legislators. It is also particularly active with respect to work aiming at the<br />
modernization of the sector, the continuous improvement of the level and quality<br />
of service to the public, the enhancement of consumers’ trust and confidence in<br />
insurance products and their providers, and the strengthening of the institution<br />
of insurance.<br />
23, Zenon Sozos str., 1st floor<br />
1075 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 452 990<br />
Contact: Andreas Athanasiades<br />
– Director General<br />
E: info@iac.org.cy<br />
W: www.iac.org.cy<br />
11
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
YANNIS MATSIS<br />
CHAIRPERSON<br />
INVEST CYPRUS<br />
Invest <strong>Cyprus</strong> (<strong>Cyprus</strong> Investment Promotion Agency) is the investment<br />
authority of the Government of <strong>Cyprus</strong> dedicated to attract and facilitate foreign<br />
direct investment into the country. In close collaboration with all governmental<br />
authorities and public institutions, as well as the private sector, Invest <strong>Cyprus</strong><br />
is the country’s lead agent in establishing <strong>Cyprus</strong> as a world-class destination<br />
for international business activity and investments. Invest <strong>Cyprus</strong>’ mandate is to<br />
raise awareness of <strong>Cyprus</strong> as a destination for FDI across the globe, providing<br />
certainty around all aspects of operating a business in <strong>Cyprus</strong> and supporting<br />
potential investors in developing their business case for investment into the<br />
country.<br />
9 Makariou III Avenue,<br />
4th Floor, 1065 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 441 133<br />
E: info@investcyprus.org.cy<br />
W: www.investcyprus.org.cy<br />
CONSTANTINOS<br />
MEIVATZIS<br />
MANAGING DIRECTOR<br />
IQ EQ (CYPRUS) LIMITED<br />
A leading global investor services group, IQ-EQ is present in 23 jurisdictions<br />
employing over 3,400+ people across four continents with assets under<br />
administration (AUA) exceeding US$500 billion. Our experienced and wellqualified<br />
teams specialise in trust establishment and administration, company<br />
incorporation and management, accounting and financial reporting, transaction<br />
support services, fund administration services, escrow services and more.<br />
The combination of our professional service breadth, global reach and depth<br />
of experience has assisted us in attracting new clients from all over the world<br />
and allowed us to actively promote <strong>Cyprus</strong> through the quality of our services.<br />
20 Spyrou Kyprianou Avenue, Chapo Central,<br />
3rd floor, 1075 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 749 000<br />
Contact: Constantinos Meivatzis<br />
- Managing Director<br />
E: Constantinos.Meivatzis@iqeq.com<br />
W: iqeq.com<br />
DAVINIA JOANNIDOU<br />
DIRECTOR<br />
JOANNIDES + CO LTD<br />
Joannides + Co. Ltd is a leading firm of accountants and management consultants<br />
established in <strong>Cyprus</strong> for over 40 years providing audit and assurance, taxation,<br />
business support services and management consulting to international companies<br />
and private clients. The firm has offices in Nicosia, Limassol and Larnaca offering<br />
its services with the utmost integrity, independence and objectivity with the aim<br />
to add significant value to its clients’ business performance. Joannides + Co. Ltd<br />
is a member of AGN International Ltd, a worldwide association of independent<br />
accounting and consulting firms operating in 85 countries, is an approved training<br />
centre of the professional accounting institutes ICAEW and ACCA and in 2010<br />
was awarded the quality award certification from the Institute of Certified Public<br />
Accountants of <strong>Cyprus</strong>.<br />
13, Agiou Prokopiou Str. 2406<br />
Egkomi, Nicosia - <strong>Cyprus</strong><br />
P.O.Box 25411, Nicosia 1309 - <strong>Cyprus</strong><br />
T: (+357) 22 556 556<br />
Contact: Davinia Joannidou - Director<br />
E: cy@joannides.com.cy<br />
W: www.joannides.com.cy<br />
CHRISTOS V. VASILIOU<br />
MANAGING DIRECTOR<br />
KPMG<br />
KPMG is a global organisation of independent professional services firms<br />
providing Audit, Tax and Advisory services. KPMG operates in 146 countries<br />
and territories and has approximately 227.000 people working in member firms<br />
around the world. KPMG has been operating in <strong>Cyprus</strong> since 1948 and currently<br />
employs more than 850 professionals working from 6 offices across the island<br />
(Nicosia, Limassol, Larnaka, Paralimni, Pafos, Polis Chrysochous). By utilising<br />
the whole spectrum of KPMG International services and the deep knowledge<br />
in all major industries, KPMG provides its clients with solutions which address<br />
their unique characteristics. Clients look to KPMG for a consistent standard of<br />
service based on high-order professional capabilities, industry insight, local<br />
knowledge and expertise.<br />
14 Esperidon Street, 1087, Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 209 000<br />
Contact: Demetris S. Vakis - Board<br />
Member, Head of Sales and Markets<br />
E: demetris.vakis@kpmg.com.cy<br />
W: www.kpmg.com.cy<br />
LEANDROS<br />
PAPAPHILIPPOU<br />
MANAGING PARTNER<br />
L PAPAPHILIPPOU & CO LLC<br />
L Papaphilippou & Co LLC was founded in 1963. Through constant and consistent<br />
work, it is now one of the leading and most respectable law firms in <strong>Cyprus</strong>. The<br />
firm quickly established strong presence in the fields of corporate and shipping<br />
law, litigation, banking and finance, wealth management and immigration,<br />
thus achieving good cross-border reputation, which led to the development<br />
of a concrete international professional network and client base. Our list of<br />
clients includes regulatory bodies, local and international banking and financial<br />
institutions, insurance, shipping and listed companies, multinationals and high<br />
net worth individuals.<br />
17 Ifigenias Street, 2007 Strovolos,<br />
P.O.Box 28541, 2080 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 271 000<br />
Contact: Leandros Papaphilippou<br />
- Managing Partner<br />
E: info@papaphilippou.eu<br />
W: www.papaphilippou.eu<br />
12
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
ANDREY NARUTSKIY<br />
MANAGING DIRECTOR, CEO<br />
LEON MFO INVESTMENTS LTD<br />
Leon MFO Investments Ltd (the “Company”) is authorized by the CySEC as an<br />
alternative investment fund manager with license number AIFM 37/56/2013. At<br />
present, the Company manages three registered alternative investment funds<br />
(the “RAIF”) addressed to professional investors only. The total assets under the<br />
Company’s fund management exceed $670mln. The Company focuses on liquid<br />
investment strategies. The Company is in the process of launching two more<br />
RAIFs which will be addressed to both professional and well-informed investors:<br />
LEON Income Fund RAIF VCIC PLC and LEON Global Hedge Fund RAIF VCIC PLC.<br />
37, Theklas Lisioti, Gemini House,<br />
Office 301, CY-3030, Limasso - <strong>Cyprus</strong><br />
T: (+357) 25 268 120<br />
Contact: Andrey Narutskiy -<br />
Managing Director, CEO<br />
E: leonmfo@leonmfo.com<br />
W: www.leoninvestments.com.cy<br />
DEMETRIS TAXITARIS<br />
CHIEF EXECUTIVE OFFICER<br />
MAP S.PLATIS GROUP<br />
MAP S.Platis Group is a leading financial services consulting Group with<br />
clients that include regulators, banks, funds and fund managers, investment<br />
firms, brokers, fintech firms, insurance firms and payment and electronic<br />
money institutions. Our expert team, currently comprising over 400 highcalibre<br />
professionals, provides unique and tailored solutions in licensing,<br />
regulatory compliance, risk management, internal audit, human resources,<br />
regulatory technology, information technology, business resilience, information<br />
security including cybersecurity, governance, executive training and innovation<br />
consulting to financial and other firms in the UK, <strong>Cyprus</strong>, Hong Kong and the EU.<br />
Thanks to our vast regulatory compliance experience, continued interaction with<br />
regulatory authorities, unparalleled track record, global network of associates<br />
and wealth of resources, our team can support any client’s regulatory needs<br />
efficiently and effectively.<br />
74 Archiepiskopou Makariou C, 3rd Floor,<br />
Mesa Geitonia, 4003, Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 351 335<br />
Contact: Svetlana Lazarevic –<br />
Head of Business Development<br />
E: info@mapsplatis.com<br />
W: www.mapsplatis.com<br />
ANDREAS LAOS<br />
SENIOR ADVOCATE -<br />
LEGAL CONSULTANT<br />
MICHAEL CHAMBERS & CO. LLC<br />
Michael Chambers & Co. LLC is a full-service Law Firm with <strong>Cyprus</strong> and English<br />
Lawyers offering a wide spectrum of expertise in an impressive variety of legal<br />
disciplines. Our team of Lawyers offers clients a range of integrated global<br />
capabilities, comprising the world’s most active M&A, real estate, finance, litigation<br />
and corporate risk practices. Our law office is located at the heart of the commercial<br />
district of Limassol. The firm enjoys considerable success and has developed an<br />
enviable reputation by pursuing a simple goal – to give its clients unambiguous,<br />
concise and clear-cut legal advice.<br />
25 Voukourestiou Street, Neptune House,<br />
1st Floor, Suite 11 Limassol, <strong>Cyprus</strong>, CY – 3045<br />
T: (+357) 25 819 966<br />
Contact: Michael Chambers - Senior Partner<br />
E: info@chambers.law<br />
W: www.chambers.law<br />
MARIOS MENELAOU<br />
GENERAL MANAGER<br />
NATURAL GAS PUBLIC COMPANY (DEFA)<br />
DEFA has the exclusive right to import and supply natural gas to all consumers<br />
in <strong>Cyprus</strong>. DEFA will develop and manage the gas network infrastructure. It<br />
will construct gas transmission lines and support a virtual network, provide<br />
bunkering services for ships and also natural gas for transportation. DEFA also<br />
owns 70% of ETYFA (30% owned by EAC), a special purpose subsidiary company<br />
that will own the LNG Import Terminal (comprising an FSRU, Jetty, pipelines<br />
and onshore facilities). The Terminal’s EPCOM contract with the international<br />
consortium was signed in December 2019.<br />
13 Limassol Ave, Demetra Tower, 4th Floor,<br />
2112 Nicosia | P. O. Box 24954,<br />
1305 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 761 761<br />
Contact: Maria Theocharidou -<br />
Secretary/PA to the Executive Chairman<br />
E: info@defa.com.cy<br />
W: www.defa.com.cy<br />
VASSOS ARISTODEMOU<br />
CHAIRMAN & CEO<br />
NETINFO PLC<br />
NETinfo is a versatile and innovative technology company that has been enabling<br />
digital transformation strategies for banks and financial institutions since 2000.<br />
NETinfo’s flagship products, NETinfo Digital Banking Platform and NETinfo<br />
Mobile Financial Services (MFS), have successfully been part of the digital<br />
transformation process of banks and financial institutions, in more than 30<br />
countries worldwide. NETinfo focuses on retail, corporate and private banking.<br />
We support banks and financial institutions of all sizes across all geographies,<br />
helping them to harness the latest technologies, and we fully embrace the<br />
needs of today’s digital consumers. Industry analysts recognise NETinfo as one<br />
of the global leaders for omnichannel design and delivery.<br />
23 Aglantzias Ave., 2108 Nicosia<br />
P.O. Box 22658, 1523 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 753 636<br />
E: mail@netinfo.eu<br />
W: www.netinfo.eu<br />
13
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
SUSANA POYIADJIS<br />
MANAGING DIRECTOR<br />
NEXIA POYIADJIS<br />
Established in 1969, Nexia Poyiadjis is a prominent firm of accountants, auditors<br />
and advisors, based in Nicosia and Limassol, providing one of the highest<br />
standards of professional services to local and international clients. Nexia<br />
Poyiadjis is the exclusive <strong>Cyprus</strong> member firm of Nexia International, a leading<br />
global network of independent firms, providing clients with audit and assurance,<br />
taxation, advisory, financial outsourcing, turnaround restructuring and insolvency<br />
services. The firm operates in various industries but has a strong history and<br />
expertise in servicing the financial services industry – regulated funds, alternative<br />
investment fund managers, investment firms, e-money and payment institutions.<br />
Apart from the standard services Nexia Poyiadjis provides set up and licensing<br />
services, fund administration services, valuation, financial modeling, strategic<br />
reviews, internal audit, risk and compliance advisory services.<br />
Sophouli 2 Str., The Chanteclair House,<br />
8th floor, 1096 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 456 111<br />
Contact: Susana Poyiadjis - Managing Director<br />
E: susana.poyiadjis@nexia.com.cy<br />
W: www.nexia.com.cy<br />
KIKIS LAGOS<br />
MANAGING DIRECTOR<br />
ONE PLUS CAPITAL LTD<br />
One Plus Capital (OPC) is as a licensed boutique investment firm based in Nicosia.<br />
OPC is licensed by CySEC to offer the full spectrum of investment services. Its core<br />
services include portfolio management, investment advisory, global brokerage,<br />
corporate finance, custody and safekeeping. OPC is also a trading member of<br />
the Athens and <strong>Cyprus</strong> Stock Exchange (ASE, CSE). Over the past few years, OPC<br />
has weighed in on its expertise and years of presence in the industry to broaden<br />
the range of services offered. Specifically, OPC has been active in the field of<br />
fund management for a number of <strong>Cyprus</strong> licensed funds with multi-asset class<br />
strategies and compartments for both retail and professional investors.<br />
75 Prodromou Avenue,<br />
Oneworld Parkview House,<br />
2063 Strovolos, Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 873 760<br />
Contact: Kikis Lagos - Managing Director<br />
E: info@onepluscapital.net<br />
W: www.onepluscapital.net<br />
SAVVAS SHIATIS<br />
MANAGING DIRECTOR<br />
ONEWORLD LTD<br />
Oneworld Ltd is a leading advisory, corporate and business services firm in<br />
<strong>Cyprus</strong> and Dubai with associated offices in key global centres. We provide<br />
company incorporation, management, banking, redomiciliation services as<br />
well as setting up and administering private funds and trusts. We advise on<br />
international tax planning, family succession, incorporate offshore companies<br />
in zero and low tax jurisdictions and provide other boutique services including<br />
licensing of various operations and structures. We bring a depth of experience<br />
to our work and dealings with our clients, which range from dynamic young<br />
enterprises to global corporations and high net worth individuals, their families<br />
and consultants.<br />
75 Prodromou Avenue, Oneworld House,<br />
POBox 25207, Nicosia 1307 - <strong>Cyprus</strong><br />
T: (+357) 22 496 000<br />
Contact: Savvas Shiatis - Managing Director<br />
E: SShiatis@oneworldweb.net<br />
W: www.oneworldweb.net<br />
PAUL PAVLI<br />
MANAGING DIRECTOR<br />
ONEWORLD PLUS MANAGEMENT<br />
Oneworld Plus Management is a dedicated third party Alternative Investment<br />
Fund Manager (AIFM) providing AIFM services to fund initiators, promoters and<br />
fund managers of private equity, real estate, infrastructure, debt, fund of funds,<br />
transferable securities as well as other alternative asset classes. Our experience<br />
encompasses funds and assets in Ireland, Luxembourg, UK, <strong>Cyprus</strong>, Greece, Middle<br />
East, Asia, Cayman Islands and various other jurisdictions. We offer full fund setup<br />
services or we can provide services to existing funds. Oneworld Plus Management<br />
is authorised and regulated by the <strong>Cyprus</strong> Securities and Exchange Commission<br />
AIFM35/56/2013.<br />
E U L I C E N S E D A I F M<br />
Oneworld House<br />
75 Prodromou Avenue, Level 2,<br />
Nicosia 1307 - <strong>Cyprus</strong><br />
T: (+357) 22 507 723<br />
Contact: Paul Pavli - Managing Director<br />
E: ppavli@oneworldaifm.com<br />
W: www.oneworldaifm.com<br />
STAVROS PAVLOU<br />
SENIOR AND MANAGING<br />
PARTNER<br />
PATRIKIOS PAVLOU & ASSOCIATES LLC<br />
Patrikios Pavlou & Associates LLC is a leading law firm in <strong>Cyprus</strong>. With<br />
nearly 60 years of experience in the local and international legal market, the<br />
Firm has developed distinguished expertise in dispute resolution and ADR<br />
and a renowned legal consulting department. The legal teams are constantly<br />
involved in some of the largest cross-border banking, financial and corporate<br />
transactions and handle complex litigation, arbitration and mediation matters.<br />
In close cooperation with the associated Pagecorp Group, the Firm provides its<br />
clients with a comprehensive range of corporate and other related services. The<br />
Firm is highly recommended by prestigious legal directories worldwide for its<br />
distinctive legal services.<br />
Patrician Chambers, 332 Agiou Andreou Street,<br />
3035 Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 871 599<br />
Contact: Stavros Pavlou - Senior<br />
and Managing Partner<br />
E: spavlou@pavlaw.com<br />
W: www.pavlaw.com<br />
14
<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
EVGENIOS C EVGENIOU<br />
CEO, PwC CYPRUS<br />
PwC CYPRUS<br />
We support you to create the value you are looking for by providing specialised<br />
solutions based on quality. Together we build relationships based on trust and<br />
we say things as they are, to assist you to deal with issues that tomorrow will<br />
prove important. We adapt the expertise of more than 1,000 professionals in<br />
<strong>Cyprus</strong> and the power of our global network of more than 284,000 people in 155<br />
countries to your specific needs, helping you make the difference. In a demanding<br />
and challenging business environment, our diverse teams of professionals are<br />
sharing deep knowledge and experience. We provide a broad range of services to<br />
meet your increasingly complex needs.<br />
PricewaterhouseCoopers Ltd<br />
PwC Central, 43 Demostheni Severi Avenue,<br />
CY-1080 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 555 000<br />
Contact: Konstantina Logotheti -<br />
Director, Marketing & Communications<br />
E: konstantina.logotheti@pwc.com<br />
W: www.pwc.com.cy<br />
STELLA KAMMITSI<br />
MANAGING DIRECTOR<br />
RAZA CORPORATE SERVICES LTD<br />
Raza is regulated by the <strong>Cyprus</strong> Bar Association as an Administrative Service<br />
Provider and operates under the management, control and supervision of Stella<br />
Kammitsi, a licensed lawyer with over 30 years of experience. It offers innovative<br />
fiduciary, corporate, trustee and advisory services to corporates, partnerships,<br />
high net worth individuals and families. Being a boutique firm gives it a high<br />
degree of flexibility when navigating challenges, and Raza is proud to state that<br />
throughout the years it has earned the loyalty and trust of its clients by providing<br />
them with personal, reliable and timely services whilst demonstrating attention<br />
to their specific requirements.<br />
5 Anastasios Leventis Street,<br />
Leventis Gallery Tower, 8th Floor,<br />
1097 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 777 787<br />
Contact: Stella Kammitsi - Managing Director<br />
E: skammitsi@raza.com.cy<br />
W: www.raza.com.cy<br />
DR. KIRILL ZIMARIN<br />
CHIEF EXECUTIVE OFFICER<br />
RCB BANK LTD<br />
RCB Bank Ltd was founded in 1995 and is now one of the largest financial<br />
institutions in <strong>Cyprus</strong> and a significant EU bank. The Bank offers corporate,<br />
investment and retail products and services to clients from around 50 countries.<br />
RCB is a private financial institution. It is headquartered in Limassol, with<br />
branches in Nicosia, Limassol, Larnaca, Pafos, Luxembourg and representative<br />
offices in Moscow and London. With 25 years of history and expertise in<br />
banking, RCB has earned a reputation as a financially stable and reliable bank.<br />
RCB offers a wide range of everyday banking products and services as well<br />
as tailored investment solutions and aspires to establish long-term strategic<br />
partnership with its clients.<br />
2, Amathountos Street, P.O. Box 56868,<br />
3310 Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 837 300<br />
E: rcb@rcbcy.com<br />
W: www.rcbcy.com<br />
PHILIOS ZACHARIADES<br />
GENERAL MANAGER<br />
ROYAL CROWN INSURANCE CO LTD<br />
RCI is a non-life insurance company that has been active in the <strong>Cyprus</strong><br />
market for more than forty years. Initially RCI was the local agent for Royal &<br />
SunAlliance, of which it is still part of the global network, and since 1999, RCI<br />
has been licensed as a purely Cypriot private insurance company. RCI’s mission<br />
has always been to operate on the principles of absolute integrity, transparency<br />
and to provide the best possible services to its clients. RCI’s practices and<br />
procedures have been awarded the quality certification ISO9001-2015 by Lloyd’s<br />
Register. Insurance, for RCI, is not a product to be sold, but a service provided<br />
and a commitment created.<br />
16-20 Mnasiadou Street<br />
P.O.Box: 24690 1302 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 885 555<br />
Contact: Anthie Zachariadou<br />
– Executive Director<br />
E: info@royalcrowninsurance.com<br />
W: www.royalcrowninsurance.com<br />
FIONA MULLEN<br />
DIRECTOR<br />
SAPIENTA ECONOMICS LTD<br />
Sapienta Economics is a Nicosia-based economic consultancy producing toplevel<br />
analysis primarily on <strong>Cyprus</strong> for a range of prestigious clients, including<br />
banks, oil/gas majors, big four accounting firms and over a dozen embassies.<br />
Our services include bespoke consultancy and the monthly Sapienta Country<br />
Analysis <strong>Cyprus</strong>. Each month we take an in-depth look at prospects for political<br />
stability, government effectiveness, a resolution of the <strong>Cyprus</strong> problem,<br />
structural policies including natural gas, fiscal performance, debt sustainability,<br />
banking sector stability and the latest economic trends. No other organization<br />
offers such breadth and depth of inter-related issues. Sapienta Economics and<br />
its Director Fiona Mullen are independent, with no political ties in <strong>Cyprus</strong> or<br />
abroad and no investment in <strong>Cyprus</strong> shares or bonds.<br />
Tenedou 7, No 401, Lykavitos,<br />
CY1055 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 99 338 224<br />
Contact: Fiona Mullen - Director<br />
E: fiona.mullen@sapientaeconomics.com<br />
W: www.sapientaeconomics.com<br />
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<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
PETROS THEODOTOU<br />
FCCA<br />
FOUNDER & CEO<br />
SERVPRO ACCOUNTANTS & CONSULTANTS<br />
ServPRO is a team of accountants, auditors, lawyers and consultants. A practicing<br />
member of ICPAC and ACCA, a National Member of Auditaxes International, an<br />
ACCA Approved Employer, an ISO 9001:2015 and an ISO 27001:2013 Certified<br />
Company. Our areas of expertise are Accounting & Finance, Advisory &<br />
Consulting, Audit & Assurance, Corporate & Legal, Economic Substance and<br />
Taxation. We have a stellar track record in delivering practical solutions to<br />
corporate and individual clients with a spherical, solution-driven and detailoriented<br />
approach, while demonstrating an aptitude of professionalism,<br />
integrity and commercial acumen. Today, we celebrate 10 years of delivering an<br />
impeccable quality of services and practical solutions across a diversified range<br />
of industries to a growing multinational clientele.<br />
Accountants & Consultants<br />
1 Kinyra Street, Kinyras Tower,<br />
3rd Floor, 1102 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 021 100<br />
Contact: Petros Theodotou FCCA -<br />
Founder & CEO<br />
E: info@servpro.com.cy<br />
W: www.servpro.com.cy<br />
GEORGE MAVROS<br />
MANAGING DIRECTOR<br />
SKYLINK SERVICES LTD<br />
Skylink Services Ltd is a provider of ground handling services for Executive<br />
Aviation Aircraft in <strong>Cyprus</strong>. We began operations in 1998, filling the gap in<br />
the Executive Aircraft ground handling market at both International Airports<br />
of <strong>Cyprus</strong>, Larnaca and Paphos. Skylink Services now owns and operates the<br />
only FBO facility at Larnaka Airport offering around-the-clock professional<br />
VIP aircraft and passenger handling services. Currently representing over 400<br />
companies that own or operate executive aircraft worldwide. Skylink Services<br />
also manages and operates the new Heads of State Lounge facility at Larnaka<br />
International Airport. This Lounge is used by all Heads of State visiting the<br />
Republic of <strong>Cyprus</strong> as well as a host of other visiting dignitaries.<br />
P.O. Box 43012, Larnaca Airport,<br />
6650 Larnaca - <strong>Cyprus</strong><br />
T: (+357) 24 840 900<br />
T: (+357) 24 643 334 24hr Operation<br />
E: flightops@skylink.com.cy<br />
W: www.skylink.com.cy<br />
STELLA KAMMITSI<br />
STEP CYPRUS CHAIRWOMAN<br />
SOCIETY OF TRUST AND ESTATE PRACTITIONERS (STEP)<br />
STEP is the global professional association for practitioners who specialise<br />
in family inheritance and succession planning. STEP works to improve public<br />
understanding of the issues families face in this area and promotes education<br />
and high professional standards among its members. STEP members help<br />
families plan for their futures, from drafting a will to advising on issues<br />
concerning international families, protection of the vulnerable, family businesses<br />
and philanthropic giving. Today STEP has more than 20,000 members across<br />
96 countries from a range of professions, including lawyers, accountants and<br />
other specialists. The <strong>Cyprus</strong> branch of STEP numbers over 185 experienced<br />
professionals from all over <strong>Cyprus</strong>, and is active in the spread of industry related<br />
knowledge, through regular conferences and presentations.<br />
P.O.Box 24789, 1303 Nicosia, <strong>Cyprus</strong><br />
T: (+357) 22 777 787<br />
Contact: Stella Kammitsi - STEP<br />
<strong>Cyprus</strong> Chairwoman<br />
E: skammitsi@raza.com.cy<br />
W: www.step.org<br />
STELIOS AMERICANOS<br />
MANAGING PARTNER<br />
STELIOS AMERICANOS & CO LLC<br />
Stelios Americanos & Co LLC is a full services, highly innovative law firm with<br />
headquarters based in Nicosia, <strong>Cyprus</strong> and a branch in Athens, Greece. It<br />
specializes in corporate, commercial and banking law, corporate and commercial<br />
litigation, real estate, financial advisory & regulation and blockchain legal<br />
advisory. Stelios Americanos & Co LLC provides its services to governmental<br />
organizations, international banking institutions, public companies and<br />
multinational corporations. Moreover Stelios Americanos & Co LLC has created<br />
close relationships with reputable international legal and consulting firms and is,<br />
thus, able to assist clients with their cross-border transactions and needs. Today,<br />
Stelios Americanos & Co LLC is considered one of the leading law firms in <strong>Cyprus</strong><br />
in the areas of its specialty.<br />
12, Demostheni Severi Av.<br />
Office 601, 6th Floor 1080 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 465 500<br />
Contact: Stelios Americanos<br />
- Managing Partner<br />
E: stelios@americanoslaw.com<br />
W: www.americanoslaw.com<br />
SOFOCLES TYMVIOS<br />
CHIEF EXECUTIVE OFFICER<br />
SWISSPORT CYPRUS LIMITED<br />
Swissport has been present in <strong>Cyprus</strong> since January 2006 providing Passenger,<br />
Ramp, Ticketing, cargo, and executive aviation services at both the island’s<br />
airports. It is a subsidiary of Swissport International, the words largest Airport<br />
provider of ground and air cargo services, active at over 269 airports in 47<br />
countries across all five continents. With more than 850 client-companies,<br />
Swissport provides airport ground services for 82 million passengers, and<br />
4.1 million tons of cargo at 116 warehouses world-wide per annum, with a<br />
workforce of 45,000. In <strong>Cyprus</strong> Swissport employs over 850 people, trained at<br />
the highest level and in line with industry standards and procedures.<br />
Office 2, Larnaka International Airport<br />
T: (+357) 24 008 781<br />
Contact: Michael Kokkinos -<br />
Commercial Manager<br />
E: Michael.kokkinos@swissport.com<br />
W: www.swissport.com<br />
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<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
TECHISLAND<br />
TechIsland is a non-profit organization with the mission to promote and<br />
accelerate the growth of technology and innovation ecosystem in <strong>Cyprus</strong>. At the<br />
same time, it’s the biggest Tech Association in <strong>Cyprus</strong>, with currently more than<br />
140 Members. In its strategy, called Vision 2030, there are a series of actions<br />
and initiatives that have the aim of establishing <strong>Cyprus</strong> as a top-tech destination<br />
for companies and professionals.<br />
MARIOS GIORGOUDIS<br />
GENERAL MANAGER<br />
Riga Feraiou 47, Limassol - <strong>Cyprus</strong><br />
T: (+357) 99 987 577<br />
Contact: Marios Giorgoudis – General Manager<br />
E: marios@thetechisland.org<br />
W: www.thetechisland.org<br />
ANTONIS ANTONIOU<br />
CHAIRMAN<br />
THE CYPRUS EMPLOYERS AND INDUSTRIALISTS FEDERATION (OEB)<br />
The <strong>Cyprus</strong> Employers and Industrialists Federation (OEB) was founded in 1960.<br />
Today, its members are active in all sectors of the economy and employ more<br />
than 60% of the private sector’s workforce. OEB is a pancyprian independent<br />
organisation comprising of more than 100 of the main professional / sectoral<br />
Associations, as well as hundreds of companies from the Agricultural,<br />
Manufacturing, Construction, Commercial and Services <strong>Sector</strong>s. In total, OEB<br />
has more than 10.000 Members / Enterprises. OEB is established as a dynamic<br />
force in <strong>Cyprus</strong>’ socio - economic development and welfare and acts as the main<br />
advocate and representative of the business community.<br />
years<br />
4, <strong>Cyprus</strong> Employers & Industrialists<br />
Federation Street, 2000 Nicosia /<br />
P.O.Box 21657, 1511 Nicosia<br />
T: (+357) 22 643 000<br />
Contact: Michalis Antoniou - Director General<br />
E: info@oeb.org.cy<br />
W: www.oeb.org.cy<br />
THE CYPRUS TECH ASSOCIATION<br />
The <strong>Cyprus</strong> Tech Association, a non-for-profit entity, aspires to provide a<br />
dynamic platform for all tech professionals and international ICT companies<br />
established in <strong>Cyprus</strong> to discuss, promote, and address common challenges. It<br />
also provides a formal representation to all its members to forums, public and<br />
private entities, as well as offers direction on key strategic issues, including the<br />
economic importance of the ICT sector and policy advocacy.<br />
KYRIAKOS KYRIAKOU<br />
PRESIDENT<br />
Makariou III Avenue,<br />
4th Floor, 1065 Nicosia - <strong>Cyprus</strong><br />
T: (+357) 441 133<br />
E: info@techcyprus.org.cy<br />
W: www.techcyprus.org.cy<br />
KYRIAKOS IORDANOU<br />
GENERAL MANAGER<br />
THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF CYPRUS (ICPAC)<br />
The Institute of Certified Public Accountants of <strong>Cyprus</strong> (ICPAC) is the competent<br />
authority for regulating the accounting profession and the sole recognised body<br />
of Auditors by the state in <strong>Cyprus</strong>. Established in 1961, ICPAC currently has<br />
more than 5.300 professional accountants as members and 3.500 students.<br />
ICPAC houses all professional accountants, supports and promotes the activities<br />
and interests of the accountancy profession, safeguards the reputation of the<br />
profession and adherence to the Code of Ethics, as well as provides for the<br />
continuous professional development and updating of members. In addition,<br />
ICPAC is also a competent authority under the Anti-Money Laundering law, the<br />
laws on the Regulation of Enterprises Providing Administrative Services and the<br />
Insolvency Practitioners Law, as well as one of the primary stakeholders of the<br />
economy of the country.<br />
11 Byron Avenue, CY-1096, Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 870 030<br />
Contact: Kyriakos Iordanou – General Manager<br />
E: info@icpac.org.cy<br />
W: www.icpac.org.cy<br />
ANDREAS MERCOURI<br />
GENERAL MANAGER<br />
TRIDENT TRUST COMPANY (CYPRUS) LIMITED<br />
Founded in 1978, the Trident Trust Group is one of the largest independent<br />
providers of corporate and fiduciary services, employing more than 900 staff<br />
in over 25 jurisdictions. Trident Trust <strong>Cyprus</strong> is one of the Group’s leading<br />
offices established in 1996 and is today one of the main members of the local<br />
financial services industry, employing just over 75 employees. Trident <strong>Cyprus</strong> is<br />
regulated by the <strong>Cyprus</strong> Securities and Exchange Commission and provides a<br />
full range of services on <strong>Cyprus</strong> companies, funds and trusts, principally to law<br />
firms, accountants and tax advisors, as well as financial institutions and large<br />
international organizations.<br />
Griva Digeni 115, Trident Centre<br />
3101 Limassol - <strong>Cyprus</strong><br />
T; (+357) 25 820 650<br />
Contact: Andreas Mercouri - General Manager<br />
E: cyprus@tridenttrust.com<br />
W: www.tridenttrust.com<br />
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<strong>Cyprus</strong>Profile Digital Series<br />
Who’s Who - <strong>Cyprus</strong> Business Directory<br />
MICHALIS<br />
HADJIPANAYIOTOU<br />
EXECUTIVE DIRECTOR<br />
TRILOGY LIMASSOL SEAFRONT<br />
Brought to life by a world-class collaboration of architects, designers and<br />
developers, Trilogy is an exciting new high-rise development in the heart of<br />
Limassol. A trio of shimmering beachfront towers surrounding a bustling inner<br />
plaza, Trilogy is a place to live, work and play. Its luxury apartments blend the<br />
aspirational dream of high-end living, with the sophistication of urban cool. Stateof-the-art<br />
offices also enjoy first-class services and uninterrupted sea views from<br />
every window. Three distinct social areas offer resident-only facilities for secluded<br />
leisure and relaxation, as well as a lively public plaza that can be enjoyed and<br />
experienced by everyone. Your story begins here…<br />
341, 28th October Avenue<br />
3106 Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 362 800<br />
Contact: Yiorgos Georghiou - Sales Director<br />
E: info@trilogylimassol.com<br />
W: www.trilogylimassol.com<br />
NICK TERRY<br />
MANAGING DIRECTOR<br />
VISTRA (CYPRUS) LIMITED<br />
Vistra Group is a leading fund, trust and corporate services provider. Ranked<br />
among the top three in our industry, we have 81 offices across 45 countries,<br />
and employ over 4.500 professionals globally. In <strong>Cyprus</strong>, our team of forty<br />
professionals provides a uniquely broad range of services and solutions for a<br />
wide client-base of high net worth entrepreneurs, international investment<br />
funds and multinational groups. Certainly, in these challenging times, and with<br />
the regulatory and financial environment constantly changing, many clients<br />
seek comfort in working with a world leader such as Vistra; its wide group<br />
network and professionalism being an invaluable asset.<br />
2nd Floor Sotiri Tofini 4<br />
Agios Athanasios, 4102 Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 817 411<br />
Contact: Nick Terry - Managing Director<br />
E: Nick.Terry@vistra.com<br />
W: www.vistra.com<br />
GEORGE W. SAMS<br />
CEO<br />
WEALTH FUND SERVICES LTD<br />
Wealth Fund Services Ltd is a global advisory and asset management company,<br />
based in <strong>Cyprus</strong> and licensed by CySEC (<strong>Cyprus</strong> Securities & Exchange Commission)<br />
as an AIFM management company with license No 6/78/2012. It operates in<br />
the field of setting-up, running and managing UCITS Mutual Fund, Registered<br />
Alternative Fund (RAIF) and Alternative Investment Fund (AIF) in line with the<br />
recent EU Directive which is implemented by the Cypriot legislation. It also offers<br />
Discretionary Asset management and Advisory services to HNI and Institutional<br />
clients. The primary goal of the Company is the protection of the assets under<br />
management remaining focused on achieving high return yields and providing top<br />
quality services to its investors.<br />
Kennedy 12-14, Kennedy Business Center<br />
Office 305, 1087, Nicosia - <strong>Cyprus</strong><br />
T: (+357) 22 755 506-07<br />
Contact: George Sams - CEO<br />
E: info@wealthfs.com.cy<br />
W: www.wealthfs.com.cy<br />
JOHNY ABUAITAH<br />
CEO<br />
WINDSOR BROKERS LTD<br />
Windsor Brokers was established in Limassol <strong>Cyprus</strong> with roots dating back to<br />
1988. The Company was the first Cypriot Investment Firm of its type to be licensed<br />
and regulated by the Central Bank of <strong>Cyprus</strong>, and by 2004, it was regulated by<br />
the <strong>Cyprus</strong> Securities and Exchange Commission. Our company’s mission is to<br />
empower People in the pursuit of their financial goals. For three decades, we<br />
have remained committed to serving investors who place security, integrity, and<br />
reliability at the forefront of their investment goals.<br />
Windsor Brokers Business Center,<br />
Spyrou Kyprianou 53, Mesa Geitonia<br />
4003 Limassol - <strong>Cyprus</strong><br />
T: (+357) 25 500 700<br />
Contact: Jabra Serieh - Director of Marketing<br />
E: Jabra.Serieh@WindsorBrokers.eu<br />
W: www.windsorbrokers.eu<br />
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