An interview with our Managing Partner, Elias Neocleous, has recently been published in Gold Magazine. During a wide-ranging discussion Elias was asked for his thoughts on the challenges and opportunities facing the professional services sector in Cyprus. Whilst he was able to suggest a host of areas ripe for growth, and in which Cyprus holds competitive advantages, he also believes that much is contingent on the ability of the professional services sector to promote the country and itself correctly. Moving forward professionals must exhibit business conduct which is beyond reproach and push the fact that whilst Cyprus operates a business-friendly approach it also maintains full compliance with EU and OECD regulatory requirements .
Elias also stressed another area of concern specific to Cyprus which is the slow pace at which the Courts in particular, but government offices in general, are introducing modern work practices and modern technology. Many areas of opportunity such as becoming a hub for ‘Headquartering’ of international businesses are reliant on government and governmental offices being viewed as approachable and efficient. This is not currently the general perception although change is slowly being implemented. He believes that resolving this, and the reputation issue, would greatly enhance the ability of Cyprus to exploit the many opportunities that exist in, for example, shipping, construction, and the establishment of ‘family offices’.
To read the interview in full and learn about the opportunities that exist within Cyprus please follow this link.
For further information please contact Elias Neocleous or speak with your usual contact at Elias Neocleous & Co LLC.
