Despite the fact that the United Kingdom has voted to leave the European Union, Cyprus’s financial sector could take advantage of opportunities created by Brexit, the Cyprus Mail reports.
Michalis Kammas, director general of the Association of Cyprus Banks said on June 28, that there would certainly be changes, however it is unknown whether there would be deterioration or not. He also added that “when difficulties emerge, opportunities also arise”.
The chairman of DISY, Averof Neophytou, commented on the above mentioned topic and said that “instead of complaining, Cyprus should see how to take advantage of possible opportunities arising from Brexit, because the preconditions are there”. By saying this, Neophytou reacted to public statements announced by opposition politicians who were accusing the government of not doing its best so as to protect Cyprus from the effects of Brexit.
On June 27, the Guardian mentioned that London may lose up to 100.000 jobs in its financial sector should banks implement their Brexit contingency plans. Furthermore, Hungary’s government is already preparing unspecified incentives to attract British business which may decide to leave the UK following its recent decision to leave the EU.
While the Cypriot government has no intention of offering incentives to UK-based companies that will seek to transfer their business or headquarters out of the UK, it will definitely not discourage them from settling in Cyprus.
Michalis Kammas also listed Cyprus’s advantages which, in his opinion, include legal and accounting services based on common law, island’s geographic position and EU membership. “Cyprus has a lot to offer including its ship management sector and a robust banking system. We need to give all probabilities a serious thought. We need to be proactive”, he noted.
Более подробную информацию о налогах и сборах при покупке недвижимости на Кипре вы можете получить на нашей странице.
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