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Cyprus Strengthens Its Position As An International Funds Hub: Key Takeaways From CIFA’s AGM

by News Editor

April 11, 2025

The Cyprus Investment Funds Association (CIFA) held its Annual General Meeting (AGM) on April 10, underscoring the country’s growing appeal as a global investment funds destination. With assets under management (AUM) now exceeding €9 billion and over 330 licensed investment entities operating in Cyprus, the sector is gaining serious momentum.

A Vision For Sustainable Growth

CIFA President Maria Panayiotou credited the industry’s progress to “vision, consistency, and collaboration.” Addressing the AGM, she emphasized the association’s commitment to fostering responsible capital flows, strengthening investor confidence, and ensuring Cyprus remains a competitive jurisdiction for investment funds.

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A major focal point of the AGM was the anticipated legislative changes aimed at reinforcing the regulatory framework. The long-awaited fund administration law is expected to be approved soon, alongside the proposed Foreign Direct Investment (FDI) Screening Law and national tax reforms—key steps in enhancing Cyprus’ attractiveness to international investors.

Strengthening Regulatory Foundations

CIFA is actively working with the Cyprus Securities and Exchange Commission (CySEC) to refine the Alternative Investment Funds Law and the Partnership Law, focusing on clearer legal definitions and ensuring alignment with evolving EU regulations. This collaborative approach is designed to bolster Cyprus’s reputation as a well-regulated, investor-friendly jurisdiction.

Expanding Global Reach

Following the success of its 2024 roadshow in Athens, CIFA is ramping up efforts to promote Cyprus as a fund domicile in high-growth markets. Germany and the Middle East have been identified as priority regions, with targeted promotional activities set to take place in the coming months.

Additionally, CIFA is partnering with Invest Cyprus to conduct a gap analysis of the fund ecosystem, identifying growth opportunities and addressing any existing barriers to expansion.

Talent Development And Financial Literacy

Beyond regulatory and promotional efforts, the AGM highlighted CIFA’s push for education and capacity-building. The association has expanded its member-training programs, offering specialized workshops and accredited sessions to keep industry professionals at the forefront of global best practices.

On a broader scale, CIFA continues to contribute to financial literacy initiatives through its role in the Cyprus Financial Literacy and Education Committee (CyFLEC), aiming to equip individuals with the knowledge to make informed investment decisions.

ESG Takes Center Stage

The AGM wrapped up with a panel discussion on environmental, social, and governance (ESG) investment trends, reinforcing the growing role of sustainable finance in shaping the future of the sector. With ESG compliance becoming a key differentiator in global capital markets, Cyprus is positioning itself as a forward-thinking player in this space.

Looking Ahead

CIFA’s AGM painted a clear picture: Cyprus is not just keeping pace with international fund trends—it is actively shaping them. With regulatory reforms in motion, strategic international outreach, and a strong emphasis on investor confidence, the country is set to further solidify its status as a premier investment funds hub in the years ahead.

The Future Forbes Realty Global Properties

The Rocks Project Advances Through Licensing Process In Pentakomo

Overview Of The Ambitious Development

A large tourism development in Pentakomo is moving through the licensing process. Known as The Rocks Project, the proposal includes a hotel, villas, apartments and a beach club along the coast east of Limassol.

Strategic Location And Broader Impact

Located along the coastal corridor between Limassol and Zygi, the project would form part of the wider Governor’s Beach area. The site is situated near several state and energy infrastructure facilities, including the Evangelos Florakis Naval Base in Mari, making it subject to additional planning and regulatory considerations.

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Master Plan And Key Infrastructure

Situated within the administrative boundaries of Pentakomo, the development is planned for the coastal area of Argaki Tou Mavrou. The project is being promoted by DRL5COMOS Properties Ltd and is supported by an environmental impact assessment prepared by P. Nikolaidis & Associates Ltd. The assessment is available for public consultation until July 3, 2026.

According to the master plan, operations are expected to begin in 2029. Plans include a 14,000-square-metre hotel with 126 rooms, a 900-square-metre spa and wellness centre, restaurants and dining facilities, 26 villas, 73 apartments and penthouses, and a 1,050-square-metre beach club with indoor and outdoor leisure areas. Parking facilities for 240 vehicles are also included in the proposal.

Integration With The Existing Landscape

The development plan allocates 12% of the site to public green space and includes an internal road network. Project documents indicate that several existing structures, including the Kalymnos Fish Tavern and current beach facilities, would be demolished as part of the redevelopment.

Regulatory And Institutional Considerations

The licensing process is ongoing and includes consultations with relevant local and government authorities. Comments submitted by the Ministry of Defence have not been made public due to the site’s proximity to the naval base. Those observations are expected to be reviewed by the environmental impact assessment committee during closed sessions.

Conclusion

With its carefully structured vision and strategic positioning, The Rocks Project promises to be a significant catalyst for economic and social growth in eastern Limassol. As it advances through the regulatory process, stakeholders remain focused on ensuring that this landmark development meets the highest standards of design, sustainability, and community integration.