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CIBA To Study Cyprus International Business Sector

by Lorys Charalambous, Tax-News.com, Cyprus

30 October 2006


The Cyprus International Businesses Association (CIBA) has reached an agreement with the Consultancy Unit of Intercollege Limassol Campus, to conduct an in-depth study of the international business sector in Cyprus. The study commenced in October 2006 and is expected to finish in March 2007.

The study will assist in identifying ways to strengthen the contribution of the sector to the Cypriot economy and finding ways to promote communication and collaboration among CIBA and other partners in the sector.

As part of this agreement, the Intercollege Consultancy Unit will investigate the sector's contribution to the Cyprus economy and identify problems and challenges that international businesses face in Cyprus. Furthermore, the Unit will provide suggestions on how CIBA can establish an effective cooperation with its members, international business bodies and governmental authorities. The study will assist CIBA in identifying ways to attract new members, support its existing members, establish contacts with international business bodies, foreign government authorities and organisations. Finally, ICU will create new databases, which will improve the effectiveness of CIBA record keeping.

The study will involve extensive analysis of the current legislation and interviews with various CIBA officers, managers of international companies in Cyprus, key officials of the Cyprus government and representatives of major financial institutions, law firms and international accounting firms.

The chief objectives of CIBA are:

  • To promote and protect the interests of the international business community of Cyprus both nationally and internationally;
  • To promote Cyprus abroad as an international business centre;
  • To communicate with the relevant authorities and discuss new ways of improving incentives, facilities and procedures relating to the establishment and operation of international entities in Cyprus.


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