23th June 2015, London: The UK Cyprus Enterprise Council joined forces with the International Professionals Association (IPA) to organise a well-attended seminar and reception on Cyprus's attractions as a centre for services, enterprise and investment at the Cyprus High Commission this week.

UKCEC Chairman Peter Droussiotis and IPA Chairman Simon Denton welcomed a packed and diverse audience of British and UK Cypriot entrepreneurs, business and professional people, which they noted was a positive sign of the level of interest in Cyprus as a destination for business.

In his opening remarks, Peter Droussiotis, UKCEC Chairman, pointed out that the event was “taking place against a positive backdrop on the island, both in terms of the Cypriot economy, which is gradually re-emerging from the crisis and, of course, encouraging signs that the negotiations currently under way may, at long last, lead to the island’s reunification which has the potential to transform Cyprus’s future prospects.”

Cyprus High Commissioner His Excellency Euripides L Evriviades under whose auspices the event was held, set the tone for the evening by outlining that the Cypriot economy had turned a corner: "We can state with confidence and certainty that the economy..... is on the road towards full recovery. Cyprus is returning to the international markets, far earlier than anyone predicted."


He went on to say that: "In a globalized economy where enterprises and investors have high business expectations, Cyprus provides a complete value proposition as a centre for international economic activities by offering numerous advantages such as tax credit incentives, simplified procedures and a well-trained and versatile work force."

Simon Denton, Chairman of IPA, said: "IPA is delighted to have joined forces with the UKCEC in organising this event. There are clear synergies and areas of common interest between our respective organisations which we are keen to develop in the future. The presentations pointed to the strengths and importance of Cyprus as an EU hub for international business, especially for UK persons wishing to expand their UK business to overseas destinations. With a positive Double Tax Treaty enjoyed between both countries, a low, competitive tax system, a diversified but qualified work force and a less bureaucratic regime than other international finance centres, Cyprus should be a shortlisted jurisdiction for a typical international business person or company."

The event covered a diverse range of themes, with presentations delivered by an authoritative panel:

  • Cyprus as a Maritime Centre - George Mouskas, President of the Cyprus Union of Ship Owners and one of the Council's Goodwill Ambassadors
  • Effective Management of Hydrocarbon Reserves in the Republic of Cyprus – Professor Toula Onoufriou, President of the Cyprus Hydrocarbons Company and Vice Rector of the Cyprus University of Technology; also one of the Council's Goodwill Ambassadors
  • The advantages of Cyprus as a centre for the protection and exploitation of global IP - Nick Kounoupias, Founder and CEO, Kounoupias IP and one of the Council's Goodwill Ambassadors
  • The benefits and characteristics of the EU Freedom of Establishment Act and why Cyprus should be a shortlisted domicile - Andrew Terry, Partner, Withersworldwide
  • Cyprus as an Educational Centre - Dr Patrick Fullick, Founder - Hylle Royce Education and one of the Council's Goodwill Ambassadors

There was consensus among the panel and within the audience that Cyprus is open for business and that it presents a variety of opportunities for investment, especially in targeted sectors of the economy such as tourism, energy, including renewable energy, shipping, services, education, the Arts and real estate. The seminar and reception facilitated information sharing and networking to foster collaboration in aid of this.

For further information please contact Peter Droussiotis by email at
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Download a selection of photos for publication here.

For photos of the event please visit the Council's Photo Gallery at:

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Notes to editors

  • UKCEC is an entirely voluntary, independent, apolitical and not for profit organisation. It relies exclusively on donations and sponsorship to carry out its work.
  • It promotes initiatives which encourage inward investment and bi-lateral trade with an emphasis on targeted sectors of the economy i.e. tourism, energy, services in the broadest sense of that word, education, the Arts and Real Estate.
  • The Council is governed by a Board, chaired by Peter Droussiotis, Board members listed here:
  • The Council's network of Goodwill Ambassadors can be seen here:
  • The International Professionals Association (IPA) provides a regular forum to its members through which they interact and develop mutually rewarding business relationships with other professional practitioners involved in international corporate and commercial activities.