F.O.C. Family Office Connect Cyprus hosted its first members' event, a high-level meeting at the Amathus Beach Hotel in Limassol, bringing together key stakeholders from the financial, regulatory, and private wealth sectors to discuss the future of family offices in Cyprus.
The evening opened with a welcome speech and remarks from Theo Parperis, Chairman of F.O.C., who highlighted the organisation’s transition into its second phase. Having successfully built a network of over 30 members and engaged strategic partners, F.O.C. now aims to advocate for a formal legal framework for family offices in Cyprus. Parperis outlined three key pillars: the introduction of Private Foundations, a light registration regime for Single Family Offices, and a proportionate licensing model for Multi-Family Offices under CySEC. He emphasised the importance of institutional partnerships and ongoing dialogue with authorities, including the Registrar of Companies and the Ministry of Commerce.
Following Parperis’ speech, Panicos Vakkou, Vice Chairman of the Cyprus Securities and Exchange Commission (CySEC), delivered a keynote address focusing on the structures of collective investments. In his remarks, Vakkou elaborated on the existing legal framework and explained how family offices can be regarded as market participants within the Alternative Investment Funds sector.
Pavlos Economou, Officer of F.O.C., presented progress updates on the organisation’s mission and outlined the next steps in its strategic roadmap. These include initiatives such as partnerships with event organisers, a robust communications plan, the formation of a focus group to deliberate on the legal framework, and the organisation of future members’ events.
A highlight of the evening was the panel discussion titled “A Roadmap for a Cypriot Family Offices Legal Framework”, moderated by Parperis. Esteemed panelists included:
- Marios Tannousis, CEO, Invest Cyprus
- Alexey Gubarev, Co-founder and Board Member of Palta and Techisland
- Andria Andreou, Managing Director, Bolder Group Cyprus
- Tony Hadjiloucas, International Client Services, Private Wealth, PwC Cyprus
The panel explored the legal, operational, and strategic considerations for establishing a robust family office framework in Cyprus, followed by an engaging Q&A session. Through the interaction between the panellists and the audience, several important topics were raised, such as immigration limitations for family office employees and the complexities these offices face when working with local financial institutions.
The event concluded with a networking and drinks reception, offering attendees the opportunity to connect and collaborate over cocktails and canapés.
About F.O.C. Family Office Connect Cyprus
F.O.C. is a platform dedicated to fostering dialogue, collaboration, and innovation in the family office ecosystem in Cyprus and beyond. Through strategic events and initiatives, it aims to position Cyprus as a leading jurisdiction for family office services.
