Speaking to audiences at the Cyprus-India Business and Investment Summit in Mumbai, Angeliki Frangou, the Head of the Cyprus Central Depository, showcased the Cyprus Stock Exchange’s special qualities and main attractions.
After presenting an overview of the CSE, including its current path towards privatisation, Frangou underlined how the Cyprus Stock Exchange can act as the EU gateway for non-EU issuers.
She explained that the CSE can connect European capital, International Issuers and institutional and private investors seeking an EU jurisdiction while also acting as an EU jurisdiction supporting cross-border capital market activity.
Among other elements, she noted the CSE’s EU and Eurozone jurisdiction, its fast and cost-efficient listing processes, its provision of various market options to satisfy a variety of different business needs and its provision of an integrated market solution for listing, trading, clearing and settlement.
As well as highlighting the benefits of the island’s geographic positioning, Frangou noted its Anglo-Saxon legal and corporate governance framework, all while also being an established ecosystem for investment funds and Special Purpose Vehicles (SPVs) and international tax and legal advisory.
Frangou went on to discuss Cyprus’ tax framework and other incentives of interest to potential investors.
These include Cyprus’ favourable tax regime, encompassing among other things Double Taxation Avoidance Agreements with more than 50 countries, and tax incentives connected directly to the CSE including but not limited to tax deduction up to €300,000 for expenses for new listings.
The Head of the Cyprus Central Depository also talked about the scope of the CSE’s collaboration, including dual listings and cross listings, the development and trading of new financial products (e.g. ETFs), joint research, training and outreach programmes, and other areas of mutual interest.
Frangou, in addition, highlighted the Memorandum of Understanding between NSE IFSC Ltd (NSE IX) and the Cyprus Stock Exchange, noting that Ellinas Finance Public Company Ltd is becoming the first listed company on CSE, which will list (without trading) on NSE IX (Financial sector).
Organised by IMH in collaboration with Invest Cyprus, the Cyprus – India Business and Investment Summit took place in Mumbai on 28 January.
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