Theo Parperis on how establishing Cyprus as one of the region's family office hubs will increase FDI

"Establishing Cyprus as one of the region's family office hubs will increase foreign direct investment and create more job opportunities for our talented people," suggests Theo Parperis, the Chairman of the recently established FOC Family Office Connect.

Speaking to CBN on behalf of the team behind the new venture, Parperis talks about how FOC Family Office Connect is contributing to these efforts and shares the thinking behind its formation and aims.

Among other things, he also discusses the advantages Cyprus offers family offices today as well as what policy or ecosystem developments would further enhance the country's appeal.

Congratulations on the recent launch of FOC Family Office Connect (FOC). What was the motivation behind establishing this initiative in Cyprus?

FOC Family Office Connect was established to address the growing need for a central, trusted forum, dedicated to the family office community in Cyprus. We recognized a gap in the Cyprus international business ecosystem for policy advocacy, peer exchanges and collaboration within the Family Office space.

Our goal is to strengthen Cyprus’ position as a credible jurisdiction for family office activity and enhance our country's international business centre offering.

What is a Family Office and what are its main functions?

A family office is a private company established to manage the financial, investment, and personal affairs of an ultra-high-net-worth family. Its core objectives are to preserve and grow wealth across generations, support the family’s lifestyle, maintain strict privacy and control while at the same time ensuring that all activities align with the family's values. It also enables strategic global investments, succession planning, and the long-term preservation of the family’s legacy.

FOC is structured as a non-profit network. How does it aim to support the family office ecosystem in Cyprus and the broader region?

As a non-profit, FOC is designed to operate independently and in the collective interest of its members. We support the ecosystem by promoting best practices in governance, facilitating knowledge-sharing, and engaging with policymakers to create a supportive regulatory environment for family offices. Our initiatives include curated events, thematic working groups, and access to a peer-driven professional network.

Who is FOC designed to serve, and how do you define its target community?

FOC is designed to serve family office principals, executives, and qualified advisors who work closely with private capital and intergenerational wealth. Our target community includes both established and emerging family offices, as well as professionals in tax, legal, investment, and estate planning. Membership is open to Family Offices as well as Service providers who are nominated by at least one Family Office which is already a member.

What advantages does Cyprus offer for family offices today, and how can FOC help promote them more effectively?

Cyprus offers talented individuals, a well-developed professional services sector, and a growing interest in cross-border wealth structuring and a favourable lifestyle in a safe environment. It also provides access to EU regulation, English-speaking legal systems, and a strategic geographic position. FOC will promote these advantages through targeted advocacy, strategic partnerships, and promotion to the international business scene.

From your perspective, what policy or ecosystem developments would further enhance Cyprus’ appeal as a family office hub?

A dedicated legal and tax framework for family offices—similar to models seen in Singapore and Luxembourg—would offer much-needed clarity and confidence. Additionally, streamlining immigration, licensing, and relocation processes would support the operational needs of families moving to Cyprus. FOC is actively engaging with policymakers to help shape and support such reforms. Establishing Cyprus as one of the region's family office hubs will increase foreign direct investment and create more job opportunities for our talented people.

Finally, what are the next steps for FOC following the launch, and how can interested parties get involved?

Following the launch, our focus is to complete the onboarding of the new members, forming advisory councils, and launching our first thematic events and working groups. We encourage family office professionals and aligned stakeholders to register their interest via our website and explore membership opportunities. As a member-driven network, we welcome all who share our commitment to long-term stewardship and collaboration.

As a final note, I would like to thank both Invest Cyprus and the Cyprus Chamber of Commerce and Industry (CCCI) for their invaluable support to the FOC.

Also read: F.O.C. Family Office Connect Cyprus officially launches in Limassol (pics)