Gold Magazine November - December 2013, Issue 32 | Page 46

F or a number of years, Administrative Services Providers, better known as Fiduciary Companies, have been at the forefront of efforts to make Cyprus a regional centre for professional and financial/investment services. A law regulating the sector was finally passed by the House of Representatives and things were looking up. How, then, have the fiduciary firms been affected by the bailout of the economy and the downsizing of the banking sector? Gold spoke to George Savvides, President of the Cyprus Fiduciary Association, and Helen Hadjichristoudia, Chair of the Institute of Certified Public Accountants of Cyprus (ICPAC) Committee on Fiduciary Matters. Fiduciary George Savvides 46 Gold THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS main_story_.indd 46 07/11/2013 18:30