Marking 21 Years: CIBA Holds 2014 AGM
The Cyprus International Business Association (CIBA) convened on November 14 to hold its 21st Annual General Meeting, at the Four Seasons Hotel in Limassol.
CIBA President, Frixos Savvides, delivered a welcoming speech, while both members and honoured guests – such as General Secretary Chris Koufaris and President Nicos Anastasiades – will also address the gathering.
A cocktail reception followed the conclusion of the meeting.
The Association also presented its annual Business Excellence Award during the AGM, a prestigious recognition bestowed upon Windsor Brokers Ltd this year, reflecting the firm’s outstanding achievements, professionalism and expertise in the financial industry.
The Cyprus International Businesses Association (CIBA) was established on 31 December 1992, on the initiative of a number of businessmen who had based their international activities in Cyprus, taking advantage of the island’s advantageous tax regime and relaxed immigration policies as well as the Mediterranean sunshine and a high standard of living. At the time, several hundred companies with foreign shareholders had already opened fully- fledged offices in Cyprus but they had no specific association or organisation to represent and support their interests.
CIBA is a non-government, fully independent association, financed by membership fees only. Decisions are taken, and activities and initiatives are organised, by its President and a (max.) 12-member Executive Committee. All the members of the Executive Committee are volunteers and receive no compensation for their time, effort, transport or any other out-of-pocket expenses. The Committee is elected by the member companies at the Annual General Meeting. The office and administrative affairs are managed by an Assistant General Secretary.
Since its formation, CIBA has gone to great lengths to represent and safeguard the interests of international businesses in Cyprus, their international shareholders, managers and staff. This may have been a fairly simple task in the early years of the Association. Matters became more complicated as EU membership negotiations with Brussels proceeded. Joining the European Union required substantial changes to almost every aspect of business life in the country: taxation, social insurance and immigration were but a few of the most important issues.