Focusing on your family’s vision and legacy
The rapidly transforming socioeconomic scenery, increasing complexity, scrutiny and new regulatory requirements are some of the reasons why many wealthy families set up their own Family Office to better control their wealth and handle their private affairs. Since every family has its own unique set of circumstances, there are as many types of family offices as there are families. Some provide administrative support while others oversee the management of investments and coordinate all of the family's financial and personal/lifestyle needs.
For more than 40 years now, we, at PwC Cyprus, have been working closely with our high networth private clients supporting them on their business and private matters. On the private side, we have been supporting a large number of families to successfully handle important issues such as asset protection, succession planning, family governance, family office effectiveness etc.
Together with our global network we offer both local and international expertise for optimal solutions helping you preserve your wealth across generations and across the globe.
Today more than ever, wealthy families are faced with new risks, challenges and changing needs both for the business and the family. Family Offices are evolving to meet these needs:
Protect the family wealth through effective asset protection, investment management and succession planning
Enhance family cohesion and transition between generations regarding the family’s legacy, strategy, values and key decisions
Exercise better control over family holdings / assets through the right governance
Manage the various risks facing the family (including investment risk, reputation risk etc) by proactively preparing for various eventualities
Manage all aspects of family needs and affairs, by providing the relevant support and alleviating administration burden
We at PwC, understand that there is no ‘one-size-fits-all’ approach. No matter at which stage of your business journey you are, if you are an established Family Office or thinking about setting up a Family Office or if you are an entrepreneurial start-up our multidisciplinary team is here to help you to find the right solutions for your next steps.
We will run a holistic diagnostic on your Family Office using a PwC Branded Tool. We shall formulate our detailed suggestions on the basis of the results and global best practices and will work with you to prioritize.Beyond the diagnostic, we can support your Family Office on a wide spectrum of core issues such as tax, legal, technology etc.
If you are considering setting up your own Family Office, we will help you in every step of the way - from assessment and visioning, to design, planning and implementation.
Even if you don’t have an established Family Office but you need specialised advice in specific areas, e.g. asset protection, succession planning, family governance, tax planning etc., our team is here to help you.
Partner, In Charge of Private Wealth Services, PwC Cyprus
Phryni Yiakoumetti Mina
Director, Private Wealth Services, PwC Cyprus
Natalie Vassiliou Moustaka
PwC Legal, Solicitor/Senior Manager, PwC Cyprus