Having embarked on the road to recovery after a near-fatal banking crisis, the Mediterranean island of Cyprus is looking to re-establish itself as a regional business base, while hopes for an end to division of the island, partly occupied since the Turkish invasion of 1974, are also rising. PWM talks to financial firms, legal advisers, government agencies and politicians about how expertise in trust and company formation may help the jurisdiction catch new wealth from both Russia and the Middle East, whereas a vibrant shipping industry and real estate market are making Aphrodite’s island more attractive

Cyprus is changing and learning from past mistakes. The banking sector has halved in size while there are great hopes for the shipping and funds industries

Cyprus is on the road to recovery with both its banks and economy having been restructured, but the island has a long way to go to regain its former glory as a financial services centre