UK tax and wealth management advisory firm The Fry Group has opened a new office in Cyprus to provide financial advice to resident UK expatriates.

Leading the new office, which is based in the city of Limmasol, is financial advisor Tony Pentland.

The launch of the new Cyprus office ensures that the financial advice given to clients is sensitive to local regulations and tax considerations, the firm said in a statement.

“In the financial climate we are facing today, we felt it was important to open a full-time office in Cyprus to deliver a more personal, local service to our clients who reside there... At a time when other firms are scaling down in such areas, we believe the local support is vital to provide direct support for our clients,” said Graham Barnes, The Fry Group’s international director.

Founded in 1898, The Fry Group provides tax and financial advice to UK residents and expatriates, focusing on taxation, wealth management, retirement and estate planning. In addition to Cyprus, The Fry Group has offices in five locations worldwide including the UK, Belgium, Singapore and Hong Kong.