Cyprus

• 15/10/2020
• Jurisdictions

Cyprus does not have a formal FDI screening mechanism in place. The laws in Cyprus generally encourage and facilitate FDI, with limited restrictions on foreign control or ownership and limited sector-specific restrictions. Cyprus imposes certain restrictions on foreign ownership in the areas of mass media and real estate, mostly targeting investors from outside the EU and the EEA.

Legislative developments

Currently, there are no indications that Cyprus plans to introduce a formal FDI screening mechanism. As of late 2019, Cyprus was, in fact, in the process of introducing new legislation on expediting strategic investments. The Cypriot government has presented the draft legislation to the Cypriot Parliament for consideration. However, the legislative process has been suspended due to the COVID-19 crisis.

 

The above information is a summary that does not constitute legal advice. For exhaustive information, advice, and assistance please get in touch with our lawyers.