[01] Central Bank relaxes investment regulations
The Central Bank of Cyprus announced last Friday the introduction of
significant relaxations of the long-standing regulations limiting the
investment of Cypriots abroad and of foreigners in Cyprus, as part of the
island's harmonisation with the acquis communautaire.
According to the Central Bank's statement all existing restrictions on the
minimum investment and the share of foreign participation in a company
operating in Cyprus are abolished, on the condition that the investors are
residents of a European Union member state. Restrictions however on the
ownership of real estate still remain.
Restrictions on the share of residents of EU member-states in a Cyprus
company, which is listed in the Cyprus Stock Exchange are also abolished;
raising their potential share to 100 per cent, on condition that the
company is not part of the banking sector.
Regarding Cypriots' investments abroad, residents of the island are allowed
to participate in a direct investment with no restrictions on the amount or
the sector of investment.
From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/
