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Cyprus PIO: News Update in English, 00-01-10

Cyprus Press and Information Office: News Updates in English Directory - Previous Article - Next Article

From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>

Monday, 10 January 2000

  • [01] Central Bank relaxes investment regulations

    [01]

    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/


    Cyprus Press and Information Office: News Updates in English Directory - Previous Article - Next Article
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