As of 1 October 2004, the Government of Cyprus (GOC) has lifted all restrictions on foreign direct investment from non-EU countries in order to attract more foreign direct investment and further promote Cyprus as an International Financial Business Centre. All restrictions concerning maximum allowable percentage participation, as well as minimum monetary level of foreign investment in any enterprise (entity) in Cyprus, were lifted from 1 October 2004 for all non-EU citizens (and from January, 2000 for EU citizens) for most sectors of the economy.
The State Investment Policy now allows 100% foreign participation in Cyprus Entities in most sectors of the economy, not only for EU citizens, but also for investors from third countries.
Thus, entities and individuals from all over the world can establish Cyprus Companies or other legal entities to invest and do business in or out of Cyprus without restrictions whatsoever.
A further significant boost to foreign investment is expected in view of this latest development.
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(updated 1st quarter 2006)
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