Flexible & Modern Legislation
Restrictions concerning maximum allowable percentage participation, as well as minimum monetary level of foreign investment in any enterprise / legal entity in Cyprus, were lifted from January 2000 for EU Citizens, and from 1 October 2004 for non- EU Citizens.
Now, Cyprus’ Investment Policy allows 100% foreign participation in Cyprus Entities in almost all sectors of the economy not only for EU Citizens, but also for investors from third countries.
Please note that restrictions still remain on few sectors in the areas of Real Estate development (it is permitted to buy property for private use), tertiary education, public utilities, radio & television stations, newspapers, magazines and airlines.
- Full exemption from all exchange controls – restrictions, both for EU and non- EU Nationals.
- The legislation ensures full anonymity of foreign beneficiaries– no public body possesses the identity of the final beneficiaries, not even The Registrar of Companies or the Tax Authorities.
- Strict Bank Confidentiality which is the cornerstone of State Policy.
- Cyprus Entities, whether beneficially owned by foreign nationals or local persons can engage into either local or international activities without the need for any special permit (activities inside Cyprus by non- EU nationals were prohibited before October 2004).