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ARTICLE · 10 NOVEMBER 2021

Foreign Investment Policy Comes Of Age?!

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

Elias Neocleous & Co LLC

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On 15th October 2021, the Cyprus Government announced its latest action plan for attracting foreign businesses to establish or expand their activities in Cyprus. As is well documented, previous investment plans, ...

CyprusGovernment, Public Sector
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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On 15th October 2021, the Cyprus Government announced its latest action plan for attracting foreign businesses to establish or expand their activities in Cyprus. As is well documented, previous investment plans, such as the original 'Cyprus Investment Programme', have attracted sharp criticism. The EU, in particular, accused Cyprus of selling its coveted passport to unsavory characters. Less headline grabbing, but possibly of more importance for the economy and the Cypriot people, were accusations from home and abroad that little true investment was being made in the Cyprus economy. Most money was directed to non-productive real estate with industry, shipping and agriculture substantially ignored.

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