The Council of Ministers have adopted the amended regulations in
regards to the Cyprus Investment Programme (CIP) on the
18th of August 2020.
While the CIP remains the same in principle and structure and
while many provisions have remained valid, the recently enacted
regulations introduced certain new provisions that provide a more
straight forward, legally stable and clarified framework.
In particular, the following provisions have been introduced in
addition to and/or in replacement of the previous applicable
rules:
- a "Supervision and Control
Committee" has been established with the aim to regulate the
services of the CIP registered service providers. Such
Committee's composition shall include the General Director of
the Ministry of Interior, the General Director of the Ministry of
Finance and the Representative of the Cyprus Investment Promotion
Agency or their Representatives provided that they hold managerial
positions, as well as duly experienced and
