Applications for investments in the wholesale and retail sector are considered by the Central Bank of Cyprus alone if the foreign participation is up to 49 percent. For foreign participation above 49 percent or when the investment exceeds CYP750.000 (approx. USD 1,5 million), applications are considered jointly by the Central Bank and the Ministry of Commerce, Industry and Tourism.
In the case of industrial projects, the Central Bank handles applications if the foreign participation does not exceed 49 percent. As with wholesale and retail trade, if a higher percentage is required or if the investment exceeds CYP750.000, applications are considered jointly by the Central Bank and the Ministry of Commerce, Industry and Tourism.
