Direct Foreign Investment

As of 1 October 2004, all restrictions for direct foreign investments have been lifted, other than investments in special "sensitive" areas such as defence etc.

Additionally, following the accession of Cyprus to the European Union 1 May 2004, the acquis communautaire applies in Cyprus.

A specific body, referred to as the Cyprus Investment Promotion Agency, (CIPA), has been established with the objective to promote direct foreign investment in Cyprus.

Additionally, the Ministry of Commerce, Industry and Tourism has established the 'One-Stop Shop', service where foreign investors can deal with all the Government paperwork relating to direct foreign investments in one location.

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