Finance Ministry to oversee Cyprus’ foreign investment controls

Cyprus has moved to establish a national framework for screening foreign direct investments (FDIs), aiming to safeguard security and public order while maintaining an open environment for investors.

The Council of Ministers approved the draft legislation on July 2, the Finance Ministry said in a statement issued on Friday. The bill will now be submitted to the House of Representatives for a vote.

Specifically, it seeks to implement Regulation (EU) 2019/452 of the European Parliament and Council...