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Cabinet receives foreign direct investment bill
September 16, 2022
A bill designed to enshrine into national law a European Union directive for the screening of foreign direct investment (FDI) was submitted to the Cabinet of Ministers this week.
The original framework was adopted in March 2019 and first came into effect in October 2020, with most European Union countries having either implemented the framework themselves or are currently in the final stages of doing so.
According to the Cyprus News Agency (CNA), the bill describes the conditions under which an obligation to notify the intended foreign direct investment and obtain approval is created, along with the criteria and factors that can be taken into account during the foreign direct investment control.