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A N N O U N C E M E N T
19 October 2004
Subject: Liberalization of the policy which governs direct investments
After a decision of the Council of Ministers at its meeting of 30/9/2004 for a complete liberalization of direct foreign investments from countries outside the European Union the Registrar of Companies announces that foreigners who wish to register companies in Cyprus, or to acquire shares in existing Cypriot companies do not need approval in accordance with the above Law. As a result the procedure for the registration of a company with foreign shareholders shall be completed without requiring a permission by the Central Bank. The same will apply in the cases where foreigners file an aplication for the acquisition of shares in companeis which are already on the register.
Stalo Papaioannou
Acting Registrar of Companies
And Official Receiver |