Foreign Investment Control and CSE Privatization Bills in Parliamentary Committee

The Parliamentary Committee on Financial Affairs resumes its work on Monday with discussions on the control of direct foreign investments and the privatization of the Cyprus Stock Exchange (CSE).

The foreign investment bill concerns the implementation of Regulation (EU) 2019/452 and defines the conditions for notification and approval of investments, as well as the control criteria.

Regarding the CSE, the Ministry of Finance has sent new bills with legislative technical improvements, the possibility of qualitative criteria for the strategic investor, and safeguarding the prospects of employees.

The Ministry also launched a public consultation on a set of bills on issues arising from the abolition of the existing institutional framework of the CSE, taking into account the views of the Cyprus Securities and Exchange Commission.

The privatization of the CSE is a milestone of the Recovery and Resilience Plan and is linked to the seventh request for payment of funds from the EU.