Teleworking in Public Sector and Foreign Investment Control in Cyprus

The Parliamentary Committee on Financial Affairs will begin discussing the introduction of teleworking in the public sector on Monday. Simultaneously, the bill on foreign direct investments is in its final stage of article-by-article discussion.

The government bill promotes mixed teleworking, allowing employees to work remotely on certain days, combined with working at their workplace. A basic prerequisite for teleworking is the ability to perform duties remotely, as judged by the Head of Department.

Proposals to amend legislation regarding the secondment of civil servants will also be discussed.

The revised bill on foreign direct investments is entering its final stage for voting, aiming to align Cyprus with European practices and strengthen controls on investments of strategic importance. The bill provides for stricter controls on investments exceeding €2,000,000, with exceptions for ships and investors from EU, EEA, and Swiss countries.

Stakeholders such as KEBE, OEB, and the Pancyprian Bar Association agreed with the proposed legislation, while the technology business association TechIsland expressed a desire for an exception for the technology sector.

Source: CYPRUS NEWS AGENCY