Parliament to Discuss Teleworking and Foreign Investments

The Parliamentary Committee on Financial Affairs will begin discussing the introduction of teleworking in the public sector on Monday. Simultaneously, the debate on the bill concerning foreign direct investments is in its final stages.

The government bill promotes mixed teleworking, allowing for teleworking on certain days, combined with work at the workplace. A key prerequisite is the ability to perform duties remotely, as judged by the Head of Department. Details are available in a related handbook.

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

The foreign direct investment bill aligns Cyprus with European practices, providing for stricter controls on strategically important investments. Significant amendments concern the definition of a strategically important enterprise and the exemption of investors from EU, EEA, and Swiss countries. Also, a minimum investment notification threshold of €2,000,000 is introduced.

Stakeholders agreed with the legislation, while TechIsland expected an exemption for the technology sector.