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Cyprus Goverment - reaction to bank deposits haircut

Cyprus Citizenship for Foreign Investors

After the unprecedented decision taken by the Euro group, the Cyprus government is looking for measures that will help Cyprus to maintain its comparative advantages and continue to be a destination for foreign investors following the haircut suffered by the depositors at Laiki bank and Bank of Cyprus having deposits over EUR 100.000.

 It is expected that the Cyprus government will offer Cyprus citizenship to the foreign investors affected by the above mentioned measure.

The Cyprus government’s aim is to mitigate the negative impact of the measures that may affect the economy and the relationship with International business investors.  

A package of new measures is expected to be released by the Cyprus government. Those measures will strengthen attractiveness of the Country as a business destination for foreign investors. It is estimated that tax incentives will be announced for existing and new companies that conduct business in or through Cyprus.

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