Cyprus bureaucracy seen as deterrent for foreign investors

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The CIPA (Cyprus Investment Promotion Agency) has been involved in a new initiative to attract overseas investors to the island in 2017. The government funded body quoted recent results from a survey from foreign investors from various jurisdictions and found that many considered administrational procedures and slow bureaucratic processes as deterrence for investment. However the surveys concluded overall that “investors overall assessment and experience of Cyprus remains unaffected” the CIPA said in an emailed statement last week citing the findings of the two recently conducted surveys.