Cyprus Chamber of Commerce and Industry calls for consultation on foreign property acquisition bill

The Cyprus Chamber of Commerce and Industry (CCCI) has formally requested a thorough consultation process regarding the revised legislative framework for the acquisition of real estate by foreigners. The Chamber emphasizes that this issue carries significant strategic importance for the national economy, impacting investment activity, market competitiveness, and the international image of the country. According to the CCCI, any modifications to current laws must be preceded by structured engagement with all relevant stakeholders to ensure that decisions remain balanced and well-documented. The organization warns that failure to facilitate adequate consultation could negatively affect investor confidence, property market operations, and overall economic activity. In light of the current volatile international climate, the Chamber advocates for cautious policy-making to avoid unintended negative consequences. Consequently, the CCCI has called for the immediate submission of the draft legislation to relevant bodies. They have also requested that sufficient time be allocated for substantive review before the bill is forwarded to the House of Representatives for final approval.