Cyprus: Double Tax Treaties
Promotion and Protection of Investment Agreements
Cyprus has signed more than 25 agreements on the promotion and protection of investments. These bilateral agreements contain guarantees against discriminatory treatment, safeguards for the repatriation of capital and profits in a freely convertible currency and compensation provisions in the event that property is expropriated, among other clauses. Countries with which Cyprus has such agreements include:
- Belgium & Luxembourg
- Czech Republic
- San Marino
In March 2009, Cypriot Minister of Commerce, Industry and Tourism, Antonis Paschalides, signed an agreement to protect and promote mutual investment with Iran.
During the Minister’s meetings in Tehran, issues of common interest were discussed and ways of further developing economic, trade, tourism and investment relations between Cyprus and Iran were examined. In the framework of the meeting with the Iranian Minister of Finance, an agreement was signed for the Mutual Promotion and Protection of Investments between Cyprus and Iran. The agreement went into force on 4 May 2012.