The House Finance Committee will begin discussions on Monday on two major issues: the introduction of remote work in the public sector and the final article-by-article debate of the bill on foreign direct investment screening.

According to the government bill, a hybrid telework model will be introduced, allowing employees to work remotely on certain days of the year while continuing in-office duties.

The proposed law outlines the conditions and general terms for teleworking. As highlighted in the Cabinet’s announcement, a key requirement is that employees’ duties—wholly or partially—must be feasible to perform remotely, depending on their nature and the necessary technological means. Final approval will rest with the relevant department head.

To support implementation, a Telework Guidelines Manual has been prepared by the Department of Public Administration and Personnel, in collaboration with the Department of Information Technology Services and other bodies. The manual will provide guidance for services, employees, and employers, and will be released after the bill is passed into law.

On the same day, MPs will also discuss two proposals to amend legislation regarding the secondment of civil servants and indefinite-term employees within the public service and public law organizations.

Also entering its final legislative stage is the revised bill establishing a National Mechanism for the Screening of Foreign Direct Investments (FDI). The article-by-article discussion begins Monday, following broad consensus among stakeholders reached last week.

The bill aligns Cyprus with EU standards, introducing stricter checks on investments of strategic importance while ensuring the country remains attractive to reliable investors.

Key amendments include:

• Expanding the definition of strategic enterprises to cover companies established under the laws of another country but operating in Cyprus.

• Exemptions for investors from EU, EEA, and Switzerland.

• Obligations for timely notifications by foreign investors to avoid delays.

• Introduction of a €2 million notification threshold.

• Exemptions for vessels (excluding floating LNG units) to safeguard Cyprus’s competitiveness in the shipping industry.

• Provision for consultations with an advisory committee and ex officio reviews even without investor notification.

According to the Ministry of Finance, the goal is a transparent and predictable mechanism that balances national security interests with maintaining Cyprus’s competitiveness.

The revised legislation has gained support from major stakeholders, including the Cyprus Chamber of Commerce and Industry (CCCI), the Employers and Industrialists Federation (OEB), the Cyprus Bar Association, the Bankers Association, ICPAC, CIFA, and the Cyprus Shipping Chamber.

However, the technology business association TechIsland expressed concerns, noting that they had expected an exemption for the technology sector, similar to what was adopted in Belgium.