The EU’s legislative landscape on failing banks is undergoing a fundamental shift. Cyprus was indeed the first Member State to experience and implement the resolution and bail-in approach with respect to failing banks, thus relieving taxpayers and direct investors from suffering the burden of rescuing failing banks.
There can be no doubt that Cyprus is a jurisdiction actively protecting foreign direct investment at the highest levels. Cyprus, being an established business center and an aspiring financial hub, has ensured that adequate legal protection for foreign investors is afforded. Direct investment protection in Cyprus stems from international law, EU law and Cyprus law itself. Cyprus adheres to and its legal order has seamlessly transposed all four established types of mechanisms offered by states to foreign investors towards investment protection.
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