Cyprus to discuss with UK impact of Brexit

Cyprus, Britain, Brexit

Cyprus intends to discuss with the United Kingdom what impact Brexit will have on both the Cypriot economy and the rights of dual nationals, Cyprus Ambassador to Russia George Kasoulides told Sputnik.

“With Brexit and the change of status of the UK as a potential non-EU member, there is concern about how this new relationship might affect the overall economy of Cyprus. Of particular importance are the acquired rights of citizens, both of Cypriots residing in the UK and of Britons living in Cyprus respectively,” Kasoulides said.

The Ambassador stressed that the United Kingdom is one of Cyprus’ most important trade, financial and economic partners, noting that it remains the second biggest export destination for Cypriot products, as well as one of the main sources of foreign direct investment in Cyprus.

“Due to the close relations between the Republic of Cyprus and the UK, Brexit is expected to have a significant impact on Cyprus,” Kasoulides added.

According to some estimates, about 60,000 British nationals own property in Cyprus.