ABSTRACT
This chapter presents and analyses Directives and Treaty articles of the acquis relevant to the subject of freedom of establishment and free movement of services. It may be argued that the subject of Freedom of Establishment and Free Movement of Services impinges on a wide spectrum of services, which cover almost all fields of the economy. The banks' power is evident in their dominating presence in all fields of the financial services industry, with the inclusion of the insurance industry and the securities and investment services industry. The Cyprus domestic banking system can be broadly divided into three groups of credit institutions: commercial banks, specialised credit institutions, and co-operative credit institutions. The Government of the Republic of Cyprus is keenly following the developments in the European Union (EU) with respect to the efforts undertaken for the adoption and implementation of the legislation pertaining to the freedom of establishment and free movement of services in the current EU member states.
