CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. Countributed Articles
  3. Changes in the Cyprus Citizenship by Investment Program

Changes in the Cyprus Citizenship by Investment Program


Contributed by Oxford Tax Solutions
March 21, 2017



Changes in the Cyprus Citizenship by Investment Program The Cyprus Citizenship by Investment Program is a scheme that was created by the Cypriot government to attract investors by granting Cyprus (EU) passports and citizenship. It was recently amended by the Cyprus government who decided to introduce more flexible criteria.

The minimum investment required has been reduced from €5 million to €2 million plus the purchase of a residential property worth at least €500,000 that has to be registered as the investor’s private residence. The minimum of €2 million is also accepted if the funds are invested on a residential property. Additional amendments are:

  • Parents of applicants are also allowed to apply for a Cyprus (EU) passport as long as they acquire a residential property worth at least €500,000
  • Investments made in Government Bonds have been limited to €500,000.
  • The Collective Investment Scheme and the Bank Deposit alternatives are no longer valid.
  • Varied economic factors are offered.
  • Advantages of the Cyprus Citizenship by Investment Program
  • The application is fast and the procedure takes three months to be completed.
  • There is no necessity to reside in Cyprus either before or after the application
  • The applicant is granted a complete Cyprus (EU) citizenship and he may study, live, work or set up a business in any European country. The list includes Iceland, Norway, Liechtenstein and Switzerland.
  • Cyprus allows dual citizenships and Cypriot passport holders have the ability to travel to more than 150 countries without the need of a visa.
  • The primary investor’s wife or husband and children that are under the age of 28 years old as well as their descendants are also eligible to apply.
  • There is no language requirement and no need for the applicant to take exams.

 

Tags: Liechtenstein | Iceland | Europe | investment | business | Switzerland | Norway | Citizenship | Investment | Invest | Investment | Cyprus

 

 

Back to Articles







Close

Password Reminder

Please enter your email address to receive a password reminder.

 












Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »