The Cyprus Citizenship by Investment Programme was recently amended. The particular programme grants Cyprus Passports.
The minimum investment requirement has been reduced to €2.5 million. Previously the minimum was set at €5 million.
It is noteworthy that the sum of €2 million minimum investment is accepted under the condition the funds are invested in residential property. Each residential property must be worth €500,000 or more and must be registered as the private resident of the investor.
Parents of applicants may also entitled to apply for a Cyprus Citizenship as long as they invest an additional amount of €500,000 in a residential property.
Investments made in Government Bonds have been restricted to €500,000.
The Collective Investment Scheme is not accessible anymore.
The Bank Deposit alternative is not accessible anymore.
Diverse economic factors are offered.
The Cyprus Citizenship by Investment Programme provides multiple advantages including:
The application and approval process takes three months.
The applicant is granted complete EU citizenship. Therefore, the applicant may live, work, study or set up a business in any European country, including Iceland, Switzerland, Norway and Liechtenstein.
Cyprus permits Dual Citizenship.
After acquiring the Cypriot citizenship, holders are not required to reside in Cyprus.
A Cyprus Citizenship allows holders to travel without a visa to more than 150 countries across the world.
The investor’s wife/husband, children (viewed as dependants when under 28 years old) as well as their descendent are eligible to apply for a Cyprus Citizenship.
There is no language requirement.
For more information please do not hesitate to contact our office in Cyprus: [email protected]
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