The Cyprus 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 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.