Cyprus Investment Programme recent amendments

 On August 18, 2020, the Council of Ministers have adopted the amended regulations regarding the Cyprus Investment Programme (CIP).

While the CIP remains the same in principle and structure and while many provisions have remained valid, the recently enacted regulations introduced certain new provisions that provide a more straight forward, legally stable and clarified framework. 

 

The Latest Amendments

Now, the investment requirements are as follows: 

• The minimum investment amount is €2 million


• Purchase a main residence at €500,000 (plus VAT if applicable)


• The investment must be kept for a minimum period of 5 years


• Donation of €100,000 to the Cyprus Land Development Corporation 


• Donation of €100,000 to the Research and Innovation Foundation, subject to certain exceptions


• The investor must be the holder of a residence permit in Cyprus to qualify for Cyprus citizenship


• No requirement for applicants to live in Cyprus prior, during or after the application process, but are required to hold a Residency Permit for at least 6 months


• The applicant must have a Schengen visa at the time of application


• The applicant must have a clean criminal record (including a clean criminal record for spouse, adult children and parents)


• Applicants who were previously rejected for citizenship by any other EU country, are not eligible under the CIP

Updated advantages of the Cyprus Investment Programme

Official: approved by the European Union

Attractive: visa-free travel to 157 countries, including Canada and Australia

Convenient: the ability to have dual citizenship

Prompt: consideration of the application takes from 6 to 9 months

Prospective: the investment object can be sold in 5 years, keeping property on €500,000 for personal use

Friendly: getting citizenship for the whole family, including Investor's children and parents

 

How to act now

We are confident that any changes are only beneficial. The PRIME PROPERTY GROUP experts are ready to provide you with active assistance at all stages, choosing the most profitable investing combinations, ensuring capitalization growth and subsequent return on your investments.

We will facilitate you consider all the subtleties of the government program, obtain Cyprus citizenship and even profit.

We have prepared 4 convenient investment options for you. Check them out now and take the first step towards life in Europe!