Cyprus Citizenship by Investment Program went through significant changes, one of them being the increase in the total investment amount. The minimum total investment amount is now €2,150,000 including the mandatory €750,000 contribution each to Research and Development Fund and Land Development Organization.
The latest amendments are as following:
-The minimum total investment amount increased from € 2,000,000 to € 2,150,000
-€750,000 donation to Research and Development Fund and €750,000 donation to Land Development Organization are mandatory.
-Investment is required to be hold for 5 years instead of 3.
-If investment is to be changed within these 5 years, the consent of the Ministry of Finance is needed.
-The resale property investment is increased from €2,000,000 to €2,500,000.
-Only the holders of Schengen visa are eligible for the Cyprus CIP Program.
-Investment in government bonds is no longer an option.
-Applicants who have been rejected from another EU country is no longer eligible for the program.
-Due Diligence and background checks are enhanced
The revisions announced by the Council of Ministers in Cyprus will start to take place in 15 May 2019. The program is still the fastest citizenship option in the EU. Cyprus citizenship is granted in just 180 days. We advise you start the application process before the price increase takes place. For more detailed information and consultation, contact us.
The changes regarding the Cyprus Citizenship by Investment Program has been extended to 15 July 2019. Before the price increase takes place, we recommend you look into the application process soon.