Changes in the Cyprus Investment Program

On February 13, the Government of the Republic of Cyprus approved a number of changes in the Cyprus Investment Program:

1) A mandatory contribution of 75,000 euros to the Research and Innovation Fund to help create an entrepreneurial innovation ecosystem.

2) A mandatory contribution of 75 thousand euros to the Cyprus Land Development Organization to contribute to the comprehensive housing policy of the state, especially for the implementation of affordable housing projects and other measures in this area.

3) The applicant is obligated to maintain his investment in Cyprus for at least 5 years from the date of citizenship (previously the minimum period was 3 years).

4) In case the acquired residential property was previously used by another investor to obtain citizenship, the required amount of investments increases from 2 million euros to 2.5 million euros.

5) The applicant is obligated to have a valid Schengen visa.

6) If an investor has previously applied for citizenship in another EU member state and it was rejected, he will not be allowed to apply for citizenship of Cyprus.

7) Complete abolition of investments in government bonds as an acceptable investment under the program.

8) Investments in the shipping industry of Cyprus will be considered as an acceptable criterion for the Cyprus Investment Program.

Please note that these changes will take effect from May 15, 2019. All applications submitted before this date will be considered on the same terms.

We will be happy to provide more detailed information!