Cypriot citizenship scheme renamed to Cyprus investment program
Changes that will be implemented in the near future, include not only the change of the name of the program for obtaining citizenship of Cyprus, as it may seem to many people. In fact, the entire program will be significantly changed. Therefore, if you have long wanted to get citizenship of Cyprus under the old program, then hurry to do it today, as it is very likely that in the near future it will become a bit more difficult.
How to change the scheme of citizenship of Cyprus?
- The maximum number of applications for Cypriot citizenship will not exceed 700 pieces per year.
- A Schengen visa is required to access the Cyprus Investment Program.
- If a candidate for obtaining Cyprus citizenship through investment was previously denied citizenship of any country of the European Union, he will be denied access to the Cyprus investment program.
- The shelf life of investments has been increased from 3 to 5 years (the countdown begins after the naturalization date).
- The investor is granted the right to change the investment within five years, but only with the permission of the Ministry of Finance of Cyprus.
- Investments in government securities (bonds) are no longer possible.
- During construction, the investor must obtain permission to carry out the planned work.
- An investor must donate at least 75000 $ to research and development.
- An investor is required to donate at least 75000 $ to land management organizations. These funds are used to finance affordable housing programs.
- The applicant’s data will be verified by a specialized foreign company (to date, the relevant organization has not yet been selected).