April 10, 2019

Changes to the Cyprus Citizenship Programme 2019

On the 13th of February 2019, the Council of Ministers of the Republic of Cyprus approved the revised Cyprus Investment Programme (the “CIP”) with the aim to revise and include new due diligence procedures to strengthen the credibility of the CIP taking into account at the same time the concerns raised by the European Union. The new CIP aims to allow foreign high-net worth individuals and their family members to obtain the Cypriot Citizenship within a six month-period.

Changes to the CIP effective from 15th of May 2019:

  • The proposed investors will be required to make a mandatory donation of Euro 75,000...

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